Dollar Tree DLTR Hits Sellers But Sets Up New Trade 9-17-19

DLTR Dollar Tree Inc 9-17-19

DLTR Dollar Tree Inc 9-17-19

Dollar Tree DLTR hit solid resistance at $113 and saw profit-taking but I like a new long and breakout for my next swing trade.

Game planning for a decline in the stock price to the $106 level to initiate one half of my position. I plan to add on 2-3 days of closing above $113.

Side Note: Buying strength in the stock market has been a tough way to win the last few months, especially during August.

A key to consistency is recognizing the type of trade that's working. Not just the setup but the conditions for entry and trade expectation. With incredible indecision in the markets it's been tough to get clean follow through. So you have seen me write "wait for declines."

This applies to both day trading and swing trading. If you feel like you are losing money as soon as you place a trade, I'll bet you are buying new highs or shorting new lows.

Scan a bunch of charts to notice these things. It's all a part of learning to read the tape. This scan is a good place to start. "Strong stock - Weak close."

Pete

Trump says U.S. reaches trade deals with Japan, no word on cars

WASHINGTON (Reuters) – U.S. President Donald Trump said on Monday Washington had struck trade agreements with Tokyo that could be implemented without congressional approval, but stopped short of assuring Japan that new tariffs would not be slapped on vital auto exports.

reuters.com/trump-trade-deal-japan

WeWork Parent Is Expected to Postpone IPO

WeWork’s parent company is likely to postpone its planned initial public offering, the Wall Street Journal reported.

The We Company’s proposed IPO has appeared to be in trouble for weeks now, burdened by a flood of negative news coverage and investor concerns over valuation, the company’s business model and corporate governance issues.

marketwatch.com/wework-postpone-ipo

The Simple Strategy Fueling the Growth of Bill Gates’s Fortune

Bill Gates is still in wealth-creation mode.

“We’re not, you know, in some defensive posture where we’re mostly in cash, or anything like that,” the Microsoft Corp. founder said in an interview with Bloomberg Television. “The strategy that’s been used on the investments is to be[…]”

bloomberg.com/growth-of-bill-gates-fortune

Oil surge boosts energy stocks – five experts weigh in

“If you’re doing speculative oil trades based on commodity prices, I think it’s a fool’s trade and I would be very reticent to do that. Oil is not going to $100. The oil dynamics are not the dynamics of our youth and show. …

cnbc.com/oil-surge-energy-stocks

Pete Renzulli
 

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