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Keep Ahead of the Game

As my subscribers can tell you, I’m far from a “perma-bear”… or an eternal optimist. I simply want to get into winning trades — no matter what the market is doing — and take the openings I see before the world catches on.

So, if I can impart a single piece of advice today, it’s this… Keep in mind that what you see on a stock chart, that’s the past. The key to our Trader’s Advantage success is our ability to look around the corner and determine what’s heading our way.

As traders, if we have a clear picture of what’s coming, then all we need is a strategy. In Trader’s Advantage, we employ a three-pronged plan of attack:

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Jon Markman

Editor, Trader's Advantage

Jon uses over 25 years of swing-trade experience to capture profits in 90 days or less. Learn How…

Wall Street Asleep at the Wheel

Stocks have inched along in no hurry this week, resuming their mesmerized state of affairs. The market has been in a trance for the past month; everybody just hold hands and say “omm” to get in tune with the meditation. Terror attacks, sensational earnings reports, major mergers and two political conventions have come and gone, and investors have responded with a resounding Zzzz.

The market is mostly humming along at a very subdued pace, just like the economy, as we have seen positive and negative data points released over the past week. In today's Trader's Advantage, I'm adding three new trades, then I'll recap our three new exits and provide my latest instructions for current positions.

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Energy Stocks Continue to Retreat

Stocks traded modestly higher in afternoon trading as the market continued to digest yesterday's Federal Reserve statement.

Sectors remain mixed as utilities and staples were strongest, while energy and telecom sold off. Crude oil has traded down another leg, extending losses to a new three-month low amid renewed oversupply concerns. Gold furthered a rally for a third session amid a weaker dollar.

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Federal Reserve Keeps Rates in Check

Stocks were slightly higher in quiet afternoon trading after the Federal Reserve announced that its rate-setting committee had decided to make no changes in monetary policy.

Earnings of major companies were largely positive but did not appear to be driving the narrative.

Tech and telecom topped gains, led by a 7.3% surge in Apple (AAPL), while consumer staples and energy lag. Crude oil were lower, gold was higher and Treasurys were higher.

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All Eyes on Earnings, Fed Meeting

Stocks failed to impress again today, particularly the large-caps. The Russell 2000 small-caps fared better, as did the Nasdaq, which managed a small gain despite Apple's (AAPL) 0.7% decline ahead of its quarterly report after the close. So far, though, its numbers have been well received, with the stock up 6.7% in after-hours trading.

Overall, earnings have been mixed and include a revenue miss for Verizon (VZ) that hit the shares hard, along with those of its telecom peers. Utilities and consumer staples also lagged, while materials and industrials are leading the gainers. Bonds were higher as Fed officials began their two-day meeting.

In today's Trader's Advantage, I'm canceling an unfilled buy order, then I'll provide my latest instructions for my other recommendations.

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