Jeff Bezos Net Worth Drops 7 Billion Dollars in One Day
Amazon earnings fall for first time in more than two years, stock drops in late trading
Amazon’s spending on one-day delivery and other initiatives sends profit down year-over-year for first time since 2017, forecast calls for even more spending in holiday quarter.
Amazon.com Inc. profit fell for the first time in more than two years in the third quarter, and the company expects another earnings decline in the holiday-shopping season, which sent shares down more than 7% in late trading Thursday.
marketwatch.com/amazon-earnings-fall-stock-drops
Jeff Bezos lost about $7 billion on Thursday
Goldman Sachs is latest firm to pull money from Fisher Investments, total is now $2.7 billion
Goldman Sachs has joined the flight of institutional investors from Fisher Investments. In all, institutional investors, along with Goldman, are withdrawing more than $2.7 billion from Fisher Investments in light of Ken Fisher’s lewd comments made at a conference on Oct. 8.
Visa Beats Earnings Views, Boosts Dividend After Euronet's Mixed Results
Payment network giant Visa (V) topped fiscal fourth-quarter earnings estimates late Thursday, after PayPal (PYPL) beat forecasts and Euronet Worldwide (EEFT) reported mixed results Wednesday. Visa also said its board approved on Oct. 22 a 20% increase to the quarterly dividend, putting it at 30 cents a share.
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How to Day Trade Earnings Season Like a Pro
If you are finding the current earnings season volatility is passing you by, here is a simple solution that works like a charm for day trading.
This is not a full trading plan but it come close. We are using the SPY ETF as an example but you can apply the trading strategy to any stock.
The concept is to use the 60 minute charts for your day trading trend and the open price indicator as your filter.
60 Minute Charts and Open Price Indicator
The Open Price Indicator
Most traders will identify a stock’s strength, by net change, or change form the previous close.
This is fine if you are swing trading, but today, we are purely using the 60 minute charts as the main trend indicator.
Once we have identified a trend (The current hour is a green or red candlestick) we then look for confirmation from the last price from the open price.
If we get agreement, we then drop down to a shorter time frame, usually the five or fifteen minute charts, to identify an entry/
Since we are trading by the hour, flag patterns can take too long to develop.
This means looking for:
- An inside candlestick breakout.
- In the direction of the indicators just described.
This the best bet to find a clean entry signal.
This strategy calls for you to “reset” your trend every hour and reevaluate if it is still in sync with the change from the open.
When they diverge, you simply let the entry signals go, and wait for confirmation.
Have a great day.
Pete
