Day Trading Archives - Page 117 of 139

DIS and Done Deal Not Done

November 14, 2019 by Rick Saddler

Markets gapped down a bit Wednesday on trade fears prompted by President Trump’s Tuesday speech and threats of new tariffs. However, the bulls stepped in as usual and drove the indices quickly back to flat. Fed Chair Powell made no waves with his Congressional testimony and there were no major twists in the Impeachment hearings. So, markets treaded water most of the mid-day before the SPY, DIA and QQQ all closed at new all-time record highs again.

Among the news driving markets Wednesday was DIS reporting very good subscriber sales for their new streaming service and NKE saying it will no longer sell directly to AMZN. On the trade front, China reported that it will not be buying $50bil in US grain (as President Trump has repeatedly touted) and don’t want to set a specific amount on what they will buy. Moreover, they also repeated that tariff reductions are needed for the so-called “Phase One” of a deal. This may have just been another tit-for-tat reply to the President’s tariff threats from Tuesday. Regardless, this news stream is likely to continue as a Deal our President says was done appears to be anything but done.

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At the end of the day, the EU reported that it “expected” President Trump to postpone tariffs on European Autos (as was done in May). However, there was no word of another postponement out of the White House. (Wed. was the deadline to postpone them.) Then after hours, CSCO and NTWP both reported beats.

Thursday economic news includes PPI and Weekly Jobless Claims (both at 8:30 am). Fed Chair Powell also testifies before Congress again at 10 am, but Impeachment Hearings will likely grab the spotlight. The only major earnings Thursday will be WMT and VIAB before the bell and AMAT and NVDA after the close. (WMT already reported a beat this morning.)

Overnight, Asian markets were all in the red. In Europe, markets are mixed with the FTSE, DAX, and most others in the red, but the CAC and a couple others in the green. As of 7:30 am, U.S. futures are all just on the red side of flat.

The Impeachment hearings are likely to drive markets Thursday. (Fed Chair Powell is very unlikely to say anything to the Senate that he did not say to Congress on Wed.) However, more twists on the China Trade War front may also occur. Regardless of what shocks that may come, remember that the bulls have been extremely resilient in recent months. So, don’t over-react to temporary whiplash. Try to follow the trend. Be cautious and continue to take profits and move stops.

Swing-Trade Trade ideas for your consideration. Long – KHC, ALLE, ARNC, IFF, CVX, CDW, K, MAS, KLAC, SWKS, PNR, SYY, FBHS, AMP, UTX. Short – TGT, STZ, CINF, JCI, F, MOS. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade: PYPL, TGT, and ZS. Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19 (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

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New Highs, Hesitant Candles

November 13, 2019 by Rick Saddler

Markets gapped slightly (+0.10%) and then rallied early, maxing out about half a percent above the Monday close. However, the bulls faltered at that level and traded back lower leaving upper wicks. Nonetheless, the SPY, DIA, and QQQ all managed to close the day Tuesday at new all-time high closes…but on candles that were very indecisive.

Among the news drivers Tuesday was a mid-day speech by the President. Market Analysts had hoped it would be a positive speech on trade and China negotiation success. Others had expected an announcement of another postponement of European Auto tariffs. (Wed. is the deadline for another postponement, and this being an economic and trade speech the announcement was expected.)

However, instead, President Trump took the opportunity to say the Fed has been holding the US economy back. He also again said China had been cheating the US for decades (and that the prior US Presidents must not have understood trade). And while he said a phase-one deal with China was now “close,” he went on to threaten substantial increases in tariffs if no deal is reached. (Rather than being “a done deal” as he has said in the past, this posturing clearly indicates negotiations are still underway.) Finally, he also failed to mention the postponing of the tariffs on European Automobiles. This was decidedly NOT the kind of speech markets had hoped to hear.

Beyond the speech, the President also threatened the World Trade Organization on Tuesday. (Bloomberg reports say he is threatening to block the WTO budget approval, which requires unanimous consent by member states, unless the WTO falls in-line with his views on trade.) So, all in all, this was a bad day for anyone with any concerns about International Trade.

