Trading tip of the week…
This week’s trading tip happens to be one of my most important ones.
Trading the headlines won’t get you very far.
Tell me this, have you ever been watching the news, and you see a story regarding a stock in your portfolio? Maybe it’s positive news, or perhaps it makes your stomach drop – but you immediately run to check your investments. You rush to buy more the stock or sell your position. It is a jumble of emotions and rush trading – two things that don’t mix well.
So, now and then, it’s a good thing to turn off your TV and focus on your trading strategy and plan. Because truthfully, the only thing that matters is price action and price momentum. Those two things, paired with your trading criteria, will lead you in the right direction.
And I’m telling you this now for a good reason. As we get closer and closer to the election, you will be bombarded with breaking news every minute of every day. One analyst believes that a candidate could be could for the market, the next analyst disagrees, and the next says they are neutral. It’s going to be a lot of “tug of war” for your time and your attention.
But that best thing you can do is step back from your TV and reflect on your trading plan.
This Opportunity Expires at Midnight!
As I mentioned above, one of the best things you can do is remove all distraction and emotion when trying to zero in on the perfect trade.
And that’s what I’ve been helping my 1450 Club members do, with the guidance of my S.C.A.N. trading algorithm.
I hate to gloat, but the results have been pretty spectacular… even including a 2-hour turnaround on a 98.46% winner!
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An Earnings report that has caught my eye:
It’s another week of earnings reports.
And I know you don’t have time to be sifting through all the numbers and news.
So, here’s the one I’ll be focusing on, and I think you should too:
Conoco recently announced a $9.7 billion all-stock takeover of Concho Resources. Concho is a fracker focused on the Permian Basin, which happens to be a massive oilfield in West Texas. This deal will make Conoco the most massive independent oil-and-gas name in the United States.
And now, shortly following the acquisition, COP is set to report earnings on Thursday, October 29.
Now, many are looking forward to this earnings reports givens COP’s big gamble in the already struggling oil industry. Because even with this new acquisition, the company will still face the same obstacles that have plagued the industry for years. These hurdles include the rapid development of hybrid vehicles, a push for the greenest initiatives, and more.
So, I’ll be keeping a close eye on this earnings report – and I’ll be sure to keep you updated as well.
Speaking of earnings…
Intel used to be one of the biggest names in technology stocks. But over the last few years, we’ve seen it tumble and fall. And now, the data center’s sales sank more than expected in the third quarter, which in turn sent shares down 10%.
The chipmaker reported a third-quarter net income of $4.3 billion in its recent earnings report, breaking down to $1.02 a share, down more than 28% from last year. After adjusting for restructuring and acquisition-related costs, Intel reported earnings of $1.11 a share, compared with $1.42 a share in the year-ago quarter. Revenue fell to $18.3 billion from $19.19 billion in the year-ago quarter – a massive loss for the company.
And this earnings report revealed a critical thing to us as investors. While technology might be a booming industry, thanks to the pandemic, we must choose our investments wisely. And I think that’s a good lesson to remember as the market continues to swing.