Can market go all time high for the year? Thursday SurfList 06-02-2016

Market Analysis

So the short week has been bullish so far. SPY continued it's slight uptrend today as the global economic data was viewed positive by investors. Remember what I said over the weekend about it being interesting to see if SPY can break $211? This seems imminent but whether the continuation would be there is anyone's guess.

Alright so here are the stocks I'm watching for tomorrow along with other stocks I mentioned few days ago which I've been trading as planned.


Great dip buying opportunities in these stocks intraday. Hope you were able to scoop some cream!

Here are few additional stocks that I find interesting.

NASD:BLCM [Bellicum Pharmaceuticals, Inc.]


Nice month long uptrend and a break above $12 without any news as rising tide lifted all boats. Break over $12 seems pretty powerful to me and I'll be looking to enter in upper $11s if there is a pullback with a $14 target to test out 200 day moving average.

NASD:FIVN [Five9, Inc.]

FIVN-05-31-2016 Five9 has been on a very nice uptrend since the past six months after a lack luster IPO. Prospects are looking better as it's competitor inContact got acquired for $14/share. On the negative side it's not making any profit.

Regardless, strong price and volume movement states that investors have an appetite for this stock and one analyst has an $11 price target which is the highest buy price.

It will be interesting to see if $10.50 can hold tomorrow as that will be a good entry if there is no continuation for $11 break.

NASD:NERV [Minerva Neurosciences, Inc.]


I've been pretty bummed about not pulling the trigger on this stock today on a pullback around $11.35 as it started to show higher lows. I was expecting this to go green on the day but not a whooping 20%. I hope you were able to catch this trade. NERV is trading at an all time high and this will likely give back it's gain tomorrow if exuberance is not to be found intraday. A pullback towards $11.50s is possible. Intraday price action on this stock followed by a strong volume makes this the #1 stock to watch for the end of the week.

NYSE:YRD [Yirendai Ltd.]

YRD-05-31-2016 In my previous post I said -

I've traded this multiple times in the past two weeks and will continue to look for good entry for a $15 break. If the breakout isn't strong enough we should expect a pull back to $12 area.

So the breakout seems strong enough to me and there were multiple opportunities to trade this intraday in the past two days. If this can take out $16 then we may very well see $20 in the coming months.However, what goes up must come down so remember a $12 pullback if it starts to make a U turn.

NYSE:ZEN [Zendesk, Inc.]

ZEN-05-31-2016 The bounce back from it's Feb nosedive which was lead by many tech stocks looks very strong. I expect this stock to reach an all time high of $28. 3 times more volume on analyst overweight upgrade was taken very positively by traders and investors alike. I'll be looking to join the trend tomorrow if the momentum continues to be strong.

That's it folks and Happy Trading!

PS: questions? comments? feedback? I'd love to hear them.