November 17, 2022 - The RightLine Report 

 
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                      NOTES FROM THE EDITOR
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Guess what? Trading doesn't have to be complicated. Learning to make money in stocks isn't all that difficult, and thankfully you don't have to be a rocket scientist to be a successful trader. In fact, folks of average intelligence tend to do better trading stocks than the genius types.

All good trading strategies share the same foundation - Risk Control. You probably already know this. Now ask yourself this question ... Do you always use a risk calculator to determine your position size before you enter a trade?

And how about trade execution? Have you ever ordered the wrong number of shares? Or bought the wrong stock? Have you ever gone short when you meant to go long?

Believe me, you're not alone. After working with hundreds of traders I've come to the conclusion that brains and self-control are not the same thing.

In the real world, a high percentage of "smart" people are extremely undisciplined. They have a hard time following a simple routine, and will do anything to avoid tasks they consider to be monotonous or tedious.

That's too bad, for trading stocks requires a disciplined touch. Just like sports, this game is repetitive. Successful traders do the same things over and over. We're not talking about actions that are extremely hard to do, like a hundred pushups every thirty minutes. Trading is made up of relatively simple tasks, yet the ability to consistently implement each aspect of an effective method makes all the difference in the world.

For example, trade execution is a lot like filling out a personal information form online. Have you ever had to retype simple data - like a credit card or social security card number more than twice to get it right? Reaching the point where you can get it right the first time takes the kind of disciplined practice that makes for a good trader.

This type of self-discipline isn't hard and it certainly isn't complicated. However, I'm not sure if anyone can really teach another person how to do it. Granted, it does help if someone reminds us to "pay attention" from time to time. I suppose that's what I'm doing right now - though I have to admit that it's as good for me to hear it as it is for you.

Trade well,

Thomas Sutton, Editor 

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                           "QUICK LIST"
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Stock     11/18     11/18      Buy      Short   Trailing Stops     Gain 
Symbol    Price      +/-      Entry     Entry   Initial/Tighten   Amount 
------  --------  --------  --------  --------  ---------------  --------

TRIP      20.26     -0.08     20.77     19.24        1.53/0.77      1.74
FATE      20.11     -0.50     20.68     19.06        1.62/0.81      2.66
ADTN      20.42      0.01      20.7                  1.42/0.71      1.48


The "Quick List" provides a brief summary of each stock write-up and should be taken in the context of the related write-up presented in the "Stocks Covered in This Issue" section of this Report.

Be sure to read "How To Use The RightLine Quick List" at https://prorightline.com/index.php/rightline-report-quick-list/. In addition,always use the RightLine Risk Calculator before entering any position. For access to the Risk Calculator, go to https://prorightline.com/index.php/risk-calculator/.

To learn more about controlling risk go to the RightLine Risk Control System at https://prorightline.com/index.php/rightline-risk-control-system/

For a glossary of terms unique to The RightLine Report go to: https://prorightline.com/index.php/glossary/

Questions? Send us an email using our contact form at: https://prorightline.com/index.php/contact-us/ 
 
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                           MARKET SUMMARY
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US stocks were lower on Thursday following a cautious session as traders responded to comments from Fed Bank officials who indicated that their rate-hike campaign to slow down inflation is not sufficiently restrictive. On the economic front, building permits, housing starts and unemplyment claims declined, while manufacturing activity in the Philadelphia region fell hard. Equities offered mixed earnings results, as Cisco Systems (CSCO $47) topped projections, but NVIDIA (NVDA $157) was well short of estimates. The USD/dollar and treasury yields moved higher, oil prices and gold closed lower.


