Facebook is doing everything right.
The FED can’t win for losing. The initial response by traders after the FOMC was muted, but bearish traders woke up, and hammered prices lower again.
The stock market traded massive volume in 2016. My trading experience says we are due for a pause. The problem with that wisdom, is we are no longer solely trading a domestic market.
The new, global, 24/7 market is here to stay.
Pete’s Day Trading Notes:
- Facebook earnings…wow.
- FOMC reaction, look out below.
- The short-sale is still the correct play, many more stocks trading below their 200 sma.
- Started to notice, many charts, at or near support. The stock market is consolidating the massive selling and volume traded for 2016. This is normal, but may lead to muted price action for day traders. If this happens, you need to be focused on stock picking.
Stock Market Today: Map of the S&P 500
(click the map for a full view)
–> Top 25 Proprietary Trading Secrets
SPY price action was healthy for bullish traders, prior to the FOMC announcement. The $187 level is the support traders need to monitor for another move lower. If the SPY can’t break this level with volume, we could be in for a week of sideways action.
If that happens on heavy volume, it will be short-term accumulation and we will see a bounce.
(click the chart for a full view)
Facebook Earnings Report Launches Stock Price Higher
It’s a big week for big tech earnings. Apple sold off Wednesday on weak guidance. Facebook zoomed late as it crushed estimates, but EBay plunged.
Facebook maintained its strong growth momentum with fourth-quarter earnings that topped expectations. The social media giant reported revenue of $5.84 billion, up 51% from the year-earlier period and beating the consensus estimate of $5.37 billion. Facebook reported earnings per share minus items of 79 cents, easily topping the consensus was 68 cents, as polled byContinued
Facebook Inc (NASDAQ: FB) shares are skyrocketing after a positive earnings surprise Wednesday, now above the $100 level. The social media giant reported fourth quarter earnings of $0.79 per share versus estimates of $0.68, and revenue of $5.84 billion versus estimates of $5.37 billion.
Facebook released its 4Q earnings report and the results largely beat expectations, offering a much needed sentiment boost in a lackluster earnings season.
Facebook investors are paying a high price for consistency. But the social network’s results show it hasn’t missed a step.
— TheStreetTech (@TheStreetTech) January 27, 2016
Facebook Stock Price After Earnings Report
(click the chart for a full view)
Stocks to Trade 1-28-16
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: AR, COH, GLNG, GPOR
Negative last 20 and 5 trading days | closed 2% lower from the open: vmw, ba, stt, nflx, hcn, appl, ilmn, bidu,expe, hfc, fit, tso, mpc, adsk, ftnt, wdc, aet, dal, km, tsla, gild, tol, hog, ma, adbe, googl, amgn
Quarterly Order Flow:
Bullish Stocks to Trade: JNJ, PM, LULU, MCD, DLTR, NEE, KHC, EA, FSLR
Bearish Stocks to Trade: vmw, ba, stt, nflx, hcn, aapl, wpz, swks, nvs, expe, hfc, aer, adsk, wdc, crm, aet, car, dal, kmx, tsla, gild, mjn, ma, mck, mar, xom, mbly, bmy, cat, esrx, abc, ir, axp, pru, lnc, gs, dvn, jpm, ups, slb, fdx, ual, cof
20 Day Breakdown: vmw, ba, stt, nflx, hcn, aapl, jd, nvs, expe, tso, tsla, luv, tol, hog, adbe, cb
20 Day Breakout: O, KHC, COG, AR, COH, GPOR
2x Normal Volume: AAPL, BA, COP, JNJ, CLR, BXLT, COH, HES, NBL, STI, MUR, HOG, COF, VMW, HCN, STT, NVS, CAM
Inside days: dhi, jnpr, wdc, stx, bx, ftnt, pcg, mxim, nue, lng, mchp, tmus, kim, skx, scty, len, yoku, yelp, urbn