– 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
[dropcap]Y[/dropcap]esterday, the Dow closed higher for a sixth straight session, while the S&P 500 gained for the fifth day in six. The Nasdaq snapped a three-day losing streak.
QUOTE OF THE DAY:
“It is what we know already that often prevents us from learning.”
– Claude Bernard
The recent rotation out of leading stocks and tech stocks into previously out-of-favor value stocks may have subsided, as momentum stocks found their footing in Wednesday’s afternoon trading. Stocks in the IT sector also stabilized, rising +1% after three-straight losing sessions.
The lates on the China/U.S traded war is – President Trump has delayed planned China tariff hikes on Oct. 1 by two weeks as a “gesture of good will,” he tweeted.
This morning, U.S stock futures are higher while stocks in Europe are cautiously higher ahead of ECB meeting. The central bank is expected to push its deposit rate further into negative territory and potentially embark on a new round of asset buying.
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BREAKOUT UPDATE:
We have not had any new breakouts this week.
Investors have been rotating out of momentum into value shares at a rapid clip this week.
This took a toll on September’s 7 breakouts.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
% GAIN/ LOSS |
| BSX | $42.30 | 8/4/19 | $43.63 | 9/6/19 | $45.81 | -3.05% |
| TRI | $66.78 | 9/1/19 | $71.03 | 9/5/19 | $74.58 | -5.98% |
| MDLZ | $54.51 | 9/1/19 | $55.94 | 9/4/19 | $58.74 | -2.56% |
| MA | $269.95 | 9/1/19 | $283.43 | 9/4/19 | $297.60 | -4.76% |
| AKAM | $89.60 | 9/1/19 | $90.86 | 9/4/19 | $95.40 | -1.39% |
| ACGL | $40.57 | 8/25/19 | $40.30 | 9/3/19 | $42.32 | 0.67% |
| INFO | $65.59 | 8/10/19 | $66.17 | 9/3/19 | $69.48 | -0.88% |
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WATCHLIST UPDATE:
Regardless of any market status, I still run stock screens on a daily basis to always have a current watch list ready.
I added 2 new stocks to the watch list this morning and I also removed several others.
There are now 14 stocks that we will be watching for a traditional break out to new highs this coming week.
One of today’s new additions is:
| SYM | LAST | ADDED TO WATCH LIST |
TRIGGER PRICE |
TRIGGER VOLUME |
MAX BUY PRICE |
% FTP |
| IBP | $58.53 | 9/12/19 | $60.09 | 262,950 | $63.09 | -2.60% |
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.