Will Senate Gut House’s Tax Cut?

Stocks on Wall Street fell yesterday in the face of pressure from losses in Microsoft (MSFT) and other tech stocks. Another driver behind the day’s losses was investors’ response to the Republican controlled Senate’s tax plan, which called for pushing off the cuts.

The S&P has soared 21% since Donald Trump took the Oval Office; the rally was sparked by promises that we’d see a corporate tax cut, along with other business-friendly steps.

Senate Republicans unveiled their tax reform which was recognizably different from the House of Representative version as far as corporations and individual tax rates go. The Senate proposal calls for pushing off the corporate tax cut to 20% by a year, while also offering firms tax deductions as opposed to an overarching corporate tax cut.

Earlier in yesterday’s trading, the lack of confidence about the future of the corporate tax cut sent the S&P 500 sliding as much as 1%. The decline accentuated the extent to which Wall Street was banking on the cut. At the same time, the sell-off was short-lived, stocks succeeding in recovering and recouping most of their losses.

Daily Summary: The Dow Jones fell 0.43%, the S&P 500 slipping 0.38%. The NASDAQ shed 0.58%.

The S&P 500 is traded at a forward earnings multiplier of 18, pricey given the 14.3 average over the last 10 years. The cut in the corporate tax rate was expected to significantly boost companies’ profitability, making their stocks less expensive.

A year has passed since the elections. The S&P 500 has risen 21% in the hopes of Trump’s agenda bearing fruit. With that said, despite Trump’s efforts to realize his goals, his administration is yet to tick off any significant achievement. If that doesn’t change, stocks are likely to halt and even see a major price correction, that is until things start moving in the right direction for Trump & Co.

One of the stocks that stood out in yesterday’s trading was Roku (ROKU), which skyrocketed 55% after the television streaming company substantially outstripped its forecasts.

The T.V. giant, DISH (DISH), jumped 3.22% after reporting that it had added new subscribers to its U.S. satellite TV service in Q3, while also succeeding in lowering the pace of client attrition.

About 7.4 billion shares changed hands on U.S. exchanges, above the 6.6 billion average over the last 20 trading days.

Index Last Daily change
DJX 23,462 (0.43%) Down
SPX 2,585 (0.38%) Down
Nasdaq 6,750 (0.58%) Down

Friday’s Hot Stocks: NVDA, JWN, HTZ, CAR, RDFN, LBTYK


Have a great trading day!


Economic Calendar


DAY TIME (EST) Event Forecast Impact
Tuesday 6:00 NFIB Small Business Optimism Index 105.0 Medium
Tuesday 10:00 JOLTS 6.082 M Medium
Wednesday 10:30 Oil Inventories Low
Thursday 8:30 Jobless Claims 232 K High
Thursday 10:00 Wholesale Trade 0.3 % Medium
Friday 10:00 Consumer Sentiment 100.0  High


Earning Calendar


Symbol Company AM/PM Day
CAH Cardinal Health, Inc. AM Monday
CVS CVS Health Corporation AM Monday
MYL Mylan N.V. AM Monday
MCHP Microchip Technology Incorporated PM Monday
PCLN The Priceline Group Inc. PM Monday
SWKS Skyworks Solutions, Inc. PM Monday
COH Coach, Inc. AM Tuesday
EXPD Expeditors International of Washington, Inc. AM Tuesday
HCN Welltower Inc. AM Tuesday
RCL Royal Caribbean Cruises Ltd. AM Tuesday
WB Weibo Corporation AM Tuesday
WLK Westlake Chemical Corporation AM Tuesday
AGU Agrium Inc. PM Tuesday
CLR Continental Resources, Inc. PM Tuesday
DVA DaVita Inc. PM Tuesday
MAR Marriott International, Inc. PM Tuesday
SNAP Snap Inc. PM Tuesday
TTWO Take-Two Interactive Software, Inc. PM Tuesday
HUM Humana Inc. AM Wednesday
MGM MGM Resorts International AM Wednesday
FOXA Twenty-First Century Fox, Inc. PM Wednesday
HOLX Hologic, Inc. PM Wednesday
MNST Monster Beverage Corporation PM Wednesday
SQ Square, Inc. PM Wednesday
COTY Coty Inc. AM Thursday
DISH DISH Network Corporation AM Thursday
JCI Johnson Controls International plc AM Thursday
NCLH Norwegian Cruise Line Holdings Ltd. AM Thursday
PRGO Perrigo Company plc AM Thursday
DIS The Walt Disney Company PM Thursday
LBTYK Liberty Global plc PM Thursday
NVDA NVIDIA Corporation PM Thursday


Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
PSX 95 M  
ROKU 29.80 FOX  
BAX 65.70 SBGI  


New York Strategy Swing

# Date Stock Long\


Statues Data Close Profit\


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%


Today’s Picks – Swing “New-York Strategy

No.1 –    JUNO

Company Name Juno Therapeutics, 
Entry Point 55
Stop Area 52.95
1st Target 55.90
Swing Target 61.59
Avg. Volume 2.95M
Sector Healthcare | Biotechnology
Earning Date
Risk Rate High
Risk\Reward Ratio 3.21:1