Top of the morning friends.
It looks like we are going to start today a little bearish on the news that the president stirred the pot with Mexico and Australia during the evening giving the market another shot of the unknown. Facebook reported well after the close yesterday but also mentioned they lost a legal battle that will cost them 500 million. The company however, is still showing some gains this morning. I’m pointing out FB just as a reminder how earnings reports can often be much more than just a report on their books. Get caught on the wrong side of one of the surprises can have big unintended consequences for the short term swing trader.
Today we have the normal jobless claims and productivity numbers on the calendar and more than 200 companies reporting today. AMZN is the big hitter that will report after the close today.
With the Employment Situation report coming out Friday Morning I’m expecting the price action today to be very light and choppy after the morning rush. Today may turn out to be a good day to just sit back and work on building shopping lists and making preparations for your next trade rather than actually entering new positions.
Everyone have a great day!
Trade Wisely,
Doug
Click Here to Watch the Morning Video
Good Morning, it’s hump day and we have a busy market day ahead so I hope everyone is well rested and ready to rumble.
As we had hoped AAPL turned in a very good earnings report giving the bulls something more to think about than politics. Futures are suggesting a nice pop up at the open so far and all the major indexes are showing positive signs of holding price support at least for now.
We have a bunch of economic reports on the table today and some of them do have the potential of moving the market. The biggest and most important will be a 2 PM EDT when we hear from the FOMC. No one is expecting a change in the statement but if during her press conference Yellen begins to sound hawkish then the bears will have something to chew on so be careful.
After the morning rush don’t be surprised if the market goes very quiet as it waits for the FOMC. Also keep in mind we have over 130 companies reporting today we much remain on our toes when it comes to picking new trades.
I wish you all great day of trading.
Trade Wisely,
Doug
Click Here to Watch the Morning Video
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
