Many traders are frustrated with a stock market that doesn’t want to pause.
This is tough price action to day trade, but think about it from a different point of view. The trend is higher and stocks keep going higher. Stop putting limits on how far the market can go. The SPY is doing what an uptrend is supposed to do. It is going higher.
Stop trying to guess a top. It is pointless and expensive. Sure it could go lower today, and you will claim victory.
But what about the money you should have earned, being a buyer, the last few weeks?
Stock Market Today: Map of the S&P 500
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SPY pushes higher, again. Again on light volume. Be disciplined. The trend is up. If the SPY is driving you crazy, be stocks specific.
(click the chart for a full view)
- Oil and gas stocks overbought now.
- SPY at resistance.
- Facebook earnings report today after the close.
- TSLA earnings yesterday, trading higher. Should be a good day trade today (but not choosing a direction yet)
Charts in Focus
VMW showing nice consolidation in a solid down trend. Today we are looking for an increase in volatility and for VMW to provide us a trend day to hold to the close.
(click the chart for a full view)
Facebook Earnings Report 11-4-15 | Stocks to Trade
Earnings in play today > 1M avg shares: FB, RIG, MRO, TWC, FEYE, QCOM, WFM, MET, QCOM, MET, CLR, GKD, KORS, ERP, ETE, STSH, PRU, GPOR, CF, HOLX, KIM, CDW, SSYS, MCHP, XPO, GDDY, HUBS, WFM, DDD
Relative weakness to yesterday’s SPY positive change from the open: aet, agn, see, cyh, nrf, jblu, rai, gpro, mo, car, vrx
> 20sma, positive week and closed 2% higher from the open: ATVI, MSFT, V, CVX, MRO, PYPL, MYL, JD, SLB, COP, MOS, VLO, MPC, APA, MON, LVS, XON, PXD, PSX, MJN, BBBY
<20sma, negative last 5 days and closed 2% lower from the open: nrf, gpro, car, vrx
Bullish Ideas ATR/Volume/Price: AAPL, FB, XOM, V, CVX, DIS, BIDU, MPC, BMY, OXY, MDT, CTRP, MA, HD, PXD, PSX, AMZN, DHR, PRU, ADSK, UPS, FSLR, NKE, CAM, HON, ACN, AMGN,ADBE, TSO, AMT, RCL, GOOGL, TRV, INTU,
Bearish Ideas ATR/Volume/Price: vrx, gpro, scty, feye, unp, wdc, rrc, cyh, hca, skx, hcn, hog, cmi, vmw, endp
Weak Stock Weak Close: cyh, gpro, vrx
Strong Stock Weak Close: AGN
Weak Stock Strong Close: akam, bkd, dyn, jah, kmi, lng, scty, stx
Strong Stock Strong Close: ATVI, MSFT, V, CVX, PYPL, VLO, MPC, PXD, PSX, PBF
20 day Breakdown: adm, car
20 Day Breakout: ATVI, POT, DO, MOS, OLN, WY, ALL, JBL, XON, PXD, WPZ
2x Normal Volume: ATVI, AIG, V, SYF, CAR, FIT, POT, AOE, ADM, SCTY, DO, THC, JAH, RDC, JBL, XON
Watch List Longs: CVX, VLO, XOM, TJX, PRU, HD, SBUX, COF, GE, MET, BMY, DIS, JPM, AMGN, MCD, TRV, COST, HON, MSFT, JNPR, MGM, EBAY, ADBE, LUV, NTAP, INTU
Watch List Short: wmt, adm, akam, tol
Inside days: pfe, t, baba, ms gpro, abbv, jnj, kr, mcd, rrc, ctrp, cvs, hig, etfc, swks, low, celg, esrx, mmm, skx, rax, d, nke, hon, lng, crm, de, endp
Facebook | FB to Report Q3 Earnings: Will It Beat Estimates?
Facebook price action has held up nicely since the previous earnings report which was considered a mild disappointment. Not because revenues were out of line, but because margins were higher for new investments. The following is a report from zacks.com
Facebook, Inc. (FB – Analyst Report) is set to report its third quarter 2015 earnings on Nov 4. The company reported a negative surprise of 3.23% in the last quarter and has an average negative earnings surprise of 2.61% in the last four quarters. Let’s see how things are shaping up for this announcement.
Our proven model does not conclusively show that Facebook is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here as you will see below.
Though Facebook’s Zacks Rank #1 increases the predictive power of ESP, a 0.00% ESP makes surprise prediction difficult. Facebook has an earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 35 cents.
Things to Watch for in Q3
We believe investors are primarily focusing on growth opportunities from increasing online and mobile advertising spending. Mobile monetization has increased with a higher number of marketers, continuing investment in new products and robust performance of its newsfeed ads. Notably, Facebook derived 92.7% of its 2014 revenues from advertisement.
Facebook is working on a couple of new ad products designed to drive sales while generating more ad revenues. Reportedly, the latest advertising offerings from the company include Canvas (for making full-screen ads available through Newsfeed) and Shopping feeds under Favorites (for displaying stores on its Shop section).
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