In addition to the US Market pullback, overnight Asian markets were all in the red. In Europe, markets are also all strongly down at this point. As of 7:30 am, U.S. futures were on track for a 0.3% to 0.4% percent gap lower across the board.

Wednesday’s economic news includes CPI (8:30 am) and Fed Chair Powell testifies before Congress at 11 am. The only major earnings events will take place after the close as CSCO, NTAP, and TCOM all report.

Fed Chairman Powell’s testimony is very likely to be the large market-driver today. However, Impeachment testimony (and off-setting events designed to distract) will also fill the news. Regardless of any shock markets may get, remember the bulls have been extremely resilient in recent months. So, don’t over-react to temporary whiplash. Try to follow the trend. Be cautious and continue to take profits and move stops.

Swing-Trade Trade ideas for your consideration. Long – CARS, KHC, ARNC, CDW, MAS, K, DOV, PNR, AMD, FBHS, VLO, AMP, UTX, MS, KEY. Short – ETR, SO, CINF, STZ, CTAS, DG, TGT, CPB. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

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Resilient Bulls

November 12, 2019 by Rick Saddler

The indices gapped down about half a percent on Monday (on Hong Kong unrest, the contraction of GDP in the UK and a lack of positive spin to offset Friday’s bad news on the Trade War front). However, the bulls continue to be resilient and they rebounded to cut the losses by more than half, leaving white candles across all major markets.

Among the news that helped were reports that BA will begin deliveries of its 737Max again in December and that KKR has formally asked WBA about purchasing it (in an unknown type of deal). On this news, the DIA even managed to put in a new all-time high close (by a few cents). This leaves us in a tight consolidation in the latest stair-step of the bull run.

There is no US economic news on tap again Tuesday, but there are three Fed speakers during the day. The only earnings of note are DXC.

However, President Trump does make a mid-day speech today on Trade and International Commerce , which will likely touch on his China Trade War. It was also reported after-hours Monday by Politico that he may announce another six-month postponement of tariffs on European Autos. (Those tariffs were already postponed once in May.)

Overnight, Asian markets were mixed. In Europe, markets are also mixed, but mostly green at this point. As of 7:30 am, U.S. futures were pointing to a flat open, barely on the green side of even.

With the vast majority of earnings behind us, fear of global recession, twists in the China Trade War and (Impeachment-related or meant to distract from the Impeachment) political news are likely to drive news cycles and markets again this week. Remember to be cautious and continue to take profits and move stops.

Swing-Trade Trade ideas for your consideration. Long – CARS, BHC, ARNC, SNA, MAS, DOV, PCAR, AMD, VLO, DD, FBHS, AMP, UTX, MS. Short – EFX, ETR, SO, KO, ATVI, SBUX, STZ. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

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Trade War and Recession

November 11, 2019 by Rick Saddler

More China Trade War news drove markets Friday as pre-market stories indicated that there was “fierce opposition” in the White House to rolling back tariffs as part of any phase one deal. This caused a gap lower in the SPY, QQQ and IWM. However, this gap was quickly faded…until President Trump told reporters he had not agreed to rollback tariffs (as his Senior Economic Advisor Larry Kudlow had told Bloomberg on Thursday was agreed with China).

The President’s comments sparked another mid-morning selloff. However, the rest of the day the bulls slowly regained momentum, driving prices higher right into the close. The day finished with another new all-time high close in the SPY, DIA, and QQQ. Even the IWM closed with a nice white candle back in its recent range.

There is no US economic news on tap for Monday (or Tuesday) due to the Veterans Day holiday. In addition, the only earnings report of note Monday is HPE. However, there is some International news. The UK (5^th largest economy in the world), reported a shrinking GDP and Germany (4^th largest) is expected to do the same on Thursday. This would put two of the largest economies in the world (and the two largest in Europe) into recession.

Meanwhile, in China, the BABA “Singles Day” sale has sold over $31bil in merchandise (and climbing) in its one-day sale. At the same time, the unrest in Hong Kong has escalated again with Police shooting at least two people, causing a flash mob that shut down downtown traffic. Another man (who apparently opposed the mob) was set on fire and those three are among 60 casualties today.

