– 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]Y[/dropcap]esterday, the market recovered somewhat from Monday’s big sell-off. The Dow closed up more than 200 points, or +0.8%. The S&P 500 ended up +0.8%, and the Nasdaq gained +1.1%.
QUOTE OF THE DAY:
“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.
– Michael Jordan
Meanwhile, the trade fears that have gripped Asian markets in recent days appear to be tapering off.
Hong Kong’s Hang Seng index rose +0.5% Wednesday, while the tech-heavy Shenzhen Composite added +2.4% — helped by talk of new economic stimulus.
Japan’s Nikkei index gained almost +0.6%.
The picture is less sunny in Europe, where the Stoxx 600 index is down about -0.1%. Britain’s FTSE 100 is up only +0.2%. Markets in Germany are lower despite strong first-quarter GDP growth.
Back in the U.S., stock futures are pointing down. The Dow is set to drop about 20 points, or -0.1%, when markets open. The S&P 500 is pacing for a similar decline. The Nasdaq could open flat.
For earnings, we have Alibaba (BABA), Tencent (TCEHY) and Macy’s (M) announcing before the open.
The Census Bureau will release its US retail sales report for April at 8:30 a.m. ET.
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BREAKOUT UPDATE:
All May 2019 BreakOuts
May has not been the best month for the market. Actually, it’s more like the worst of the new year.
We have had only 3 breakouts thus far from the Technical SetUps WatchLsit which is included in the daily “Stock WatchList Morning Update“.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE | % GAIN/ LOSS |
| MMC | $94.90 | 5/4/19 | $95.92 | 5/11/19 | $98.57 | -1.06% |
| JAMES’ NOTES: |
Near negative reversal Tuesday. It did have a chance yesterday to at least partly negate Monday’s negative action, yet couldn’t hold its gains in the afternoon. Market not much help. | |||||
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE | % GAIN/ LOSS |
| JCOM | $84.84 | 5/9/19 | $90.38 | 5/9/19 | $94.90 | -6.13% |
| JAMES’ NOTES: |
Three days of above average volume declines. Shares are now quickly down to our final support of $84.50. A break below there, and this stock will be removed from coverage. | |||||
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE | % GAIN/ LOSS |
| TEAM | $123.77 | 5/2/19 | $117.16 | 5/8/19 | $123.02 | +5.64% |
| JAMES’ NOTES: |
Shares are well off of the recent +10% gains of last week, yet TEAM is holding up well in a tough market. Tuesday’s action is relatively good, especially when compared to the market and other stocks. I am nearly ready to raise our 1st SUPPORT to $120.oo. | |||||
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Stock WatchList: Morning Update
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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 FOR WEDNESDAY:
I ran my routine stock screens early this morning, yet did not find any new stocks to add our watch lists.
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.