                       Nov 16, 2022           Nov 17, 2022   
                  --------------------   --------------------
Dow                 33,553.83   -39.09     33,546.32    -7.51
Nasdaq              11,183.66  -174.75     11,144.96   -38.70
S&P 500              3,958.79   -32.94      3,946.56   -12.23

NYSE Volume                      4.19B                  4.06B
NYSE Advancers                   1,084                  1,108
NYSE Decliners                   2,083                  2,044

Nasdaq Volume                    4.61B                  4.37B
Nasdaq Advancers                 1,429                  1,765
Nasdaq Decliners                 3,173                  2,880

                                 New Highs/Lows

                   11/10  11/11  11/14  11/15  11/16  11/17
                 --------------------------------------------
NYSE New Highs        75     81     54     65     53     34
NYSE New Lows         50     35     24     28     55     69
Nasdaq New Highs     139    110     83    107     68     63
Nasdaq New Lows      212    152    113    124    166    198

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                              TRADER'S TIP:  
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TRADER'S TIP: "Oh Well"

Taking a planned loss is a calculated part of doing business. Don't let it bother you - just shrug it off and go forward. Not taking a loss as planned can cause damage to both your trading account and your morale. Remember that many traders are incredibly successful with less than a 50% winning trade ratio. It's not that you have a loser; it's how you manage the trade that is important. Another good reason to plan your trade and stick with it! 
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                         THE TECHNICAL ANALYST
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This section contains important technical data for the three major market averages -- the S&P 500, the Nasdaq Comp Index, and the Dow Industrial Average.

For guidance on how to use this information, go to: https://prorightline.com/index.php/technical-analyst-section-rightline-report/ 
S&P 500 - 3946.56 November 17, 2022

52-Week High: 4818.62
52-Week Low: 3491.58
Daily Trend: DOWN
Weekly trend: UP
Weekly Pivot Levels
Resistance 3: 2889.72
Resistance 2: 2767.42
Resistance 1: 1383.71
Pivot: 2645.12
Support 1: 1261.41
Support 2: 2522.82
Support 3: 2400.52
https://www.prorightline.com/rlch/111822SPX.jpg

NASDAQ Composite - 11144.96 November 17, 2022

52-Week High: 16212.23
52-Week Low: 10088.83
Daily Trend: UP
Weekly trend: DOWN
Weekly Pivot Levels
Resistance 3: 8472.43
Resistance 2: 7986.02
Resistance 1: 3993.01
Pivot: 7499.61
Support 1: 3506.60
Support 2: 7013.19
Support 3: 6526.78


Dow Industrials - 33546.32 November 17, 2022

52-Week High: 36952.65
52-Week Low: 28660.94
Daily Trend: DOWN
Weekly trend: UP
Weekly Pivot Levels
Resistance 3: 23903.55
Resistance 2: 23156.24
Resistance 1: 11578.12
Pivot: 22408.93
Support 1: 10830.81
Support 2: 21661.62
Support 3: 20914.31


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                             MARKET CALENDAR
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--ECONOMIC REPORTS AND EVENTS (all times are Eastern): 
Monday, November 21, 2022:
21-Nov  8:30 am   Chicago Fed national activity index

Tuesday, November 22, 2022:
22-Nov          None scheduled

Wednesday, November 23, 2022:
23-Nov  8:30 am   Durable goods orders
23-Nov  8:30 am   Core capital equipment orders
23-Nov  8:30 am   Initial jobless claims
23-Nov  8:30 am   Continuing jobless claims
23-Nov  9:45 am   
23-Nov  9:45 am   
23-Nov  10 am   UMich consumer sentiment index (final)
23-Nov  10 am   UMich 5-year inflation expectations (final)
23-Nov  10 am   New home sales (SAAR)
23-Nov   2 pm   FOMC minutes

Thursday, November 24, 2022:
24-Nov          Thanksgiving Day holiday. None scheduled.

Friday, November 25, 2022:
25-Nov          None scheduled

For a chart of typical Up or Down market reactions to specific major US economic reports, go to "Economic Indicator Effects" at this link: https://prorightline.com/index.php/economic-indicator-effects/ 
 
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                              TRADER'S TIP: 
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TRADER'S TIP: "Accredited Investor"

This is the SEC term for a person or entity meeting any of the criteria listed below. Certain restricted offerings, hedge funds, limited partnerships, and angel investor networks are open only to accredited investors.

1) Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer or general partner of a general partner of that issuer.

