Today’s Earnings Trades! TSLA – FB – MSFT 4-29-20
Stop Trying to Become the World's Greatest Chart Reader!
CHART READING IS NOT TRADING: Finding a trading strategy that works for you is the key to stock market success.
When I say for "you" I mean it literally.
We all come to the markets with different experience, capital, risk tolerance and education.
With all of these factors, it's important to find something that works for your unique situation.
For me, I became a tape reader, a trader. Which is different from a chart reader.
How is that NOT the same?
You, me, everyone, we opened trading accounts to make money, not to become the world's great chart reader.
In today's episode of Stocks for Breakfast i walk you through a scenario that was asked in our coaching group:
"There's multiple charts to interpret...How do I know which ones to focus on?"
A great trading question! Watch today's video.
Trading Game Plan 4-29-20
Is it time to sell the news?
Watch: Today's Best Stock Picks
The stock market rallied for five weeks on bad news. Oil, Pandemic, jobless claims. New of the world beginning to re-open and we saw vicious selling.
Many strong stocks traded into failed breakouts and reversed hard, with increased volume.
Stocks scheduled to report earnings today include TSLA, FB, MSFT, MA, and BA.
Boeing stock has offered great day trading opportunities the last five days, so that will be on my watch list again.
I plan to wait for the TSLA, FB and MSFT earnings before I trade them.
I find it much easier to find trades I like after the dust settles. Especially the few days after earnings.
We had some nice trades recently in JPM and NFLX after guidance came in lower than expected.
We also review a dozen other potential new stocks to trade today.
Have a great day!
Pete
