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.
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On the Tape Today...
$ADBE | Adobe Sys continue to flirt with the $100 level. Looking for a $110.25 buy-stop today. If the stock gaps through the trigger, my game plans has me waiting for the same price as a limit order or a breakout of the first hours trading range. A stop loss planned for a close below $110. Initial target @ $115
$DKS | Dicks Sporting Goods reached a Saturation Point yesterday but continues to offer solid selling order flow. Keep it in your tracking journal for an upcoming swing trade. Looking for a pause on light volume @ $50 then a new short sale with a target to cover @ $42.50
Stock Market Today: Heatmap of the S&P 500
Stock Market Today 1-20-17 | Friday Edition
Investors await Trump inauguration; Drugs battle; GE earnings
Here are the stock market’s biggest winners and losers during Obama’s presidency
As Barack Obama makes the switch from president to former president, analysts are looking back at how stocks fared during his eight years in office.
Silverblatt — who has been called the “high priest of stats” — also has shared data on the S&P’s biggest winners and losers.
Investors pull cash from stock funds ahead of Trump inauguration
Investors pulled $3.1 billion from U.S.-based stock funds over the last week, Lipper data showed on Thursday, showing a waning appetite for risk ahead of Donald Trump’s inauguration as U.S. president.
The withdrawals are a first for U.S. stock funds this year, according to Lipper. The funds had been buoyed by Trump’s November U.S. presidential election victory and the surprising equity rally that followed.
Galaxy Note 7: Samsung set to reveal what made the phones explode
Samsung is finally ready to answer the burning question of what caused its Galaxy Note 7 phone to catch fire.
The world’s biggest selling smartphone maker will hold an event Monday (late Sunday in the U.S.) to reveal the results of a months-long investigation into why some Note 7 devices burst into flames while charging.
4 Reasons Adam Jonas Upgraded Tesla And Lifted His Target To $305
Morgan Stanley’s Adam Jonas was once referred to as Wall Street’s “Tesla Motors Inc TSLA cheerleader,” given his bullish stance on the electric automaker. He downgraded Tesla’s stock in mid-2016 to Equal-Weight from Overweight with a price target slashed to $245 from $333.
What are the Trading Lessons You’d Want to Teach Your Younger Self?
A very helpful post from Bella at SMB asks the question of what you would tell your younger trading self. What lessons have you learned that you would have wanted your beginner self to know about?
“He Is Going To Fail”: Georges Soros Slams “Would Be Dictator” Trump
Billionaire investor George Soros spoke to Bloomberg TV in Davos, and said the euphoria among stock investors since the victory of President-elect Donald Trump will end as uncertainty takes over.
In an interview that may have been even gloomier than his last address to Davos in January 2016, when he said he was short the market, predicted a Chinese hard landing, and said the Fed’s hike was a mistake, on Thursday Soros unleashed the hate, saying America has elected a “would-be dictator” as president, […]
Hammond Suggests U.K. Safety Net If Brexit Talks Overshoot
Chancellor of the Exchequer Philip Hammond raised the prospect of a safety net for Britain in the form of an interim arrangement with the European Union if Brexit negotiations cannot be concluded in 2019.
China’s Economy Grows Strongly, Yet Central Bank Eases Policy
BEIJING — China’s economy firmly hit its growth target last year and even accelerated a bit at the end. In most countries, that would be seen as unequivocally good news.
But this is China, where figures are sometimes doubted and where economists look for signs of strain underneath the numbers.
Protesters Planning to Disrupt Donald Trump’s Big Day
Washington (AP) — Hundreds of thousands of people are expected to fill the nation’s capital for the inauguration of Donald Trump, and while the majority of those expected in Washington on Friday will be there to celebrate, some protesters say their plan is to do their best to disrupt the day.
Why The McDonald’s Story of The Founder Made The Perfect Entrepreneur Movie
Today, we are all connoisseurs of the entrepreneurial arc.
A comedy such as HBO’s “Silicon Valley” only works if the audience gets what it’s sending up.
But if much is familiar about “The Founder”–the new movie about McDonald’s impresario Ray Kroc, who wasn’t a founder but took over the chain from the bedrock-moral brothers Dick and Mac McDonald —
–is familiar, it is also an instant classic of its type, hitting virtually every note on the startup story scale. Its telling of the six-decades old McDonald’s saga makes it the quintessential contemporary entrepreneurial tale.
Tape Reading the SPY ETF
$SPY pennant continues to coil.
Not going to over analyze the consolidation heading into the inauguration. Suffice it to say a big move is coming. Volatility is coming. If you’ve done a good job of trading with discipline, you are in a good position to net money the balance of January.
Keep an eye on the $VIX rising. When it does, plan to hold trades longer.
Schlumberger Q4 Earnings on Tap: What to Expect (SLB)
Schlumberger Limited (SLB) will report fourth quarter fiscal 2016 earnings results before the opening bell Friday. The Houston-based oilfield services company has been the beneficiary of the rebound in oil prices, which have risen around 25% over the past several months.
What To Expect From Schlumberger’s Quarterly Earnings
Analysts see Schlumberger’s (SLB) fourth-quarter earnings and revenue falling due to steep discounts offered during the period, but it’s unclear whether the oilfield service provider will reverse the tide and announce price increases for 2017.
Schlumberger’s earnings are expected to plunge 58.5% to 27 cents per share with revenue down 8.7% to $7.07 billion when the company announces quarterly results Friday.
Stocks to Trade 1-20-17 | Friday Edition
Short-Term Trading Momentum:
Bullish Momentum: AA, TMUS, AKAO, CSX
Bearish Momentum: x, stld, nue, jwn, kors, stx, kss, dks
Quarterly Order Flow:
Bullish Stocks to Trade: NFLX, UNP, TSLA, KMX, CLVS, SLCA, AVGO, WDAY, TRGP, TRGP, FB, COST LRCX, WDC
Bearish Stocks to Trade: jwn, kors, kss, tgt, dks, dg, xom, gild
2x Normal Volume: CSX, NFLX, TGT, UNP, MNK, FSLR
Inside days: x, fb, qcom, mnk, symc, m, wmb, vfc, dis, unh, wdc, fast, crm, ual, cl, cag, cah, bbby, mnst, clr, fslr, acad