Today’s Trading Lesson…
My best trading advice for 2017 starts and ends with your P&L statements.
Go log in to your trading account, or open the pile of envelopes on your desk. It’s time to learn from your results.
I know it hurts. You don’t want to see what happened, but it’s the fastest way to improve. You put in the time, you made the trades and you produced results.
Good or bad, you produced results.. Now learn from them.
How detailed does your strategy look? Can you explain the concept to a non-trader? Yes, it needs to be that simple.
Which stocks earned you the most? Which stocks gave you fits? Did you earn more swing trading or day trading? If swing trading, why bother day trading?
If I could go back to April of 2000 and give myself advice, here it is: “Pay attention to what works. If you don’t, you will feel close for years but never turn the corner….”
Specialize and pay attention.
On the Tape Today...
$CLVS offering a clean bull flag after a solid momentum breakout above $40. Today sets up a $45 buy-stop with an initial target for a day trade of $46.75. (see chart)
TWLO remains in solid selling order flow...but we see signs of institutions stepping in and buying shares. A good chance the $28 support gets penetrated and traps bearish traders looking for a new leg down. Clearly the stock is not a long, but the short side is waiting to drain your wallet.
Stock Market Today 1-2-17
China Twitter boss leaves after seven months
Kathy Chen announced she was leaving following a restructure of the business in Asia. While Twitter is blocked in China, it lets Chinese advertisers reach a global audience. It is also very popular with Chinese dissidents based in the West.
Ms Chen is the latest in a string of high-profile Twitter executives to depart from the firm.
Which Wall Street Firm Made The Best Stock Picks Of 2016?
Now that 2016 is coming to a close, most Wall Street firms are coming out with their top stock picks for 2017.
But before traders go all in on the latest round of Wall Street recommendations, it may be wise to take a look back at the picks some of these firms made for 2016 to see which analysts have been delivering the best returns.
Macau Gaming Revenue Rises 8% in December Casino revenue in Macau increased in December, extending the industry’s recovery to a fifth month as the Chinese gambling hub’s efforts to reinvent itself drew more tourists from beyond China.
Gross gaming revenue rose 8 percent from a year earlier to 19.8 billion patacas ($2.48 billion), according to data from Macau’s Gaming Inspection and Coordination Bureau, following a 14.4 percent increase in November.
The Most Popular Investor Picks for Emerging Markets in 2017 These are some clear favorites among investors for 2017.
All things Russian and Indian are popular, as are Brazilian corporate bonds and Mexico’s cheap peso. The top calls for this year are centered on markets where the political climate is improving and assets are less vulnerable to external shocks arising from higher U.S. borrowing costs and President-elect Donald Trump’s policy announcements.
Opinion: U.S. stocks riding a bull market in corruption Financial stocks are responsible for much of the U.S. market’s recent move, and the rally in financials is rooted in hopes for government deregulation of the industry.
Can Carbon Capture Technology Prosper Under Trump?
THOMPSONS, Tex. — Can one of the most promising — and troubled — technologies for fighting global warming survive during the administration of Donald J. Trump?
The technology, carbon capture, involves pulling carbon dioxide out of smokestacks and industrial processes before the climate-altering gas can make its way into the atmosphere.
How George Soros Destroyed The Democratic Party
It was the end of the big year with three zeroes. The first X-Men movie had broken box office records.
You couldn’t set foot in a supermarket without listening to Brittney Spears caterwauling, “Oops, I Did It Again.” And Republicans and Democrats had total control of both chambers of legislatures in the same amount of states. That was the way it was back in the distant days of the year 2000.
My 2017 Predictions – Amazon Will Buy Twitter, Netflix Grows Alone, and OMG the IPO’s and Deals….
I am soooo Netflix and Chilled out as 2017 begins. I was left alone over the holidays and I fell into a content sucking coma of Netflix and Amazon. I am now in the middle of Netflix new series The OA which is interesting.
I am deep into season 3 of Downton Abbey with Ellen and have only gotten off the couch to ride or hit the gym the last 7 days. I have so many content ideas swirling in my head. I am pretty inspired by all that I have been watching and reading.
Stock Market Today: Heatmap of the S&P 500
Tape Reading the SPY ETF
$SPY traded a respectable 108 million shares on Friday.
Last weeks’ trading saw mostly selling, I expect a lower open today to find support. The longer term trend (since the presidential election) remains intact, but there are signs of indecision.
A long bias for the general market represents the correct analysis, but the upside is limited unless we see new all-time highs. Since we received selling momentum that ended with higher volume, today’s lower open should see the bull step back in.
I’ve spoken to many traders that believe the Trump bump is over, and selling for tax purposes creates a bearish sentiment for January 2017. Sounds good on paper but it’s only an opinion.
Don’t get caught up in the BS. Nobody knows what’s going to happen next month. Let’s continue to watch the charts and trade what we see.
Tesla missed its target to release its big Autopilot update before the end of the year, but it’s almost ready.
When electric-car maker Tesla Motors (NASDAQ:TSLA) announced its Autopilot 2.0 sensors in October, Tesla CEO Elon Musk said he hoped to begin rolling out major software updates for the new technology before the year ended.
But with only one more day left in the year, it’s not looking like Tesla will meet its target. However, the software is “almost there,” Musk said in a tweet on Thursday.
Continue Reading on fool.com
Tesla Rolling Out Autopilot Software Updates to 1,000 Cars
Tesla Motors Inc. began rolling out software updates to customers with newer cars, bringing them to parity with owners who have what’s known as “Autopilot 1” and setting the stage to ultimately unleash full self-driving capability.
“HW2 Autopilot software uploading to 1,000 cars this eve. Will then hold to verify no field issues and upload to rest of fleet next week,” Tesla Chief Executive Officer Elon Musk said in a Twitter post on Saturday.
The end-of-year software update comes as the automotive and technology industries prepare to descend on Las Vegas for the annual Consumer Electronics Show and Detroit for the North American International Auto Show.
Stocks to Trade 1-2-17 | Monday Edition
Short-Term Trading Momentum:
Bullish Momentum: CRC
Bearish Momentum: aa, swks, nue, amzn, ea
Quarterly Order Flow:
Bullish Order Flow: CRC, ADNT, CLVS, KMX, PNC, GS, JPM, DFS, LW, BA, SLCA, CVX, DE, MPC, DIS, IBM, VLO, XLNX, WDC, TMUS, TRGP, NVDA
Bearish Order Flow: twlo, m, trip, urbn, vrtx, crm, jwn, srpt, expe, tgt, dltr, kors, baba, mnk
Double Normal Volume: NVDA
Inside Days: bac, c, wfc, jpm, baba, ms, abbv, fitb, met, bbt, axp, stx, mat, gs, coh, peg, pnc, etfc, kors, pru, acad, skx