Today’s Trading Lesson…
Trading Advice | From My Trading Journal 2000-2015
Trading advice is easy to get. Everyone has an opinion.
The key to moving forward as a successful trader is implementing trading advice that matters to your unique experience.
This is why the best advice you will ever receive, is from yourself. The quickest path to success begins with a brutal assessment of your progress.
Keep a trading journal religiously. It will end up as the most important trading book you ever read.
My goal is not so much to give you specific ideas, but to give you a direction for what to expect and how to succeed.
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On the Tape Today...
TSLA | Tesla Motors continues it's bullish order flow with an energy candlestick through the $235 resistance. Looking for a $238 buy-stop with a swing trade target of $254.50. Planning to exit on a close below the $235 breakout level.
VFC | VRF Corp produce solid relative weakness on Friday and closes near the lows. Looking for a $51 sell-stop and a swing trade target of $48.50. $51.50 stop loss.
Stock Market Today: Heatmap of the S&P 500
Stock Market Today 1-17-17 | Tuesday Edition
Russell 2000 Comes Back From The Brink
There was no wiggle room for the index heading into Friday as it managed to claw back the ‘breakdown’.
It went one step better and posted one of the better performances on Friday. While the index has come back from support, it hasn’t yet challenged the consolidation ‘bull trap’ – but look for this on Monday.
10 Stocks That Have Short Sellers’ Attention So Far In 2017
The S&P 500 is off to a great start so far in 2017, climbing 1.4 percent in the first two weeks of the year.
The big banks kicked off Q4 earnings season this week, and short sellers have been positioning themselves for what will surely be some extreme earnings volatility in coming weeks.
Dollar Tumbles After Trump Calls Currency “Too Strong”, Slams Border-Adjustment Tax
One can probably put the time of death of the Trumpflation rally as 11:47pm on Monday night.
That’s when the WSJ published the latest excerpt of its Friday interview with Donald Trump, in which the president-elect himself said the dollar was already “too strong”and blamed this is in part due to China holding down its currency and added that “our companies can’t compete with them now because our currency is too strong. And it’s killing us.”
Bank Of America: Now Is Not The Right Time To Sell Shares
Bank of America (NYSE:BAC) is a company that I have written about a lot over the past two plus years, and the conclusion of each of my articles has been the same – buy BAC shares for the long term because the bank has great business prospects, with several catalysts in place.
BAT agrees to buy Reynolds for $49 billion
British American Tobacco (BATS.L) has agreed a $49.4 billion takeover of U.S. rival Reynolds American Inc (RAI.N), creating the world’s biggest listed tobacco company after it increased an earlier offer by more than $2 billion.
BAT, which already owned 42 percent of Reynolds, will pay $29.44 in cash and 0.5260 BAT shares for each Reynolds share, it said, a 26 percent premium over the price of the stock on Oct. 20, the day before BAT’s first offer was made public.
Rolls-Royce will pay over $800 million to settle bribery charges
Tangled up in corruption investigations on three different continents, Rolls-Royce will shell out more than $800 million to deal with the legal fallout.
The British engineering giant says it has reached settlements with authorities in the U.K., the U.S. and Brazil over bribery allegations it is facing across the globe.
Nervousness over Brexit, Trump drive gold to fresh 8-week highs
Gold jumped to fresh eight-week highs on Tuesday as wary investors shied away from riskier assets such as stocks, amid nervousness ahead of a Brexit-focused speech from U.K. Prime Minister Theresa May and recent comments from President-elect Donald Trump.
Gerard Adams on Success, Inspiration and Leadership
Whether you’re an aspiring entrepreneur or the founder of a multi-million dollar company, we all have something to teach each other.
In his video series Leaders Create Leaders, Entrepreneur Network partner Gerard Adams seeks to inspire others by meeting with a number of entrepreneurs and hearing their stories.
Tape Reading the SPY ETF
$SPY winding tighter for a big move. With the presidential inauguration this week, and plenty of earnings reports, we should get volatility. The defined range in the $SPY limits upside potential unless we see new highs.
The NASDAQ produced solid opportunities last week but reached a saturation point and stalled. The better trade from the long side remains a lower open.
A few stocks such as NFLX, TSLA and FB broke out, keep an eye on those for follow through. Looking for continued volatility from financial earnings from Friday.
What to watch in UnitedHealth’s (UNH) earnings
UnitedHealth will be the first major health insurer to report earnings, as Republicans in Congress have taken steps toward the repeal and replacement of Obamacare.
Analysts will be looking for reaction from the insurance and hospital players this earnings season. Though, United CEO Stephen Hemsley was reluctant to weigh in with specifics when asked about the health reform process earlier this month.
What to Expect in UnitedHealth Q4 Earnings (UNH)
UnitedHealth Group Incorporated (UNH) is set to report fourth quarter fiscal year 2016 earnings results before the opening bell Tuesday. UnitedHealth’s Optum health services unit, which last week agreed to acquire Surgical Care Affiliates Inc. for about $2.3 billion, will likely be the main focus of the conference call with analysts.
The deal, which will be funded with a combination of cash and stock, will significantly expand the footprint of UnitedHealth.
Stocks to Trade 1-17-17 | Tuesday Edition
Short-Term Trading Momentum:
Bullish Momentum: AKAO, CLVS, TSLA, SRPT, TECK, FSLR, AEM
Bearish Momentum: sm, bhi, dks, wynn
Quarterly Order Flow:
Bullish Stocks to Trade: CLVS, TSLA, NFLX, LRCX, FB, STT, WDAY, PNC, KMX, WDC, BA, GS
Bearish Stocks to Trade: mnk, jwn, tgt, kss, vfc, m, lb
2x Normal Volume: HES, CLVS
Inside days: msft, hes, tsm, mgm, xom , bmy, dal , atvi, ctsh, myl, cvx, jci, sbux, rai, jblu, oxy, aal, vlo, unh, aa, hlt, mcd, aet, luv, cag, ual, lvs, gis, wynn, urbn,