Today’s Trading Lesson…
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On the Tape Today...
NVDA | Nvidia Corp produced one of the best years on Wall Street in 2016. The order flow changed a bit in December and we began noticing distribution. This doesn't mean to short-sell, as much as, the easy money on the long side is over. After a four day consolidation, and a strong day, NVDA gives us a $107.75 buy-stop with a target to sell @ $111.75. If the stock price launches through that level, $116-$118 becomes the swing trade resistance. If the stock trades below $107, let it go.
$TGT Target Corp coming of a double inside day sets up a $71 sell-stop with a $69 target to cover. Although the trade offers solid volatility and risk/reward today, I don't see more than the target outlined. The cluster of price action between $67-69 reduces the odds of follow through beyond $69.
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Stock Market Today: Heatmap of the S&P 500
Stock Trading Today 1-10-17 | Tuesday Edition
U.S. stocks stuck in waiting game ahead of Trump’s news conference
U.S. stock futures traded flat early Tuesday, a sign the market is cooling down ahead of a much anticipated midweek news conference by President-elect Donald Trump.
Trump will hold a news conference on Wednesday, his first since July. “If Donald Trump succeeds to cheer up investors at this week’s conference, we could see a fresh rally in the U.S. stocks and the U.S. dollar.
What Happens When the President and the Fed Move in Opposite Directions?
Federal Reserve Chair Janet Yellen may well be thinking it. Jeffrey Lacker, president of the Richmond Fed, came close to saying it.
“A more stimulative fiscal outlook usually warrants higher policy rates,” Lacker said a week after Donald Trump won the presidency. Translation: Trump’s plans to stimulate economic growth could inspire the Fed to move in the opposite direction.
Goldman Makes Play for Quant Funds in Electronic Trading Reboot
Goldman Sachs Group Inc., once a skeptic of speed for its own sake in equity markets, is doubling down on automated trading.
Long a leading destination for hedge funds where humans pick what to trade, Goldman Sachs hasn’t fared as well with quantitative managers, who rely on computer strategies to make buy and sell decisions. Now the Wall Street firm says it’s trying to attract more […]
“Putin’s Not On Our Team”: Obama Worried Americans Trust Russia More Than U.S. Govt
So does this mean war?
Underlying the post-election hysteria surrounding “Russian hacking” and “fake news” is the basic issue of trust – the U.S. Government, the Congress, the media and most leaders in Washington just don’t have it. So that have to make up reasons.
Toshiba asks creditors not to call in loans: sources
Toshiba Corp (6502.T) met creditors on Tuesday and asked them not to use provisions in debt agreements to call in their loans early, giving the troubled company time to work out a turnaround plan, sources with knowledge of the matter said.
U.S. Small-Business Optimism Index Surges by Most Since 1980
Optimism among America’s small businesses soared in December by the most since 1980 as expectations about the economy’s prospects improved dramatically in the aftermath of the presidential election.
Google’s Self-Driving Minivans Arrive This Month
It’s been such a hoot reading comments from people telling me that self-driving vehicles are decades away if ever. The nay-sayers have been proven laughably wrong […]
How to Read Market Cycles
I find it helpful to think in terms of market cycles, rather than trends.
A cycle consists of both trending and non-trending components. Understanding where we’re at in cycles helps us identify whether we want to be going with strength or weakness or whether we want to fade these.
Tape Reading the SPY ETF
$SPY short-term trend broken yesterday.
Don’t get too excited, we resorted to tracking the hourly chart because the longer-term picture remains cloudy. I can’t stress strongly enough the importance of lowering risk, when reward potential drops.
Day trading mode right now. Use change from the open and the current hourly chart to define cash flow opportunities and book profits unless you have obvious room to go.
Mayer to Leave Yahoo Board After Sale to Verizon
Yahoo! Inc. Chief Executive Officer Marissa Mayer is among six directors who plan to leave the board of the investment company that will be left after the closing of the proposed sale of Yahoo’s main internet properties to Verizon Communications Inc.
Yahoo! To Become Altaba, Mayer Steps Down From Board
Yahoo! (YHOO) this evening disclosed, via an 8-K filing with the Securities & Exchange Commission, that its board of directors will be cut in half, and that the part of itself not being bought by Verizon Communications (VZ) will be renamed “Altaba.”
Yahoo! is splitting into a holding company, for the minority stake it holds in Alibaba Group Holding (BABA), and an advertising and content outfit, the latter of which is being sold to Verizon.
“Altaba” is the perfect name for what has become of Yahoo
The remains of Yahoo after its sale to Verizon will become known as Altaba.
One of the final chapters of the company’s failed-turnaround saga came the evening of Jan. 9, when Yahoo said it would change its name after the sale of its core business to Verizon was completed.
Stocks to Trade 1-10-17 | Tuesday Edition
Short-Term Trading Momentum:
Bullish Momentum: AAL, CLVS, VRTX, NVDA, SRPT, CC, HCA, EVHC
Bearish Momentum: crc, rrc, rsfp, pbf, hfc, tso, slca, etn
Quarterly Order Flow:
Bullish Stocks to Trade: CLVS, NVDA, WDC, CELG, NFLX, KMX, BA, PNC, STT, TRGP
Bearish Stocks to Trade: kss, acn, jwn, dltr, lb, dg, twlo
2x Normal Volume: ARIA, ETRM, MBLY, VRTX
Inside days: pfe, msft, ebay, nem, nke, csx, v, gps, cvs, dis, nflx, jnj, dal, bmy, slw, slb, jblu, pypl, hlt, hon, tgt, jci, low, pm, ibm, mcd, gs, unp, ba, mar, utx, ccl, rost, amtd, hrb, adsk