– 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
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
[dropcap]Y[/dropcap]esterday was another rough day on Wall Street as the Dow closed -617 points, or -2.4%, lower. The S&P 500 also ended down -2.4% and the Nasdaq lost -3.4% on the session.
QUOTE OF THE DAY:
“Winning or losing of the election is less important than strengthening the country.
– Indira Gandhi
The latest trade battle between the United States and China is causing fresh pain for investors in Asia, but other global markets are looking brighter.
Hong Kong’s Hang Seng (HSI) closed -1.5% lower, the Shanghai Composite (SHCOMP) fell -0.7% and Japan’s Nikkei (N225) shed -0.6%. South Korea’s KOSPI (KOSPI) managed to buck the trend, edging -0.14% higher.
However, this morning, European indexes including the FTSE 100 (UKX), CAC 40 (CAC40) and DAX (DAX) all opened higher.
Also, U.S. stock futures are pointing up with the Dow set to rise about 160 points, the Nasdaq is tracking a +0.7% rise, and the S&P 500 could open up +0.5%.
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Now You Can Start Receiving James’ –
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.
Now just $9 a month through James’ BuyingBreakOuts.com website.
LEARN MORE ABOUT THIS SPECIAL 50% DISCOUNT OFFER HERE
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BREAKOUT UPDATE:
Marsh & McLennan Companies, Inc. (MMC – Nasdaq)
This choice selection barely broke out on last Friday as it traded just 23 cents above its TRIGGER PRICE.
Volume was +46% above the normal rate, and that is a sign of decent conviction.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY RICE |
| MMC | $94.70 | 5/4/19 | $95.92 | 5/11/19 | $98.57 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| 1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE |
CURRENT % GAIN/LOSS |
| 50 DMA | $92.00 | $88.25 | -1.27% |
Shares made an abrupt drop on Monday along with the broader market which gaped down considerably.
As previously noted – a break back down into the base or below our 1st SUPPORT would be an initial concern and that did occur.
I must now lower our 1st SUPPORT from $95 to the 50-day moving average, currently at $93.26.
Our 2nd SUPPORT is now the previous lows at $92.00.
NOTE: Receive this daily report in your email each morning.
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WATCHLIST UPDATE FOR TUESDAY:
I ran my routine stock screens early this morning, yet did not find any new stocks to add our watch lists.
I removed DISCA and SSP as each has fallen too far below their TRIGGER PRICE. Neither stock was a BUY.
We now have a total of 12 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.
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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.