Stimulus Plan Fails to Pass Buy Stocks Today? 3.23.20

Stock futures traded limit down, again, after the Senate failed to pass a stimulus bill.

But is that a bad thing for stocks? Does that mean stock traders wake up and sell the bad news?

No. Not so fast.

Price action. Always pay attention to price action. Profitable active traders only care IF a stock moves, not why.

Sure we will read WHY after the fact but we aren't analysts. Do you really think your $49 per month subscription to a news service is going to give you actionable insights before the smart money?

So be a trader, Build a game plan from your strategy and ignore the news. Much of which is written or said from people who have never bought or sold a stock in their life.

Video: Stocks for Breakfast

TODAY'S TRADING GAME PLAN
Since this mornings gap lower and halt, stock futures are in a range. No further selling has occurred.

So it's smart to look both ways this morning. Could we trade lower when the stock market opens? Sure. Is it a lock BECAUSE of the bad news.

No. No way.

Today I'm monitoring two key stages of price action. If we break Friday's lows, and if we break the opening range.

If we break both to the downside. I'm ready to short sell, as long as we are well-offered on my main charts.

However, if we break down and reverse, many poorly planned traders will be stuck in bad trades, and that means opportunity to the long side.

INSIDE DAYS

Because we are in a pre-market consolidation, the key stocks in my watch list are inside days that I'm looking for a trend day.

This means I'm looking to buy stocks or sell short (depending on price action) and then hold to the close. I'm looking for a large green or red candlestick and a big pay day in those stocks.

Stocks mentioned that meet the criteria: DIS, FB, LOW, TJX, GOOGL, MS, AND SQ. One stock in particular has set up an inside, inside day. A potential powerful day.

The theme for today could be called "Look both ways." Bad news for sure. But good traders let price tip its hand.

I don't believe we've seen a long-term bottom.

If you have questions or feedback, please leave a comment below this episode of Stocks for Breakfast. ​

Have a great day.
Pete

PS. To get may daily Smart Money Alerts by email, you can join here:
https://stocktradingpro.com/

Pete Renzulli
 

Click Here to Leave a Comment Below 1 comments
Melissa B - October 17, 2020

What’s up?

I found this article very interesting…please read!

Do you remember the blockbuster hit film The Matrix that was released in 1999? You may not know this, but it has deep spiritual implications concerning the times we are living in and Bible prophecy.

It tells a story of how these “agents” are trying to turn us into machines. We are closer then ever before for this to become a reality when they cause us to receive an implantable microchip in our body during a time when physical money will be no more.

You may have seen on NBC news concerning the implantable RFID microchip that some people are getting put in their hand to make purchases, but did you know this microchip matches perfectly with prophecy in the Bible?

“He (the false prophet who deceives many by his miracles) causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name…

You also may have heard of the legendary number “666” that people have been speculating for possibly thousands of years on what it actually means. This article shares something I haven’t seen before, and I don’t think there could be any better explanation for what it means to calculate 666. This is no hoax. Very fascinating stuff!

…Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666″ (Revelation 13:16-18 NKJV).

To see all the details showing why the Bible foretold of all these things, check out this article!

Article: http://1.voicetruth.org

GOD is sending out His end time warning:

“Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name” (Revelation 14:9-11).

In the Islamic religion they have man called the Mahdi who is known as their messiah of whom they are waiting to take the stage. There are many testimonies from people online who believe this man will be Barack Obama who is to be the biblical Antichrist based off dreams they have received. I myself have had strange dreams about him like no other person. So much so that I decided to share this information.

He came on stage claiming to be a Christian with no affiliation to the Muslim faith…

“In our lives, Michelle and I have been strengthened by our Christian faith. But there have been times where my faith has been questioned — by people who don’t know me — or they’ve said that I adhere to a different religion, as if that were somehow a bad thing,” – Barack Obama

…but was later revealed by his own family members that he indeed is a devout Muslim.

So what’s in the name? The meaning of someones name can say a lot about a person. God throughout history has given names to people that have a specific meaning tied to their lives. How about the name Barack Obama? Let us take a look at what may be hiding beneath the surface…

“And He (Jesus) said to them (His disciples), ‘I saw Satan fall like lightning from heaven'” (Luke 10:18).

In the Hebrew language we can uncover the meaning behind the name Barack Obama.

Barack, also transliterated as Baraq, in Hebrew is: lightning

baraq – Biblical definition:

From Strongs H1299; lightning; by analogy a gleam; concretely a flashing sword: – bright, glitter (-ing, sword), lightning. (Strongs Hebrew word H1300 baraq baw-rawk’)

Barak ‘O’bamah, The use of bamah is used to refer to the “heights” of Heaven.

bamah – Biblical definition:

From an unused root (meaning to be high); an elevation: – height, high place, wave. (Strongs Hebrew word H1116 bamah baw-maw’)

The day following the election of Barack Obama (11/04/08), the winning pick 3 lotto numbers in Illinois (Obama’s home state) for 11/5/08 were 666.

Obama was a U.S. senator for Illinois, and his zip code was 60606.

Seek Jesus while He may be found…repent, confess and forsake your sins and trust in the savior! Jesus says we must be born again by His Holy Spirit to enter the kingdom of God…God bless!

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