– 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.
8:00 AM – MORNING MARKET UPDATE & WATCH LIST
[dropcap]T[/dropcap]he market is set to continue making gains this morning as futures are pointing to a higher open.
QUOTE OF THE DAY:
“Formal education will make you a living; self education will make you a fortune.”
– Jim Rohn
We had 9 BreakOut Alerts last week, and several of those remain within a buyable range.
However, considering the recent sharp rally run-up, I would continue to advise members to remain nimble. A pullback from these historic levels seems imminent, although we will take it on a day-by-day basis. A one-day drop, or multi-day pullback may not change the rally’s technical outlook too much. Keep in mind that the 10-day line on any of the major indexes, especially the Nasdaq, should be monitored. An index closing below their respective 10 DMA would be very concerning. (green line on the above charts)
Investors who hold positions should continue to be prepared and aware. Any of your technically weaker stocks should be listed to potentially be sold first if things get ugly.
For example, look at the charts of the last 30-days of BreakOut Alerts and see that this would include stocks such as FNV, LCII, RPM, MLM, GPI. All are looking weak, and should be up the block, if not already cut, as each has shown previous SELL signals.
Compare those to other BreakOut Alerts from the same time frame which have solidly established uptrends such as ACIA, BWXT, RCII, ENTG, FCN, AME, ACGL (with a nice test of support), CCOI, TJX, and FCN.
A quick study of those two lists should help you to put your own personal list of holdings in proper order, and put you in a position to more easily execute any needed paring.
This morning, stock futures are higher after the Dow and S&P 500 finished Friday in the red. Markets in Europe mostly increased in early trading. Stocks in Asia also rose, with the Hang Seng gaining +1.1%.
Tomorrow, earnings season kicks off in earnest. Delta Air Lines, JPMorgan Chase, Citigroup and Wells Fargo will report results.
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CHART HIGHLIGHTS
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BREAKOUT ALERT UPDATE:
The latest BreaOut from our watchlist.
Bruker Corporation (NASDAQ – BRKR)
Bruker Corporation manufactures and distributes scientific instruments, and analytical and diagnostic solutions in the United States, Europe, the Asia Pacific, and internationally.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
| BRKR | $51.92 | 1/2 | $52.25 | 1/10 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE | 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE | % GAIN/LOSS |
| $54.59 | 50 DMA | $49.00 | $48.07 | -0.63% |
NOTE: This stock was first featured in my “Stock WatchList: Morning Update” before it broke out. You can now start receiving my “Stock WatchList: Morning Update” each market morning through the BuyingBreakOuts website for only $9 a month or just $97 for an entire year here.
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Have you seen the new
Premium Members Area at…
BuyingBreakOuts.com ?
Our new Premium Members Page now features the current watch list and past 30-days of breakouts.
These stocks are now presented with more data points – update continuously throughout the trading day.
Each selection is featured with an annotated chart – showing support levels and other specific trading criteria that is updated nightly.
See the latest watch list additions which are near a breakout, follow the ongoing chart analysis and updated support levels, for your holdings.
We also have a new, faster BreakOut Alerts system, – alerts are now available as a text message to your cell phone.
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WATCHLIST UPDATE:
No matter the market, I always have a current watch list ready. There are now 8 stocks that we will be watching for a traditional break out to new highs.
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.