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Dennis Dick, CFA, is a proprietary trader, and market structure consultant with Bright Trading LLC. He has twelve years of proprietary trading experience specializing in pair trading, crutch trading, momentum, contrarian, technical, and algorithmic trading. His insights into equity market structure have been cited in a number of financial publications including the Wall Street Journal, Reuters, Dow Jones, and Forbes.

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June 22 Premarket Stock Talk

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Sell the rumor, buy the news?  That’s the story in MS today.  CVX, IBM approach major support, and FB gets some love from Nomura. Full premarket analysis:

June 21 – Premarket Stock Talk

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Another retailer takes a plunge, less people smoking, and two biotechs take opposite directions in their cancer drugs.  Full premarket analysis:

June 20th Premarket Stock Talk

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PG lowers guidance.  ADBE and JBL report, and IBM and PEP run into HFT sellers.  Full premarket analysis:

June 19th Premarket Stock Talk

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ORCL surprises us with earnings last night. WAG tries to write a prescription for a higher stock price, and FDX a little light with next quarter’s deliveries.  Full Premarket Analysis:

June 19th Premarket Movers

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Stock Movement Reason Our Comments
ORCL Up 1 point. Earnings last night. Stock traded up significantly last night after releasing earnings 3 days early.  28 could be a key swing number. 
WAG Up 70 cents. Earnings, raise dividend, acquires 45% stake in Alliance Boots. A plethora of news. Stock rallying nicely. Traded as high as 33.25 in premarket. 34 may provide major resistance. 
JCP Down $1.50 President leaving. Another JCP exec. jumps ship.  Stock making new 52 week lows this morning.  Keep an eye on old 52 week low of 23.14. 
FDX Down 1 point. Earnings, lowers guidance. Stock beats on earnings, but estimates for next quarter a   little bit light.  Traded as low as 84.01 in premarket. Bouncing back now. 
MSFT Up 30 cents. Announces new tablet. Unveils new tablet, Surface.  30 number continues to act like a magnet, needs to hold that critical number. 
* Listen to Premarket Stock Talk at 8:45 ET for full premarket coverage.

 

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