Today’s Trading Lesson…
Trader education gets a bad rap.
We pay to learn. We all do. It’s just whether we pay with time or pay for experience.
If we pay with time, the learning cure takes longer. We need to learn from mistakes and make pivots. It’s expensive and exhausting.
If we pay for experience, if we find a mentor, we pay to shrink the cost and speed up the learning process. My good friend Rick described it this way…
What if you invested in training and mentoring? Many would say it’s expensive.
But expensive compared to what? Well…I just gave you the answer.
Enjoy this free training course.
On the Tape Today...
$IBM topping tail and failed test of $154 resistance sets up a short-sale with a $148 target to cover. (see chart)
$TRV bearish momentum pause triggers a short sale with a swing trade target to cover @ $102.
$UAL and $AAL have solid bullish order flow for roughly 6 weeks. A pause this week and oil earnings should give us a solid inside day breakout today in $AAL.
$PNC solid bullish momentum and well-bid in a weak tape yesterday. Look for one more day with a target to sell of $97.50
$IBM 10-28-16 (Click to Enlarge)
U.S. stock futures in holding pattern with a day to go before Brexit vote
U.S. stock futures on Wednesday pointed to a muted open after a two-day advance, as many traders avoided big bets ahead of Thursday’s U.K. referendum on European Union membership.
“Most investors are in the mood to take some profits off the table, and this could impact the volume in the market as we march towards the final hours of the referendum campaign,” said Naeem Aslam, ThinkForex’s chief market analyst, in a note on Wednesday.
Stocks worldwide have been lifted in the past two sessions after polls suggested U.K. voters will reject the push for a “Brexit,” meaning Britain exiting the EU. But more polls were expected Wednesday and could hit stocks and other assets perceived as risky.
The U.K.’s in/out referendum on EU membership is planned for Thursday. Results from the first counting areas are expected around 7:30 p.m. Eastern Time on Thursday, or 12:30 a.m. London time Friday.
Continue reading on marketwatch.com
Stock Market Today: Heatmap of the S&P 500
Stock Trading Today 10-28-16 | $$XOM Earnings
Stocks Fall, But Tesla Up; Big-Cap Techs Mixed After Hours
Stocks suffered a late-hour sell-off as most indexes ended Thursday’s trading at or near session lows.
However, Tesla Motors (TSLA) gained nearly 1% to 204.01 after a surprising third-quarter profit of 71 cents a share, shooting well past estimates. Sales soared 145% to $2.3 billion.
After the close, internet giants Alphabet (GOOGL) and Amazon.com (AMZN) both reported robust Q3 results but were volatile in after-hours trading. The former was up roughly 1% while the latter sank more than 6%. Both megacap techs finished the regular session with piecemeal losses.
In after-hours trading, Amazon shares dropped to as low as 779, significantly below its 50-day moving average near 799. However, shares still hold a stout gain of nearly 30% since the stock moved past a 603.34 buy point in a four-month cup with handle on April 13.
Google operator Alphabet notched a 20% rise in revenue, exceeding its 13% gain in the year-ago quarter; excluding currency impact, revenue climbed 23%. Non-GAAP earnings jumped 23% to $9.06 a share. CFO Ruth Porat noted in a new release that mobile search and video services “are powering our core advertising business.”
Watch Video and Continue Reading on investors.com
Tape Reading the SPY ETF
$SPY trading causes happy hour to come early…
Thankfully we have plenty of stocks to trade. My coaching sessions are filled with training on sector rotation these days. The reason I bring this up centers around perfect trades.
If you don’t know what perfect looks like, every trade looks the same.
You need a model that shows you THIS IS IT!
Great trading ideas include a general market bias. We don’t have that right now, other than change from the open. (Which you absolutely must monitor each day)
Make yourself a checklist. Market, sector, industry, and stocks. What does perfect look like from the top down?
Stocks in Play: $XOM research on finviz.com
$XOM Earnings NEWS: Exxon, Chevron earnings: What to expect as energy outlook improves
Exxon Corp. XOM, -0.20% and Chevron Corp. CVX, -1.26% are expected to report third-quarter results Friday before markets open.
Relatively higher crude-oil futures prices and higher-than-expected quarterly profits for two of the largest oil-field services companies — Halliburton Co. HAL, -0.15% and Schlumberger Ltd. SLB, -0.52% — have kept hopes high for the duo’s quarterly results […]
Read More on marketwatch.com
What to Look for in Exxon, Chevron Earnings
Two U.S. supermajor integrated oil companies, Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX), are set to report third quarter results before the opening bell Friday. Earnings estimates for both have been scaled back over the past three months, for both quarterly and full-year profits.
Analysts are looking for Chevron to post earnings per share (EPS) of $0.37 and revenues of $29.05 billion. In the same period last year, Chevron’s EPS totaled $1.22 and revenues rang in at $34.31 billion.
Continue Reading on 247wallst.com
Big oil companies are about to gush red — here’s why analysts aren’t panicking
Wall Street is expecting to see improvement in quarterly earnings as oil majors begin reporting this week after many of the world’s biggest energy companies missed forecasts in the second quarter.
The last round was indeed a dramatic one. Exxon Mobil fell far short of forecasts due to weakening refining operations, while its smaller peer Chevron surprised investors with a loss of […]
Read More on cnbc.com
Exxon Discovers More Oil, but Don’t Get Too Excited — This Is Offshore Nigeria
The integrated oil major said it has discovered between 500 million and 1 billion barrels in one of the most expensive production regions in the world — and it’s offshore. Continue Reading on thestreet.com
Stocks to Trade 10-28-16 | Friday Edition
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: COP, LVLT
Negative last 20 and 5 trading days | closed 2% lower from the open: gnc, acia, exas, srpt, nov, mur, nclh, ions, twlo, nem, dltr, etn, acad, ctrp, rh, vtr, yelp, pld, cci, endp
Quarterly Order Flow:
Bullish Stocks to Trade: WDC, QCOM, AKAM, AAL, PNC, UAL, EXPE, GS, MA, DISHM, HAL BHI, NFLX, KLAC, COF, BA, NVDA, WNR
Bearish Stocks to Trade: nclh, ions, twlo, dltr, acad, rh, ua, dg, lly, mbly, hon, teva, hd, low, mcd, mdt, rrc, gpor
2x Normal Volume: NXPI, QCOM, BMY, CMCSA, LUV, LVLT, GNC, COP, UA, WDC, MPC, TSLA, NOV, CELG, TXN, ACIA, MUR, BA, SPN, VMW, AMZN, AKAM, ETN
Inside days: nxpi, ge, luv, csco, rai, dal, jnpr, nflx, vlo, aal, hal ,rrc, ual, hes, slb, mdt, gps, kss, mcd, wba, bhi, cof, nue, dfs, wfm, lulu