Archives of “stock market” tag

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Nasdaq closes at record highs. S&P trades above 3000 for first time, but backs off.

  
Analysis, US Market
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Major indices all closing higher

The major indices in the US are closing higher with the Nasdaq closing at a new record high. The S&P index traded above the 3000 level for the first time ever, but backed off that level. It is still closing higher on the day. The Dow snapped a 3 day losing streak today.
The final numbers are showing:
  • The S&P index, +13.44 points or 0.45% at 2993.07. The high reached 3002.98. The low extended to 2984.61
  • The Nasdaq rose 60.80 points or 0.75% at 8202.53. The high reached 8228.598. The low extended to 8160.56
  • The Dow rose 76 points or 0.29% at 26860.20. The high reached 26983.45 The low extended to 26813.11.
Some winners today:
  • Tesla, +3.85%
  • Micron, +3.75%
  • Beyond Meat, +3.61%
  • General Mills, +2.27%
  • AMD, +1.93%
  • Facebook, +1.77%
  • Nvidia, +1.75%
  • Chevron, +1.69%
  • Pfizer,+1.57%
  • Intuit, +1.53%
  • Alphabet, +1.48%
  • Amazon, +1.46%
  • Exxon Mobil,+1.43%
  • Cisco, +1.40%
  • Disney, +1.34%
  • Microsoft, +1.02%
 Some losers today included:
  • QUALCOMM, -2.86%
  • Target, -2.22%
  • Daimler, -1.57%
  • Deere and Company, -1.56%
  • Charles Schwab, -1.56%
  • Wells Fargo, -1.44%
  • Slack, -1.28%
  • Caterpillar, -1.22%
  • Bank of America, -1.16%
  • Morgan Stanley, -1.10%
  • Goldman Sachs, – 0.87%
  • Citigroup, -0.61%
  • PNC financial, -0.58%
  • Home Depot, -0.58%
  • Twitter, -0.52%

US Indices opened down on day and remained negative for the entire day

  
Analysis, US Market
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Major indice trade in the black but close mid range.

The closes in the major stock indices was near the middle of the day’s high and low. However, the major indices opened down on the day and remained negative for the entire day.
The final numbers are showing:
  • S&P index is down -14.45 points or -0.48% at 2975.95. The high reached 2980.76. The low extended to 2970.09.
  • Nasdaq index closing down -63.408 points or -0.78% at 8098.38.  The high reached 8112.91. The low extended to 8078.39
  • Dow is closing down -115.98 points or -0.43% at 26806.14. The high reached 26839.14. The low extended to 26744.87.
Below is graphical view of the % high and  %low and %close of the NA and European major indices.
Major indice trade in the black but close mid range.

S&P closes higher. That means it is another record close.

  
Analysis, US Market
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Major indices rise modestly on the day in up and down session

The S&P is closing higher. Since yesterday was a record high, that means today is a record as well (that analysis is pretty simple).
The Nasdaq remains below it’s record close at 8163.99.  The high today reached 8109.36 – near the closing level for the day.

The final numbers are showing:

  • The S&P index rose 8.68 points or 0.29% at $1413.56
  • The Nasdaq index rose 17.931 points or 0.22% at 8109.09
  • The Dow rose by 69.25 points or 0.26% at 26786.68
Looking at the % changes and % high/low levels, the major US stock are all closing at/near the highs for the day.   European shares (apart from the Portugal PSI20) closed higher as well.
Some winners today:
  • Verizon, +2.61%
  • Cisco, +1.95%
  • McDonald’s, +1.53%
  • Gilead, +1.49%
  • MasterCard, +1.41%
  • Delta Airlines, +1.33%
  • alphabetic, +1.15%
  • Facebook, +1.04%
  • Pfizer, +1.03%
  • Intuit,, 0.81%
  • visa, +0.78%
  • Microsoft, +0.66%
  • Walt Disney, +0.64%
  • Amazon, +0.63%
  • Apple, +0.59%
Some losers on the day include:
  • Nvidia, -2.37%
  • Beyond Meat, -1.88%
  • Chewy, -1.87%
  • Broadcom, -1.67%
  • Chevron, -1.52%
  • Charles Schwab, -1.42%
  • Dow DuPont, -1.31%
  • micron, -1.27%
  • Tesla, -1.15%
  • Exxon Mobil, -1.06%
  • Wells Fargo, -0.96%
  • Bank of America, -0.95%
  • Box, -0.91%
  • QUALCOMM, -0.66%
  • Boeing, -0.62%

 

Gerald Loeb’s Timeless Wisdom (1899-1974)

  
  Education
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I’m sure you’ve heard the expression, “the more things change, the more they stay the same.”  Gerald Loeb used this phrase frequently.  I’ve always had great respect for Mr. Loeb.  True, he was an extraordinary investor and a best-selling author.  But what I most respected him for was his business acumen.  As one of the founding partners of E.F. Hutton, he was often quoted preaching to investors about the need to approach investing as a business and with a business mind.

