Weekly Shake Down

Trading Experts

TE Shakedown 7/22/17

Back to back very strong weeks in the market. We saw Nasdaq lead the way once again, with the S&P displaying great strength as well. It's important to note that the indices are very extended on the daily charts and could use some rest in the form of consolidation. I would expect some chop in the next couple weeks. That being said -- it's a stock pickers market and 'our' stocks, the high beta's, have been yielding HUGE moves. We did a great job capitalizing as a collective this week. 

Last Week's Recap

Earnings Watch

BIG week for earnings

Mon: GOOGL, SWK

Tues: MMM, AKS, BIIB, DPZ, DD, CAT, LLY, GM, JBLU, KMB, MCD, EDU, PCAR, STX, AKAM, AMGN, CMG, HA, IRBT, X, WYNN

Wed: ALK, BLMN, BA, F, GD, LL, MBLY, WM, WHR, BWLD, EW, FB, GILD, PYPL, NOW, WFM

Thurs: ALXN, MO, ADP, CELG, COP, DOW, LLL, TREEL MA, MCK, SAVE, TAL, UPS, VLO, VZ, WWE, BIDU, EA, IMPV, MSCC, MULE, SGEN, SBUX, SYK

Fri: AAL, ABBV, XOM, POR, YNDX 

Watchlist Material

Featured stocks have had positive earnings reactions and should be placed on a watchlist to look for a future setup in. We want to see these stocks consolidate by going sideways and getting as tight as possible. 

Actionable Charts

Trade of the Week: BIDU Long

While BIDU may be a bit extended on the daily chart, the weekly chart is what really matters here. If it triggers Monday morning I will keep a relatively tight stop as I want to see it go right away (and it is very extended on the daily --- so if it fails the level I'd like to retry from a lower price).

***Earnings Thursday after the close

I cannot stress the importance of knowing when your stocks have earnings. I never hold stock into earnings as it is a pure gamble.

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