– 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.
6:30 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
[dropcap]T[/dropcap]he trade war between the world’s two largest economies is escalating again after the United States hit China with higher tariffs and Beijing pledged to retaliate.
QUOTE OF THE DAY:
“What would life be if we had no courage to attempt anything?”
– Vincent Van Gogh
Yesterday, the Dow closed down -0.5% while the S&P 500 shed -0.3%, and the Nasdaq declined -0.4%.
This morning, Japan’s Nikkei Index closed down about -0.3%. The Shanghai Composite Index rose +3% and Hong Kong’s Hang Seng Index jumped +0.8%.
European markets opened higher, with Britain’s FTSE index up +0.7%.
U.S. stock futures, however, are pointing lower. The S&P 500 is set to open down nearly -0.2%. The Nasdaq and Dow are poised to start Friday -0.1%.
JD.com (JD), Marriott (MAR), Viacom (VIAB) and our E. W. Scripps Co. (SSP) are set to release earnings before the open.
U.S. consumer inflation data for April will post at 8:30 AM ET.
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Stock WatchList: Morning Update
Early each market morning James diligently screens through hundreds of high EPS and RS ranked stocks that have solid fundamentals.
He is looking for those select few which are setting up in sound technical bases and which looked poised to breakout that day.
Each stock is listed with specific trading criteria such as a TRIGGER PRICE, TRIGGER VOLUME and MAX BUY PRICE.
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BREAKOUT UPDATE:
We have had 2 breakouts so far this week. Both triggered with strong volume, as well as sharp daily price gains, while these stocks were blasting to new highs.
Other common characteristics these back-to-back breakouts share are each has very high ranks, solid fundamentals, and they are members of leading groups.
1 – j2 Global, Inc. (JCOM – Nasdaq)
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
CURRENT % GAIN/ LOSS |
| JCOM | $90.60 | 5/9/19 | $90.38 | 5/9/19 | $94.90 | +0.24% |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
NOTE: Receive this daily report in your email each morning.
2 – Atlassian Corporation Plc. (TEAM – Nasdaq)
A complete BreakOut Update for TEAM can be found here.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
CURRENT % GAIN/ LOSS |
| TEAM | $125.13 | 5/2/19 | $117.16 | 5/8/19 | $123.02 | +6.80% |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
A complete BreakOut Update for TEAM can be found here.
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WATCHLIST UPDATE FOR FRIDAY:
I ran my routine stock screens this morning, yet did not find any new stocks to add to any of our watch lists.
We now have a total of 11 stocks on our watch lists.
One of those is SSP from our Technical SetUps WatchList which is setting up in a tight base ahead of its earnings release this morning.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
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.
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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.