Good Morning traders!

Monday was a bit of a roller-coaster ride and it was easy to become a little overemotional about the price action.  Please watch the video because I explain a little on how to avoid making those emotionally based decisions.

Today we have several economic reports that have the potential to move the market but I think it is unlikely that they will.  We also have the FOMC meeting beginning today so keep in mind that normally the market can become very quiet while it waits for their decision on Wednesday afternoon.  Personally, I think the market driver will be the 130 plus earnings reports happening today with the granddaddy of them all AAPL reporting after the market close.  I may be wrong but I think AAPL has had enough time to make some course corrections and I expect we will see a very good report today.

Although at this time I don’t think there is a need to panic about a major correction I do think it’s very important that you are managing the positions that you are in.  Remember you can always buy a stock back and for the cost of a commission, there is just no need to hold a stock that is not performing as you had expected and breaking down.  Raise your caution level on buying new positions slightly until we have a few more clues on the direction of the overall market.

Have a profitable and productive day!

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good Morning friends and Happy Monday!

I hope this note finds you all happy, healthy, rested and ready to kick off another week of trading.  We have a lot going on this week with earnings really ramping up and some the heavy hitters such as AAPL and AMZN reporting this week.  We also have FOMC minutes and the big employment report to deal with this week which truly makes anything possible.

Futures this morning are looking lower seeming to show disappointment in the president’s travel ban.  Weekends always seem to have an element of danger to them because you just never know what might happen while the market is closed.  This is a good example as to why I don’t like loading up on stocks on a Friday and favor taking profits and cleaning up the portfolio ahead of a weekend.

We have a couple report on the economic calendar this morning but personally, I doubt very much that they will really move the market very much unless they are a big surprise.  There are 68 companies reporting today so be mindful of that making sure you check reporting dates before making a purchase adding new risk.

Have an awesome day!

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good Morning friends and Happy Friday!

Why is Friday always happy?  Because that is the day we make an effort to put profits in the bank paying ourselves for the hard work of the week.   Never forget that part of successful trading is learning to take profits consistently.

Futures are basically flat this morning as we wait for a couple big economic numbers and earnings reports.  At 8:30 eastern we will get a reading and Durable Goods Orders and GDP.  I’m expecting both to be positive but you never know anything is possible.  I personally think these numbers will set the market tone for the day.  Fridays and mostly been up days with all the good feelings heading into the weekend.  However, you never want to count on that so make sure you are managing the positions you are in first.

As you know from time to time I will add new positions on a Friday but as a general rule, I lighten my risk heading into the weekend rather than add.  It all depends on the trade and the attitude of the overall market.

Please meet me in the RWO room right after the open so we can make some decisions on the MSFT position after the positive earnings and the morning gap up.  See you there!

Everyone have a fantastic weekend!

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good Morning traders, it’s Thursday and the market is still happy!

I always have a little worry in the back of my mind after a big breakout move that the market will reverse with a nasty head fake.  However, the positive energy we started yesterday translated around the world with all the major world markets getting on the bullish bandwagon.  This morning we have already seen some very good earnings reports that we can only hope will keep that warm and fuzzy feeling going for a follow through day.

We have the normal International trade and jobless claims numbers that come out at 8:30 eastern time and later in the morning we have housing sales but I my guess is they would have to surprise pretty badly to move the market.  There are 165 companies reporting today so make sure you are positioned correctly based on your risk tolerance for those reports.  I mostly will avoid an earnings report altogether.

I am bullish but I will try to avoid over bullishness until our new levels of market support are tested and hold with buyers reacting to those supports.  If we are so lucky to have that occur we could have great trading all the way into summer.  Only time will tell.

Have a fantastic day and remember to put some money in the bank as we head toward the end of the week.

Trade Wisely,

Doug

Click Here to Watch the Morning Video