Ten for Ten!

Stocks on Wall Street eked out gains on Thursday, supported by energy stocks and Trump’s promise to the chief executives of large U.S. companies to bring back home millions of lost jobs. In the meeting with some 20 odd CEOs, Trump said that he plans on bringing back jobs in the millions, without specifying a precise program to combat the decades-long trend of disappearing factory jobs.

Trump is expected to present a series of proposals that have the ability to help out American firms, from tax reform and slashing regulation to boosting infrastructure spending, all key election platforms. These very promises helped push stocks to new highs, the S&P 500 having recorded gains of over 10% since the elections.

Investors, that notwithstanding, are looking for greater clarity regarding these proposals, which has relegated the S&P 500 to a narrow trading range. The index has not recorded movement of over 1% in either direction since December 7th.

In summary for the day, the Dow Jones recorded gains of 0.17%. The S&P 500 tacked on 0.04%, the NASDAQ slipping 0.43%.

Yesterday, the Dow succeeded in recording its 10th straight day of historic highs, its longest winning streak since 1987.

Energy stocks (XLE) recording gains of 0.5%, making the sector the best-performing on the S&P 500 on the background of a sharp rise in crude prices. In contrast, retail stocks (XRT) closed sharply off by 1% with strong losses at the end of the trading day.

The NASDAQ recorded its sharpest losses of the month on the heels of a 9.3% plunge in NVIDIA (NVDA). The brokerage firm, BMO, slashed its rating on the stock to “underperform,” lowering its share price target by $15 to $85.

L Brands (LB) was cut down to size by 15.8%, closing at $48.94 and recording the worst performance on the S&P 500, after the company reported weak sales in the women’s premium undergarment unit, Victoria Secrets, the largest business held by the company.

Boston Scientific (BSX) shed 2.7% after the company recalled its Lotus Valve line of heart valve devices due to a problem in the closing mechanism. The stock of its competitor, Edward Lifesciences (EW), soared 3.8% in response.

On the S&P 500, 65 stocks rose to new 52-week highs, 2 dipping to new yearly lows; on the NASDAQ, 132 stocks recorded new 52-week highs, 39 falling to new yearly lows.

About 7.11 billion shares changed hands on U.S. exchanges, above the 6.79 billion average over the last 20 trading days.

Friday: When considering that the Dow Jones has recorded historic highs on 10 of the last 10 trading days, we wouldn’t be surprised to see the bulls on Wall Street catching their breath a little in the near future. The market is on track for a rest period – if not a correction. The market is at extreme oversold levels. It goes without saying that investors will continue responding to the economic figures being released, and this coming week, we’re going to get a suite of figures, from Gross Domestic Product (GDP) to inflation and car sale figures. Additional focus will continue to be placed on Washington.

Investors are expecting slim pickings on today’s Economic Diary, with new home sales and the Consumer Confidence Index at 10:00 N.Y. time. Earnings reports before opening are expected from JCP, FL, COG, and TRVG.

Index Last Daily change R2 R1 PP S1 S2
DJX 20,810 0.17% Up          
SPX 2,364 0.04% Down 237.64 237.04 236.30 235.70 234.96
Nasdaq 5,836 (-0.43%) Down 131.28 130.64 130.07 129.43 128.86

 

Friday’s Hot Stocks: TRVG, COG, FL, ACIA, OLED, HPE, JWN, INTU

IPOs: None

Have a great trading day!

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Wednesday 10:00 Existing Home Sales 5.57M Medium
Wednesday 14:00 FOMC Minutes High
Thursday 8:30 Initial Claims 242K High
Thursday 9:00 FHFA Housing Price Index 0.4% Medium
Thursday 11:00 Crude Inventories Low
Friday 10:00 Michigan Sentiment – Final 95.8 High
Friday 10:00 New Home Sales 566K Medium

 

 

Earning Calendar

 

Symbol Company AM/PM Day
WAB Westinghouse Air Brake Technologies Corporation AM Tuesday
M Macy’s, Inc. AM Tuesday
EXPD Expeditors International of Washington, Inc. AM Tuesday
AAP Advance Auto Parts, Inc. AM Tuesday
GPC Genuine Parts Company AM Tuesday
HD The Home Depot, Inc. AM Tuesday
WMT Wal-Mart Stores, Inc. AM Tuesday
EXAS Exact Sciences Corporation AM Tuesday
ARIA ARIAD Pharmaceuticals, Inc. AM Tuesday
PWR Quanta Services, Inc. AM Tuesday
XPO XPO Logistics, Inc. PM Tuesday
TEX Terex Corporation PM Tuesday
FSLR First Solar, Inc. PM Tuesday
WLL Whiting Petroleum Corporation PM Tuesday
NEM Newmont Mining Corporation PM Tuesday
WCN Waste Connections, Inc. PM Tuesday
FE FirstEnergy Corp. PM Tuesday
NFX Newfield Exploration Company PM Tuesday
CPRT Copart, Inc. PM Tuesday
SIX Six Flags Entertainment Corporation AM Wednesday
LAMR Lamar Advertising Company AM Wednesday
GRMN Garmin Ltd. AM Wednesday
MBLY Mobileye N.V. AM Wednesday
NCLH Norwegian Cruise Line Holdings Ltd. AM Wednesday
DISH DISH Network Corporation AM Wednesday
HCN Welltower Inc. AM Wednesday
SO The Southern Company AM Wednesday
TJX The TJX Companies, Inc. AM Wednesday
EV Eaton Vance Corp. AM Wednesday
TOL Toll Brothers, Inc. AM Wednesday
HFC HollyFrontier Corporation AM Wednesday
SINA SINA Corporation PM Wednesday
WPX WPX Energy, Inc. PM Wednesday
RIG Transocean Ltd. PM Wednesday
SQ Square, Inc. PM Wednesday
NBR Nabors Industries Ltd. PM Wednesday
SLCA U.S. Silica Holdings, Inc. PM Wednesday
OAS Oasis Petroleum Inc. PM Wednesday
CLVS Clovis Oncology, Inc. PM Wednesday
CAKE The Cheesecake Factory Incorporated PM Wednesday
TSRA Tessera Holding Corporation PM Wednesday
SM SM Energy Company PM Wednesday
TSLA Tesla, Inc. PM Wednesday
HPQ HP Inc. PM Wednesday
WB Weibo Corporation PM Wednesday
CTRP Ctrip.com International, Ltd. PM Wednesday
LB L Brands, Inc. PM Wednesday
CLR Continental Resources, Inc. PM Wednesday
Y Alleghany Corporation PM Wednesday
RRC Range Resources Corporation PM Wednesday
KSS Kohl’s Corporation AM Thursday
APA Apache Corporation AM Thursday
W Wayfair Inc. AM Thursday
IDCC InterDigital, Inc. AM Thursday
ZBRA Zebra Technologies Corporation AM Thursday
HLF Herbalife Ltd. PM Thursday
ACIA Acacia Communications, Inc. PM Thursday
BIDU Baidu, Inc. PM Thursday
HPE Hewlett Packard Enterprise Company PM Thursday
INTU Intuit Inc. PM Thursday
BMRN BioMarin Pharmaceutical Inc. PM Thursday
GPS The Gap, Inc. PM Thursday
JWN Nordstrom, Inc. PM Thursday
SPLK Splunk Inc. PM Thursday
FL Foot Locker, Inc. AM Friday
COG Cabot Oil & Gas Corporation AM Friday


24.2.2017

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
MMC 73.67   FSLR UNP
VOYA 43   HPQ NVDA
MYL 42.7     NFX
DKS   48.12   WB
NVDA   99.11   LB
        SINA
        SLCA
        X
        CLVS
        URI

 

New York Strategy Swing

# Date Stock Long\

Short

Statues Data Close Profit\

Loss

1 1.2.2017 AKAO Long Close 16.2.2017 +11.29%
2 2.2.2017 DATA Long Close 6.2.2017 +13.09%
3 7.2.2017 GNC Short Close 9.2.2017 +3.26%
4 9.2.2017 PG Long Close 13.2.2017 -0.63%
5 9.2.2017 ATI Long Close 14.2.2017 +2.42%
6 13.2.2017 STX Long Close 16.2.2017 +1.26%
7 14.2.2017 CXW Long Close 23.2.2017 +4.53%
8 15.2.2017 ZEN Long Close 23.2.2017 +1.60%
9 21.2.2017 AA Long Close 23.2.2017 -1.17%
10 22.2.2017 SCOR Short Open   +1.03%
11 23.2.2017 NTAP Long Open   +0.34%
12            
13