2) Any natural person whose individual net worth, or joint net worth with that person's spouse, at the time of his purchase exceeds $1,000,000.

3) Any natural person who had individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.

4) Any trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase of the securities is directed by a person who has such knowledge and experience in financial and business matters that he is capable of evaluating the merits and risks of the prospective investment.

5) Any organization that was not formed for the purpose of acquiring the securities being sold, with total assets in excess of $5,000,000.

6) Any entity in which all of the equity owners are Accredited Investors. 

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                      STOCKS COVERED IN THIS ISSUE    
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CONSUMER CYCLICAL SECTOR

Tripadvisor, Inc. (TRIP: Consumer Cyclical/Travel Services) - SQUEEZE PLAY. Trader indecision has put TRIP squarely in the center of a Bull versus Bear standoff. This tight spot should soon give way to a clear winner in the short-term, and we want to be in position for the move. To do that we've set a BUY entry at 20.77 and a SELL short entry at 19.24. Now it's up to TRIP to show us which entry will be filled. Once the trade is underway place a 1.53 trailing stop, which can be tightened to 0.77 after you achieve a 1.74 profit. TRIP closed on Friday at 20.26. Earnings Report Date: Feb 14, 2023. Beta: 1.27. Market-Cap: 2.848B. Optionable.

HEALTHCARE SECTOR

Fate Therapeutics, Inc. (FATE: Healthcare/Biotechnology) - SQUEEZE PLAY. One interesting trait of price volatility is that it cycles back and forth through periods of expansion and contraction. Stocks that have recently seen their daily price range shift from an average or wide range to an extremely contracted state are ideal candidates for expansive price moves. In many cases the next move is relatively fast and covers a sizable amount of territory. To take advantage of these trades we use both a BUY and a SELL entry. This allows us to enter in whichever direction the breakout takes. In FATE's case we will enter a BUY should it reach the 20.68 level, or a SELL short trade if it drops to 19.06. As usual a trailing stop is essential, 1.62 which should be tightened to 0.81 on a 2.66 gain. FATE closed Friday at 20.11. Earnings Report Date: N/A. Beta: 1.57. Market-Cap: 1.954B. Optionable.

TECHNOLOGY SECTOR

ADTRAN Holdings, Inc. (ADTN: Technology/Communication Equipment) - BULLISH BOUNCE. Looking a bit frayed after sliding downhill in recent sessions, on Friday ADTN seemed intent on initiating a rebound. With moving average support nearby, ADTN is at a logical place for Bulls to regroup and extend the familiar uptrend that shareholders have become accustomed to. On continued buying, plan on taking long entries with a BUY at 20.7. Manage risk with a 1.42 stop. Tighten your stop to 0.71 when you have a 1.48 profit. ADTN ended the day at 20.42. Earnings Report Date: Jan 31, 2023. Beta: 1.40. Market-Cap: 1.586B. Optionable.


IMPORTANT: Before entering any recommended positions, always use the RightLine "Risk Control System" to determine the level of acceptable risk and the maximum number of shares to buy.
Link: https://prorightline.com/index.php/rightline-risk-control-system/

Use "Gap Adjusted Entries" to reset the Entry Price for stocks that gap beyond recommended entry levels.
Link: https://prorightline.com/index.php/gap-adjusted-entries-increase-profits/ 

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                           STOCK SPLIT SUMMARY
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Below are the stocks that have announced splits and have recently executed or will execute soon. There is generally a return to normal price behavior in the weeks following a split announcement in what we call a "Dormancy Phase." As the stock nears its split execution date it often moves into the "Pre-Split Run" stage where quick and sometimes dramatic gains can occur. 
                             Announce     Eff.       Split
Company Name     (Symbol)      Date       Date       Ratio   Options  
---------------- -------     --------    -------     ------  -------   
Copart            CPRT       11/4/2022 11/4/2022     2-for-1   Yes

For a closer look at the different stages of a Stock Split go to: https://prorightline.com/index.php/trading-stock-splits-stages/ 
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Best of luck and have a Great Week!
 
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