Overnight, Asian markets were all in the red, on Hong Kong unrest and US-China Trade fears. In Europe, markets are also in the red on the UK recession and Global trade fear. As of 7:30 am, U.S. futures were on-track for a half percent gap lower across the board.

Swing-Trade Trade ideas for your consideration. Long – KHC, GPC, PSX, K, MAS, PCAR, AMD, VLO, AMP, IR, CE, ROL, UTX, STI, MS, OLLI. Short – EFX, ETR, KO, MLM, HSY, SBUX, DG. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

The China Story Two-Step

November 8, 2019 by Rick Saddler

China deal optimism led Markets to gap higher Thursday. However, there was no follow-through as the sideways grind set in for the rest of the morning. Then about 2:30 pm, rumors had the White House pushing back against tariff reductions. Markets sold off on this report. The selloff subsided at the end of the day as markets ended in the green, but printing Shooting Star type candles in the SPY, DIA and QQQ, while the IWM had sold off all day printing an ugly black candle.

After-hours, ATVI, BIDU, BKNG, MTD, MNST, NLOK, DIS reported beats. Meanwhile, AMCR, MATX, NWS, and TTWO reported misses. However, after-hours Larry Kudlow (Dir. of the Council of Economic Advisors to the President) told Bloomberg that afternoon rumors were false and that if a first-phase trade deal is signed with China, it will indeed include the tariff reductions China was insisting upon. Unfortunately, later more reports of opposition to tariff rollbacks came. Obviously, the administration has two splinter groups at odds over this issue.

Friday’s economic calendar is limited to Michigan Consumer Sentiment (10 am). In addition, earnings will hold little sway as only AEE and DUK report before the bell.

Overnight, Asian markets were mixed, but mostly in the red. In Europe, markets are also mixed at this point, with the FTSE and DAX red and the CAC and others in the green. As of 7:30 am, U.S. futures were on the green side of flat.

With the bulk of earnings and the Fed direction out of the way, it seems the China Trade War is the big story driving market moves. However, it sure seems that two competing groups inside the Trump Administration are using leaks (and stock Market gyrations) to gain points in their fight. So, beware of chasing any such news. It may well be countered in short order. Remember to be cautious and continue to take profits and move stops. We have a long weekend news cycle ahead and no chance to trade against that news before the Open Monday.

Normally, we don’t put out trade ideas on Friday. However, with two groups in the trading room, I’ll make an exception. Swing-Trade Trade ideas for your consideration. Long – AIZ, MAS, K, CMI, AMD, PCAR, STX, SYY, CELG, VLO, ROL, CTXS, OLLI. Short – EFX, KO, CF, MLM, F, SBUX, STZ, WEC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

New China Hopes

November 7, 2019 by Rick Saddler

Markets continued to rest Wednesday, after a mid-day scare as it was announced that the supposed November signing of a phase-one partial trade deal with China has slipped until December (maybe) and would be signed some (undetermined) place in Europe. (This follows on the previous day’s reports that China is pushing for tariff roll-backs, not just the lack of new tariffs, before they sign a phase-one deal.) That revelation caused a temporary drop in markets at 11:45 am, but we recovered by day end.

After-hours, ANSS, ATO, DVN, FISV, FLT, FOXA, HOLX, MRO, NKTR, and QCOM all reported beats. Meanwhile, ALB, CTL, EOG, EVRG, EXPE, TRIP, and WYNN reported misses. However, last night’s big news was an Official Chinese announcement that they have agreed with the US to simultaneously remove existing tariffs in phases and that this had been a stumbling block to the phase-one partial deal. Futures soared on this official report.

Thursday’s economic calendar is limited to Jobless Claims (8:30 am) and a couple more Fed speakers. However, again earnings will likely have the most sway again as APD, ABC, CAH, CNP, DISCA, HII, JCI, NRG, NLCN, NBL, NCLH, PNW, RL, WRK, and ZTS are among those reporting before the bell.

Overnight, Asian markets were all in the green. In Europe, markets are mostly green at this point. As of 7:30 am, U.S. futures were green, looking for about 0.40%-0.50%. Again, trade deal optimism has spread fast.

