Day Trading Thoughts For Thurs. Apr. 23

E

erikrkolodny

ET Sponsor
Yesterday for the first Wednesday morning in quite some time, there was something I did not do: halt everything and stare at my computer terminal at 10:30AM for the weekly oil inventories report. From the positive perspective, it is shows how little oil is correlated with the market these days because I didn’t think to look plus my focus was elsewhere. From the negative perspective, well, my focused was elsewhere and I didn’t think to look. Let’s briefly discuss both points. As far as oil is concerned, everyone tracked oil at this point last year to the point where many trading operations did their trades with a darn near inverse tick-for-tick oil to S&P 500 futures mindset. It is almost impossible to believe, but it is still less than a year that oil was selling for over 100 dollars a barrel higher than it is now. As time went on, the correlation swung the other way; falling oil prices were viewed as a negative for the worldwide economy. Thus, for awhile, as the market rallied, so would oil and vice versa. But now? Now the markets are much more focus on things like the survival of the banking system with oil way on the backburner. Moral 1: don’t stare at oil on any given day right now for clues as to where the market goes. As for the second point, even though it is not good to stare at oil prices, it is also not good not to glance either. As traders, we must be attuned to every piece of news there is that can move markets; it is why I tend to be so very busy during earnings seasons. While information overload is not good obviously, I do what I can to simply keep up rather than try to know every piece of minutia. And the fact of the matter is that a particular bad or good oil report can provide a jolt still because of the whole ‘world economy’ paradigm in that building or declining inventories can signal the temperature of the economy. Thus, moral 2: don’t repeat my mistake; indeed, oil prices broke fairly hard right at 10:30AM yesterday and it was an opportunity missed. Daily epiphany: One must keep up with every major piece of news (even oil news) because one never knows where the next trade may exist.

Markets in Asia were up a bit overnight with the Nikkei up over 1% and the Hang Seng over 2%. The European bourses are generally up slightly with the DAX down slightly. State-side, futures are up a bit with techs leading the way; there seems to be no real reason for that to change despite yesterday afternoon’s freaky sell-off. I am looking for a grinding generally upside session with the best trades coming in techs and the myriad of earnings plays out there.



Reiterating-
Please understand that if the ideas do not get to the hoped for set-ups cited below, more often than not, one should not blindly trade the symbol next to said idea.
If the whole story is not there -
If something is good, assume either a short thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified-



Good- The following stocks have good news and/or a strong technical pattern

AAPL- good earnings

EBAY- good earnings

QCOM/BRCM- on verge of finally announcing settlement

NUVA- great earnings

CMG- terrific earnings

YUM- great earnings

EFX- good earnings

PTV- great earnings

TSCO- good earnings

ABMD- received 510k clearance on its lead device

WGOV- good earnings

NE- good earnings

FMER, TOL- featured on “Mad Money” last night

DOX- decent earnings

XLNX, NVLS- decent earnings

DO- good earnings

FITB- great earnings

HSY- good earnings

MAR- good earnings

NIHD- good earnings

PNC- good earnings

RTN- good earnings

STI- good earnings

ZMH- good earnings

RSH- good earnings

ESI- good earnings

OXY- good earnings

NVS- good earnings

RCL- good earnings

UNP- good earnings

JBLU- great earnings

LCC- good earnings

MI- good earnings

COP- good earnings

DLX- good earnings

EXC- good earnings

ABC- good earnings


Bad-The following stocks have bad news and/or a weak technical pattern

BCR- poor earnings

VMW- atrocious earnings

FFIV- poor earnings

TMK- poor earnings

LRCX- bad earnings

WCN- closed near a low

ARE- closed near a new trend low…scary considering most other REIT’s are well off of their lows

SVR- closed near low of day

CVA- closed near low of day

RJF- bad earnings

BG- bad earnings

NCR- bad earnings

POT- lowered guidance

TMO – bad earnings

ALXN- bad earnings

CIT- bad earnings

BDK- bad earnings

NOV- bad earnings

HSC- bad earnings

Earnings:

THURS APR 23 BEFORE
ABC ALK ALXN
AN AUO AVT
BDK BG BHE
BLL CBE CIT

CLP CLS CME

COP CP DHR

DLX DO EMC

ESI ESV EXC

EXP FCF FITB

GDI GMT GR

HSC HSY IGT

IVZ JBLU JNS

LCC LH LLL

LTM MAR MI

NCR NFX NIHD

NOV NUE NVS

ODFL OMTR ORI

OXY PENN PEP
PM PNC POOL
POT RCL ROP
RS RTN RX
SCG SEIC SIAL
SPWRA STI SU
SVU TASR TCB
TMO UCBI UNP
UPS VLY WCC
WTNY ZMH
THURS APR 23 AFTER

