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Quick Trade Watch-list, June 15th, 2020!

After a great start to the week, last week finished with a very strong down day on Thursday and then a bounce on Friday. On Thursday morning, it looked like mining stocks would resist the selling pressure but by the end of the day, many of them began to sell-off as broad markets continued down, despite the price of gold holding up well.

The DOW eventually closed down over 1800 points, which was the largest single-day drop since the March crash. The TSX also had a rough day, dropping around 650 points. The rebound on Friday was a good sign but we will definitely want to be paying attention to broad market action early this week. If the sell-off resumes, I would expect marijuana, pharma, and energy stocks to to remain weak. If markets rally, then those companies on our watch-list should be poised to move higher.

Most of the set-ups on the watch-list are still valid and many are in favourable risk/reward positions, provided that the market cooperates. I did not add any new companies to the list this week, as I see plenty of opportunities with the current names. I will highlight some of the charts that become "buys" as the week progresses.

Have a great week!



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