EB Daily Market Report - January 3, 2020

Dear Members:

Happy New Year!!!

First, a very quick note that there'll be no Daily Market Report today.  We're preparing for our first online financial conference in our history - Market Vision 2020 - and I simply don't have enough time to prepare a full-blown report.  I will say that the Middle East strike overnight had futures tumbling, but the market has handled the news quite well.  As I write this message, U.S. stocks are rebounding and the Dow Jones currently is down by only 160 points (futures were down more than 300 points earlier) and is more than 200 points off its intraday low.

We are issuing a new trade alert as reflected below on SBH.  Our only other trade alert is Visteon Corp (VC), which is lower by 1.49% today.  We'd like to see another close above its 20 day EMA to the upside.

New Trade Alert:

BUY:  Sally Beauty Holdings (SBH)

Enter at following prices:

1st entry:  17.46 (current price as of this email)

Remaining 4 entries (every 1% drop):  17.29, 17.12, 16.95, 16.78

TARGET:  20.31

CLOSING STOP:  16.60

REWARD TO RISK:  If all entries trigger, our average entry price will be 17.12.  Our target would yield a return of 3.19, while our closing stop of 16.60 would cost .52.  That results in a reward to risk of 6.1 to 1.0.

I'll include a chart in Monday's DMR.

Happy trading!

Tom