While we’ve rested after the break to new highs, China trade deal optimism is likely to put new energy into the bulls. Just bear in mind that earnings have been mixed the last couple days and reports say that on average future earnings forecasts have reached the lowest level of growth in years with an expected increase of +1% for next quarter. In addition, there may well be more twists in the Trade Deal story and we still have some earnings left that may dampen moods. So, remember to be cautious and continue to take profits and move stops.

Swing-Trade Trade ideas for your consideration. Long – GPC, IPG, SNA, K, MHK, CMI, PCAR, STX, VLO, ALK, ROL, KSU, KEY, OLLI. Short – EFX, MLM, LMT, NOC, VMC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

Taking a Rest at the Highs?

November 6, 2019 by Rick Saddler

Traders seemed to love the trade news ahead of Tuesday’s market hours. President Xi Jinping had said China will work to lower tariffs and stabilize international trade. As a result, markets gapped mildly higher at the Open. However, from there it was an indecisive day ending in some form of Doji across all major US indices. The trading at the all-time highs is not a bad sign. Markets are extended and need a rest or pullback. At this point, we are seeing more indecision then signs of a sell-off.

During the day Tuesday WBA soared again (as it had the prior 2 days), but then crashed back at day end. This on news of the company investigating taking itself private. (Based on the prior two days of gains, it makes you wonder if someone perhaps leaked that news to friends/family who tried to cash-in.) After-hours, AIZ, DVA, DVN and ES all reported beats. Meanwhile, FANG, HST, and MCHP reported misses.

Wednesday’s economic calendar is limited to Crude Oil Inventories (10:30 am) and a couple more Fed speakers in the afternoon. However, again earnings will likely have the most sway again as BR, CBRE, CVS, CPRI, COTY, HUM, SEE, AES, VMC, and WEC are among those reporting before the bell. Also, of note is that homebuilder TMHC has reached an agreement to buy its smaller competitor WLH and CNBC is reporting XRX will make an offer to buy HPQ.

Tuesday’s economic calendar includes Sept. Trade Balance (8:30 am), Service PMI (9:45 am), ISM Non-Mfg. PMI and JOLTS (both at 10 am) and a couple of FOMC speakers in the afternoon. However, earnings are likely to drive markets again as AGN, ARNC, BDX, EMR, EXPD, FIS, HSIC, MYL, NEM, PPL, REGN, TPR, and ZBH all report before the Open.

Overnight, Asian markets were green. In Europe, markets are mixed, but mostly green at this point. As of 7:30 am, U.S. futures were just on the green side of flat.

Again, markets are a bit extended at this point and showing signs of indecision at the all-time highs. However, this is constructive (as compared to a raging bull run that often leads to a collapse). Don’t be too surprised if we drift sideways a bit or even pullback to retest the breakout level before any climb resumes.

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🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

All-Time High Nerves

November 5, 2019 by Rick Saddler

The bulls continued to run causing a gap-up at the Open Monday. However, after the gap higher, there was a lot of volatility with all major indices ending with black candles and either indecisive or having faded the gap to some extent. Still, this leaves the SPY, DIA, and QQQ at new all-time high closes and IWM higher in its trend. Just beware that gap-up Doji (DIA and QQQ) are not ideal and can presage a pullback. So nerves are a real thing up here at the all-time highs.

Earnings after-hours on Monday were mixed but leaned to the bad side. XEC, ED, IFF, MAR, MOS, and OXY all reported misses. However, HIG, JKHY, PXD, and PRU reported beats, although 3 of these also reported revenue misses.

Meanwhile, on the China Trade War front, news outlets are now reporting that China is pressing the White House to not only forego the threatened December tariffs, but also reduce the existing tariffs on Chinese goods as part of any Phase One deal. My take-away is that the “Phase One” partial agreement is not a done deal yet (as had been suggested). However, President Xi Jinping also made a speech promising that China will continue to lower tariffs and work to stabilize international trade.

In other International News, OPEC announced that it forecasts demand for oil to fall 7% over the next four years. This is based on their assumption that there will be a flood of US Shale Oil on the market as environmental concern regulation continues to be eased in America.

Overnight, Asian markets were green. In Europe, markets are also mostly bullish at this point. As of 7:30 am, U.S. futures were green across the board, looking for gap-ups of between 0.2% and 0.5%.

