Friday Free Watch List

Friday Free Watch List

 

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Good morning team,

 

Yesterday was quite the crazy day.  We got information that the US might be backing down a little on trade tariffs and the market jumped.  Then we found out that the news was incorrect and there never was any discussion about that.  Luckily we woke up to the markets remaining bullish today but it’s very important to note that today is monthly expiration day. It’s also important to note that SPY is peaking its head above the 50 day moving average which is great news.  Overall please remain a bit more conservative and keep your trades on a short leash.

Today on SPY

Support of 263.92, 262.24, 260.55, 259.50, 257.82

Resistance of 264.97, 266.66,

Economic Calendar:

· 9:15 AM EST Industrial Production MoM for December

· 9:15 AM EST Capacity Utilization for December

· 10:00 AM EST University of Michigan Confidence, Jan-P

· 1:00 PM EST Baker Hughes Weekly Rig Count

 

Earnings Calendar:

· Earnings Before the Open: CFG, KSU, RF, SLB, STI, STT, VFC

 

Other Key Events:

· 9:05 AM EST Fed’s Williams speaks on Economy and Monetary Policy

· 11:00 AM EST Fed’s Harker speaks

 

Symbol

MRK

Exp Date

3/15/2019

Strike

$ 75 CALLS

Signal

Above $ 75.85

 

Symbol

HSY

Exp Date

3/15/2019

Strike

$ 105 CALLS

Signal

Above $107.90

 

Symbol

TWLO

Exp Date

2/15/2019

Strike

$ 105 CALLS

Signal

Above $ 103.00

 

For CALLS: Watch for a move ABOVE the previous day’s high.

Other Calls on watch: SQ, DOCU, VLO, AMAT

 

For PUTS: Watch for a move BELOW the previous day’s low.

Other Puts on watch

 

 

 

 

Note: We encourage all traders and investors to develop personal trading rules that you can follow and that work for you. Always protect your downside and note that we alert extremely volatile short-term trade opportunities.

 

 
Trading Rules [Please Review Before Taking Any Action]:

 

  1. Do not invest more than you are willing to lose. No one likes to consider the worst case, but it’s always a risk that exists. Rule of thumb - if you cannot sleep at night as a consequence of your investment, then you have over invested.
  2. Keep calm. Do not chase. Decide for yourself if you like the trade. If you are not comfortable with the perceived risks, stay out. Timelines are to be decided by you. Approach methodically, and seek technical confirmation for direction. Always trade with a strategy in mind.
  3. Never use market orders. Only use buy and sell limit orders. Protecting your investment is more important than missing gains. Use "trailing stop %" or "trailing stop $" orders. Personally I prefer mental stops while actively managing trades rather than entering your stop into your brokerage account.
  4. Cut losses quickly when day/swing trading. It's better to acknowledge being wrong than to have false hope. Sometimes you will be wrong in doing so, often times it will save you. It all depends on your entry.
  5. Actively manage all your investments & trade during market hours only.Trading during pre/post market hours carries greater volatility/risk.

 

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