February 4th, 2017 08:02
The bulls are not letting go of the reigns. It seems no executive order is shocking enough to break down this market. Good earnings from big companies like Apple certainly help, but this strength is truly impressive, especially considering the lack of clarification from the new administration regarding fiscal policy.
The market just doesn’t care about any of it. After breaking above last year’s resistance area, it just went on a steady uptrend. We saw some resistance as Dow approached the 20k mark and a small pull back just after it broke through, but this market is not being held down for long. It wants to go up so it’s going up. There is no reason to think otherwise at this point so we may as well enjoy the party until we see evidence to the contrary.
Many of AlpacaScan’s new (Beta) mobile stock stories are doing quite well. Below is the SPY chart followed by charts from some of our recent stories, including a couple that didn’t work.
We created and shared a mobile story for a short idea on AKS on January 23. It hit target with a gain of 10.87%
HOS was a mobile story we shared on January 26. It hit target today with a gain of 11.72%.
On January 30, we shared a story for a short on $PXD, but it stopped out the next day for a 1.30% loss. Here is that chart.
We put a story out on NVRO on January 31st. It’s currently looking strong and sitting on gains of 7.03%
Another one that didn’t work was EW which we shared on 2/1. It did not offer an entry so there was no loss. The stories are set up with an entry range so if the stock gaps out of the range, there is no entry. The funny thing about EW is we posted the story after it had beat earnings but it still went the other way. This reminds me of a saying an old trader friend of mine use to say, “it’s not the news, it’s the reaction to the news that moves the stock.” Here is that chart.
And just two days ago, we shared a story on MGPI. It’s up 4.06% since yesterday’s open.
The mobile stories offer detailed bite sized trade ideas right to your phone. We are still in the early stages but, if you’d like to be one of our beta testers with early access, simply click on this link AlpacaScan Mobile Stories | Alpaca. Check out our scan directly at AlpacaScan and keep up with our alerts on Twitter@AlpacaAlerts and Stocktwits@AlpacaAlerts.
As for me, I am heading to the mountains to enjoy the fresh powder with my family as usual. Call me a powder hound. Have a great weekend everyone and good trading!
The author, Danielle Spandau is a seasoned trader/investor and educator also known as The Trading Wife.
All information and/or opinions contained herein are impersonal, for informational purposes only, and do not constitute a solicitation or offer to sell securities or investment advisory services. The views and opinions expressed in this article are those only of the author(s) and do not necessarily reflect the opinions of Alpaca. If you are considering making an investment, you should consult with an investment professional.