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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.

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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.

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 – 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.

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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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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.

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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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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

Fed Gains, China Worries

October 31, 2019 by Rick Saddler

Wednesday saw a Q3 GDP beat (1.9% vs 1.6% expected) and the Fed cutting rates a third time on the year, by a quarter percent (just as expected). Chairman Powell did indicate a “pause in easing” lay ahead but went on to say the FOMC would need to see “really significant” inflation indications to raise rates anytime in the foreseeable future. (Two Fed voters did dissent, believing rates should have been left unchanged.)

After a flat to mildly down morning, the Fed decision resulted in a rally. This left the SPY and DIA up about 0.3% and the QQQ up about half a percent on the day. All three indices managed to bounce up off support during the day. The QQQ printed a Bullish Harami, while the IWM printed what could be a Bearish Hanging Man signal. The SPY and DIA did not print a signal on Thursday.

On the downside, Chile canceled the APEC meeting where President Trump was to meet President Xi. As of now, there is no announced backup plan for signing the partial Trade Deal with China. Worse than that, Bloomberg reports this morning that “Chinese officials” have told Western visitors they will never budge on the major issues and they doubt any Long-Term Trade Deal is even possible with President Trump in place. Further, they urged Westerners to take word back to the U.S. that without additional tariff rollbacks by the US, more substantial negotiations beyond the partial “resuming 2017 grain purchase levels in return for no new tariffs” deal are not going to result in anything.

After the close, both AAPL, FB and KLAC all reported significant beats and saw corresponding rallies in post-market trading Wednesday. Meanwhile APA, CF and LNC all reported misses. It is also worth noting that TWTR announced it will no longer accept political ads, which may (or not) be a drag on their revenue since we are going into an election year. This is in direct contrast to FB’s announcement from earlier this week.

Overnight, Asian markets were mixed. In Europe, markets are red across the board with the exception of the FTSE (which is soaring on the hope of the UK Election changing the Brexit deadlock). As of 7:30 am, U.S. futures were mixed but flat.

The Thursday economic calendar is limited to lesser inflation reports and Jobless Claims (both at 8:30 am). However, earnings are still going full speed with MO, AMT, ADM, BWA, BMY, CHD, CI, CLX, DD, EL, EXC, HBI, HFC, IP, KHC, MAC, MPC, PH, and WAB among those reporting before the bell today.

Earnings remain generally strong, with a few notable exceptions. Between this, the happiness with the Fed action, and the current trend, the bulls definitely have the upper hand. However, be cautious as there are many earnings still to go and likely more twists and turns in the Trade War saga.

Swing-Trade Trade ideas for your consideration. Long – PM, PNR, PCAR, ARE, TSCO, NEE, INTC, APH, INFO, TSM, PPG, KHC. 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

Fed Decision, More Earnings

October 30, 2019 by Rick Saddler

Tuesday saw a small gap down on the prior evening miss by GOOG. As you might expect, the QQQ took the biggest hit, but all indices were impacted. After a morning rally trying to fade of the gap down, indices waffled most of the day. The SPY and DIA ended flat (with larger upper wicks), but the QQQ printed an ugly black candle that faded about half of the Monday morning gap higher. All in all, only the IWM continues to look like a nicely trending Bullish chart under the microscope.

Then after the bell Tuesday, CHRW, CXO, OKE, UNM, and VRSK all reported misses. Meanwhile, AMGN, CB, EA, FMC, MXIM, MDLZ, and SYK all reported beats. It was also released after-hours that the Tuesday BA testimony in front of the US Senate disclosed that a Boeing Production Manager had tried to halt production until problems were addressed. However, he was overruled by management, which led to the two crashes. These may all help move markets at the Open.

The Wednesday economic calendar includes ADP Payroll (8:15 am), Q3 GDP (8:30 am), Oil Inventories (10:30 am), but most importantly the FOMC Interest Rate Decision (2 pm) and FOMC Chair Press Conf. (2:30 pm). Among the major companies reporting before the bell Wed. are ADP, BKR, CME, GE, HES, MAS, MCK, TAP, NI, RCL, SO, WCG, and YUM. (GE beat and raised guidance, while YUM and TAP both missed already this morning.)

Overnight, Asian markets were red. In Europe, markets are mixed so far. As of 7:30 am, U.S. futures were indicating a flat open with the DIA pointing up 0.1%, the SPY pointing down 0.05% and the QQQ pointing up 0.15%.

Earnings continue to be generally good, with some notable exceptions. However, it is the Fed that is likely to call the tune today, with markets fairly likely to continue assuming a rate cut while still waiting for the announcement to be sure. So, don’t be surprised by lighter volumes and a more “wait and see” attitude in the market. The trend continues to be in the bull’s favor. However, be cautious, because the risk is on the side off Fed disappointment and there are major earnings reports still looming (like AAPL and FB after-hours Wed.).

Swing-Trade Trade ideas for your consideration. Long – COG, PM, AFL, UNH, TSM, PPG, AA, VMW, DE, JEC, JWN, KSS, CPRT. Short – KO, CINF, LMT, NOC, IBM. 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

Earnings Plus the Fed is Back

October 29, 2019 by Rick Saddler

Monday saw a strong gap higher as both T and WBA beat during the premarket and the attraction of all-time highs proved irresistible. The President had also tweeted that Trade War Negotiations were ahead of schedule (whatever that means). Regardless of the drivers, the SPY and QQQ both ended the day at new all-time high closes. The IWM also broke out of its recent resistance level and the DIA lagged, staying within its two-week range despite the gap-up.

The Tuesday economic calendar includes Conf. Board Consumer Confidence and Sept. Pending Home Sales (both at 10 am). The FOMC also begins its two-day meeting (with the market “pricing in” a rate cut on Wed.). However, earnings are likely to steal the show again today, with GOOG (miss) and TMUS (beat) having reported after the bell Monday. Among the pre-market reporters on Tuesday are COP, GLW, CMI, ETN, ECL, GM, IR, K, MLM, MRK, PFE, and XRX. (COP, MRK, PFE, and K all reported beats this am. GM missed and lowered on strike effects.)

Overnight, Asian markets were mixed, with China showing red. In Europe, red was the color of the day across the board so far. As of 7:30 am, U.S. futures were indicating a gap down of 0.1% in the DIA, 0.2% in the SPY and 0.3% in the QQQ.

With the Fed show back in town, reduced rhetoric on the China Trade War front and generally good earnings reports, the Bulls are feeling no pain. However, each of those 3 factors could be a double-edged sword. If the Fed doesn’t do as expected (or just says the wrong thing), or we have a new flare-up in US-China threats, or we catch a couple of missed earnings (or bad guidance) from major names…things could change in a heartbeat. Don’t be surprised by lighter volumes and a more “wait and see” attitude in the market Tuesday. The bulls are running, but be cautious, and remember to take profits along the way.

Swing-Trade Trade ideas for your consideration. Long – PM, CNC, AFL, TSM, JBHT, PNC, DG, JEC, AMAT, BERY, JWN, KSS. Short – CINF, NOC, KO, CSX, TTWO, MDT. Trade smart, take profits along the way and trade your trade. 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