7:00 – MORNING MARKET UPDATE & WATCH LIST
NOTE: Today's watch list can be found here.
Yesterday, the Dow and the S&P 500 both closed down -0.8%. The Nasdaq lost -1.1%.
This morning, U.S. stock futures are slightly lower. European markets opened mixed, following a similar trend in Asia.
3M (MMM), Allergan (AGN), Harley-Davidson (HOG), Lockheed Martin (LMT), Pfizer (PFE), Philips (PHG), Verizon (VZ) and Xerox (XRX) plan to release earnings before the open.
Advanced Micro (AMD) and eBay (EBAY) will release earnings after the close.
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Now You Can Start Receiving James' –
Technical SetUps WatchList Each Market Morning
Early each market morning James diligently screens through hundreds of high EPS and RS ranked stocks that have solid fundamentals.
He is looking for those select few which are setting up in sound technical bases and which looked poised to breakout that day.
Each stock is listed with specific trading criteria such as a TRIGGER PRICE, TRIGGER VOLUME and MAX BUY PRICE.
Normally $19.95 a month, now just $9 a month through James' BuyingBreakOuts.com website.
LEARN MORE ABOUT THIS SPECIAL 50% DISCOUNT OFFER HERE
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This week, Wall Street investors will turn their attention toward Silicon Valley. Four of the five most valuable technology companies in the world — Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Facebook (FB) — are all set to report earnings.
Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases.
I ran my routine stock screens, yet did not add any new stocks to our watch lists.
With yesterday's BUY in CYBR, we now have a total of 20 stocks which we will be watching for a potential breakout. – see here.
Chart courtesy of stockcharts.com
Now you can get access all watch lists with updated trading criteria including –TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here.
Missed any of these morning reports? You can find all previous reports here.
Standard rules apply – any gains above the stock's TRIGGER PRICE while the day's volume is at least on pace to make the TRIGGER VOLUME would have any of these set ups confirming a BUY signal up to their MAX BUY PRICE by default.
Keep in mind that when a stock breaks out – becomes potentially buyable – there are other factors to consider.
Volume on the breakout. A stock that is breaking out through resistance, with an increase in volume of +50% above the stock's average volume (50 DAV), is showing more conviction and more demand. This is not saying – all lower volume breakouts will fail. Actually, we've seen many continue higher. If you have found that you did buy a stock that showed lower daily volume or volume under 50%, going forward – simply treat it a regular trade.
Earnings BreakOuts. Many stocks from our watch list will break out during earnings season. Earnings breakouts can be more rewarding, however, these trades carry much more risk then traditional (non-news) breakouts. One needs to also consider – the strength/weakness of the fundamental news that was just released along with the forward-looking guidance the company gave, investors response to the conference call, etc. For anyone who is not familiar with – buying earnings breakouts – I suggest that they sit through a few seasons to study, paper trade, and show some profits, before applying actual capital.
As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you.
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