Stock Trading Today 12-1-16 | Dollar General Earnings | DG

Today’s Trading Lesson…

As the year winds down, it’s time to begin planning for next year’s trading success.

One of the biggest weaknesses I see for many traders is learning from their own experience. This aspect of trading cost me years of frustration. We all bring unique goals and resources to trading, you need to learn from each and every trade you make.

The problem for most traders? We only want to learn when it hurts.

What about the multiple lessons during market hours? The moment-by-moment decisions that cause our results.

What about the trades we earned money? Could you have earned more on the trade or the day? How would know? Who could you ask? 

This trading journal video is part two of three, perhaps the most important. This video discusses what to write during market hours and how to use that information to improve.

You can watch all three trading journal videos here == >>

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On the Tape Today...

$GS | Goldman Sachs 12-1-16

$GS-12-1-16

$GS-12-1-16

$GS recent bullish run has hit a snag. Short-term appears a perfect breakout, but longer term analysis shows the stock finds the bears take control at this level ($216). The stock traded through $220 but closed off the highs. I love the long but not on yesterday's move. Want to see it hold $216 for more than one day.

$BHI steady bullish order flow since July. Looking for a buy-stop above yesterday's high to start building a swing trade long with a target of $69 to sell.

Procrastination & the "Perfectionist" | Brendon Burchard

These U.S. oil stocks are soaring after OPEC’s cut — and more gains are on the way

OPEC’s decision to cut oil production for the first time since 2008 triggered euphoria in the stock market Wednesday. And pending earnings-estimate increases from analysts ought to set a floor under the energy sector and support even higher prices for oil stocks.

West Texas crude oil for January delivery CLF7, +1.23% jumped more than 8%, closing near $49 a barrel.

Among the 36 energy stocks in the benchmark S&P 500 Index SPX, -0.27% 16 were up at least 10% on Wednesday. 

Continue Reading on marketwatch.com

Stock Market Today: Heatmap of the S&P 500

S&P-500-heatmap-12-1-16

S&P-500-heatmap-12-1-16

Stock Trading Today 12-1-16 | Stocks Close Near Lows

Techs, Utilities Drag On Final November Session As Oil Soars

Sellers were hard on tech stocks and utilities in a turnabout session Wednesday as an oil price rally and some blowout November hiring numbers failed to deter end-of-month profit taking.

Marathon Soars, Goldman Sachs Leads Dow, Ignite Tumbles

Oil and gas-related groups posted nine of the 10 best gains among industries on the stock market today. The tenth largest gain was from the basic chemicals group — which depends on oil and natural gas products for its basis raw materials.

At the top of the S&P 500, Marathon Oil (MRO) spiked up 21%, Switzerland-based drilling contractor Transocean (RIG) rocketed 17% higher. At the bottom of the index, fragrance maker Coty (COTY) dropped 4% and Cabot Oil & Gas (COG) shed 4%.

On the Dow, Exxon Mobil (XOM) and Chevron (CVX) ended up more than 1.5% apiece. But they trailed behind Goldman Sachs (GS), with a 4% advance and DuPont’s (DD) 3% gain.

Continue Reading on investors.com


Tape Reading the SPY ETF

$SPY hourly trend since the election aggressively bullish and obvious.

Yesterday’s close on the lows should not give the perma-bulls worry. The stock market needs to rest and pause before making a successful run at a new leg higher.

If we use the lows from November 9 (day after election), to the new highs, the $217 area represents the zone for a decline. I’m not sure we will pull back that far.

If we do, be looking to build a new swing trade long in that area. The strength of the market though say we mostly likely hold the $118 support.

If you’re day trading, continue to be aggressive and press you longs if the $SPY is above the open price. When today’s order flow is in sync with longer term trends it’s imperative you be decisive.

If we are below the open price, looks for shorts with room to go, but tier into longs if you see clear support levels. You will be hedged with the correct trade on for the day.

$SPY hourly-chart-12-1-16

$SPY hourly-chart-12-1-16

dollar-general-earnings

Stocks in Play: $DG research on finviz.com

Dollar General (DG) Earnings News : Dollar General Reports Earnings Today

Discount retailer Dollar General ( DG ) will report Q3 results December 1. The company will announce its quarterly numbers before the market open, with the consensus calling for earnings of $0.93 per share, on revenue of $5.37 billion.

During the same period last year the company earned $0.86 on sales of $5.07 billion. DG shares have risen 10.7% on the year.

Technical Analysis

DG was recently trading at $79.55, down $17.33 from its 12-month high and $16.02 above its 12-month low. Technical indicators for DG are bearish and the stock is showing signs of a possible trend reversal.

Read More NASDAQ.COM == >>

What to Look for in Dollar General Earnings

Dollar General Corp. (NYSE: DG) is scheduled to release its fiscal third quarter earnings report before the markets open on Thursday. The consensus estimates from Thomson Reuters are calling for $0.93 in EPS and $5.37 million in revenue.

The same period from last year had $0.88 in EPS and $5.07 billion in revenue. The company suffered after it reported second quarter results earlier this fall, with the stock dropping about 11% on the results.

For the second quarter Dollar General said that same-store sales increased 0.7%, driven primarily by […]

Continue Reading on 247wallst.com == >>

dg-chart-12-1-16-before-earnings

$DG-chart-12-1-16-before-earnings


Stocks to Trade 12-1-16 | Thursday Edition

Short-Term Trading Momentum:

Positive the last 20 and 5 trading days | closed 2% higher from the open: CRC, SM, CLR, PE, NFX, MUR, APC, RSPP, DVN, HES, HAL, EOG, COP, TRGP, LYB, URI

Negative last 20 and 5 trading days | closed 2% lower from the open: srpt, tsn, amt, kors, lb, lulu, adbe, acia

Quarterly Order Flow:

Bullish Stocks to Trade: CLR, PE, APC, DVN, APC, HAL, EOG, COP, LYB, BHI, SLB, URI, X, GS, STT, CVX, COF, CAT, WDC, PNC, NUE, UNH, PRU, DE, KSS, BA, IBM, AET, UAL, NVDA, ADNT, LRCX, TGT, 

Bearish Stocks to Trade: tsn, amt, nee, hcn, aem, cci, trip, fb, acia, bud, ew, vtr, mdt, lly, mnk, agn, twlo, htz

2x Normal Volume: HAL, COP, DVN, CVX, APC, PE, VLO, HES, TRGP, SLB, CLR, CRC, MDT, EOG, LYB, NFX, GS, SM, WB, AMT, PSX, MNK, RSPP

Inside days: jd, orcl, abbv, mcd, cah, yum, jci, aet, stx, ea, fslr, vsm, ftnt

About the Author

Pete is a full-time trader and mentor since 2000. Author of Equity Trader 101 and the Order Flow Method. He is dedicated to help self-directed traders to bust through the six-figure level.

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