Microsoft (MSFT) and Amazon (AMZN) brings tidings of great joy this morning for bulls after announcing solid and above expectations earnings reports. Each are trading over 10% in the pre-market with Amazon staring down at gains of over 17%. For the tech companies, this has not been a disappointing earnings season at all.
It is a big day for ‘da bears today to see whether they can put up or shut up. As mentioned last night, I think it is extremely important for the bears to have some follow-through to the downside after yesterday’s key intraday reversal. So far, the market is relatively flat with the Dow Futures up
Futures are showing significant weakness heading into the open. The market will be sifting through a ton of reports this week, but today there is only the Chicago PMI report. I ran my screens last night and interestingly enough there were only 2 stocks for my long setups (combined) and only one that I felt I
So overall, not a bad month. The market rallied pretty strong, and our swing trades were able to take advantage of the July rally. Early on, we thought the market might head lower when a head-and-shoulders pattern emerged on the S&P and Dow charts, so we took on a short of (DIA). Once the
I added another $249 to the portfolio, putting me in the green 1% since I launched my live portfolio on July 1st. However, I left another 1R or $250 on the table on this trade. The markets were extremely weak in the early going and there was barely any setups, until I found Amazon (AMZN) and its perfectly formed