Stock Trading Today 1-3-17 | Stock Futures Point Higher

Today’s Trading Lesson

Don’t be like most traders…

Most traders want the lifestyle, not the career. A trading career, at least a successful one, includes hard work. Trading success requires constant self-evaluation, constant motivation and constant massaging of your ego when the going gets tough.

And trust me, it will get tough. The question to answer?

How tough are you?

I’ve invested the majority of my sixteen years as a prop trader in NYC. I also owned two prop trading firms. Success and failure follow two common paths. Path one is the professional, path two is the dreamer.

What’s the difference? The professional takes the long view. The professional starts with the intent to learn. The professional accepts the learning curve. The professional invests in knowledge. The professional seeks skill development.

And the dreamer? The dreamer works hard too. But the dreamer has a different goal. The dreamer wants profits, and actually expects them quickly.

The dreamer spurns continuing education as an expense. Today’s dreamer downloads hundred of free e-books and spends hours on YouTube looking for free gold.

The dreamer doesn’t ask meaningful questions until it’s too late. Until they have one more month of money in the bank.

Imagine visiting a doctor who never went to college, medical school, and never did an internship. Would you trust that doctor with your health?

Of course not. But that’s what dreamers do. They want the dream, but not the investment in time and money.

Dreamers talk, professionals take action and make commitments. Which are you?

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On the Tape Today...

$CLVS 1-3-17

$CLVS 1-2-17

$CLVS 1-2-17

$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 1-3-17 | Tuesday Edition

Mark Cuban: Amazon Is The Best Startup In The World

“Startup” may not be the first word to come to mind when investors think of retail behemoth, Inc. AMZN.

Not many startups do $107 billion in annual sales, employ more than 100,000 people and seriously consider building flying warehouses to facilitate delivery of their product. How So? But that’s not what esteemed investor, entrepreneur and “Shark Tank” panelist Mark Cuban thinks.

Trump berates China, North Korea with two pointed tweets

President-elect Donald Trump on Monday criticized North Korea and China in two Twitter posts, again using the social-media platform to shape his foreign-policy message.

In his first tweet, Trump remarked on news over the weekend that North Korea’s leader Kim Jong Un said his government was completing preparations for a test launch of an intercontinental ballistic missile, which could be the next stage in developing a nuclear weapon that could strike parts of the U.S.

Amgen Plans Robust 2017 In Alzheimer’s, Migraines, Oncology: CEO Exclusive

Expect 2017 to mark a high point for Amgen (AMGN), says company CEO Robert Bradway.

Shares of the No. 1 biotech by market cap fell nearly 10% in 2016, but the stock has still outperformed IBD’s 421-company Medical-Biomed/Biotech industry group, which tumbled nearly 25%. But Bradway sees better days ahead. Amgen, for example, has data on a cardiovascular drug slated for release in Q1, a generic chemotherapy up for approval in the U.S. and Europe.

What Obamacare could be replaced with under Trump

Welcome to 2017. It’s time to repeal Obamacare. Congress returns to work this week and dismantling Obamacare is at the top of its to-do list.

Broad legislation to repeal and replace Obamacare would require 60 votes in the Senate, and Republicans don’t control enough seats to make that happen or to squash a filibuster by the Democrats.

Samsung unveils first smartphones since Note 7 debacle

Samsung announced on Monday a batch of cheaper, water-resistant smartphones. The move marks the company’s first product unveiling since the launch of the ill-fated Galaxy Note 7.

Later this month, Samsung (SSNLF) will launch three new versions of its Galaxy A smartphone, the low cost alternative to the flagship Galaxy S line. As of now, the devices are set to launch in Russia and expand to other markets thereafter.

Tesla owner files lawsuit in California claiming sudden acceleration

Tesla Motors Inc was sued on Friday by a Model X owner who said his electric SUV suddenly accelerated while being parked, causing it to crash through the garage into the owner’s living room, injuring the driver and a passenger. The Model X owner, Ji Chang Son, said that one night in September, he slowly pulled into his driveway as his garage door opened when the car suddenly sped forward.

How to Break Our Worst Trading Habits

Surveying the traders at SMB, Bella recently reported that the number one problem they had during the past year was forcing trades. That is, they failed to wait for trades to properly set up and instead tried to front-run the patterns they were trading.

Why Donald Trump Is Spot-On About The Russians And The Election

President-elect Donald Trump has recently questioned:

1) President Obama’s finger pointing at the Russians for election-related cyberattacks; and 2) the current media and pundit frenzy alleging a Russian cyber-strike targeting Secretary Hillary Clinton in order to assure a Trump presidency.

Dow on pace to open more than 100 points higher on 2017’s first trading day

U.S. stock futures on Tuesday pointed to a rise at the open, putting the equity market on track to start the new year on an upbeat note. They were joining in a global rally, with Asian markets higher after encouraging Chinese manufacturing data and European stocks building on their gains from Monday.

Stock Market Today: Heatmap of the S&P 500

$SP 500 1-3-17

$SP 500 1-3-17

Tape Reading the SPY ETF

$SPY traded a respectable 108 million shares on Friday.

Last weeks’ trading saw mostly selling, 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. 

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.

$SPY hourly chart 1-3-17

$SPY hourly chart 1-3-17

Twitter’s Dismal Year Will Likely Lead to Another

The micro-blogging site had its share of troubles in 2016, most prominently, its inability to generate advertising revenue.

Troubled Twitter (TWTR) fell Friday to finish the year down a miserable 30%.

This followed Thursday’s “open forum,” during which the company’s CEO, Jack Dorsey, welcomed suggestions from users as to how to improve the micro-blogging site’s performance during the new year.

Twitter CEO Solicits Product Feedback as He Takes Larger Role

Jack Dorsey wants Twitter Inc.’s users to know he’s listening to them.

His tweet Thursday soliciting product feedback from users drew hundreds of responses, highlighting concerns with everything from abuse on the site to users’ inability to fix errors after they publish tweets.

“We’ll consider everything we heard from you,” Dorsey said Friday on Twitter. “Not going to ship all of it, but will be more transparent about why and what we learned.”

$TWTR 1-3-17

$TWTR 1-3-17

Stocks to Trade 1-3-17 | Tuesday Edition

Short-Term Trading Momentum:

Bullish Momentum: CRC

Bearish Momentum: aa, swks, nue, amzn, ea

Quarterly Order Flow:


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

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