– 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.
6:00 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
[dropcap]N[/dropcap]ews that big tech companies face antitrust scrutiny from U.S. lawmakers and regulators weighed very heavily on the Nasdaq yesterday.
QUOTE OF THE DAY:
“A positive attitude causes a chain reaction of positive thoughts, events and outcomes. It is a catalyst and it sparks extraordinary results.”
-Wade Boggs
The index and the S&P 500 both fell to their previous low (3/8 – green-dashed line).
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
This morning, stock futures point higher, with the Dow set to rise 100 points, or +0.4%. The Nasdaq and S&P 500 are set for similar gains.
In Europe, the FTSE 100 climbed +0.2% in early trading, while Germany’s DAX rose +0.9%. Stocks in Asia finished lower, with Hong Kong’s Hang Seng dropping +0.5% and the Shanghai Composite losing almost -1%.
Today we have earnings from Tiffany & Co (TIF), Lands’ End (LE), Salesforce (CRM) and GameStop (GME) earnings.
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BREAK OUT UPDATE:
Shares of TEAM got slammed to support as they lost nearly -7% Monday with an increase in volume.
This very highly-ranked, fundamentally sound, leader was most recently added to my Sunday Stock Report Watch List on May 5th, and also included in my – Stock WatchList Morning Update at BuyingBreakOuts.com.
Shares broke out late-afternoon on May 8th as they traded above our posted TRIGGER PRICE of $117.16 while volume was running twice the normal rate.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
We did have a new breakout yesterday in AWI, which was on our Technical SetUps WatchList. Volume on the breakout was -11% below the normal rate.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
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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.
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WATCHLIST UPDATE:
I continue to run stock screens on a daily basis searching for high-ranked leaders, with solid fundamentals that are building bullish technical bases.
I ran my routine stock screens this morning, yet did not find any new stocks to add to any of our watch lists.
There are now 10 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.