The stock market is speaking clearly in the form of trading volume…
Bullish traders have had it easy for the last two years. Nothing wrong with that. But it’s time to be a professional trader. Buy every pullback is no longer in play. We are trading a two-sided tape with the larger volume days on the sell-side.
If you don’t adapt to the staccato price action you will see your trading account decline every day. Tape reading is crucial right now. Trend day, inside day, trend day in the opposite direction. Today’s NFLX trading game plan is a prime example. Good news and no bounce. Something is afoot.
Traders don’t get paid by the hour. We earn our income by the month. Remember that the next time you don’t have a good read and place a trade anyway…
Stock Market Today: Map of the S&P 500
(click the map for a full view)
SPY inside day on light volume sets up a trend day today. Gap lower (7am) shows the first support level at 194.25.
(click the chart for a full view)
Stocks to Trade | Tuesday September 22, 2015
- The amount of stocks in my long scans increased to the largest number in a month.
- Not saying this means be long, simply that my stock market scans are getting back to normal.
Charts in Focus
Netfix Inc. NFLX
NFLX is an interesting trade right now. For the most part it has ignored good news and continues to hover on either side of $100. I see it as a “do nothing” right now other than a day trade. A long-term pennant is forming. Let it breakout before you commit to a swing trade, but keep on your day trading radar because of it’s volatility and liquidity.
(click the chart for a full view)
Earnings in play today > 1M avg shares: CAG, CCL, DRI, GIS, KMX
Stocks that showed relative Strength– contra to the SPY Negative change from the open on 9/18/15:
Above the 20sma, up for the week and closed 2% higher from the open: (not necessarily all longs, but stocks to note for the price action of strong close from the open and above the 20sma): ADBE, ALK, JKS, KMX
Bullish Ideas ATR/Volume/Price: MDCO, PANW, SRPT, RCL, AVGO, INCY, DXCM, LB, TSLA, VMC, EXPE, UA, CHTR, AMZN, POST, FB, EA, NKE, UNH, ALK, SBUX, FL, TWC, ADBE, LLY
Bearish Ideas ATR/Volume/Price: gpro, amba, wynn, qihu, cf, hp, lng, mpc, de, mon, apa, dg, bidu, mrk, myl, baba, amgn, etn, amt, clr, slb, kss, lvs, agn, cci, apc, jpm, fslr, hes, cat, twx, oxy, mjn, stx, hon, qrvo, utx, hot, biib, lrcx, mmm, yum
Weak Stock Weak Close: gpro, amba, wynn, cpgx, terp, hp, lng, abbv, mos, dyn, bidu, mrk, myl, baba, amgn, ar, pot, bkd, agn, feye, pfe, gild, qrvo, biib, lrcx, nov, trn
Strong Stock Weak Close: MDCO, SRPT, INCY, Z, DHI
Weak Stock Strong Close: qihu, dltr, data, syf, lnc, duk, dd, splk, cma, cvs, gps, urbn,
Strong Stock Strong Close: ATVI, CHTR, TMUS, ALK, QLIK, RAI, NLSN, ADBE, CUBE
20 day Breakdown: cf, pah, trmb, cpgx, nue, joy, mon, wynn, do, dyn, m, mos, pot, nrg
20 Day Breakout: HUM, NAT, DISCK, ANF, AMZN, TMUS, IDTI, NKE, DISCA, TSLA, ATVI, FB
2x Normal Volume: P, MNK, VRX, ABY, NRG, HZNP, RHT, ST, BUD, AMH, BWA, GNTX, LUK, LQ, DOW,
Watch List Longs: SBUX, BBY, MO, UNH, TWC, BRCM, ADBE
Watch List Short: abt, mrk, met, amgn, ms, slb, kss, wmt, jpm, jnj, hon, wynn, m, nue, qcom, dd, lvs, emc, vz, hpq
Inside days: adbe, gis, symc, sti, cmcsk, wmb, wtn, abbv, dhr, cl, stt, cat, kss, wba, csx, hcn, hd, hcp, ups, rost, mmm, cmcsa, tsm, clr, adm, wmt, hal, mar, ip, hlt, nee, intc, viab, stwd, uri, cop,
NFLX Trading Game Plan September 22 2015
Can Star Wars Awaken Disney and Netflix Stock? (NFLX, DIS)
When giants team up, stocks go up
If you’ve been savvy enough to own shares of Netflix (NFLX) and/or Disney (DIS) for the last five years, your prescience has been amply rewarded. NFLX stock is up more than 400% in that time, and DIS stock is no slouch either, up 200% in the last half-decade.
But most investors don’t have crystal balls in their investing arsenals, and if you bought into either stock within the last month or so, you’re probably sitting on losses. In fact, both stocks are down 15% since Aug. 5 — that’s about three times the 5.9% selloff in the S&P 500.
Thankfully, shares of NFLX and DIS stock didn’t become long-term winners through sheer luck, and the two are rumored to be teaming up once again — this time to bring the Star Wars franchise to Netflix in Latin America.
Continue reading on investorplace.com
Insider Selling: Netflix, Inc (NFLX)
Independent Director Mr. Richard N. Barton sold 2,800 shares for a total selling price of $285,012 through three transactions on September 16 and 17. Following this transaction, Mr. Barton will control 44,862 outstanding shares valued at $4,603,738 as of Friday.
Netflix stock closed at $102.62 on Friday, down 1.53% from its previous close. Last night, Netflix stock got momentum after winning 4 trophies in 67th Emmy Awards.
Continue reading at bidnessetc.com