There was a fascinating article I read in a local paper on a recent weekend mini-trip. The author wrote of weekends he spent with his Dad at Yankees games in the Bronx. Now that he has his own kids, he too takes them to Yankees games...in Baltimore. The author spent $12 each for the equivalent of $150ish seats at the new stadium. So he was already ahead about $550. I understand factors such as food and gas come into play but it still makes tremendous financial sense for the author to do what he did. In trading, the same principle applies. First, there are times when it is harder than others to make a trade. It could be a function of the markets, the day, or a factor such as exhaustion. But anything is possible. Second, opportunities are there for the finding...if you look hard enough. Maximum effort is a must for success in this field. Finally, for the effort, one can find fruit with the work. The reward is there but it can take some doing although it can be well well worth it. Thus, you can generally get what you want even if it is more difficult than you thought it'd be. It may be a slight tangent to get it but success in trading is certainly obtainable.
World markets were ostensibly inactive. Tokyo was net near flat for the last couple of days with Hong Kong and every major European bourse having been closed Friday and today. The dollar is quiet but mixed with oil slightly stronger and metals screaming with gold up 1% and silver up 6%. New Home Sales (280K) are due out at 10AM. Futures are modestly positive. With so many people still out for vacation, look for a very low volume session today. There will be pockets of activity amid some of the earnings flow and ahead of the crush of economic and earnings data due out starting this afternoon. The focus will likely be on the earnings plays from this morning, the metals/commodities plays, China ADR’s, and relative weakness plays particularly early.
If the whole story is not there -
If something is good, assume either a short thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified.
If something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified-
Good- The following stocks have good news and/or a strong technical pattern
SCSS- closed near a high after posting earnings
WLT- closed near a high after posting earnings
ESI- closed near a high after posting earnings
COF- closed near a high after posting earnings
TZOO- closed near a high after posting earnings
LULU- closed near a high
IBM- closed near a high
FCX- closed near a high
NFLX- closed near a high
AMZN- closed near a high
PLCM- great earnings
CB- decent earnings
EZPW- decent earnings
IGT- good earnings
BCR- decent earnings
NEPT- closed near a high
TRGL- closed near a high on a positive French shale hydrocarbons report
CYOU- decent earnings
SOHU- good earnings
NKE- featured in “Barron’s” over the weekend
Bad-The following stocks have bad news and/or a weak technical pattern
MCP- closed near a low
OCZ- closed near a low
HNI- closed near a low after posting poor earnings
AMGN- closed near a low after posting poor earnings
SYNT- closed near a low after posting poor earnings
BIIB- near island reversal in closing near a low despite posting good earnings and drug results
VNET- near island reversal in closing near a low on the day of its IPO
YUM- near island reversal in closing near a low despite posting good earnings
SNDK- poor earnings
MXIM- poor earnings
RMBS- poor earnings
SYNA- poor earnings
MCRL- poor earnings
CYMI- poor earnings
ABFS- poor earnings
KMB- poor earnings
ABX- announced agreement to buy Equinox
RSH- poor earnings
Earnings:
MON APR 25 BEFORE
ABFS ACV BEAV
JCI KMB SIFY
SOHU
MON APR 25 AFTER
AMP EFII ELX
ESRX HLX HXL
JEC MAS MSPD
NFLX PCL RCII
RGA RSH SANM
SFG SWI UIS
VECO WCN
Epiphany Trading, LLC
www.epiphanytrading.com
Erik R. Kolodny- Chief Markets Strategist
Brendan P. Byrne- President
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