It certainly appears the bulls want to continue their run. However, the tepid post-gap candles Monday suggest it is not a run-away stampede for the bulls. With more China Trade War twists, as well as more earnings ahead, remember to be cautious and continue to take profits and move stops.

Swing-Trade Trade ideas for your consideration. Long – GPC, IPG, MPC, XRX, VLO, LUV, ROL, JPM, KSU, PPG, AA, OLLI. Short – MLM, CINF, LMT, NOC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

Bulls Running Again?

November 4, 2019 by Rick Saddler

Strong earnings and an unexpectedly strong jobs report caused a gap up and strong day as the bulls ran hard. The SPY and QQQ closed at new all-time highs. Meanwhile, the DIA is closed near its all-time highs and the IWM also had an extremely bullish day (closing at the high since May). The bulls were certainly running Friday.

Over the weekend, the CEO of MCD was fired (had an affair with an employee) and it was reported that Warren Buffett is now holding 10 times his normal amount of cash. (This may indicate he just feels many stocks are over-valued up at all-time highs.) The ATP (an Asian Trade pact similar to NAFTA, but excluding the US), which was created because President Trump decided to pull out of a similar pact the US had started and was close to having in place, took another step toward ratification (expected next year). Finally, the Saudis announced Sunday that Aramco, the world’s most profitable company, will be listed (as expected) on the Saudi stock exchange in December.

Monday’s economic calendar is limited to September Factory Orders at 11 am, but even though we are now past the half-way point, earning continue. In a pre-market report, UA posted a beat. However, CNBC reports US is also under Federal Investigation for Accounting fraud.

Overnight, Asian markets were green. In Europe, markets are also bullish at this point. As of 7:30 am, U.S. futures were green, looking for about a gap up of between 0.4% and 0.5%.

It certainly appears the bulls want to continue their strong run from Friday. China Trade War twists and turns, as well as more earnings, remain ahead. However, the bulls have the bit in their teeth early this Monday Morning.

Swing-Trade Trade ideas for your consideration. Long – FLS, ITW, PM, MHK, AMP, ALK, LUV, INTC, PG, INFO, RF, MS, BBT, TSM, C, BF.B, OLLI, DE, BERY, STX. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

Jobs, Earnings and China

November 1, 2019 by Rick Saddler

Despite strong earnings Wednesday night and premarket on Thursday, markets could not overcome bad news out of the Trade War. Reports out of China say they won’t budge on the major issues (subsidies to companies, industrial policy and Intel. Property), don’t trust President Trump to keep any deal and doubt any long-term agreement can be done while he is in office. Meanwhile, the White House says they still expect to sign the phase one agreement (just to not make things worse) on the same schedule as before the Chile Conference was canceled.

The net result was that the bears had control of the markets all day on Thursday. The four major indices ended up printing Hanging Man type candles. The good news is that all four also managed to climb back above Support by day end. Also, after the close Thursday, ANET, FTNT, QRVO, and WU all reported beats.

Friday’s economic calendar includes Oct. Nonfarm Payrolls (8:30 am) and ISM Mfg. PMI (10 am). There will also be several FOMC speakers in the afternoon (which will probably have no impact this quickly after the Fed Statment). However, earnings are still likely to be the driver with AIG, ABBV, BRKB, CBOE, CL, D, XOM, LYB, NWL, PCG, STX, SRE and CVX all among those reporting before the bell today.

Overnight, Asian markets were mixed. In Europe, markets are also mixed, but mostly green at this point. As of 7:30 am, U.S. futures were green, looking for about a one-third of a percent gap up.

China Trade fears remain front and center as of Thursday. However, earnings remain generally strong, with a few exceptions. Remember this is Friday (payday). So take some off the table where you can. Be cautious as there are many earnings still to go, likely more twists in the Trade War saga and two days ahead when you can do nothing about a report (or tweet) if you are long or short.

Normally, we have no trade ideas for Fridays. However, in honor of the Open House, here are some Swing-Trade Trade ideas for your consideration. Long – PM, PCAR, PNR, PKG, NEE, INTC, APH, INFO, TSM, PPG, BF.B, DE. Short – MLM, BA, IBM, DRI. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching