The Last Hour of Trading

The large stock indexes recorded losses on Monday, retreating from their historic highs. The declines can be attributed to the industrial and tech sectors.

General Electric (GE) fell 6.3%, suffering its biggest losing day in 6 years, after analysts piled on and slashed their price target for the stock, noting the high chances the industrial giant might lower its dividend.

After stocks succeeded in holding their own around the zero line for most of the trading day, losses on the indexes accelerated in the last trading hour, the tech sector (XLK) weighing them down with losses of 0.4%.

Last week, the Dow Jones and the S&P 500 succeeded in closing at historic highs on each of the week’s 5 trading days. That came against the backdrop of hope that Donald Trump’s tax initiative is advancing in the right direction, the Senate giving the budget proposal their approval this past Friday.

On the one hand, the market’s stretched, i.e. at overbought levels. On the other, you can’t dispute that the market’s trending upwards. The question is, “Which securities will become pricey if tax reform doesn’t go through this year?” Alternatively, could the market go into freefall as the year nears the end?

Investors are also waiting for news about the personage who will replace the standing Fed Chair, Janet Yellen, next year. President Trump said yesterday that he’s “very very close” to naming a nominee.

Out of the 97 companies on the S&P 500 which have already reported their numbers for last quarter, 73.2% have outstripped analysts’ forecasts; the average over the last 4 quarters was 72%.

Daily Summary: The Dow Jones retreated 0.23%, the S&P 500 declining 0.4%, the NASDAQ shedding 0.64%.

The industrial sector (XLI) fell 0.8%, making it one of the biggest weights on the S&P 500. In addition to the sharp decline in GE, the sector was dragged lower by a precipitous fall of 10.4% in the stock of Arconic (ARNC), after the aluminium giant – which split off from Alcoa two years ago – missed its earnings forecast, and announced a new CEO.

Hasbro (HAS) toppled 8.6% after the toymaker’s holiday season forecast came out lower than expected, the collapse of the toy store chain, Toys R Us, likewise hurting sales. The stock of Hasbro’s competitor, Mattel (MAT) fell 3.2%.

On the S&P 500, 91 stocks rose to new 52-week highs, 6 dipping to new yearly lows; on the NASDAQ, 104    stocks recorded new 52-week highs, 41 falling to new yearly lows.

About 5.84 billion shares changed hands on U.S. exchanges, on par with the 5.83 billion average over the last 20 trading days.

Tuesday: As has happened quite a few times over the last few weeks, most of the economic figures – and weekly IPOs – have been concentrated in the second half of the week. In the meantime, investors are waiting for a flood of reports, with no fewer than 189 companies on the S&P 500 and 12 companies on the Dow Jones expected to report this week.

After closing, Whirlpool (WHR), the household electric appliance maker, fell 6.58% after disappointing with its earnings report, while also lowering its forecast.

Index Last Daily change
DJX 23,276 (0.22%) Down
SPX 2,565 (0.40%) Down
Nasdaq 6,587 (0.64%) Down

 

Tuesday’s Hot Stocks: WHR, EDU, MCD

IPOs: None

Have a great trading week!

 

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 9:45 PMI Composite Flash 54.8 Medium
Wednesday 8:30 Durable Goods Orders 1.0 % Medium
Wednesday 9:00 FHFA House Price Index 0.4 % Medium
Wednesday 10:00 New Home Sales 555 K Medium
Wednesday 10:30 Oil Inventories Low
Thursday 8:30 Jobless Claims 235K Medium
Thursday 10:00 Pending Home Sales Index 0.5 % Medium
Friday 8:30 GDP 2.5 % High
Friday 10:00 Consumer Sentiment 101.1 Medium

 

 

Earning Calendar

 

Symbol Company AM/PM Day
ARNC Arconic Inc. AM Monday
HAL Halliburton Company AM Monday
HAS Hasbro, Inc. AM Monday
KMB Kimberly-Clark Corporation AM Monday
STT State Street Corporation AM Monday
WHR Whirlpool Corporation PM Monday
CAT Caterpillar Inc. AM Tuesday
EDU New Oriental Education & Technology Group Inc. AM Tuesday
GLW Corning Incorporated AM Tuesday
GM General Motors Company AM Tuesday
LLY Eli Lilly and Company AM Tuesday
LMT Lockheed Martin Corporation AM Tuesday
MCD McDonald’s Corporation AM Tuesday
MMM 3M Company AM Tuesday
UTX United Technologies Corporation AM Tuesday
YNDX Yandex N.V. AM Tuesday
AMD Advanced Micro Devices, Inc. PM Tuesday
COF Capital One Financial Corporation PM Tuesday
ESRX Express Scripts Holding Company PM Tuesday
EW Edwards Lifesciences Corporation PM Tuesday
ILMN Illumina, Inc. PM Tuesday
T AT&T Inc. PM Tuesday
TXN Texas Instruments Incorporated PM Tuesday
BA The Boeing Company AM Wednesday
BAX Baxter International Inc. AM Wednesday
DPS Dr Pepper Snapple Group, Inc. AM Wednesday
GD General Dynamics Corporation AM Wednesday
HES Hess Corporation AM Wednesday
IP International Paper Company AM Wednesday
IR Ingersoll-Rand Plc AM Wednesday
KO The Coca-Cola Company AM Wednesday
TMO Thermo Fisher Scientific Inc. AM Wednesday
V Visa Inc. AM Wednesday
WBA Walgreens Boots Alliance, Inc. AM Wednesday
WYN Wyndham Worldwide Corporation AM Wednesday
AFL Aflac Incorporated PM Wednesday
AMGN Amgen Inc. PM Wednesday
CTXS Citrix Systems, Inc. PM Wednesday
DLR Digital Realty Trust, Inc. PM Wednesday
LVS Las Vegas Sands Corp. PM Wednesday
NXPI NXP Semiconductors N.V. PM Wednesday
ORLY O’Reilly Automotive, Inc. PM Wednesday
VRTX Vertex Pharmaceuticals Incorporated PM Wednesday
AAL American Airlines Group Inc. AM Thursday
BMY Bristol-Myers Squibb Company AM Thursday
CELG Celgene Corporation AM Thursday
CHTR Charter Communications, Inc. AM Thursday
CMCSA Comcast Corporation AM Thursday
CME CME Group Inc. AM Thursday
COP ConocoPhillips AM Thursday
HSY The Hershey Company AM Thursday
MCK McKesson Corporation AM Thursday
MO Altria Group, Inc. AM Thursday
MPC Marathon Petroleum Corporation AM Thursday
TWTR Twitter, Inc. AM Thursday
UNP Union Pacific Corporation AM Thursday
UPS United Parcel Service, Inc. AM Thursday
VLO Valero Energy Corporation AM Thursday
AMZN Amazon.com, Inc. PM Thursday
BIDU Baidu, Inc. PM Thursday
BMRN BioMarin Pharmaceutical Inc. PM Thursday
CERN Cerner Corporation PM Thursday
GILD Gilead Sciences, Inc. PM Thursday
GOOGL Alphabet Inc. PM Thursday
INTC Intel Corporation PM Thursday
KLAC KLA-Tencor Corporation PM Thursday
MSFT Microsoft Corporation PM Thursday
NOV National Oilwell Varco, Inc. PM Thursday
VRSN VeriSign, Inc. PM Thursday
WDC Western Digital Corporation PM Thursday
ABBV AbbVie Inc. AM Friday
AON Aon plc AM Friday
CL Colgate-Palmolive Company AM Friday
COG Cabot Oil & Gas Corporation AM Friday
CVX Chevron Corporation AM Friday
LYB LyondellBasell Industries N.V. AM Friday
MRK Merck & Co., Inc. AM Friday
PSX Phillips 66 AM Friday
VTR Ventas, Inc. AM Friday
XOM Exxon Mobil Corporation AM Friday

 

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
NKTR 25.02 LITE HAS
JUNO 47.03   ARNC
PAYX 64.75   GE
LITE 60.20    
MOMO 31    
TEVA 14.30    
TRGP 42.50    

  

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%
 

 

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

 No.1 –  JWN  

Company Name Nordstrom
Entry Point 41.70
Stop Area 42.60
1st Target 41.05
Swing Target 39.63
Avg. Volume 2.40M
Sector Services | Apparel Stores
Earning Date 9 Nov
Risk Rate Normal
Risk\Reward Ratio 2.30:1

 

No.2 – CVS   

Company Name CVS Health Corporation
Entry Point 75.79
Stop Area 76.55
1st Target 75.15
Swing Target 72.12
Avg. Volume 5.61M
Sector Healthcare | Health Care Plans
Earning Date 6 Nov
Risk Rate Normal
Risk\Reward Ratio 4.83:1

 

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