Stock Trading Today 10-17-16 | $NFLX Earnings

Today’s Trading Education

Hearing a ton of frustration from some smart traders, mostly about the lack of follow through in the stock market, from one day to the next.

Instead of a deep lesson to start the week, I thought I would share two videos to help you get inspired about trading again.

Trading for a living can be heaven or hell. Like it or not, they are two sides of the same coin. Professional traders accept this and understand they trade for the week, the month and the year. Keep this in mind when a tough day unfolds. 

It’s not about the day, or the trade. It’s about building a trading business you love. A business that gives you the life you deserve.

Challenging markets show you who you are.

Decide today to be a professional. 

How to Improve as a Trader

How to Think Through a Trade

On the Tape Today...

$CELG momentum took a break on Thursday, triggered again on Friday. $98.50 sell-stop with a $95.25 cover to buy (see chart)

$GS double normal volume on a failed breakout. Implies a nasty reversal is coming but wait on the short-sale. We need another day or two on confirmation. $172 resistance is the level to watch.

$CVS bear flag with solid selling order flow gives us a short-sale on a higher open. $89.50 limit order. $86.30 is the target to cover.

$JPM attempted a breakout with a gap higher Friday. If the market finds a bid this morning look to bid the $67.25 area with a day trade to sell @ $68.75.

$CELG 10-17-16 (Click to Enlarge)



Dow futures fall as stocks seen ‘struggling to sustain themselves’

In focus today: Fed’s Fischer, Netflix, Bank of America, Hasbro

“There have been signs that markets are struggling to sustain themselves at these levels,” said Craig Erlam, senior market analyst at Oanda, in a note.

“We saw some late selling in equity markets on Friday, with the FTSE, Dow and S&P all experiencing a late dash for the exit into the close, potentially indicating an anxiety among traders and a lack of confidence in the markets,” Erlam said.

“Fischer is generally among the more dovish members of the Fed but has indicated at times that he is close to supporting a rate hike soon,” Erlam said.

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Stock Market Today: Heatmap of the S&P 500

$SPY Heatmap-10-17-16

$SPY Heatmap-10-17-16

Stock Trading Today 10-17-16 | $NFLX Earnings

Stocks Give Up Early Gains Despite Strong Retail Sales, Bank Earnings

The major averages were well off early highs Friday but held modest gains heading into the last hour of the regular trading session.

Building-related stocks, gaming software and solar issues led the upside in today’s stock market action. Laggards included department stores, biotechs and gold miners.

Banks gave up their early gains despite view-topping results from Citigroup (C), JPMorgan Chase (JPM) and Wells Fargo (WFC). Shares were up 0.6% and down 0.1% and 0.1%, respectively. But Goldman Sachs (GS) led the Dow with a 2% gain.

Oil stocks underperformed too, as West Texas intermediate crude oil settled at $50.35 a barrel, down 9 cents. The U.S. oil rig count rose for a seventh straight week in the latest week, according to Baker Hughes data, and the 15th of the past 16 weeks.

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Netflix Subscriber Growth Focus Of Q3 Earnings Report

Internet television network Netflix (NFLX) is set to report third-quarter earnings after the close Monday, but investors are more interested in how many subscribers it added in Q3.

Netflix stock has been in a tug of war between bulls and bears lately over whether the company can continue to add new subscribers at a brisk pace or has hit a wall.

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Tape Reading the SPY ETF

trading patience

$SPY remains indecisive…

Price action needs to trade below $212 with volume and momentum, or make new all-time highs.

Frustration for swing traders is mounting. The $SPY trading range has dragged into it’s third month. Order flow in the general market stalled on the July 8 breakout. The story is different (slightly) for day traders.

Short-term traders can rely on “change from the open” for a solid bias.

Most traders I speak to in coaching have struggled with patience. They feel the market pinch is closing in on them. Professionals make their monthly P&L on 40% of the month.

Many feel those opportunities vanished. I feel your pain but the song remains the same. Don’t over trade.

When the market volatility picks up again, you will make easy money to get back to break-even.

Be patient for solid trades. Be aggressive when you get them.

$SPY 10-17-16

$SPY 10-17-16

Netflix streaming

Stocks in Play: $NFLX research on

$NFLX NEWS: Netflix earnings: What to expect from the streaming giant

Netflix expects to add 2.3 million net subscribers in the third quarter.

Netflix Inc. is scheduled to report its third-quarter earnings after the market closes on Monday.

For investors, the big questions remain the same: Will subscriber numbers disappoint? Will the streaming giant turn profits while shelling out tons of money for content and global expansion? And for “Stranger Things” fan, what about Barb?

Here’s what investors can expect:

Earnings: Netflix NFLX, +1.24% is expected to report earnings of 6 cents per share, according to analysts surveyed by FactSet.


Netflix may reveal growing pains during Q3 earnings

Netflix may face tougher times ahead as competitors strengthen their position in the streaming video space.

The company will report its third-quarter earnings on Monday. Thomson Reuters’ consensus estimate for the quarter is $2.28 billion in revenue, with the company expected to post earnings of 6 cents per share. That’s compared to 7 cents per share on $1.74 billion in revenue in Q3 2015.

Though Netflix remains dominant in the streaming space, ad-supported streaming platforms such as Sony’s Crackle and YipTV have been gaining in subscribers, said Tru Optik CEO Andre Swanston.

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Stocks to Trade 10-17-16 | Monday Edition

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: CRM, REN

Negative last 20 and 5 trading days | closed 2% lower from the open: acad, tetr, rice, ions, rrc, rh, teva, yelp, momo, twlo, celg, agn, etp, tsla, pbf, prgo, wynn, abbv, baba

Quarterly Order Flow:


Bearish Stocks to Trade: acad, myl, rh, teva, twlo, celg, ctsh, prgo, mbly, bmy, abc, kmx, axp, vfc, dis, wmt

2x Normal Volume: TWTR, CRM, GS

Inside days: ms, mrk, dal, cog, hal, gild, wmb, rai, jnj, mo, exc, azn, rrc, gsk, slw, tjx, ep, duk, dfm, dg, d, dltr

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