ACF ALGN AMGN
AMZN ATHR AVCT
AXP BNI BUCY

CAKE CATY CB

CF CNW CPHD

CYBS CYN DDR

DECK DFG DV

EMN EZPW FII
FNB GBCI GRA
IBKR INFA INSU
JNPR KLAC MHK
MSCC MSFT NFLX

NTY PMCS RMBS
RVBD SIVB SKT
STAR STSA SWKS
SYNA WDC WFR
YRCW


Good luck today.

Erik R. Kolodny
 
Happy Birthday ERIK!!!!


Quote from erikrkolodny:

Yesterday for the first Wednesday morning in quite some time, there was something I did not do: halt everything and stare at my computer terminal at 10:30AM for the weekly oil inventories report. From the positive perspective, it is shows how little oil is correlated with the market these days because I didn’t think to look plus my focus was elsewhere. From the negative perspective, well, my focused was elsewhere and I didn’t think to look. Let’s briefly discuss both points. As far as oil is concerned, everyone tracked oil at this point last year to the point where many trading operations did their trades with a darn near inverse tick-for-tick oil to S&P 500 futures mindset. It is almost impossible to believe, but it is still less than a year that oil was selling for over 100 dollars a barrel higher than it is now. As time went on, the correlation swung the other way; falling oil prices were viewed as a negative for the worldwide economy. Thus, for awhile, as the market rallied, so would oil and vice versa. But now? Now the markets are much more focus on things like the survival of the banking system with oil way on the backburner. Moral 1: don’t stare at oil on any given day right now for clues as to where the market goes. As for the second point, even though it is not good to stare at oil prices, it is also not good not to glance either. As traders, we must be attuned to every piece of news there is that can move markets; it is why I tend to be so very busy during earnings seasons. While information overload is not good obviously, I do what I can to simply keep up rather than try to know every piece of minutia. And the fact of the matter is that a particular bad or good oil report can provide a jolt still because of the whole ‘world economy’ paradigm in that building or declining inventories can signal the temperature of the economy. Thus, moral 2: don’t repeat my mistake; indeed, oil prices broke fairly hard right at 10:30AM yesterday and it was an opportunity missed. Daily epiphany: One must keep up with every major piece of news (even oil news) because one never knows where the next trade may exist.

Markets in Asia were up a bit overnight with the Nikkei up over 1% and the Hang Seng over 2%. The European bourses are generally up slightly with the DAX down slightly. State-side, futures are up a bit with techs leading the way; there seems to be no real reason for that to change despite yesterday afternoon’s freaky sell-off. I am looking for a grinding generally upside session with the best trades coming in techs and the myriad of earnings plays out there.



Reiterating-
Please understand that if the ideas do not get to the hoped for set-ups cited below, more often than not, one should not blindly trade the symbol next to said idea.
If the whole story is not there -
If something is good, assume either a short thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified-



Good- The following stocks have good news and/or a strong technical pattern

AAPL- good earnings

EBAY- good earnings

QCOM/BRCM- on verge of finally announcing settlement

NUVA- great earnings

CMG- terrific earnings

YUM- great earnings

EFX- good earnings

PTV- great earnings

TSCO- good earnings

ABMD- received 510k clearance on its lead device

WGOV- good earnings

NE- good earnings

FMER, TOL- featured on “Mad Money” last night

DOX- decent earnings

XLNX, NVLS- decent earnings

DO- good earnings

FITB- great earnings

HSY- good earnings

MAR- good earnings

NIHD- good earnings

PNC- good earnings

RTN- good earnings

STI- good earnings

ZMH- good earnings

RSH- good earnings

ESI- good earnings

OXY- good earnings

NVS- good earnings

RCL- good earnings

UNP- good earnings

JBLU- great earnings

LCC- good earnings

MI- good earnings

COP- good earnings

DLX- good earnings

EXC- good earnings

ABC- good earnings


Bad-The following stocks have bad news and/or a weak technical pattern

BCR- poor earnings

VMW- atrocious earnings

FFIV- poor earnings

TMK- poor earnings

LRCX- bad earnings

WCN- closed near a low

ARE- closed near a new trend low…scary considering most other REIT’s are well off of their lows

