HRB Gives Tape Reading Lesson GRPN Tanks After Earnings
Hello and welcome back to Smart Money Alerts for Wednesday February 19, 2020.
The stock market is starting to show indecision by way of "melted candlesticks." (Small body candles)
Without making light of the subject, the impact of coronavirus seems to have slowed. Which means we can get back to buying dips with conviction.
In today's video we review 7 stocks and the potential trades on the table. About 7 weeks ago we called a bottom in CRWD when we spotted old-fashioned accumulation. Which is heavy volume during a consolidation, after a prolonged down trend.
We're revising the stock today because there's still profit potential on the table.
The second stock for today is W.
It's providing a new trade on the short side similar to yesterday's trade in NFLX. Short selling a strong tape typically does not bear fruit but W is resting on major support. If the stock breaks there's a solid reward for accepting the risk.
And finally we have a great lesson in tape reading in the stock HRB. I walk you through how to build better arguments for your trades by putting more pieces into your trade idea than simply "the stock broke out."
Enjoy today's video and let me know if you have any questions. [email protected]
Have a great day!
Pete
FL PhD who made $325,317 this year shares his story
A PhD who lives on an island off the coast of Florida has stepped forward to reveal how he made over $300,000 thanks to a rare phenomenon happening in the stock market right now.
He’s urging Americans to act while this extraordinary event is still in motion: “Missing out on what’s about to happen is going to be a huge source of regret in the months ahead.”
Click here to see his urgent message.
Groupon Plunges After Missing Estimates, Announcing Overhaul
Groupon Inc. plummeted as much as 26% in late trading after delivering worse-than-expected results and announcing plans to stop selling goods — a retreat for a company that once aspired to be a major shopping service.
Earnings declined to 7 cents a share last quarter, excluding some items, Groupon said on Tuesday. That missed even the most pessimistic Wall Street estimate. Sales also fell dramatically short of projections.
Read More: bloomberg.com/groupon
Here’s how one trader is hedging against selling pressure in the market
There’s a rotation happening in the market that’s got Ascent Wealth Partners’ Todd Gordon eyeing a bond play.
“One, I want to protect the gains that we’ve been building in our portfolio here, [and] I also want to acknowledge that we’re seeing a rotation back into sectors that generally respond to lower interest rates,” he said Tuesday on CNBC’s “Trading Nation.”
Read More: cnbc.com/hedge