– 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

Wednesday was somewhat of a quiet session as the Dow closed the day off just a fraction (-0.07),  the Nasdaq lost -24 and the S&P ended up just +2.


QUOTE OF THE DAY:

“The worst thing that happens to you may be the best thing for you if you don’t let it get the best of you.
– Will Rogers


This morning, however, stock futures point significantly higher after a spokesman for China’s Ministry of Commerce told reporters that Beijing and Washington have discussed rolling back tariffs.

Markets in Europe opened in positive territory, while most stocks in Asia finished the day with gains.

Earnings seasons continues with 384 companies reporting today. First, we have key names such as AMC Entertainment, ArcelorMittal, Keurig Dr. Pepper, Ralph Lauren and SeaWorld Entertainment reporting before the open. Then, Activision Blizzard, Disney, Dropbox, GoPro, Lions Gate Entertainment, Yelp and Zillow follow after the close.

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WATCHLIST UPDATE:

No matter the market, I always have a current watch list ready. There are now 11 stocks that I will be watching for a traditional break out to new highs.

Here are 2 stocks from the list which looked poised to break out after just announcing strong earnings.

 

Shares of Fleetcor nearly broke out for us back on 10/28 as they came within 24 cents of the stock’s TRIGGER PRICE at $304.75. Since then, this Financial Services leader had drifted back to support of its 50-day moving average.

Wednesday, the company announced earnings after the close which beat on EPS and revenues, while management raised guidance.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.



Om Wednesday morning, CGI which is a Computer-Tech Services company, reported strong Q4 and Fiscal 2019 results. Shares actually came very close to breaking out on that news as the stock blasted higher from support of the recent lows, on twice the normal volume.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.


NOTE: Members can access all of the stocks which are currently on the watch list. Each is listed with specific trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE here.

Questions? – Click here.

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BREAKOUT UPDATE: 

Our BEP breakout continued to make new highs Wednesday. Shares are now +13.5% above their TRIGGER PRICE of $38.04.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

NOTE: This stock was first listed on my Technical SetUps WatchList. You can now start receiving my Technical SetUps WatchList each market morning through the BuyingBreakOuts website for only $9 a month here.

Questions? – Click here.

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“Morning High-Ranked Stock Watch List & Intra-Day BreakOut Alerts”

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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.