Early on, I took his advice to heart.  From the very beginning, I always made certain that I organized my investing activities in a manner that yielded timely investment reports and minimized taxes.  I also sought out the best professional accounting, legal, tax and estate planning advice because this is what Gerald Loeb advocated. 

Personally, his advice has been validated over the decades.  Having known a large number of traders, I’ve observed that the most profitable ones have seldom been the smartest or boldest.  They are usually organized individuals who are willing to focus on the small details.  They are those people who are comfortable with routines and have the discipline to follow them.  I’ve often noticed that they’re unpretentious as well – even humble at times.  (more…)

Avoid the pitfalls of ‘over trading’ and ‘under trading.’

  
  Education
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* There are basically two types of over trading. Trading too often and trading too many shares/contracts.

* Remember that there really is no good reason to trade constantly, since extreme over-trading creates stress, produces high commissions and can often lead to more losses.

* Market forces do not last forever and time has shown various examples of the law of gravity in the trading market- that whatever comes up must go down. – and vice versa.

* Instead of grabbing every opportunity that comes along (or thinking that it is an opportunity) make sure each trade setup meets the criteria of your trading plan, don’t be over confident or scared of making trades.

* Utilizing a risk calculator to determine the appropriate position size before you enter a trade can help you determine how many shares/contracts you initially buy. You can start off with a small position and add as the trade continues in your favor. It relieves stress to know that the amount at risk for each position you hold is well proportioned to the size of your entire account and this is great asset management.

* Whenever you feel that you did not stick to your trading plan and made a mistake, quickly learn from that and let it go.

30 Trading Rules

  
  Education
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1. Buying a weak stock is like betting on a slow horse. It is retarded.
2. Stocks are only cheap if they are going higher after you buy them.
3. Never trust a person more than the market. People lie, the market does not.
4. Controlling losers is a must; let your winners run out of control.
5. Simplicity in trading demonstrates wisdom. Complexity is the sign of inexperience.
6. Have loyalty to your family, your dog, your team. Have no loyalty to your stocks.
7. Emotional traders want to give the disciplined their money.
8. Trends have counter trends to shake the weak hands out of the market.
9. The market is usually efficient and can not be beat. Exploit inefficiencies.
10. To beat the market, you must have an edge.
11. Being wrong is a necessary part of trading profitably. Admit when you are wrong.
12. If you do what everyone is doing you will be average, so goes the definition.
13. Information is only valuable if no one knows about it.
14. Lower your risk till you sleep like a baby.
15. There is always a reason why stocks go up or down, we usually only learn the reason when it is too late.
16. Trades that make a lot of intellectual sense are likely to be losers.
17. You do not have to be right more than you are wrong to make money in the market.
18. Don’t worry about the trades that you miss, there will always be another.
19. Fear is more powerful than greed and so down trends are sharper than up trends.
20. Analyze the people, not the stock.
21. Trading is a dictators game; you can not trade by committee.
22. The best traders are the ones who do not care about the money.
23. Do not think you are smarter than the market, you are not.
24. For most traders, profits are short term loans from the market.
25. The stock market can not be predicted, we can only play the probabilities.
26. The farther price is from a linear trend, the more likely it is to correct.
27. Learn from your losses, you paid for them.
28. The market is cruel, it gives the test first and the lesson afterward.
29. Trading is simple but it is not easy.
30. The easiest time to make money is when there is a trend.

Gems of Jesse Livermore

  
  Education
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The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.

I don’t know whether I make myself plain, but I never lose my temper over the stock market. I never argue with the tape. Getting sore at the market doesn’t get you anywhere.

Patience is a virtue

  
  Education
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Virtue -PatiencePatience is a virtue, and no place does this truism hold more water than the stock market.  When a trader allows doubt, a facet of fear, to inform his trading decision, he sets himself up for failure.  The market does not care about the wants of an individual trader, whereas when making a turn across oncoming traffic, a mistake may result only in an oncoming driver slamming on his or her brakes in order to avoid an accident.  The market will not extend such a courtesy.  It will run over anyone and anything between it and where it is going without as much as an afterthought.  It is the responsibility, not of the market to go where the trader wants it to go, but for the trader to determine the most likely course of the market and plan accordingly.  Patience, achieved by a trader monitoring his internal dialogue, makes it possible.

Good Money Management Is The Key

  
  Education
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You can give anyone the best tools in the world and if they don’t use them with good money management, they will not make money in the markets….
We’re convinced that a person could make a profit simply by buying and selling the markets according to the dart board if they followed all the right things as far as money management is concerned.

Traders and investors spend all their time in search of the ultimate trading method. They have no clue that the road to stock market riches ultimately lies in sound money management.

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