SVR- closed near low of day

CVA- closed near low of day

RJF- bad earnings

BG- bad earnings

NCR- bad earnings

POT- lowered guidance

TMO – bad earnings

ALXN- bad earnings

CIT- bad earnings

BDK- bad earnings

NOV- bad earnings

HSC- bad earnings

Earnings:

THURS APR 23 BEFORE
ABC ALK ALXN
AN AUO AVT
BDK BG BHE
BLL CBE CIT

CLP CLS CME

COP CP DHR

DLX DO EMC

ESI ESV EXC

EXP FCF FITB

GDI GMT GR

HSC HSY IGT

IVZ JBLU JNS

LCC LH LLL

LTM MAR MI

NCR NFX NIHD

NOV NUE NVS

ODFL OMTR ORI

OXY PENN PEP
PM PNC POOL
POT RCL ROP
RS RTN RX
SCG SEIC SIAL
SPWRA STI SU
SVU TASR TCB
TMO UCBI UNP
UPS VLY WCC
WTNY ZMH
THURS APR 23 AFTER

ACF ALGN AMGN
AMZN ATHR AVCT
AXP BNI BUCY

CAKE CATY CB

CF CNW CPHD

CYBS CYN DDR

DECK DFG DV

EMN EZPW FII
FNB GBCI GRA
IBKR INFA INSU
JNPR KLAC MHK
MSCC MSFT NFLX

NTY PMCS RMBS
RVBD SIVB SKT
STAR STSA SWKS
SYNA WDC WFR
YRCW


Good luck today.

Erik R. Kolodny
More...


Today is Erik Kolodny's birthday. As his content is of amazing value to our community at Epiphany Trading, Elite Trader, his blog readers, the Epiphany Chat and audio, I am taking this space to thank him for his work.

If you have appreciation for his work, here and today is as good as anytime to say thank you.


Brendan P. Byrne, President
Epiphany Trading, LLC
 
Quote from EpiphanyTrading:

Happy Birthday ERIK!!!!





Today is Erik Kolodny's birthday. As his content is of amazing value to our community at Epiphany Trading, Elite Trader, his blog readers, the Epiphany Chat and audio, I am taking this space to thank him for his work.

If you have appreciation for his work, here and today is as good as anytime to say thank you.


Brendan P. Byrne, President
Epiphany Trading, LLC
More...

You're a none sponsor and you should not be here mentioning the title of your website (business).

All it will do is raise suspicion about Erik's agenda after seeing you spam in other message posts today elsewhere here at ET about the services you offer.

However, please note that I do know that ET management sometimes are a little slow in that you may actually be now a paying sponsor but they forgot to put the sponsor title below your name (it's happen before in the past with other sponsors).

If that's the case, you're now a sponsor...

Please ignore my message.

P.S. Lately ET management has set new standards by ignoring it's own TOU policy via allowing a select few to mention their services while not officially being sponsors.

Simply, I wouldn't be surprise if they have already decided to allow you to continue doing what your doing.

To ET moderators, if that's true...please delete my message post.

Mark
 
Erik, you need to tell Brendan to take a week off from posting here and you may want to check out some of the stuff he's been posting under the Epiphany name. You probably won't be too happy about it.
 
Quote from powerfade:

Erik, you need to tell Brendan to take a week off from posting here and you may want to check out some of the stuff he's been posting under the Epiphany name. You probably won't be too happy about it.
More...

Anonymous,

Feel free to contact me directly. Erik is my partner. We have mutual trust an respect. Epiphany Trading is having tremendous success as of late. If you have additional suggestions, you can email email Erik or I directly.

More so, I have looked back at your past posts. You are merely a heckler with no value add to any trader.

EMAILS REMOVED
 
Quote from EpiphanyTrading:
More...
Brendan, I already sent Erik a PM detailing your ridiculous attempt to advertise your upcoming seminar disguised as a 'question' about whether you made the right move by cutting Nison a check before you actually knew whether he was an authority.

With regard to my posts here, I call 'em like I see 'em. There are several people who posted in the same vein in that 'thread' you started today. I've done my best to be a contributing member. If you see it differently, I respect your opinion, even if I disagree.

At least I'm not a spammer.
 
EpiphanyTrading, your email contact information has been removed. Unless you are a sponsor here, please do not post links or email addresses indirectly soliciting business/response.

Should you wish to become a sponsor, you may PM "Baron" and he can give you information on becoming one.

Thank you.
 
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