Picks of the Day December 19, 2017.

Festival on Wall Street

A festive atmosphere reigned on Wall Street, the market continuing to be a tour de force, firing on all cylinders. The momentum was driven by seasonality and optimism in advance of the passage of the tax bill. The Trump administration and the Republicans year-to-date had not succeeded in pushing through any significant legislation. The lowering of the corporate tax rate from the current threshold of 35% to 21% will be the Republican Party’s first main successful piece of legislation – something of course that’s making the market happy. The tax cut will enable companies to increase their net profit, raise stockholder dividends and increase the clip of their open market buybacks. The investing body that perceives valuations as no longer being too expensive is not insignificant.

The additional high recorded yesterday by the Dow was the 70th this year, making it the most new highs ever recorded by the index in a given calendar year. The Dow Jones is up over 25% year-to-date or 5,000 points!

The NASDAQ also surpassed a significant benchmark when trading above the 7,000 point level. The tax reform has persisted in setting the tone, the consensus on Wall Street predicting that it will be signed into law over the next few days. The vote in the House of Representatives is expected today, the Senate vote expected for tomorrow.  

Tuesday: The focal point on Wall Street will be the passage of the tax bill on Capitol Hill. Likewise, building starts will be released at 8:30 N.Y. time.

The companies reporting before opening today include: NAV, CCL, DRI.

Today’s Hot Stocks: WOR, ROKU, NAV, CCL, DRI

IPOs: None

Have a great trading day!
 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Monday10:00Housing Market Index70Medium
Tuesday8:30Housing Starts1.240 MMedium
Wednesday10:00Existing Home Sales5.520 MMedium
Wednesday10:30Oil InventoriesLow
Thursday8:30GDP3.3 %High
Thursday8:30Jobless Claims234 KMedium
Thursday9:00FHFA House Price Index0.4 %Medium
Thursday10:00Leading Indicators0.3%Medium
Friday8:30Durable Goods Orders2.0 %Medium
Friday8:30Personal Income and Outlays0.4 %Medium
Friday10:00New Home Sales650 KMedium
Friday10:00Consumer Sentiment97.0High
Friday8:30Empire State Mfg Survey-0.1Medium

 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
KBKB Financial Group Inc.AMMonday
DRIDarden Restaurants, Inc.AMTuesday
NAVNavistar International CorporationAMTuesday
WORWorthington Industries, Inc.AMTuesday
CCLCarnival CorporationAMTuesday
MUMicron Technology, Inc.PMTuesday
FDXFedEx CorporationPMTuesday
RHTRed Hat, Inc.PMTuesday
GISGeneral Mills, Inc.AMWednesday
MLHRHerman Miller, Inc.PMWednesday
BBBYBed Bath & Beyond Inc.PMWednesday
PAYXPaychex, Inc.AMThursday
KMXCarMax Inc.AMThursday
CAGConagra Brands, Inc.AMThursday
ACNAccenture plcAMThursday
NKENIKE, Inc.PMThursday
CTASCintas CorporationPMThursday

  

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
CROX13.04 ROKUEEFT
BSAC32.08 TWTR 
   LFIN 
   RIOT 
   NVDA 
   VMW 
   KLAC 
   BYD 
     
     
     
     

 

  

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

13.11.2017AKAMLongClose8.11.2017+1.37%
210.11.2017JUNOLongClose14.11.2017+1.26%
316.11.2017FLRLongClose25.11.2017+2.16%
46.12.2017SPLKLongClose8.12.2017+1.51%
511.12.2017NKTRLongOpen +2.09%
618.12.2017SYYLongOpen +0.46%