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What To Do In Any Market Scenario

Hello traders everywhere. It would appear as though the holidays are already here with very thin trading and very little action in yesterday's market. Sometimes when markets are in this mode, you have to be extra careful because volatility can kick in at any moment and drive a market sharply higher or lower because of lower trading volume.

I'm going to continue the same theme today as yesterday with two more trading lessons from the "Traders Whiteboard Series".

Let's take a look at what you're going to learn in today's lessons. In lesson 3, I am going to share with you the type of technical tools you should be using to trade in markets that are moving up, down or sideways. I think you will find this lesson very helpful in quickly showing you which technical tools to use and when.

In lesson 4, I am going to be looking at money management and stops. Recently the New York Stock Exchange announced that they would no longer accept stop orders to protect capital. I think this is a big mistake, however I think it was implemented because of the high frequency trading that has been hitting on all the orders. Personally I think it is a mistake to deprive investors of a way to protect their capital, however there are many other exchanges that do accept stop loss orders to protect your capital. You will also learn about the art of money management in lesson 4.

Here are today's two featured lessons: [Read more...]

UPDATE: 12 Stocks Making New 52-Week Highs

I wanted to do this update to share with you exactly what would have happened had you followed everything I said in last Friday’s video.

One of the important elements to look for when a stock is making a 52-week high is that it closes very close to its highs for the day. An example of this would be Home Depot, which closed very close to its highs last Friday. That's the type of stock you should be looking for to go home long over the weekend.

Of the 12 stocks that I showcased last Friday, only three made the cut and matched that criteria and they are, Alphabet Inc., Home Depot and the Goodyear Tire & Rubber Company.

Let's now look at those stocks individually and how they closed last Friday and opened today. [Read more...]

The More Things Change, The More They Stay The Same

Hello traders everywhere. As we start this shortened trading week with Thanksgiving coming on Thursday, I thought it would be a good time to give thanks to you for your business and the trust you have placed in our company and services.

You may have heard the expression, "the more things change, the more they stay the same" and that same metaphor can be applied to today's markets.

A market can only do three things, it can go up, down or sideways, that's it! How many things in life do you know that are that simple? The problem we have as human beings is that we tend to overthink situations and the market certainly is a subject that is made complicated by overthinking.

This week leading up to Thanksgiving I'm going to feature a series of lessons to help get back to the basics and understanding what moves a market. Starting today, I will feature two lessons for you to watch and learn from. It doesn't matter if you're a novice trader just starting out, or a professional trader, sometimes it is just good to go through the basics to understand what makes the markets move.

The lessons come from a series of videos I did titled, "Traders Whiteboard." There are six lessons in all and we will go through them all by Wednesday of this week.

Here are today's two featured lessons: [Read more...]

12 Stocks Making New 52-week Highs

One thing I like to look at are strong trending stocks and nothing indicates a strong trending stock better than new 52-week highs.

If you didn't already know this, there is an easy way to find stocks that are making 52-highs using MarketClub's Smart Scan Technology. You can find stocks in US, Canadian, and Australian markets and have the option of filtering and looking for just certain stocks that meet your criteria.

For my purposes today, I looked at stocks that traded at $20 a share or higher, had a daily trading volume of 2 million shares or higher, and I just scanned US exchanges.

Here's a list of the 12 stocks that met the criteria I set up: [Read more...]

Can Earnings Be Predicted?

Today, I'm going analyze three stocks that are releasing their earnings after the close today. I'm going to see if I can determine where the stock is headed after earnings.

I'll be using the Trade Triangle technology to help me analyze the direction of the market in a very methodical way, all before the companies report their earnings.

Here is what the experts are estimating for earnings for each of the three companies. Autodesk Inc. (NASDAQ:ADSK) estimated to earn .08 cents a share. The Fresh Market Inc. (NASDAQ:TFM) estimated to earn .22 cents a share and The Gap Inc. (NYSE:GPS) estimated to earn .63 cents a share. The earnings are a consensus view of many analysts that track these stocks. [Read more...]

Two Stocks That Deserve Your Attention Today

When I was combing through the recent Trade Triangles scan this morning, two stocks jumped out at me. These two stocks have been in disfavor with investors and were generally cast aside by the general public.

The first stock I will be looking at today is Yelp, Inc. (NYSE:YELP). This stock traded over the $100 level back in the first quarter of 2014. Since that time the stock has generally eroded and recently traded down to the $20 area. This morning, Yelp triggered a buy signal with a green monthly Trade Triangle at $27.70. This signal represents the first monthly signal since 10/13/2014 when a red monthly Trade Triangle was triggered at $64.70. I have an upside target for Yelp of $40, which represents a 61.8% Fibonacci retracement. [Read more...]

Did Yesterday's Rally Cause A Reversal In The Market?

While the rally yesterday was dramatic and to the upside, I don't believe that it was enough to reverse the decline set by the previous weeks drop. Yesterday, The Trade Triangle's indicated that a move to the sidelines was in order and a neutral stance should be adopted. I feel that is the optimum position to have at the moment.

Many of the indices are now back to an area that should provide some resistance to yesterday's rally. One of the things I will be watching closely this week is how the markets close on Friday. Especially with next being be a short and abbreviated trading week because of Thanksgiving.

Overall, 2015 was not a good year for hedge funds. I made that statement before, but several major hedge funds have dramatically reduced their exposure to stocks, I think this is a smart move as I still feel as though this market is undecided as to which direction it wants to go. [Read more...]

Paris - A Seminal Moment In History

Make no mistake about it, the horrific terrorist acts that took place in France on Friday were indeed an act of war against the West. French President Francois Hollande should be congratulated for calling the attacks for what they were and not hiding behind some politically correct verbiage. Our hearts and prayers go out to the people of France and indeed to Europe.

My concern is, what is going to happen to the markets and how the events in Europe are going to translate across the Atlantic to our equity markets. The world continues to change but one thing is for sure, we're all linked financially for better or worse.

Let's take a look at the major indices individually and and see what's happening this afternoon. [Read more...]

Retail Points To A Softer Economy

As I reported a while back, Macy's is in trouble and headed lower. Today U.S. retail sales were reported and rose less than expected in October. One of the big surprises was the automobile sector and the decline in the purchases of new cars.

The Commerce Department reported that retail sales edged up 0.1 percent last month after being unchanged in September. Economists and traders had been looking for a sales increasing 0.3 percent.

In today's report, I will be looking at Macy's Inc. (NYSE:M), J.C. Penney Company Inc. (NYSE:JCP), Bebe Stores Inc. (NASDAQ:BEBE) and Nordstrom Inc. (NYSE:JWN). In addition to the soft retail sector, I will also be looking at Apple Inc. (NASDAQ:AAPL) which continues to erode and could be very close to a turning point. [Read more...]

Is Now The Time To Buy Stocks?

That is the million-dollar question right now given the market action in the equity markets in the last few days. Is this a buying opportunity or has the market reached an important top? It's a very valid question and one I hope to address in today's video.

As I've said before, this is an aging bull market that has been supported in part by quantitative easing (QE) and a very accommodating stance by the Federal Reserve. The Federal Reserve has been thinking of raising interest rates for some time and the last time the Fed raised rates was in June 2006. [Read more...]

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