Stock Market Ready for Profit-Taking | Ford Mach-E Unveiled

Ford Mach-E

Ford Mach-E

The stock market has traded into six consecutive well-bid weeks.

It's time to place that trailing stop-loss. The Santa Clause rally has completed. Take your profits and have a nice holiday. 

Why? Because starting new trades without a significant decline sets up horrible reward potential for the risk needed to justify the trade.

I'm not buying new breakouts. I'm looking for bullish stocks closing on the lows.

Can stocks continue to climb? Sure. Is it a good NEW long? No.

If you want to be a great trader you must learn to answer these questions with clarity:

"Is it a good long? Is it a good long now?

Clearly the first answer is yes. The second is no.

If you feel you must be long today, here is a list of stocks that traded double their normal volume on Friday and meet the criteria for bullish order flow.

Have a great day.

Pete

Why Dow 28,000 could mark that ‘blowoff top’ bears have been predicting

Last month, the Federal Reserve began snatching up short-term Treasury debt to the tune of $60 billion per month in response to the repo mess that sent a chill through Wall Street back in September.

While it might sound like another round of quantitative easing, Fed Chair Jerome Powell wanted to make it clear: It’s not. “In no sense is this QE,” he said.

marketwatch.com/dow-28000-blowoff-top

Worrisome sentiment levels push market bull Jeff Mills into pullback camp

Bryn Mawr Trust’s Jeff Mills believes the S&P 500′s longest weekly win streak in two years is on the verge of ending. The firm’s chief investment officer is on sell-off watch because he’s worried market optimism is getting too robust.

cnbc.com/stock-market-sentiment

Ford bets on an electric Mustang to charge its turnaround

LOS ANGELES (Reuters) – The Mustang Mach E electric sport utility vehicle Ford Motor Co (F.N) unveiled in Los Angeles on Sunday is more than another car for the storied automaker.

The Mach E has become within Ford a high-profile test for a restructuring that has been marred by profit warnings, costly quality problems and the troubled launch this year of another important vehicle, the Ford Explorer sport utility.

reuters.com/ford-mustang-mach-e

The Streaming Era Has Finally Arrived. Everything Is About to Change.

LOS ANGELES — Every three decades, or roughly once a generation, Hollywood experiences a seismic shift. The transition from silent films to talkies in the 1920s. The rise of broadcast television in the 1950s. The raucous “I Want My MTV” cable boom of the 1980s.

It is happening again. The long-promised streaming revolution — the next great leap in how the world gets its entertainment — is finally here.

nytimes.com/streaming-hollywood-revolution

Pete Renzulli
 

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