Day trading requires planning.
Day trading the current market requires a PHD in trading. Well maybe not a PHD but you need to be clear on your strategy. If not, you will be buying the high and losing money, shorting the low and losing money. Before you know it your account is drained and you’re funding your account again.
This is a market to trade the pull back, not the breakout. If you are struggling to make money in this volatile stock market, you don’t have a clear trading strategy. Try these price points if you need help.
If you are struggling to get a grip, be a smart stock trader and take a step back. Stay in cash until the picture is a little more clear than hour-by-hour trading.
You do not need to be actively trading all day, every day. If you are making money in this tape. Awesome. You should be proud of yourself. Shows you are doing the hard work when nobody is watching and you are prepared.
Stock Market Today: Map of the S&P 500
(click the map for a full view)
The SPY should open lower this morning based on yesterday’s close. So of course we are trading higher pre market (7:30am). I can’t stress enough the importance of having clear reference points for tape reading intra day. There is a lot of trading opportunity the last two months but if you are missing a structure I can guarantee you are getting bounced around like a balloon at the Thanksgiving Day parade on a windy day.
(click the chart for a full view)
Stocks to Trade | Thursday September 10, 2015
- This stock market is driving a lot of traders crazy. I can tell you from experience it’s because they are not patient or not prepared. Probably both.
- Today should be a day to short-sell. That is my bias.
- It’s clear the market forces are uncertain about next week’s FOMC decision.
Charts in Focus
I have waiting for CVX to retest the $70 support but has been stubborn. Looks like yesterday got the move started.
(click the chart for a full view)
Earnings in play today > 1M avg shares: FNSR, LULU, PTN, RUN
Stocks that showed relative STRENGTH– contra to the SPY negative change from the open on 9/9/15: BABA, MDCO, MDVN, NFLX, YELP, YHOO
Above the 20sma and closed 2% higher from the open: (not necessarily all longs, but stocks to note for the price action of strong close from the open and above the 20sma): MDVN, MDCO, YELP
Bullish Ideas ATR/Volume/Price: LB, AMZN
Bearish Ideas ATR/Volume/Price: gpro, amba, qihu, wynn, lng, vtr, baba, hp, de, myl, clr, dvn, kss, fit, mjn, lvs, bidu, adsk, apa, abbv, twx, terp, dltr, nbl, amt, cvx, slb, trip, slb, apc, mdt, pg, hal, nee, mon, cat, wmt, all, bhi, scty, duk, xom, pep, pxd, hes, rrc,
Weak Stock Weak Close: gpro, qihu, amba, wynn, cybr, cnq, hp, myl, clr, dvn, fit, mur, lvs, adsk, bp, apa, abt, abbv, twx, met, bk, pru, schw, jci, ms, aer, c, qcom, cma, a, mos, nbl, ip, amt, ben, afl, cvx, bx, amtd, tot, sti, usb, bhp, trip, coh, rio, mrk, amgn, nue, gild, apc, bbt, pld, mdt, pg, hal, wfc, nee, jpm, dd, dsca, cl, bmy, zts, cat, wmt, etn, aem, all, dg, dis, bhi, cof, scty, duk, wmb, xom, pep, ibm, adm, jnj, pxd, mmm, hes, kmi, oxy, nov,
Strong Stock Weak Close: CAM, LB, JBLU, CVC, DHI,
Weak Stock Strong Close: baba, yhoo
Strong Stock Strong Close: TE
20 day Breakdown: aem, gpro, x
20 Day Breakout: RIG, TE
2x Normal Volume: TE, YHOO, ADSK, MBLY, LNG, GPRO, BABA, MCHP, NUE
Watch List Longs: BBY, TWC,
Watch List Short: kss, abtr, met, bk, pru, cvx, slb, wfc, bmy, wmt, pm, all, ko, bhi, xom, adm, wynn, lvs, c, qcom, m, emc, nue, dd, hpq, wmt,
Inside days: baba, jd, vips, pot, grub, ctrp, yoku,
Trading LULU Earnings | Initial Jobless Claims
What to Expect From Lululemon Earnings
Lululemon Athletica Inc. (NASDAQ: LULU) is scheduled to report its fiscal second-quarter financial results before the markets open on Thursday.
The consensus estimates from Thomson Reuters call for $0.33 in earnings per share (EPS) on $445.76 million in revenue. The same period from the previous year had $0.33 in EPS on $390.71 million in revenue.
This company is a yoga-themed athletic apparel retailer, which was a top stock from March 2009 to May 2012. But from May 2012 to June 2014 the company suffered from upheavals at the CEO slot and other corporate issues that bogged down growth. The company finally achieved comparable-store sales growth of 5% at brick-and-mortar locations recently, its first quarter of positive growth for the metric in more than a year.
At the same time, Lululemon demonstrated broad strength from not only its core women’s line, but also in its men’s business and kid-centric ivivva brand.
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