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.
| Index | Last | Daily change | |
| DJX | 23,430 | 0.31% | Up |
| SPX | 2,582 | 0.13% | Up |
| Nasdaq | 6,791 | 0.12% | Up |
Tuesday’s Hot Stocks: PANW, A, URBN, INTU, DLTR, SYMC
IPOs: None
Have a great trading day!
| Economic Calendar
| ||||
| DAY | TIME (EST) | Event | Forecast | Impact |
| Tuesday | 10:00 | Existing Home Sales | 5.440 M | Medium |
| Tuesday | 18:00 | Janet Yellen Speaks | – | Medium |
| Wednesday | 8:30 | Durable Goods Orders | 0.4 % | Medium |
| Wednesday | 8:30 | Jobless Claims | 240 K | Medium |
| Wednesday | 10:00 | Consumer Sentiment | 26.0 | High |
| Wednesday | 10:30 | Oil Inventories | – | Low |
| Thursday | – | Markets Closed | Thanks Giving Day | |
| Friday | 9:45 | PMI Composite Flash | 55.4 | Medium |
| Friday | 13:00 | Early Close | ||
| Earning Calendar
| |||
| Symbol | Company | AM/PM | Day |
| ZTO | ZTO Express (Cayman) Inc. | PM | Monday |
| PANW | Palo Alto Networks, Inc. | PM | Monday |
| A | Agilent Technologies, Inc. | PM | Monday |
| INTU | Intuit Inc. | PM | Monday |
| NOAH | Noah Holdings Limited | PM | Monday |
| BRCD | Brocade Communications Systems, Inc. | PM | Monday |
| URBN | Urban Outfitters, Inc. | PM | Monday |
| CBRL | Cracker Barrel Old Country Store, Inc. | AM | Tuesday |
| SIG | Signet Jewelers Limited | AM | Tuesday |
| DY | Dycom Industries, Inc. | AM | Tuesday |
| EV | Eaton Vance Corp. | AM | Tuesday |
| ADI | Analog Devices, Inc. | AM | Tuesday |
| LOW | Lowe’s Companies, Inc. | AM | Tuesday |
| MDT | Medtronic plc | AM | Tuesday |
| DLTR | Dollar Tree, Inc. | AM | Tuesday |
| CPB | Campbell Soup Company | AM | Tuesday |
| HRL | Hormel Foods Corporation | AM | Tuesday |
| HPE | Hewlett Packard Enterprise Company | PM | Tuesday |
| CRM | Salesforce.com, inc. | PM | Tuesday |
| HPQ | HP Inc. | PM | Tuesday |
| CPRT | Copart, Inc. | PM | Tuesday |
| DE | Deere & Company | AM | Wednesday |
Today’s Picks – Day Trading!
| Symbol | Breakout | Breakdown | Momentum | Momentum |
| CREE | 37.43 | YY | ||
| VRX | 15.74 | ANF | ||
| BIVV | 50.50 | AMBA | ||
| ACM | ||||
| NTAP | ||||
| ADI |
New York Strategy Swing
| # | Date | Stock | Long\ Short | Statues | Data Close | Profit\ Loss |
| 1 | 1.9.2017 | VNTV | Long | Close | 14.9.2017 | +1.35% |
| 2 | 12.9.2017 | CPB | Short | Close | 15.9.2017 | -1.10% |
| 3 | 18.9.2017 | INSM | Long | Close | 22.9.2017 | +1.92% |
| 4 | 25.9.2017 | GPS | Long | Close | 2.10.2017 | +1.69% |
| 5 | 27.9.2017 | SQM | Long | Close | 29.9.2017 | +1.69% |
| 6 | 2.10.2017 | ATI | Long | Close | 6.10.2017 | +3.12% |
| 7 | 2.10.2017 | TROX | Long | Close | 18.10.2017 | +13.93% |
| 8 | 3.10.2017 | ABT | Long | Close | 11.10.2017 | +1.60% |
| 9 | 9.10.2017 | ZGNX | Long | Close | 12.10.2017 | +3.26% |
| 10 | 16.10.2017 | INSM | Long | Close | 19.10.2017 | -2.82% |
| 11 | 24.10.2017 | CVS | Short | Close | 1.11.2017 | +4.77 % |
| 12 | 30.10.2017 | SKX | Long | Close | 31.10.2017 | -1.42% |
| 13 | 31.10.2017 | STX | Long | Close | 2.11.2017 | -0.15% |
| 14 | 3.11.2017 | AKAM | Long | Close | 8.11.2017 | +1.37% |
| 15 | 10.11.2017 | JUNO | Long | Close | 14.11.2017 | +1.26% |
| 16 | 16.11.2017 | FLR | Long | +1.86% |
Today’s Picks – Swing “New-York Strategy”
No.1 – TEVA
| Company Name | Teva Pharmaceutical Industries |
| Entry Point | 12.97 |
| Stop Area | 14.05 |
| 1st Target | 12.55 |
| Swing Target | 10.85 |
| Avg. Volume | 24.79M |
| Sector | Healthcare | Drug Manufacturers – Other |
| Earning Date | – |
| Risk Rate | Normal |
| Risk\Reward Ratio | 1.96:1 |
Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size