Apple to Zynga File Legal Brief Against Trump Immigration Order
Ninety-seven companies, from Apple Inc. to Zynga Inc., filed an impassioned legal brief condemning President Donald Trump’s executive order on immigration, stepping up the industry’s growing opposition to the policy.
U.S. tech firms file legal brief opposing Trump’s immigration ban
Several technology giants, including Apple, Google and Microsoft, banded together on Sunday to file a legal brief opposing President Donald Trump’s temporary immigration ban, arguing that it “inflicts significant harm on American business.”
The brief, filed in the U.S. Court of Appeals for the 9th Circuit, included other top tech firms including Facebook, Twitter and Intel, as well as non-tech companies such as Levi Strauss and Chobani. In all nearly 100 firms, including eBay, Netflix and Uber signed onto the brief.
Apple, Facebook and Google Say Trump’s Travel Ban Would Hurt Business
Some of Silicon Valley’s biggest names have joined the court fight against President Trump’s immigration restrictions, as heavyweights like Apple, Google and Facebook warned that the limits could hurt the country’s economy.
Today’s Trading Lesson…
Don’t Chase Your Trades or the Market
The best trading opportunities occur when you’re trading in the same direction as order flow, but don’t jump into a trade simply because order flow is obvious.
You must think statistically. The stock market will never go in one direction non-stop (although it can feel like it does when managing a losing trade.) There comes a point when the odds of follow-through are lower. You can be on the correct side, but your late entry ends up being a poor trade before the first tick up or down occurs.
To succeed on a massive scale you must learn when the profit potential justifies accepting the risk. To take your trading into the black on a consistent basis, you must learn to identify the value points and profit-taking areas where institutions work orders.
I call these levels “Saturation Points.”
Before you place the trade, ask this simple question,,, “how far has this stock already moved?”
Avoiding trades near Saturation Points, keeps money in your pocket. Learn to spot them and move beyond break-even.
On the Tape Today | 2-6-17
HCA | HCA Holdings produced a solid breakout last week by penetrating 52 week highs. The $81 level has held with 4 consecutive well-bid days and now sits near a Saturation Point. I like the long but not a new swing trade here. Planning a limit order to buy @ $ 82.50 with a target to sell $$87.50.
AAPL Apple Inc heading into a Monday after consecutive inside days and a huge bullish gap. Expecting volatility to return and trigger a new $129.50 buy-stop and a target of $137.50 this week. If the stock trades lower out of the inside days I am letting it go.
Tape Reading the SPY ETF
$SPY bullish gap on reasonable volume gave you a solid day of trading.
Price action reached our initial target, and now rests near the all-time highs. The $DJIA 20,000 level continues to be a headline but doesn’t mean much for a trade. We need the market stocks to hold above these recent breakout levels.
Tech and financial stocks are in play and of course POTUS is the reason. A flat opening gives us a chance to trade an open range breakout, since the $SPY rests near the highs, a new high and the breakout of the first 30 minutes should be the same levels.
This sets up a great trade because it offers order flow, room-to-go and an easy stop loss (failed breakout)
Stock Market Today: Heatmap of the S&P 500
Stocks to Trade 2-6-17 | Monday Edition
Short-Term Trading Momentum
Bullish Momentum: MS, TWLO, ACAD, CC, STX, CLVS
Quarterly Order Flow:
Bullish Stocks to Trade: AMGN, STX, WDAY, ADSK, HCA, ADBE, URI, AVGO, LYB, NSC, IBM, SWKS, AAPL, TMUS, BA, TSLA, WDC. CLVS
Bearish Stocks to Trade: vfc, rh, sm, mck, xom, tgt, uaa, lb, qcom, hes, cvs,
2x Normal Volume: M, V, FTNT, AMZN, AMTD, VFC, ACAD, MJN, ETFC, IP
Inside days: fb, aapl, met, amtd, wmt, etfc, ebay, aa, slb, vlo, lly, nflx, cf, ba, gsk, wdc, tsla, adi, dltr
Become a Better Trader. Get Notified.
Stock Market Today 2-6-17 | Monday Edition
Trump’s Trade War Rhetoric Sends Warnings to Post-Election Bulls
Investors are ignoring Donald Trump’s trade rhetoric at their own peril.
That’s the warning coming from a rising cohort of erstwhile Trump bulls who’ve gone weak in the knees as the president turns his sights on allies from Mexico to Japan and Australia. It isn’t enough, they say, that the post-election rally that added more than $3.5 trillion to global equities and sent high-yield debt to the best start to a year since 2012 has stalled.
Iran says U.S. sanctions stop American oil firms taking part in projects
Iran has imposed no restrictions on U.S. oil firms willing to participate in energy projects in the country but American sanctions make such cooperation impossible, Iran’s deputy oil minister said on Monday.
Time to sell the dollar on ‘erratic’ Trump policies, J.P. Morgan says
The dollar enjoyed a strong run after Election Day, but the Trump administration has turned into a headwind for the buck and more troubles are ahead, strategists at J.P. Morgan warn.
Brexit vote already bad for firms, bosses say
The Brexit vote is already having a negative impact on business, a survey of bosses from some of the UK’s biggest companies has suggested.
Market researcher Ipsos Mori found 58% of respondents said their firms had suffered since last June’s exit vote. Nearly a third of respondents thought the referendum had not made any difference, and 11% felt it had been positive.
Hamilton’ Ponzi Schemers’ Victims Said to Include Tudor Jones
When U.S. authorities busted a Ponzi scheme that centered on marked-up tickets to the hit Broadway musical “Hamilton” last month, prosecutors described phone calls about a “big name” investor who’d demanded his money back.
As it turns out, there were several big names — including billionaires Paul Tudor Jones and Michael Dell, as well as an executive at Och-Ziff Capital Management Group — among the more than 125 people who had unwittingly poured cash into the sprawling scam, according to people with knowledge of the matter.