Today’s Trading Lesson…
Learn the Basics of Order Flow | Free Course
Trading education gets a bad rap.
You pay to learn. We all do. It’s just whether we pay with time, or pay for another trader’s experience.
If you pay with time, your learning curve takes longer. Earning your trading education through trial and error becomes expensive, and let’s be honest, it’s exhausting. If you pay for experience… if you find a trusted mentor, you reduce the cost of learning and speed up the path to success.
This new training course, TRADING ESSENTIALS provides the foundation to earn while you learn.
Learn more and enroll for free today.
Become a Better Trader. Get Notified.
On the Tape Today...
ADNT | Adient PLC showed a strong day relative to the general stock market and flirted with a $59 breakout...again. Looking for an early entry on a buy-stop above the high of the first half hour of trading, if the price is above $59. If the trade triggers, my target is $62 on a two day swing trade.
AAPL | Apple Inc. sets up an interesting volatility play today. Interesting because the stock price continues to hold above the $118 break out level and offers an inside day set up. Looking for a buy stop to trigger for a new multi-day trade. If the stock trades below yesterday's low, the plan is to exit the trade.
Stock Market Today: Heatmap of the S&P 500
Stock Trading Today 1-11-17 | Wednesday Edition
Wall Street stocks on pause as investors wait for cue from Trump
Merck, KB Home could be active ahead of the open
U.S. stock futures were treading water Wednesday, as investors stayed on the sidelines ahead of a much-anticipated press conference from President-elect Donald Trump.
“If the press conference does not give direction to the markets, then this consolidation could continue to Trump’s inauguration next Friday,” said Richard Perry, market analyst at Hantec Markets, in a note.
China’s central bank launches spot checks on bitcoin exchanges
China’s central bank said on Wednesday it launched spot checks on major bitcoin exchanges in Beijing and Shanghai, knocking the price of the cryptocurrency down by more than 6 percent.
The probe of bitcoin exchanges, including BTCC, Huobi and OKCoin, was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing, the People’s Bank of China (PBOC) said. It did not say if any violations had been found.
Shark Tank’s Kevin O’Leary Thinks We Should ‘Hail King Trump’
“Shark Tank” star Kevin O’Leary senses a comeback for the U.S. economy.
“I think the next five years are going to be just amazing, and ‘Hail King Trump’ is what I say,” O’Leary said in a recent Q&A session at Benzinga’s Detroit office.
Asserting interest in fewer taxes and fewer regulations, O’Leary expressed optimism about the U.S.’s developing economic climate.
Volkswagen Set to Plead Guilty and to Pay U.S. $4.3 Billion in Deal
Volkswagen is on the verge of pleading guilty to criminal charges and paying $4.3 billion in fines, in a deal that would resolve a federal criminal investigation into its cheating on vehicle emissions tests, the automaker said on Tuesday.
U.S. Intelligence Agencies Have No Clothes
At this point, pretty much everyone in America has seen the results of Hillary Clinton media pet, John Harwood’s recent Twitter poll.
The significance of the above cannot be overstated. U.S. intelligence agencies, like so many other national institutions, have lost nearly all credibility in the eyes of the American public.
The Obama bull market: A 140% jump in the Dow
If Donald Trump is lucky, he may never be faced with a market crash as gruesome as the one that welcomed President Barack Obama when he first took office in 2009.
Alibaba’s 1 million American jobs promise isn’t realistic
Alibaba founder Jack Ma met with Donald Trump Monday and pledged to create one million jobs in the U.S. over the next five years through the company’s e-commerce platform.
That is a vague and misleading promise.
How To Trade A Stock After It Hits An All-Time High
The markets are in unchartered territory, and some of blue chips such as Netflix, Inc. NFLX and Berkshire Hathaway Inc. are there too.
The euphoria of an index/stock hitting an all-time high usually triggers fears of a pullback (falling back of a price from its peak) or correction (a pullback quantified as at least 10 percent from the peak) or even a reversal (a positive or negative change against the prevailing trend).
Tape Reading the SPY ETF
$SPY price action showing a short-term double top on the hourly chart.
With a pathetic 65 million shares traded yesterday, I am not reading too much into the pattern. If the $SPY enjoyed a solid trend and pause on the same light volume, absolutely. But that’s not the case.
The only solace from the double top? A short sale has the most room-to-go, but obviously that scenario moves against the bullish order flow.
Bottom line? Day trading mode and scan the list below for fresh, stock specific ideas.
Goldman Sachs could earn an extra $3 billion from a major trading rebound
FICC — trading business on Wall Street, and one bank stands to win big from it.
Goldman Sachs could earn as much as $3 billion in additional revenues over the next two years, according to UBS analyst Brennan Hawken. In a recent note, he forecast a $15 billion recovery in FICC revenues for the bulge bracket firms, bringing the wallet back to 2011-2013 averages.
Goldman, being the best-positioned FICC franchise in Hawken’s view, could stand to capture one-fifth of the revenue expansion.
Why Goldman Sachs Group Inc (GS) Could be About to Take Off
The months since the U.S. presidential election have been a whirlwind for many stocks, and banks have been among the biggest beneficiaries.
But many of these financial names have also been taking a breather over the last few weeks. Among these is Goldman Sachs Group Inc (NYSE:GS) — which is up roughly 33% from its Nov. 8 close, but has been stalling out in the $240-$245 region since early December.
Stocks to Trade 1-11-17 | Wednesday Edition
Short-Term Trading Momentum:
Bullish Momentum: ETRM, SRPT, ZBH, ADNT, IONS, TMUS, UAL, AKAO, AAL
Bearish Momentum: wmb, crc, vtr, tsn, sm
Quarterly Order Flow:
Bullish Stocks to Trade: ADNT, UAL, BIDU, KMX, BA, COST, PNS, GS, UNH, TSLA, NVDA, NFLX, CLVS, WDC,
Bearish Stocks to Trade: tsn, twlo, m, lb, kss, dg, jwn
2x Normal Volume: WMB, ARIA, SRPT, AXP, TSO, ZBH
Inside days: aapl, kmi, x, ms, sbux, qcom, celg, nue, wdc, lly, rrc, aet, gsk, mbly, dd, hca, mur, mar, bbby