Archives of “April 2019” month

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OPEC and Saudis both deny speaking with Trump about lowering oil prices

  
  Analysis

Trump said he called OPEC

One of the reasons oil prices sank today was because Trump said he “called OPEC” and asked them to lower oil prices.
OPEC Chief Barkindo said he hasn’t spoke with Trump, according to a report. Saudi officials also say they ahven’t discussed lowering oil prices with Trump.
Update: Trump is now back and saying he spoke to Saudi Arabia and others about oil prices.
trump tweet

The major economic releases next week

  
Analysis, Economy

FOMC rate decision. BOE rate decision. US employment report.

The calendar next week will be dominated by interest-rate decisions in the US and UK and the US employment report
Monday:
  • US core PCE
  • US personal spending and personal income
Tuesday:
  • China nonmanufacturing PMI
  • New Zealand ANZ business confidence
  • Germany preliminary CPI
  • EU preliminary GDP
  • Canada GDP
  • US employment cost index 1Q
  • US Chicago PMI
  • US consumer confidence
Wednesday:
  • New Zealand employment change and unemployment rate 1Q
  • UK manufacturing PMI
  • US ADP nonfarm payroll change
  • US ISM manufacturing PMI
  • FOMC rate decision and press conference
Thursday
  • China Caixin manufacturing PMI
  • UK BOE inflation report
  • BOE interest rate statement
  • BOE’s Carney press conference
Friday:
  • Australia building permits
  • UK services PMI
  • EU Flash CPI
  • US non farm payroll and employment statistics
  • US ISM nonmanufacturing PMI

S&P and Nasdaq close at record levels

  
Analysis, US Market

Major indices close higher. Dow down on the week. S&P and Nasdaq rise.

The major indices are all closing higher with the Nasdaq and the S&P closing at record levels.

The final numbers are showing:
  • The S&P up 13.71 points or 0.47% at 2939.88
  • The Nasdaq up 27.72 points or 0.34% at 8146.40.  The two-day high price for the NASDAQ was reach us we get 8160.
  • The Dow closed up 81.25 points or 0.31% at 26543.33
For the week, the indices are closing mixed with the S&P and Nasdaq moving higher and the Dow ending with modest declines. The numbers are showing:
  • The S&P was up 1.20%
  • The Nasdaq rose for the 5th straight week, rising by 1.85%
  • The Dow fell -0.06% for week.   Intel, 3M hurt the Dow this week. Intel is down over 9.4% in trading today after weaker guidance after the close yesterday.

Some winners today

  • Ford Motor, +10.74%. They reported higher earnings
  • General Electric, +4.99%. GE reports earnings next week
  • Amazon, +2.54%. Amazon said they would look to deliver to Prime members in 1 day.
  • Procter & Gamble, +2.50%
  • Caterpillar, +2.08%
  • Walt Disney, +1.95%
  • QUALCOMM, +1.85%
  • Netflix, +1.77%
  • General Mills, +1.71%
  • Gilead, +1.57%
  • Adobe, +1.55%
  • American Express, +1.48%
  • Alphabet, +0.69%. Alphabet will report earnings on Monday after the close.
Losers for the day included:
  •  Intel, -8.99%.  Beat on earnings but gave dismal for guidance
  • Target, -5.66%. The price tumbled on the Amazon news
  • Kessler, -5.04%
  •  Nvidia, -4.72%. He was dragged down by Intel
  • into it, -3.9%
  • Exxon Mobil, -2.18%. Earnings disappointed.
  • Walmart, -1.94%. See Target explanation above
  • Nucor, -1.74%
  • Square, -1.56%
  • micron, -1.52%
  • Home Depot, -1.4%
  • Apple, -0.48%. Apple will report earnings on Tuesday

Good Trades are made by managing the mind, ego, and emotions.

  
Analysis, Education

1. A good trade is taken with complete confidence, and follows your trading method. A bad trade is taken on an opinion. 
2. A good trade is taken with a disciplined entry and position size. A bad trade is taken to win back losses the market owes you.
3. A good trade is taken when your entry parameters line up. A bad trade is taken out of fear of missing a move. 
4. A good trade is taken to be profitable in the context of your trading plan. A bad trade is taken out of greed. 
5. A good trade is taken according to your trading plan. A bad trade is taken to inflate the ego.
6. A good trade is taken without regret or internal conflict. A bad trade is taken when a trader is double-minded.

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