Richard-James– James F. Taulman, former Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system.


8:30 AM – MORNING MARKET & WATCH LISTS UPDATE

NOTE: Today’s watch list can be found here.

U.S. stock futures were sharply lower this morning as the markets prepared to open after the 3-day Memorial Day weekend.


QUOTE OF THE DAY:

“Have patience. All things are difficult before they become easy.”
– Saadi


Last week, the Dow gained +0.2%, the S&P 500 logged a +0.3% advance, while the Nasdaq closed out with a +1.1% return led by outperformance in the internet and the technology sector.

The U.S. benchmarks are approaching the unofficial start to summer amid characteristically range-bound, and slightly sluggish, price action.

However, the rather orderly May backdrop (see chart) registers as bullish, versus the prior three months, punctuated by the S&P 500’s flag pattern pinned to the steep early-month rally.

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The S&P 500 index about -5.3% from its record close that was hit Jan. 26th, while the Nasdaq stands about a full -2% shy of its all-time high notched March 12th. Meanwhile, while the Dow is about -7% from its late-January apex.

This week we have a string of economic reports, including those on trade and an updated reading of first-quarter gross domestic product which are likely to be key guideposts for mainstream investors, ahead of Friday’s important jobs report for May that caps the week and kicks of June trade.

Last week we had one buyable breakout as shares of FIVN traded above their posted TRIGGER PRICE as the volume made the TRIGGER VOLUME.

Chart courtesy of stockcharts.com – Click chart to enlarge.

After running my routine stock screens over the weekend, I did not find any new stocks to add to our watch list. I will screen for stocks again each evening.

We still have a total of 16 stocks which we will be watching for a buyable breakout here.

One stock in particular is LOPE, which is very near its TRIGGER PRICE.

Chart courtesy of stockcharts.com – Click chart to enlarge.

No one has to wait for me to issue any type of alert. Any gains above the stock’s TRIGGER PRICE while the day’s volume is at least on pace to make the TRIGGER VOLUME would have this set up confirming a BUY signal up to the MAX BUY PRICE by default.

Keep in mind that when a stock breaks out (become potentially buyable) – there are other factors to consider.

  1. Volume on the breakout. A stock that is breaking out through resistance, with an increase in volume of +50% above the stock’s average volume (50 DAV), is showing more conviction and more demand.
  2. Earnings. Many stocks from our watch list will break out during earnings season. Earnings breakouts can be more rewarding, however, these trades carry much more risk then traditional (non-news) breakouts. One needs to also consider – the strenght/weakness of the fundamental news that was just released along with the foward-looking guidance the company gave, investors response to the conference call, etc. For anyone who is not familiar with – buying earnings breakouts – I suggest that they sit through a few seasons to study, paper trade, and show some profits – before applying actual capital.

Current Portfolio Members can access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here.

Missed any of these morning reports? You can find all previous reports here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you. _________________________________________________

About the Founder: Richard-JamesJames F. Taulman – James served as Editor-in-Chief of the first independently licensed website that offered stock reports and services based on the CAN SLIM® investment system. He has developed a knack for being able to quickly and accurately analyze high-ranked stocks based on this winning investment strategy. Over the years, Mr. Taulman has enjoyed assisting individuals from professional money managers to private investors with their needs in relation to implementing this investment approach on a daily basis in the current marketplace. Each Sunday you could hear him deliver his weekly market report as part of the “Your Money Matters” radio program on ABC and CBS radio networks. _________________________________________________ Disclaimer: James Taulman is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The independent contractors and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company’s website, or in its publications, are made as of the date stated and are subject to change without notice. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company’s products (collectively, the “Information”) are provided for informational and educational purposes only and should not be construed as investment advice.