Thanksgiving Week off to Good Start!

Stocks opened the shortened trading week on Wall Street yesterday with gains, Verizon (VZ) rallying and pushing the communication sector up after its stock received an upgrade. Simultaneously, a large acquisition deal in the chip sector pushed large tech stocks higher.

In the absence of large earnings reports, and with little hope for significant economic figures this week, trading volumes were thin and they’re expected to become even thinner leading up to Thanksgiving Day, on Thursday (markets closed), and on Friday, when Wall Street closes early. All-in-all, yesterday’s volumes were the thinnest we’ve seen month-to-date.

Verizon (VZ) rallied 1.7% to the $46.20 level after analysts at Wells Fargo accentuated the stock’s low valuation, noting that it considers it attractive among the dividend paying stocks. The communication sector (IYZ) is down 17% on the year, stacked up against the gains of 15% on the S&P 500.

On the merger and acquisition (M&A) front, CAVM soared 10.8% after its competitor, Marvell (MRVL) announced that a deal had been sealed to acquire it for $6 billion. MRVL tacked on 6.4%. The deal sent waves of optimism coursing through the entire chip sector which recorded gains of 1.2%, reaching its highest level since the dot-com bubble.

Daily Summary: The Dow Jones rose 0.31%, the S&P 500 tacking on 0.13%. The NASDAQ climbed 0.12%.

On the S&P 500, 42 stocks rose to new 52-week highs, 3 dipping to new yearly lows; on the NASDAQ, 129     stocks recorded new 52-week highs, 28 falling to new yearly lows.

About 5.67 billion shares changed hands on U.S. exchanges, substantially beneath the average over the last 20 trading days.

IndexLastDaily change
DJX23,4300.31%Up
SPX2,5820.13%Up
Nasdaq6,7910.12%Up

 

Tuesday’s Hot Stocks: PANW, A, URBN, INTU, DLTR, SYMC

IPOs: None

Have a great trading day!

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday10:00Existing Home Sales5.440 MMedium
Tuesday18:00Janet Yellen SpeaksMedium
Wednesday8:30Durable Goods Orders0.4 %Medium
Wednesday8:30Jobless Claims240 KMedium
Wednesday10:00Consumer Sentiment26.0High
Wednesday10:30Oil InventoriesLow
ThursdayMarkets ClosedThanks Giving Day
Friday9:45PMI Composite Flash55.4Medium
Friday13:00Early Close

 

Earning Calendar

 

SymbolCompanyAM/PMDay
ZTOZTO Express (Cayman) Inc.PMMonday
PANWPalo Alto Networks, Inc.PMMonday
AAgilent Technologies, Inc.PMMonday
INTUIntuit Inc.PMMonday
NOAHNoah Holdings LimitedPMMonday
BRCDBrocade Communications Systems, Inc.PMMonday
URBNUrban Outfitters, Inc.PMMonday
CBRLCracker Barrel Old Country Store, Inc.AMTuesday
SIGSignet Jewelers LimitedAMTuesday
DYDycom Industries, Inc.AMTuesday
EVEaton Vance Corp.AMTuesday
ADIAnalog Devices, Inc.AMTuesday
LOWLowe’s Companies, Inc.AMTuesday
MDTMedtronic plcAMTuesday
DLTRDollar Tree, Inc.AMTuesday
CPBCampbell Soup CompanyAMTuesday
HRLHormel Foods CorporationAMTuesday
HPEHewlett Packard Enterprise CompanyPMTuesday
CRMSalesforce.com, inc.PMTuesday
HPQHP Inc.PMTuesday
CPRTCopart, Inc.PMTuesday
DEDeere & CompanyAMWednesday

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
CREE37.43YY 
VRX15.74ANF 
BIVV50.50AMBA 
 ACM 
 NTAP 
 ADI 

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

11.9.2017VNTVLongClose14.9.2017+1.35%
212.9.2017CPBShortClose15.9.2017-1.10%
318.9.2017INSMLongClose22.9.2017+1.92%
425.9.2017GPSLongClose2.10.2017+1.69%
527.9.2017SQMLongClose29.9.2017+1.69%
62.10.2017ATILongClose6.10.2017+3.12%
72.10.2017TROXLongClose18.10.2017+13.93%
83.10.2017ABTLongClose11.10.2017+1.60%
99.10.2017ZGNXLongClose12.10.2017+3.26%
1016.10.2017INSMLongClose19.10.2017-2.82%
1124.10.2017CVSShortClose1.11.2017+4.77 %
1230.10.2017SKXLongClose31.10.2017-1.42%
1331.10.2017STXLongClose2.11.2017-0.15%
143.11.2017AKAMLongClose8.11.2017+1.37%
1510.11.2017JUNOLongClose14.11.2017+1.26%
1616.11.2017FLRLong  +1.86%

 

Today’s Picks – Swing “New-York Strategy”

No.1 –   TEVA

Company NameTeva Pharmaceutical Industries
Entry Point12.97
Stop Area14.05
1st Target12.55
Swing Target10.85
Avg. Volume24.79M
SectorHealthcare | Drug Manufacturers – Other
Earning Date
Risk RateNormal
Risk\Reward Ratio1.96:1

Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size