Today’s Trading Lesson…
Trading psychology or mind games that shape your beliefs?
Once money and ego are involved, all well laid plans are rendered mute…
Trust me, you are not the exception. We all have an inner voice that can help us or lead us to doubt what we see.
We must do our best to recognize when our self-talk is in control and swaying us from our perfectly designed trading plan.
I have yet to meet a trader who hasn’t canceled a stop-loss as it was about to get hit. The fear of exiting a losing trade or avoiding the ego bruise of “being wrong” makes us do strange things.
In spite of the grip these demons have on us, I have developed some solid techniques to wake myself up when I am making poor decisions.
How to motivate yourself to profitable trading and overcome adversity.
On the Tape Today...
$CVS solid selling order flow and gap lower triggers a short sale with $80.25 to cover. (see chart)
$MA continues it's bullish march higher. Friday offered a solid trend. Look for one more day. Be aware of the ATR, early buyers on Friday morning got slapped not noticing the $2.20 off the lows.
$MYL selling order flow but close to entering trading range pattern. Look for a day trade short today below $37, target of $35.50.
$HON topping tail failed to hold the $110 breakout. Short sale entry below $109.50, $110.25 stop. $107.50 first target to cover.
$CVS 10-31-16 (Click to Enlarge)
Stock market braces for political jitters as Fed likely to stand pat
S&P 500 suffers longest losing streak since June
With Election Day a little more than a week away, investors were served a reminder that politics remains a potential source of volatility in an otherwise sleepy trading environment.
The stock market, which had been gripped in torpor so powerful even peak earnings season couldn’t wake it up, got something of a jolt Friday from an unexpected corner when the Federal Bureau of Investigation revealed it would review newly discovered emails related to its probe of Democratic presidential candidate Hillary Clinton’s private email server.
FBI Director James Comey told Congress that Clinton’s use of a private server was getting a fresh look after finding emails the agency believes are pertinent to the case. The emails were found in devices that belong to […]
Continue Reading on marketwatch.com
Stock Market Today: Heatmap of the S&P 500
Stock Trading Today 10-31-16 | $TSO Earnings
Indexes Down In Erratic Session; Gigamon Soars; Why You Should Hold Apple
Stocks closed lower Friday in a volatile session, capping a week of losses for the Nasdaq and S&P 500.
The Dow Jones industrials, meanwhile, rallied from early losses to close a fraction lower as three of the 30 components rose 1 point or more. Component Chevron (CVX) led the upside, rising 4% — good for a three-month high.
The megacap oil play burst back above its 50-day moving average in volume running more than 150% above normal levels, and is now better poised for a potential breakout from a decent flat base at 107.68.
Tesla (TSLA), meanwhile, dropped 2%, sinking back below its 50-day moving average despite issuing an outstanding third-quarter report earlier in the week.
Apple was off 0.7% in light trade. Yet as seen on a weekly chart, the stock’s rally from a 110.33 cup-with-handle buy point in a long bottoming base remains intact.
Continue Reading and Watch Video on investors.com
Tape Reading the SPY ETF
$SPY volatility off the new Clinton email investigation created more chaos in an already uncertain tape. If you’re having a hard time reading the stock market right now, it’s not you. It’s the market.
Ask anyone trading longer than 12 months, this is a tape for the record books, but not in a good way. Decreasing volatility and the reality TV show we are calling an election, has a strangle-hold on the major market indices.
So what do we do?
First admit this comes with the territory. This comes with trading for a living. If we wanted certainty, we would have a 9-5 job and our very own cubicle.
Trading is entrepreneurship, which means ups and downs. I’m not saying it’s easy, but I am saying it’s part of the deal.
Buckle up and act like a pro.
Stocks in Play: $TSO research on finviz.com
$TSO Earnings NEWS: Tesoro Corp (TSO): What Will Q3 Earnings Release Unveil?
Independent oil refiner and marketer Tesoro Corp. (TSO – Analyst Report) is set to release its third-quarter 2016 results after the closing bell on Monday, Oct 31.
In the preceding three-month period, the San Antonio, TX-based downstream operator delivered a positive earnings surprise of 96.05% on significant contribution from the logistics segment.
Coming to earnings surprise history, the company has a good record: its beaten estimates in 3 of the last four quarters, resulting in an average positive surprise of 26.50%
Continue Reading on zacks.com
Earnings Scheduled For October 31, 2016
Get the Full List on benzinga.com
Stocks to Trade 10-31-16 | Monday Edition
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: RCL, BHI, NCLH, LVLT, EXPE, KORS, CVX, VMW
Negative last 20 and 5 trading days | closed 2% lower from the open: AMGN, ESRX, TWLO, CVS, PRGO, ENDP, MRK, AGN, RRC, DVN, NLSN, MUR, NOV
Quarterly Order Flow:
Bullish Stocks to Trade: BHI, EXPE, MA, VMW, AKAM, UAL, FB, AAL, NFLX, NVDA, BA, GS, PNC, WNR, DISH
Bearish Stocks to Trade: CAH, AMGN, ABBV, ESRX, TWLO, CVS, AGN, ACIA, RRC, GILD, MYL, LLY, TEVA, KMX, GPOR, UA, DVA, LOW, VFC, MCD, ACAD, HON, DLTR, HD, RH
2x Normal Volume: AMGN, CVX, BHI, NXPI, CAH, AMZN, ABC, RCL, EA, EXPE, BIDU
Inside days: NXPI, AZN, KO, GM, UA, USB, MPC, DAL, NVDA, CELG, TXN, NEM, TCK, TSM, CAT, CRM, WDC, BA, VMW, PM, M, BBY, CL, DD, WYNN, TOL