– James F. Taulman, former Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system.
7:00 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
[dropcap]Y[/dropcap]esterday, the major averages broke initial support. The Dow closed below its 50 DMA for the first time since it reclaimed that important technical level on 1/17.
QUOTE OF THE DAY:
“Keep your face to the sunshine and you cannot see a shadow.”
– Helen Keller
Stock markets across Asia are struggling, as investors get increasingly nervous about the risk of a new US-China trade showdown.
Japan’s Nikkei Index dropped for the second straight day, shedding around -1.5%, while Hong Kong’s Hang Seng Index and the Shanghai Composite Index both closed more than -1% lower.
Chinese stocks have now fallen around -6% so far this week.
Wednesday’s slide comes on the eve of trade talks in Washington between China and the United States, which have been overshadowed by the Trump administration’s renewed threat to hike tariffs.
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For earnings today we have, Honda Motor (HMC), Madison Square Garden (MSG), New York Times (NYT), Office Depot (ODP), Thomson Reuters (TRI) and Wendy’s (WEN) announcing before the open.
Then, Fossil (FOSL), Hostess Brands (TWNK), Roku (ROKU), Stamps.com (STMP) and Disney (DIS) will report after the close.
WATCHLIST UPDATE:
I ran my routine stock screens this morning, yet did not find any new stocks to add to our watchlists.
I did remove STAA and EXEL as each has fallen too far below their TRIGGER PRICE. Neither triggered a BUY signal. We now have a total of 14 stocks on our watch lists.
Current Personal Portfolio Members can access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here.
Missed any of these morning reports? You can find all previous reports here.
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About the Founder: James F. Taulman – James served as Editor-in-Chief of the first independently licensed website that offered stock reports and services based on the CAN SLIM® investment system. He has developed a knack for being able to quickly and accurately analyze high-ranked stocks based on this winning investment strategy. Over the years, Mr. Taulman has enjoyed assisting individuals from professional money managers to private investors with their needs in relation to implementing this investment approach on a daily basis in the current marketplace. Each Sunday you could hear him deliver his weekly market report as part of the “Your Money Matters” radio program on ABC and CBS radio networks.
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Disclaimer: James Taulman is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The independent contractors and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company’s website, or in its publications, are made as of the date stated and are subject to change without notice. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company’s products (collectively, the “Information”) are provided for informational and educational purposes only and should not be construed as investment advice.