The quickest method to improve your trading is with a checklist…
The biggest problem I see for struggling traders is hesitating and missing entries. Waiting for the perfect moment in time, waiting for “too much” confirmation.
Here is a great place to start:
- Identify Order Flow: If you are a swing trader, this can be a trend on the weekly chart going back 18 months. If you day trade, this can be the last 3 months.
- Identify Momentum: How has your stock traded the last 3-5 days? This will tell you if there is room to go, if you should wait for a pause, or if you should trade a breakout, such as an inside day pattern.
- Identify the Day Trade: minimum criteria (for a long)- above the open, net positive, best case above the previous day high. For swing trades you can use the same criteria on a weekly chart.
It sounds simple, but it works. The more definitive your criteria, the easier it will be to repeat your success. Without it, your results will be random.
Stock Market Today: Map of the S&P 500
(click the map for a full view)
–> Top 25 Proprietary Trading Secrets
SPY price action ended the day “well-bid.” This means the daily candlestick chart completed a higher-high, and higher-low. This shows short-term support by the institutions.
Today we need to see the SPY remain above the open price, to trade long with conviction.
(click the chart for a full view)
Starbucks Earnings Disappoint 1-22-16 | Stocks to Trade
Starbucks’ first-quarter revenue miss and below-forecast second-quarter guidance pushed shares lower late Thursday, but management said it was “very bullish” about the coffee shop giant’s prospects abroad as it kept the focus on China. “We just can’t wait to introduce Mobile Order and Pay in China because it’s going to be a runaway success,” said CEO Howard Schultz during the earnings call. Revenue in China and Asia Pacific jumped
Starbucks offered a soft earnings outlook for its current quarter, despite posting strong core sales growth and better-than-expected profit for the fiscal first quarter.
Investors are selling shares of Starbucks Corporation (NASDAQ: SBUX) in Thursday’s after-hours trading session. The market is reacting to quarterly results, which were better than Wall Street analysts had been expecting, but guidance was light.
Starbucks (SBUX) turned in mixed results after the close Thursday, as revenue fell slightly short of Wall Street expectations, but same-store sales growth in the Americas significantly accelerated. Earnings rose 15% to 46 cents a share excluding various items, pulling ahead of views for 45 cents a share. Revenue grew 12% to $5.37 billion, missing views for $5.39 billion. It was the smallest sales gain in five quarters. Global comps rose 8% vs. a
Starbucks Corp. (NASDAQ: SBUX) reported its fiscal first quarter financial results after the markets closed on Thursday. The coffee giant had $0.46 in earnings per share (EPS) on $5.37 billion in…
Visit www.marketwatch.com or the quote page for more information about this breaking news.
Pete’s Trading Notes:
- The trading bottom we called yesterday is in. IT was uneventful after the first hour, but the supply was held off for a day.
- The stock market should be called the “follow the crude oil market.” (similar to 2007-2008)
- One more day of stock prices moving higher sets up a short-sale trade on Monday, especially with a higher open.
Technical Analysis | Charts of Interest
The chart of Goldman Sachs today is a great example of using technical analysis, in multiple time frames. On the chart to the right, which is a daily chart, there is clearly a downward sloping trend. This is a clear sell-short trade.
The chart to the right, which is a weekly chart, shows support, a triple bottom chart pattern. This implies, support, an area where buyers, or demand, can be expected to return.
The stock is a sell-short, but not a sell-short now.
(click the chart for a full view)
Stocks to Trade 1-22-16
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: RRC, OKE, COG, SE, SAVE, CBS, FL, AR, COH, GPOR, ANF, M
Negative last 20 and 5 trading days | closed 2% lower from the open: scty. stx, amba, nflx, wdc, sndk, schw, bk, vlo, bwa, clvs, lrcx, cma, ms, fit
Quarterly Order Flow:
Bullish Stocks to Trade: FSLR, MCD, DLTR, NEE, BXLT, ANF, MYL, TSN, CPB, COH, O, LULU, WMT, DG, PG
Bearish Stocks to Trade: apc, etp, car, dvn, cf, wdc, lng, hes, nfx, akam, bwa, thc, cop, ua, stx, ksu, bbby, eog, c, unp, lnc, tif, nbl, aer, stt, fdx, kmx, lyb, scty, swks, ual, apa, axp, gs, cof, esrx, mar, mpc, adi, aapl, ups, pru, dis, cat, gild, ibm, ma, jpm, ba, nsc, mjn, cvx, tgt, pnc
20 Day Breakdown: nsc, sbh, sabr, gis, gs, sndk, bbt, stx, bk
20 Day Breakout: AR, COG, DKS, EQT, GPOR, RRC, SAVE, SE, T
2x Normal Volume: SCHW, SBUX, COP, UNP, ACE, XLNX, STX, BHP, NFX, AMTD, LLTC, SNDK, AER, ED, MCHP, EQT
Inside days: aapl, csco, pfe, nflx, xom, ms, ko, gild, abt, cfg, kr, celg, brcm, mpc, amtd, mo, bmy, wfm, pm, unh, lly, amgn, fox, crm, acn, wba, teva, wynn, lrcx, ea, dhr, rai, tif, rost, ir, mjn, tso, fdx, hcn, nee, abma, crus, ilmn