Nordstrom Plunges Over Privatization | Stocks to Trade 10-3-17

JWN Nordstrom Inc

JWN Nordstrom Inc Falls After Privatization Talks Fail

Nordstrom’s Failed Privatization Hints at Destruction to Come

Nordstrom Inc.’s (JWN ) reportedly foiled plans of privatization point to imminent money woes for the whole industry, not just itself.

“The Nordstrom family was better positioned than anyone to go private, and if they are finding difficulty getting this deal done, then other retailers will have difficulty in their future refinancing” endeavors, said David Tawil, president of Maglan Capital, a hedge fund that focuses on distressed companies.

Nordstrom shares on Monday, Oct. 2, plunged 6.3% to $44.18 following a report that the retailer’s deal to go private with Leonard Green & Partners LP is on the brink of death. The Los Angeles private equity firm was in talks to cough up $1 billion to fund a transaction with the Nordstrom family but could not
secure any bank financing, according to the New York Post.

Why Nordstrom, Inc. Stock Plunged Today

Shares of Nordstrom Inc. (NYSE:JWN) were down 7.3% as of 12:30 p.m. EDT Monday following reports that talks to acquire the department store chain are “faltering.” Sources familiar with the deal told The Post that the surprise bankruptcy of Toys R Us contributed to “anxiety among lenders and the Nordstroms alike.”

Worse yet, insiders elaborated, the Nordstroms — who own a roughly 31% stake in the company worth $2.4 billion — are rightly concerned that if the only way to finance the deal comes with unfavorable terms, it could “kneecap its turnaround plans and endanger the family fortune.”

JWN-Nordstrom Inc 10-3-17

JWN-Nordstrom Inc 10-3-17

Today's Trading Lesson

60 Minute Charts Day Trading Strategy

If you are finding the current long-term tape is driving you crazy, here is a simple solution that works like a charm for day trading.

This is not a full trading plan but it come close. We are using the SPY ETF as an example but you can apply the trading strategy to any stock. The concept is to use the 60 minute charts for your day trading trend and the open price indicator as your filter.

The Open Price Indicator

Most traders will identify a stock’s strength, by net change, or change form the previous close.

This is fine if you are swing trading, but today, we are purely using the 60 minute charts as the main trend indicator.

Once we have identified a trend (The current hour is a green or red candlestick) we then look for confirmation from the last price from the open price. If we get agreement, we then drop down to a shorter time frame, usually the five or fifteen minute charts, to identify an entry/

Since we are trading by the hour, flag patterns can take too long to develop.

Watch the video and then continue reading == >

Today's Trade of the Day | 10-3-17

AMGN-Amgen Inc 10-3-17

AMGN-Amgen Inc 10-3-17

AMGN-Amgen Inc produced two bottoming tails as the bears tried to push the stock lower but are now caught. Looking for a new swing trade long using a $188.25 buy stop. Target to sell comes in at $199.50 with a stop loss on a close below $186.

SPY ETF Chart 10-3-17

SPY ETF Chart 10-3-17


S&P 500 Heatmap 10-3-17

SP 500 Heatmap 10-3-17

SP 500 Heatmap 10-3-17

Stocks to Trade | Tuesday Edition 10-3-17

JWN-Nordstrom Stock Price Plunges

Bullish Momentum: SRPT, HRTZ, NTNX, CC, CAR, PXD, AA, LYB, LVS

Bearish Momentum:



Bearish Order Flow: pep, wba, gis, mdt, khc, k, momo

Double Normal Volume: MGM, GM, M, ETP, MDLZ, ETE, EPD, CFG, PEP, JWN, KBH, PAYX

Inside Days: vz, slb, sbux, symc, nrg, fitb, ccl, bbt, mpc, fti, dltr, syy

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