– 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.
8:30 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
[dropcap]T[/dropcap]his morning, futures are higher after the major averages ended lower on Thursday as the Dow shed +0.5%, while the S&P 500 and Nasdaq declined +0.2%.
For Friday, European markets opened their day mixed. Most stocks markets in Asia closed out the week with gains.
QUOTE OF THE DAY:
“Reading is to the mind what exercise is to the body.”
– Joseph Addison
It’s a slower day for earnings releases as DISH Network (DISH), Fiat Chrysler (FCAU) and Newell Brands (NWL) will release earnings before the open.
Also of note, the latest jobs report is set to be published at 8:30 a.m. ET and is estimated to show a healthy 185,000 jobs added in April. The unemployment rate is expected to remain at 3.8%.
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BREAKOUT UPDATE:
Our PCTY which recently broke out from the Technical SetUps WatchList just reported earnings yesterday which showed a +207% increase in the 1st quarter vs the same quarter a year ago.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
| PCTY | $95.94 | 4/14/19 | $91.71 | 4/16/19 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE |
1st SUPPORT |
2ND SUPPORT |
MAX STOP LOSS GUIDE |
CURRENT % GAIN/ LOSS |
| $96.30 | $90.00 | 50 DMA | $84.37 | +4.61% |
Shares remain in an uptrend, yet a break below that upward trendline (dashed-line) would be the first concern for subscribers who bought the 4/16 breakout and sit with +4.6% gains.
Our 1st SUPPORT is now the round-$90, then just below there we have the 50-day moving average as our 2nd SUPPORT, currently at $88.09.
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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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WATCHLIST UPDATE:
I ran my routine stock screens early this morning and after adding 4 new stocks to out watch list yesterday, I did not find any new stocks to add today.
There are still a total of 17 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.