Exxon Mobil-Chevron Earnings Reports | SPY ETF Day Trading

Exxon Mobil Expected to Earn 70 Cents a Share

Exxon Mobil Corporation (XOM) is expected to report quarterly earnings of 70 cents a share on sales of $63 billion, before the market opens Friday, April 26, based on a FactSet survey of 18 analysts.

In the same period a year ago, the company posted earnings of $1.09 a share on sales of $68.2 billion. The stock has risen 7.7% since the company last reported earnings on Feb. 1.

thestreet.com/investing/earnings/exxon-mobil

Exxon, Chevron first-quarter earnings expected to dip from last year

NEW YORK (Reuters) – Exxon Mobil and Chevron are expected to report lower quarterly earnings per share when compared with last year’s first quarter, though their stocks have outperformed smaller companies with both in the midst of aggressive expansion plans in shale oil

A combination of lower oil prices, weakness in liquefied natural gas (LNG) portfolios and lackluster refinery margins could hurt integrated oil companies across the board, analysts said ahead of results announcements on Friday.

reuters.com/exxon-chevron-first-quarter-earnings

Dow futures slightly lower as investors await GDP data, corporate earnings

Official U.S. GDP data is expected to be published at around 8:30 a.m. ET, with consumer sentiment figures for April set to follow slightly later in the session.

Market focus is largely attuned to economic developments, amid speculation that figures later in the session could show the U.S. economy outperforming the rest of the developed world.

cnbc.com/2019/04/26/stock-market-gdp-data

Uber Said to Plan I.P.O. Price Range Valuing Company as High as $90 Billion

SAN FRANCISCO — Uber plans to set a price range for its initial public offering that would value it at as much as $90 billion, a person with knowledge of the situation said on Thursday, in a sign of caution amid a flood of highly hyped tech offerings.

nytimes.com/uber-ipo-price-valuation

SPY ETF Chart Well Offered 4.26.19

SPY ETF Chart Well Offered 4.26.19

When is it OK to break your trading rules?

If you were one of my prop traders I would say never. The rules are in place so you can allow your trading edge to do the heavy lifting.

But what about this situation…?

Strong stock pulls back for 2-3 days. Do you keep looking for a place to buy the stock? Follow the rules the answer is yes, and for most trades the answer is yes — you only look for longs when order flow is strong.

So what do you do if the stock continues to trade lower for those 2-3 days? Do you do nothing? Here's where trade expectation and trading discipline come into the game plan.

Trade expectation means the odds of your profit target being reached versus your stop loss. In the direction of order flow trade expectation increases. The trade we are describing is a trade against order flow.

This means we do not expect a powerful move. But.. in certain instances a disciplined trader can execute a short sale IF and ONLY IF, they admit the trade is against the order flow, and it is a momentum trade, NOT an order flow trade.

This means you do not trade size, you do not add to positions and you exit into the first sign of support (or exhaustion selling, or a bullish U-turn candlestick)

So what's the criteria? The required scenario for me is the stock is well offered (like the chart of the SPY ETF today) AND the stock is trading below the open price. If EITHER of these criteria is violate I do not look for a short, I look for a new long.

This setup is a valid, specific trade idea, BUT it is not my A+ trade.

It's important for you to know the difference. I see many students in the coaching program struggling because they believe all trades are the same, and should be traded the same.

And that belief is why they don't get paid. Trades with low trade expectation do not offer enough reward to justify the risk. Sure you can take them, sure you can build an argument, but they aren't the best ideas.

Develop your A+ trade, and work it to get paid. 

Pete

 

pete renzulli
 

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