Today’s Trading Lesson | 7-12-16
Your trading journal is the most important trading book you will ever read.
You are the script writer for your trading dreams. Many traders are lazy and don’t spend the time to write. They lack discipline, which is why they will never succeed.
Discipline is more than simply executing a stop-loss. It includes what you trade, how you prepare and how you continue to educate yourself. All of these elements of trading success are documented in your trading journal.
This powerful 28 minute podcast will open your eyes to three critical times of day to write in your journal. Especially important are the entries during market hours.
Enjoy… Leave a comment with any questions.
On the Tape Today...
$BABA break out and hold above $50 sets up a long target of $85 (see chart)
$VLO 2 day pause sets up a short sale on a higher open.
$TGT and $M forming a base for a longer term swing trade. Potential change of trend.
$GIS daily bull flag is deceptive. Heavy volume on the tape tells us to let it pull back deeper before you buy.
$BABA 7-12-16 (Click to Enlarge)
S&P 500 poised for fresh record as Alcoa spurs earnings optimism
Risk appetite remains, with oil and stocks rallying…
Wall Street stocks looked on track for a higher open on Tuesday, with the S&P 500 poised for a fresh record high amid better-than-expected earnings from Alcoa and optimism over a new prime minister in the U.K. to tackle Brexit.
On Monday, the Dow DJIA, +0.44% and Nasdaq Composite COMP, +0.64% rose 0.4% and 0.6%, respectively, as investors continued to bask in the glow of Friday’s solid nonfarm payrolls report.
Markets in the U.S. and Europe on Monday were also encouraged by news that U.K. Home Secretary Theresa May will become the new British prime minister, avoiding months of uncertainty over who would take over after David Cameron.
Alcoa earnings: A stronger-than-expected second-quarter earnings from Alcoa Inc. AA, +3.85% also fostered an upbeat trading environment on Tuesday.
The company — which unofficially kicks off the earnings season each quarter — late Monday reported adjusted earnings per share of 15 cents, beating forecasts of 9 cents a share. Shares were up 3.8% premarket on Tuesday.Read More — >>
Stock Market Today: Heatmap of the S&P 500
Stocks to Trade 7-12-16 | $TSLA Master Plan or Marketer?
Stocks Rally As S&P 500 Hits Record High; Boeing Gives Dow A Lift
U.S. stocks followed overseas markets higher and extended their Friday gains to boost the S&P 500 to a new high, with Boeing (BA) and Tesla (TSLA) among the day’s big winners.
The Nasdaq climbed above 5000 intraday before settling for a 0.6% gain to close just below the level. The Dow Jones industrial average rose 0.4% to its highest close since May 2015, while the S&P 500 added 0.3%. Volume was slightly lower across the board vs. Friday, according to preliminary figures. Winners topped losers by more than 2-to-1 on the NYSE and Nasdaq.
Boeing lifted 1.5%, rising above its 50-day moving average and nearly retaking its 200-day line, amid news that Qatar Airways is in talks with the jet maker to buy up to 30 narrowbody planes.Read More — >>
Stocks in Play: $TSLA research on finviz.com
$TSLA NEWS: SEC Investigating Tesla for Possible Securities-Law Breach
The Securities and Exchange Commission is investigating whether Tesla Motors Inc. breached securities laws by failing to disclose to investors a fatal crash in May involving an electric car that was driving itself, a person familiar with the matter said, heightening scrutiny of how the company handled the information.
The May 7 accident killed the driver, Joshua Brown, a 40-year-old Tesla owner who collided with an 18-wheel semi-truck that pulled in front of him on a Florida highway.Read More — >>
Elon Musk’s pedestal is crumbling, exposing Tesla risks
Opinion: Risky moves, overly optimistic projections and questionable governance are cause for concern
Tesla Motors Inc. Chief Executive Elon Musk has survived years of questionable moves thanks to the Steve Jobs-like pedestal upon which Tesla fans foist him and the tremendous growth of the companies he has backed. His pedestal is now tipping, however, amid a jaw-dropping series of hazardous risks that should concern all Tesla investors.
Musk’s run of questionable decisions began in May, when he pushed forward projections for manufacturing during Tesla’s TSLA, -0.83% earnings call, fueled by the enthusiasm and preorders from its fanatical customers for its lower-cost Model 3.Read More — >>
Elon Musk Tweets About Masterplan, Tesla (TSLA) Increases $1 Billion in Value
This tweet led to Tesla Motors (TSLA) trading up on the day, with shares closing up $8.00 per share, or 3.74%. Musk managed to increase the value of Tesla stock by over $1 billion ($1,178,240,000 to be exact). Furthermore, there is no guarantee that Musk is actually going to publish the “Top Secret Tesla Masterplan, Part 2” sometime this week – he used the word “hoping” for a reason.Read More — >>
Stocks to Trade 7-12-16 | Tuesday Edition
Short-Term Trading Momentum:
Positive the last 20 and 5 trading days | closed 2% higher from the open: BABA, CTRP, MBLY, X
Negative last 20 and 5 trading days | closed 2% lower from the open: acad, sm
Quarterly Order Flow:
Bullish Stocks to Trade: BABA > $82, LRCX, EA, CHTR, AMZN, CNC, COST, UNP, CVX, IBM,PM, HON, LULU, AEM,
Bearish Stocks to Trade: sm, lyb, ma, psx, vlo
2x Normal Volume: MBLY, AET
Inside days: t, abx, orcl, vz, gps, nem, unh, scty, gis, lly, cog, phm,ua, cag, dish, hog, aem