Thank you Fed (Yellen) for Todays rally and Tuesdays SurfList 06-07-2016

Market Analysis

Hint Hint Wink Wink! After dismal job report from Friday, Fed confirmed today that the near term rate hike is unlikely. This casused the market to close all time high for the year with energy sector ahead of the pack.

As I mentioned in my yesterday's post that SPY will break $211 and much credit goes to Fed. Hopefully the uptrend would continue throughout the week.

Tuesday's SurfList

Here are stocks that are in play for tomorrow.

NASD:VBLT [Vascular Biogenics Ltd.]

VBLT-06-06-2016 Spiked on a positive trial results up to 85% today, I traded this multiple times intraday between the range of $6.80 - $7.50. The volume is absolutely insane as it traded 90 times yesterday's volume. This former runner ran up to $7 last September and at that time it traded less than 2 million shares. I wouldn't be surprised if VBLT starts to gap up tomorrow and continue to head towards it's former high of $12 within a week if the momentum continues.

NASD:LBIO [Lion Biotechnologies, Inc.]


Yesterday, I said

I'll be watching this to see if the momentum is still there to take this over $10 on Monday where I'll join the trend. Otherwise this would be a great short candidate.

Well it didn't go anywhere. Major indecision as the bulls and bear struggled to gain momentum on either side. If there is a weak open tomorrow then we should expect this to head towards $7.50 for consolidation and decide which way it is going to go from there. However, this pullback seems reasonable.

NASD:GPRE [Green Plains Inc.]

GPRE-06-06-2016 Strong technical breakout closing the day 5% plus gains. I don't see any news but the buying pressure is very evident in addition to the sector being up today. Notice the higher lows this has been making since February and it's consistent. I'll be looking to build a swing position on any pullback with a target of $24 in couple of weeks and a tight stop around $18 area.

NASD:SRPT [Sarepta Therapeutics, Inc.]


SRPT went as high as 37% in after hours trading today after FDA asked for additional data. Yes, you read that right. FDA is simply asking for more data not approving their drug. There is a lot of exuberance on this as traders and investors alike take this as a positive sign. I'm pretty skeptical whether request for additional data which will take weeks to submit for Sarepta and few more weeks to analyze by FDA warrants such a rally now. Good short candidate for few weeks in my opinion. Hey, if the sample submitted produced a positive result then it's right to respect the stock then but this keen jerk reaction is uncalled for.

Finally, here are few more stocks that are on my surflist.


RYI - Had a nice gain today. Entered a position on a pullback bounce around $15.15 and exited around $15.40. I'll be looking for more opportunities tomorrow as the bullish trend continues in this stock.

That's it folks and Happy Trading!

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