Under Armour downgraded as CEO’s praise of Trump creates ‘reputational risk’
Under Armour Inc. was downgraded Wednesday to a rare bearish rating at Susquehanna Financial, which cited the “reputational risk” created by the chief executive’s praise of President Donald Trump.
Under Armour has a big Trump problem
Under Armour CEO Kevin Plank took out an ad in the Baltimore Sun Wednesday to clarify some of the favorable comments he recently made about President Trump, remarks that were criticized by several of the company’s highest-profile endorsers.
Under Armour: Why 20% Growth is a Thing of the Past
Under Armour (UAA) lost a quarter of its value on Jan. 31 after reporting disappointing earnings and cutting its sales growth forecast in half. And after a drop of that size, it’s tempting to want to do some bargain hunting, especially when analysts are falling over themselves to downgrade the stock. But for Under Armour to outperform, it needs growth to reaccelerate […]
Today’s Trading Lesson…
Day Trading Strategy Using the 60 Minute Charts
In today’s section on trading the $SPY, we discuss using intra day indicators such as the open price to avoid being long when profit-taking occurs…
If you are finding the current long-term tape is driving you crazy, here is a simple solution that works like a charm for day trading.
This is not a full trading plan but it come close. We are using the SPY ETF as an example but you can apply the trading strategy to any stock.
The concept is to use the 60 minute charts for your day trading trend and the open price indicator as your filter.
On the Tape Today | 2-16-17
FB | Facebook inside day and pause actually showing relative weakness from the market, but we can't ignore the previous 4 weeks of order flow. Looking for an inside day breakout and a $136 target on a swing trade. If the stock price trades lower and breaks down instead, I plan to let it go.
DKS | Dicks Sporting Goods bearish order flow and a close on the low. An especially strong signal considering the new all-time highs in the stock market. The stock price punched through and closed below the $50 support level and triggers a sell-short. Game planning a $49.25 sell-stop and a swing trade target of $40.25.
Tape Reading the SPY ETF
$SPY price action produced another well-bid close near the highs.
Most of the traders I spoke to last night said be long with a tight stop. I have to agree. Tough to initiate new longs up here but you can’t sit on the sidelines either.
The game plan using the open price remains the same.
Stock Market Today: Heatmap of the S&P 500
Stocks to Trade 2-16-17 | Thursday Edition
Short-Term Trading Momentum:
Bullish Momentum: TEVA, MYL, MCK, CELG, MNK, AMGN, EA, WYNN, AET, LLY, MAR
Bearish Momentum: teck, aig, dks, srpt
Quarterly Order Flow:
Bullish Stocks to Trade: AMGN, EA, CAH, CMA, PNC, NFLX, ADBE, WDAY, IBM, COST, HD, BA, GS, ABC, AAPL, X, AVGO, AGN, NSC, ADSK, FB, CLVS, TSLA
Bearish Stocks to Trade: dks, hes, sm, vfc, kors, apa, gild
2x Normal Volume: AIG, PG, TECK AA, MYL, DVN, TMUS, MJN, ADI, TRIP, CMA
Inside days: mu, msft, fb, nvda, dow, apc, vfc, nflx, wmb, apa, slb, oxy, nbl, twlo, nov, mbly, ups, dg
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