Stock Trading

Bad Apple takes Nasdaq down

Day trading AAPL watching as Nasdaq heads down as Apple makes up 20% of Nasdaq trading volume.

Apple (AAPL) is showing weakness as it heads into the first major support at $626 . Watch for consolidation at this level as price has come to the first major supporting trend line.
If price breaks through this level then the next area of support is $582 then an extreme sell off to $520.

It looks like we could see some support coming into $5400-60 area as this is the are of consolidation for the breakout from the inverted Head and Shoulders from May of this year.

Seasonally, this is when we start to see a rally begin, and pre election we could begin to see this sell off hit support and then rally into the elections.  Maybe the markets could see more selling into the election as a sign that the excessive spending is not supported any more and that the quantitative easing is not effecting the major inputs for a healthy economy.

One positive side we could see in this era of price inflation, if the dollar weakens more stock prices do normally have the tendency to go higher.  This also means we will have higher gas prices, commodities prices and unemployment going higher as inputs for smaller business increase.

Facebook Stock reaching 50% off

Facebook stock is reaching it’s 50% off price from the IPO.

Facebook FB Ipo price of $38 has plummetted to $20 level in today’s trading. As mentioned before in a previous Facebook Stock article, Professional traders will more than likely short this stock to 50% of IPO price then look for a settling price for support and buy back.

Although Facebook stock did hit highs around $45, most traders use the IPO price. If there is a sell off in stocks this next week, then we could even see lower to $16.

Stock trading – a few stocks to watch – no entry on swing trade

Stock trading – a few stocks to watch – no entry on swing trade

New pick on the day, First checking the fundamentals on trading the symbol QCOR

Stock Trading Analyzer Result for QCOR

Analysis passed the average estimates test: Current Quarter 0.37, Next Quarter 0.38, Current Year 1.18, and Next Year 1.88

Analysis passed the number of analysts is above 3: Current Quarter 6.00, Next Quarter 3.00, Current Year 4.00, and Next Year 7.00

Analysis passed Earnings History Surprise test, however be warned 4 Quarters Ago is negative : Last Quarter (42.30%), and 2 Quarters Ago (15.00%), 3 Quarters Ago (17.60%), 4 Quarters Ago (-20.00%)

Analysis passed EPS Trends test, however be warned: Next Year EPS trends is not all ascending 1.43, 1.42, 1.82, 1.86, 1.88 Current Year (0.96, 0.97, 1.16, 1.18, 1.18), Next Year (1.43, 1.42, 1.82, 1.86, 1.88)

Analysis passed Growth Estimate test: Passed Growth Estimate for next quarter (90.00%), next year (59.30%), and next 5 years (42.25%) all above 20%

Looking at the stock trading Chart for QCOR we can see levels of support on this move up.  Notice that we are also at the top of a consolidate range on this move up.  With the Dollar index pointing higher and the S&P500 headed lower we could be looking at a topping pattern.  Taking the break of this resistance could come in as a head fake.  Check the risk and use the risk parameters congruent with your account.  Remember that it is exposure that is the measure, not the risk.

Trading off a topping pattern like this is very volatile.  Remember that we are in December and the volume is decreasing.

Watch for a reversal and continuation off of the 37.50 support if it is to occur, at least you will have been able to wipe out a great deal of risk on the entry.

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Disclaimer: day trading is high risk, do your own work : The efficacy of both technical analysis and fundamental analysis is disputed by efficient market hypothesis which states that stock market prices are essentially unpredictable. Be responsible for your trades, do your own work and never rely on others. When searching for a Day trading course, be sure you understand the risks involved in futures and stock trading.