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Evening Stock Watch-List: June 12, 2019

Stock Watch-List: June 11, 2019

June 12, 2019

Hello there! Below is your edition of this evening’s watch-list. We hope you have a great trading day tomorrow! 

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Futures At A Glance

DOW S&P 500 NASDAQ BITCOIN GOLD

-12 (-.05%)

-1 (-.03%)

-10 (-.13%)

+90 (+1.14%)

+5.2 (+.39%)

CRM

SalesForce ($CRM) is cloud based customer relationship manager that basically runs the entire industry and dominates market share. I’m a big CRM fan and love them long term always to the upside. They recently finished up an acquisition that initially sent the stock plummeting. They bought a company called Tableau for 16 billion in a stock transaction. Yes this dilltes the stock. Which isn’t a great thing as it waters down the value per share, unless of course the acquisition adds the additional value and in this case I believe it does. As far as I can tell they plan on running Tableau as its own separate subsidiary which i believe to be the right move. Anyway, enough of that. Breakout tomorrow over $150.75, or more aggressively $150.25 tomorow should send this to $155 by end of week.

CBAY

CymaBay Therapeutics, Inc. ($CBAY) is a Biotechnology company in the Healthcare sector. This stock plummeted today (closing nearly -50%) after releasing it’s NASH trial data, apparently severely disappointing institutional investors. As stocks waterfall like so, there becomes opportunity to trade the gap fill. CBAY created major resistance at the $7.00 whole dollar level in pre-market trading, and now it is reversing back towards that level this evening. I plan to day trade this over the $7.00 natural resistance level for the gap fill pattern! 

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