The stock market continues to provide the volatility needed for short-term traders to succeed.
This is a good thing right? It is, if it’s consistent.
Day traders are dealing with hours of consolidation, go to lunch, and you miss the trend.
Trading for a living is now a full-time business. Say goodbye to the glory days of trade the morning, and go home at 11.
I think this is a good thing. It weeds out those who think trading is easy.
Pete’s Day Trading Notes:
- GOOGL sits on top of the world.
- Quite a few stocks in multiple day ranges. Be patient wait for the breakout.
- Oil set to open lower again.
- UPS, KORS and PFE earnings before the bell.
Stock Market Today: Map of the S&P 500
(click the map for a full view)
–> Top 25 Proprietary Trading Secrets
$SPY second close above the 20 ema on the daily chart. Set for a lower open, $192.74 is the level to watch for bullish traders.
(click the chart for a full view)
— Paladin Registry (@PaladinRegistry) February 2, 2016
Fear and Loathing of the Stock Market
Unfortunately for most people when it comes to the stock market, they can’t live with it and can’t live without it. With interest rates so low that many income investments can’t keep up with inflation, especially after taxes, the stock market has been a go to place for many looking for growth. Many who are looking to retire, or want to keep pace with inflation, have been left with a choice of losing buying power by investing in low return income investments or taking on more risk by investing in the stock market.
The stock market seems like any relationship: when it’s good, it’s very good and when it’s bad, it can be depressing. We love to love the markets when they’re cooperating but we sure hate to hate them when things fall apart. We buy the ticket and take the ride but occasionally things get a little heavier than what we had in mind.
Recently, the Dow Jones and other stock market indices are testing the recent lows of the correction that occurred back in August of 2015. The recent plunge in stock values are partly based on investor fear and the hatred of losing money.
Stock Market Volatility Continues 2-2-16 | Stocks to Trade
$BABA Short-Sale Triggers Below $65.50
Today, Wall Street analysts reduced price targets on electric automotive giant Tesla Motors Inc (NASDAQ:TSLA), Chinese e-commerce giant Alibaba Group Holding Ltd (NYSE:BABA) and action camera giant GoPro Inc (NASDAQ:GPRO). Below … The post Analysts Cut Price Targets On Three Popular Stocks: Tesla Motors Inc (TSLA), Alibaba Group Holding Ltd (BABA), GoPro Inc (GPRO) appeared first on Smarter Analyst.
Yahoo was expected to announce cutbacks along with its Q4 earnings Tuesday, and a new report Monday says CEO Marissa Mayer likely will announce several business units and up to 15% of the company’s workforce will be axed.
Alibaba Group Holding Ltd (NYSE: BABA) shares are trading lower by $1.03 at $66 in Monday’s session. The issue, which did not react well last week to a better-than-expected Q3 report, is testing a major support level in Monday’s session.
— Jeff Macke (@JeffMacke) January 28, 2016
(click the chart for a full view)
Stocks to Trade 2-2-16
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: XON, SAVE, TWX, PYPL, FB, FL, DUK, HCA, HBI, WMT, CMI, VFC, AR
Negative last 20 and 5 trading days | closed 2% lower from the open: txt, wpz
Quarterly Order Flow:
Bullish Stocks to Trade: AVGO, FB, FL, NKE, DG, TJX, GOOGL, NEE, SBUX, ACN, DLTR, FSLR, MCD, JNJ, PM, LULU
Bearish Stocks to Trade: dvn, bmy, stt, cop, mck, lyb, pru, akam, abc, vmw, kmx, hog, celg, crm, tso, car, cf, ba, ual, gild, tif, unp, vrtx, luv, uri, axp, nflx, wdc, tsla,
20 Day Breakdown: clvs, agn
20 Day Breakout: XON, PYPL, FB, DUK, AEM, HCA, AEM, HCA, TSN, WMT, WEC, O, ED, AEP, NEE, VFC, YUM, PCG, ROST, DLTR, CCI, ACN, EIX, CRUS, COH, RAI, JNJ, COG
2x Normal Volume: ABT, D, DUK, KMX, RCL, HOLX, AFL, CIT, GOOGL, TAP, GOOG
Inside days: ge, aapl, csco, wfc, cop, slb, emc, cvx, pg, schw, clr, dis, ea, wdc, amzn, usb, met, lvs, ma, mos, hon, myl, ua, cl, sti, dhi, cof, lly, stt, hog, gs, akam, dhr, mmm, mon, tol, lulu, pxd, hig, fdx, len