Today’s Trading Lesson…
Podcast Update | Profitable Trading Beliefs for Success
I didn’t really learn how to trade the first year and a half in the business..
We were doing nothing but adding liquidity on the ECN. That style really wasn’t trading. There wasn’t a need for profitable trading beliefs because we weren’t trading.
After that I was in the proprietary trading world for 14 years. That was my entire career. It’s also when I got started managing traders.
The experience managing new traders, and seeing the struggles, is why I’m so passionate about what it takes to succeed. I know I can help you because I’ve done it for probably, over 1000 traders over the years.
On the Tape Today...
DG | Dollar General continues to show selling order flow and now has room-to-go once the stock price broke the $74 indecision/support. Looking for a $73 sell-stop to trigger and a swing trade target to cover in the $68 area. Minor pause expected @ $70.
PNC | PNC Financial Services Group continues a slow grinding bullish order flow. These types of trends tend to last a long time. After a false $119 breakout, looking for a $119.50 buy stop and a swing trade target to sell $122.20. Game planning to exit on a close below $119.
Stock Market Today: Heatmap of the S&P 500
Stock Market Today 1-9-17 | Monday Edition
Nokia is trying to make a smartphone comeback, starting in China
If you are a cell phone user of a certain age, you likely have a soft spot for the Nokia brand. In the late 1990s and most of the aughts, Nokia dominated the mobile phone market with its compact and affordable devices.
And who could forget that iconic ring tone? But the arrival of smartphones, notably Apple’s iPhone in 2007, brought Nokia’s global supremacy crashing down.
Taking One Step Beyond Failure
When we pursue our greatest strengths and passions, success may not come easily, but it is not a fight. When we’re on the right path, we naturally pour ourselves into what we’re doing and that supercharges our learning and development.
Get ready for an historic ‘fiscal shock’ as the Dow sets up for another run at 20,000
The “smart money” is in la-la land when it comes to this aging bull. That’s the conclusion any market bear would have to reach after seeing our chart of the day, which illustrates just how unattractive the prospect of hoarding cash has become for fund managers lately.
Party Like The Dow Is 19,999: US Futures Dip As Global Currencies Stumble; Oil Down, Gold Up
European, Asian stocks fall and U.S. equity-index futures traded mixed on Monday with fresh memories of the Dow Jones rising to under 1 point of 20,000 on Friday.
The dollar has rebounded on fresh geopolitical concerns, while the pound extends its decline from Friday and has slide to 10 week lows on a Sunday interview from Theresa May which suggested a “Hard Brexit” may be in the cards. Oil dropped below $54 a barrel on Iran supply concerns, while gold rose 0.6% to $1,180.
Apple cuts Tim Cook’s pay 15% for missing sales goals
The iPhone maker cut Cook’s pay by 15% last year to $8.7 million, according to a filing released on Friday. Apple (AAPL, Tech30) specifically cited the company’s failure to meet its performance goals for both sales and profits. Shrinking iPhone sales last year caused Apple to suffer its first annual revenue decline in 15 years.
Cocoa Slides After Two-Day Mutiny Ends in Top Grower Ivory Coast
Cocoa futures fell after negotiations ended a two-day army mutiny that had paralyzed several cities in top producer Ivory Coast.
Following an extraordinary cabinet meeting on Saturday, President Alassane Ouattara said he’d reached an agreement with soldiers who had blocked roads in the central city of Bouake in Daloa, one of the biggest cocoa areas, and the commercial capital of Abidjan.
Amazon worth more than Sears, Macy’s and Target combined
Consider this. Amazon (AMZN, Tech30) is now worth more than these 10 well-known retailers combined: Macy’s (M), Kohl’s (KSS), Sears (SHLD), JCPenney (JCP), Nordstrom (JWN), Best Buy (BBY), Barnes & Noble (BKS), Dillard’s (DDS), Gap (GPS) and Target (TGT). In fact, it’s not even close.
5 Overvalued Cannabis Stocks – Part 2: Funky Capital Structures In The Marijuana Industry
Benzinga recently had a chat with Alan Brochstein, founding partner at New Cannabis Ventures and founder at 420 Investor. In the first part of this series, we took a look at overvaluation and hype in the general marijuana market, as well as at General Cannabis Corp CANN, a stock with roughly 70 percent potential downside.
Tape Reading the SPY ETF
$SPY trading range remains clear despite the recent well-bid price action.
Daily charts may deceive the actual day trading opportunity. Last week gave us a challenging tape, and range has tightened. ($227.50-$228.31)
The song remains the same, new all-time highs or plan for a lower open to buy.
From a stock-picking perspective; technology stocks remain in bullish order flow, retail stocks in bearish order flow. (see the list of stocks to trade below)
McDonald’s (MCD) gives up control of its China business in $2 billion deal
McDonald’s is selling off most of its China business in a deal worth as much as $2.1 billion.
Citic, a massive Chinese financial firm, is taking the majority stake in McDonald’s (MCD) operations in mainland China and Hong Kong.
U.S. private equity giant The Carlyle Group, is also buying into the investment combo, taking a 28% stake. McDonald’s will hold the remaining 20% of the business.
McDonald’s Corporation (MCD) Sells Control Of China, Hong Kong Business To Citic, Carlyle For $2.1B
McDonald’s has finalized a deal to sell a controlling stake in its operations in China and Hong Kong to a group of investors led by the Chinese state-backed Citic Limited.
Under the terms of the deal announced Monday, the fast food giant will retain control over 20 percent of the venture, while Citic and the American private-equity corporation Carlyle Group will have 52 percent and 28 percent stake, respectively.
The agreement, which is for 20 years, values McDonald’s China and Hong Kong business at roughly $2.1 billion.
Stocks to Trade 1-9-17 | Monday Edition
Short-Term Trading Momentum:
Bullish Momentum: AKAO, TRIP, ALXN, ACAD, MCT, MON, FB, ADBE
Bearish Momentum: cc, pbf
Quarterly Order Flow:
Bullish Stocks to Trade: ADSK, GS, PNC, NVDA, STT, TRGP, IBM, LRCX, BA, WDC, NFLX, CLVS, KMX, SLCA
Bearish Stocks to Trade: TWLO, DG, TGT, LB, URBN, TJX, JWN, M,
2x Normal Volume: AMGN, KSS
Inside days: nvda, wfc, c, jpm, m, ko, kr, atvi, baba, yhoo, usb, rai, mpc, wfm, met, twlo, vlo, ctrp, axp, ma, gsk, mos, ba, lly, gis, pru, hes, cof,