Today’s Trading Lesson…
Podcast Update | Six-Figure Trading
Why Most Traders Struggle and Lose Money During Stock Market Volatility
There is a delicate balance traders need to assess, before choosing stocks to trade. The balance between; profit potential and risk.
How much can I earn, in exchange for the risk I need to accept?
Struggling traders choose volatility, as the only criteria. The desire to make money takes control. This is like driving without brakes. This type of trading gets your heart pumping, but doesn’t keep you safe.Listen to the Podcast Now >>
On the Tape Today...
$PRGO 11-9-16 (Click to Enlarge)
$PRGO swing trade short sale triggers below $80 with a target to cover @ $65. (see chart)
$MO solid order flow for eight weeks and two consolidation weeks. Minor resistance at $67 with the target to sell the full position at $69.70. If the stock trades lower out of the trading range let it go.
$KMX selling order flow since September double top. Short-sale triggers a $48.50 sell stop with a target to cover @ $45.50.
$JCI multi-year breakout over $44. Solid momentum the last 5 trading days. Keep it on your radar, needs to pause at this level for a few days before we take a new long.
Dow futures drop 300 points, but off worst levels, as Trump, Republicans secure clean sweep
U.S. stocks were setting up for sharp losses when trading opens Wednesday, with Republican Donald Trump pulling off a major upset by winning the U.S. presidential race. Equity futures plunged as Trump claimed victories in several key battleground states, such as Florida and Ohio.
After also winning Pennsylvania, the major TV networks early Wednesday morning called Trump as the winner in a bitterly contested race with his Democratic Party rival, Hillary Clinton, who conceded the election.
“The world is waking up to a new U.S. president today and it is not the one that markets had positioned for. As I write this, Donald Trump has just sealed a spectacular victory that will rank as even more surprising than Brexit,” said Richard Perry, markets analyst at Hantec Markets, in a note.
Continue Reading on marketwatch.com
Stock Market Today: Heatmap of the S&P 500
Stock Trading Today 11-9-16 | President Trump
Stock Futures Down, But Well Off Lows, As Trump Wins White House
Stock futures were down sharply, but partly recovered from prior lows, as Donald Trump pulled off an upset victory over Hillary Clinton, who conceded early Wednesday.
S&P 500 futures were off less than 2% after tumbling as much as 5% late Tuesday, triggering a trading halt. Nasdaq 100 futures fell 2% after also being down more than 5%. Dow futures, plunging more than 800 points at one point, are off 300 points now.
Keep a close eye on several big-cap techs that are either at or in near buy points or are on the cusp of some other technical turning point: Apple (AAPL), Alphabet (GOOGL), Citigroup (C), General Electric (GE) and Barrick Gold (ABX).
Continue Reading on investors.com
Tape Reading the SPY ETF
$SPY election reaction shows why we called for trading light overnight. The uncertainty hit a crescendo late Tuesday night. The global markets are absorbing a wild night, day trades are the smart play right now.
Anyone predicting price action for the remainder of 2016 simply wants to be in the headlines. The $SPY volatility offers many short-term opportunities and that continues to be my trading plan.
For me to see longer-term swing trades in the major indices, I need to see volume, and direction for more than two days.
Stocks in Play: $MYLresearch on finviz.com
$MYL Earnings NEWS: Mylan Earnings: What to Watch
Investors looking for clues on how EpiPen changes regarding will impact the company next year
Mylan NV is scheduled to announce its third-quarter earnings after the market closes Wednesday. Here’s what you need to know:
EARNINGS FORECAST: Net income of $1.46 a share for the third quarter is the consensus of analysts surveyed by Thomson Reuters, compared with $1.43 reported a year earlier.
Mylan said Oct. 7 it projects adjusted earnings per share between $4.70 and $4.90 this year, down from $4.85 to $5.15 previously, due to its responses to the recent controversy over the high price of the company’s lifesaving EpiPen treatments.
REVENUE FORECAST: Analysts project revenue of […]
Continue Reading on WSJ.COM
Epipen maker Mylan earnings: what to expect
Epipen maker has missed revenue expectations the past six quarters
Mylan NV is expected to report third-quarter results on Wednesday after the market close, with analysts expecting year-over-year increases in both adjusted earnings per share and sales for a 12th-straight quarter.
Of keen interest to investors will be any commentary from the drugmaker on a recent Bloomberg report that the U.S. Justice Department was readying criminal charges into possible price fixing in the generic drug industry, as well as the public backlash regarding the recent surge in prices on some live-saving prescription drugs.
Mylan MYL, +7.25% best known as the maker of EpiPens for the emergency treatment of allergic reactions
Continue Reading on marketwatch.com
Stocks to Trade 11-9-16 | Wedneday Edition
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: DAL, HCA, X, UPS, MAR, LBTYA, NCLH
Negative last 20 and 5 trading days | closed 2% lower from the open: momo, rrc, abc, prgo
Quarterly Order Flow:
Bullish Stocks to Trade: UAL, DAL, CVX, EXPE, BHI, PNC, GS, BA, AVGO, DE, PRU, NVDA, NFLX, AKAM, MA,
Bearish Stocks to Trade: cvs, kmx, rrc, teva, abc, prgo, mck, vtr, hcn, agn, wynn, nfx, fslr, low, amgn, lly, cost, twlo, thc, acia
2x Normal Volume: HTZ, CVS, CTL, MOMO, WBA, CAR, ACAD, MAR, COF, UPS, CAH, MCHP, ABC, KMX, IONS
Inside days: abbv, dow, gld, ctsh, jd, cbs, apc, dd, amgn, wdc, stx, kors, apa, ip, gme,