Today’s Trading Lesson…
Mentor Minutes | How to Develop High Probability Scenarios…
Winning Trades have a structure. Top traders make money because they have a system. Learn how to scan for the best ideas
The key take-away from the meeting; is understanding the reasons why a trade might be a good idea, but also why it may not be a good idea right now.
On the Tape Today...
FB | Facebook produced a textbook bull flag after solid momentum. Looking for a $129 buy-stop or a breakout of the first 30 minutes (if a lower open). Sets up a $133 target to sell and expecting two days of well-bid price action to take the stock price to the target.
XOM | Exxon Mobile continues to see selling order flow with only minor support blocking a move lower. This sets up a short-term trade, $84.50 sell stop and an initial target to cover @ $82. If this level breaks on solid volume, a longer-term swing trade triggers down to $74. == >> OXY setting up a similar short sale.
Bid/Ask Tutorial: Stock Trading Lesson for Beginners
Stock Market Today: Heatmap of the S&P 500
Stock Market Today 1-24-17 | Tuesday Edition
Gilead Clobbered On Hep C; ‘Little Value’ In ‘Too Late’ NASH, HIV Units
Gilead Sciences (GILD), Amgen (AMGN) and AbbVie (ABBV) underperformed in Q4, Leerink analyst Geoffrey Porges predicted Monday — the fourth analyst in a week to hammer Gilead for declining hepatitis C drug sales.
In the stock market today, Gilead stock slipped 0.45% to 70.69. Shares have fallen in 10 of the past 12 trading days amid Wall Street chatter over hep C sales. Market tracker IMS says hep C drug prescriptions declined 6% to 7% in Q4 from Q3.
Apple won a patent for an Apple Watch with speakers and touch screens in the band
Apple on Tuesday was granted a patent for “modular functional band links” that each contain electronic components and are electrically connected to each other and a wearable device, Apple Insider first reported.
Kevin O’Leary’s Advice To Young Entrepreneurs: Work For A Competitor
“Experience” is the chicken-or-egg qualification that thwarts many a Millennial looking to break into professional work. But “Shark Tank’s” Kevin O’Leary said it’s a critical first step for young entrepreneurs.
“If you’ve found a sector you love and you have an idea of the sector you love, go and work for a competitor for 24 months,” O’Leary said. “That actually becomes extremely useful when it comes time to raise capital, because investors love the fact that you paid your dues and understand the infrastructure of the industry you’re in.
Ford launches brand to sell auto parts to fix competitors’ vehicles
Ford Motor Co (F.N), in a bid for a piece of the rapidly growing global auto parts market, is launching a new brand called Omnicraft to sell parts to Ford dealers and independent repair shops to fix competitors’ vehicles.
This Fintech Giant Wants To Recreate The Bell Labs Experience In NYC
Two Sigma, the first confirmed resident at Cornell’s Roosevelt Island campus, will strive to leverage the power of collective innovation.
In its quest to build a competitive tech sector, New York City is looking for ways that it can leverage the rich fabric of industries that live within its economy. The forthcoming Cornell Tech Campus on Roosevelt Island is one of the biggest attempts to corral the city’s top talent into a single playpen with the hope of spurring innovative technologies.
Yahoo surprises no one by pushing back its Verizon acquisition close date
Yahoo reported its fourth quarter earnings to date, where as usual the financial metrics don’t really matter because the company is in the process of getting acquired by Verizon.
There is, however, a very interesting footnote: the acquisition, expected to close in the first quarter, is getting pushed back to the second quarter this year. The company offered basically no explanation for the delay other than it was working on it
The great American McDonald’s comeback may be over
McDonald’s just reported supersized fourth quarter results and its strongest global growth in five years — despite the fact that sales in the United States fell from a year ago.
The home of the Big Mac is doing extremely well in the U.K., Japan and Latin America. That helped McDonald’s post overall sales and profits that topped forecasts.
Aetna’s $37 Billion Deal For Humana Blocked By Federal Judge
Aetna’s (AET) $37 billion deal to buy rival insurer Humana (HUM) was blocked by a federal judge Monday, thwarting one of two large mergers that would reshape the U.S. health care landscape. Aetna said it was considering an appeal.
Why Google, Twitter, And LinkedIn Employees Are Kicking These Seven Work Habits
We asked insiders at some of the top tech companies which bad habits they’re trying to cut out of their workdays. Here’s what they said.
Wells Fargo admits to signs of worker retaliation
After Wells Fargo admitted last fall to creating as many as 2 million fake accounts, nearly half a dozen former employees told CNNMoney they were retaliated against after they tried to stop these illegal sales tactics.
Why This Chip Firm Became The 7th Sector Leader
The stock of Broadcom (AVGO) has shown a subtle change in character, and it’s for the better. To understand why, you need to check out a historical and current daily chart, not just a weekly chart.
Samsung is making huge profits as Note 7 crisis fades
Samsung has emerged from the ashes of the Galaxy Note 7 debacle in pretty good shape.
The South Korean tech giant reported quarterly profit of 9.2 trillion won ($7.9 billion) on Tuesday, up 50% from a year earlier to its highest level in three years.
Tape Reading the SPY ETF
$SPY indecision reigns supreme in multiple time frames.
Daily charts channeling and the daily candlesticks producing doji-after-doji. Day traders searching for answers that aren’t there. If this is you, stop leaning on the market and begin improving your stock picking skills.
Breakouts in HD, BABA, TSLA and SWKS gave us long scenarios and QCOM on the short side produced solid follow through (ending perfectly at support).
Market conditions line up perfectly about 20% of the time. Learning to trade the other 80% separates the break-even traders from those making a living.
Lockheed Martin Earnings on Tap: What to Look For (LMT)
Lockheed Martin Corporation (LMT) will report fourth quarter fiscal 2016 earnings results before the opening bell Tuesday. Wall Street expects the Bethesda, MD.-based defense jet maker to show increases in both earnings and revenue. But analysts will be interested in more than just Lockheed’s headline numbers.
Lockheed earnings: what to watch for
Lockheed Martin Corp. and its F-35 combat jet program have become the focus of President Donald Trump’s criticism of defense costs, and were already in the crosshairs after the Pentagon imposed a deal on the company for the last batch of jets.
The stock has retreated from a postelection high that reflected expectations of higher military spending. The focus for investors as the company prepares to report fourth-quarter results before the market opens Tuesday is clearly on how Marillyn Hewson, now in her fourth year as chief executive, manages relations with the White House.
Stocks to Trade 1-24-17 | Tuesday Edition
Short-Term Trading Momentum:
Bullish Momentum: CSX, CF, MBLY, BABA (earnings today), HD
Bearish Momentum: qcom, ions, dal, ual, fslr, aet, luv, aal
Quarterly Order Flow:
Bullish Stocks to Trade: TSLA, SWKS, FB, CLVS, WDAY, ADBE, WDC, AVGO, ADSK, UNP, NFLX, SLCA
Bearish Stocks to Trade: bby, dks, tjx, xom, kss, mnk, oxy, dg, jwn, gild, tgt
2x Normal Volume: QCOM, BMY, CSX, HAL, AET, FNSR, SWKS, TRGP
Inside days: bmy, glw, wmb, pg, nvda, azn, cfg, jci, axp, wba, ma, avgo, jnpr, twlo, cl, ea, adi, dg, mnst