Today’s Trading Lesson…
[PODCAST] How Winning Traders Think Differently
Today’s education comes from our podcast Six-Figure Trading and we touch on something that is an urgent issue that doesn’t get enough attention.
The conversation starts something like this, “I know everything, but can’t make money…”
“I see the patterns, I understand the routing, I understand the setups, and I understand risk/reward. I’m looking at everything, I know everything exactly what I’m supposed to be looking at, and I’m just not converting it into money.
On the Tape Today...
MA | Mastercard Inc. quietly emerged from distribution and meandered it's way to new highs. November 2016 I was looking at the stock price as topping out and emerging in a new bearish order flow. Well here we are with a fresh pause above resistance and the stock produced well-bid momentum into fresh highs. This triggers a $109 buy-stop, a $114.50 target and a $107.75 stop loss.
Stock Market Today: Heatmap of the S&P 500
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Stock Trading Today 1-13-17 | Friday Edition
J.P. Morgan earnings: Expect a strong trading quarter and improved credit markets
Bank has enjoyed a stock rally on expectations the president-elect will scale back post-crisis regulations.
J.P. Morgan Chase & Co. is scheduled to report fourth-quarter earnings before the bell on Friday, and investors are expecting another strong quarter for trading.
What To Expect When JPMorgan, BofA, Wells Fargo Report Q4 Earnings
For bank stocks during the fourth quarter, there was “before Trump” and “after Trump.”
But as JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) lead the big banks into earnings season on Friday, Wall Street seems likely to turn its attention quickly to the latter, and how banks think they’ll fare as a new, regulation-averse administration takes office.
Trump’s Pick on Trade Could Put China in a Difficult Spot
SHANGHAI — As a top trade official, he limited the Japanese cars and steel coming into the United States. He halted talks with China on a deal that would encourage investment between the two countries. And he tried to give American exporters an edge with special tax breaks.
Be the Person You Want to Become
Here’s a very important psychological principle: When you want to make a change, clearly identify your ideal self–the person you would like to become–and make a conscious effort to be that person in some way, in some measure every single day.
Stock Exchange: Create Your Own Trading Room
Last week’s Stock Exchange illustrated how different approaches worked to generate varied ideas. If you missed last week, you will find it to be useful background for today’s topic.
In the last two weeks, the market has been relatively quiet. Dow 20K is still a gleam in the eye. Some are announcing that the “Trump Rally” is over. If you are an aggressive trader, is there any way to exploit this situation?
U.S. stock futures inch up, with bank earnings set to test Trump rally
U.S. stock futures on Friday pointed to little change at the open, keeping the Dow industrials on track for a weekly loss as investors waited for updates from the banking and retail sectors.
The ‘Apple of China’ admits it grew too quickly
Xiaomi was once hailed as an Apple (AAPL, Tech30) slayer, an ambitious startup that quickly outpaced the iPhone maker in smartphone sales in China.
Now, the company’s founder admits that he “pushed ahead too fast.”
“We created a miracle,” Lei Jun wrote in a note to employees posted this week to Facebook and WeChat. He said the company now needs to slow down to “ensure sustainable growth for a long-term future.”
Visualizing Donald Trump’s $20 Trillion Problem
Only a few days after Trump’s inauguration ceremony, the U.S. National Debt will creep across the important psychological barrier of $20 trillion.
It’s a problem that’s been passed down to him, but, as Visual Caitalist’s Jeff Desjardins notes, it certainly puts the incoming administration in a difficult place. The debt is burdensome by pretty much any metric, and the rate of borrowing has exceeded economic growth pretty much since the late 1970s.
SpiceJet plots expansion with order for 100 new Boeing planes
Indian budget airline SpiceJet said on Friday it has agreed to acquire 100 new MAX 737 aircraft from Boeing, with an option for 50 more, as part of its expansion plans in the world’s fastest growing aviation market.
Tape Reading the SPY ETF
$SPY price action at first glance looks neutral…
But yesterday provided an amazing lesson in time frame analysis and how to adjust to “what the market gives you.” For weeks now I have preached don’t over trade but pay attention to the open price and the current hour.”
Yesterday was a purely perfect lesson.
The bottom tail/hammer leading to multiple bullish hours on an otherwise incoherent day. Study this chart and compare it to every stock you traded yesterday. This pattern plays over-an-over again.
The setup keeps you out of trouble on less than obvious days, and offers amazing opportunity on days when order flow is obvious.
Leave a comment if you have any questions.
Wells Fargo Q4 Earnings Coming Up: What to Expect (WFC)
Wells Fargo & Company (WFC) is set to report fourth quarter fiscal 2016 earnings results before the opening bell Friday. Wells Fargo shares closed Wednesday at $54.80, up 0.33%.
The stock has declined 0.56% year to date, while climbing some 21% over the past three months. Wall Street expects the embattled money center bank to deliver a year-over-year decline in profits but a rise in revenue.
Troubled Wells Fargo will look to reassure investors with earnings
Wells Fargo will close out one the most difficult years in its 165-year history by trying to convince investors that the future remains bright.
The second-largest U.S. bank by assets operated under a dark cloud during 2016. Revelations during the year that Wells Fargo employees had created false accounts for some 2 million customers as part of a practice known as cross-selling created scandalous headlines and shook investor confidence.
What to expect from Wells Fargo earnings: Impact of sales-tactics scandal
Mortgage bank is reporting fourth-quarter numbers before the bell on Friday. Wells Fargo & Co., in the news for its sales-practices scandal for the past four months, is expected to report its fourth-quarter results before the market opens Friday.
Here’s what you need to know.
Stocks to Trade 1-13-17 | Tuesday Edition
Short-Term Trading Momentum:
Bullish Momentum: CLVS, ACAD, SRPT, LLY, CNC, IONS
Bearish Momentum: x, cop, mnst, dvn, hfc, sm, twlo
Quarterly Order Flow:
Bullish Stocks to Trade: CLVS, MA, ALXN, FB, UNH, IBM, TSLA, KMX, HCA, ADSK, BA, SLCA, GS, STT, WDC, NFLX, PNC, ADNT
Bearish Stocks to Trade: mnst, pbf, urbn, myl, lb, tgt, dltr, twlo, m, dg (descending wedge), jwn, kss
2x Normal Volume: HES, MRK, SWKS
Inside days: wfc, teva, azn, bsx, gps, jd, slb, gsk, celg, adm, dhr, wba, amgn, esrx, cah, peg, hca, etn, fslr