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.

IndexLastDaily changeR2R1PPS1S2
DJX20,8100.17%Up     
SPX2,3640.04%Down237.64237.04236.30235.70234.96
Nasdaq5,836(-0.43%)Down131.28130.64130.07129.43128.86

 

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

IPOs: None

Have a great trading day!

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Wednesday10:00Existing Home Sales5.57MMedium
Wednesday14:00FOMC MinutesHigh
Thursday8:30Initial Claims242KHigh
Thursday9:00FHFA Housing Price Index0.4%Medium
Thursday11:00Crude InventoriesLow
Friday10:00Michigan Sentiment – Final95.8High
Friday10:00New Home Sales566KMedium

 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
WABWestinghouse Air Brake Technologies CorporationAMTuesday
MMacy’s, Inc.AMTuesday
EXPDExpeditors International of Washington, Inc.AMTuesday
AAPAdvance Auto Parts, Inc.AMTuesday
GPCGenuine Parts CompanyAMTuesday
HDThe Home Depot, Inc.AMTuesday
WMTWal-Mart Stores, Inc.AMTuesday
EXASExact Sciences CorporationAMTuesday
ARIAARIAD Pharmaceuticals, Inc.AMTuesday
PWRQuanta Services, Inc.AMTuesday
XPOXPO Logistics, Inc.PMTuesday
TEXTerex CorporationPMTuesday
FSLRFirst Solar, Inc.PMTuesday
WLLWhiting Petroleum CorporationPMTuesday
NEMNewmont Mining CorporationPMTuesday
WCNWaste Connections, Inc.PMTuesday
FEFirstEnergy Corp.PMTuesday
NFXNewfield Exploration CompanyPMTuesday
CPRTCopart, Inc.PMTuesday
SIXSix Flags Entertainment CorporationAMWednesday
LAMRLamar Advertising CompanyAMWednesday
GRMNGarmin Ltd.AMWednesday
MBLYMobileye N.V.AMWednesday
NCLHNorwegian Cruise Line Holdings Ltd.AMWednesday
DISHDISH Network CorporationAMWednesday
HCNWelltower Inc.AMWednesday
SOThe Southern CompanyAMWednesday
TJXThe TJX Companies, Inc.AMWednesday
EVEaton Vance Corp.AMWednesday
TOLToll Brothers, Inc.AMWednesday
HFCHollyFrontier CorporationAMWednesday
SINASINA CorporationPMWednesday
WPXWPX Energy, Inc.PMWednesday
RIGTransocean Ltd.PMWednesday
SQSquare, Inc.PMWednesday
NBRNabors Industries Ltd.PMWednesday
SLCAU.S. Silica Holdings, Inc.PMWednesday
OASOasis Petroleum Inc.PMWednesday
CLVSClovis Oncology, Inc.PMWednesday
CAKEThe Cheesecake Factory IncorporatedPMWednesday
TSRATessera Holding CorporationPMWednesday
SMSM Energy CompanyPMWednesday
TSLATesla, Inc.PMWednesday
HPQHP Inc.PMWednesday
WBWeibo CorporationPMWednesday
CTRPCtrip.com International, Ltd.PMWednesday
LBL Brands, Inc.PMWednesday
CLRContinental Resources, Inc.PMWednesday
YAlleghany CorporationPMWednesday
RRCRange Resources CorporationPMWednesday
KSSKohl’s CorporationAMThursday
APAApache CorporationAMThursday
WWayfair Inc.AMThursday
IDCCInterDigital, Inc.AMThursday
ZBRAZebra Technologies CorporationAMThursday
HLFHerbalife Ltd.PMThursday
ACIAAcacia Communications, Inc.PMThursday
BIDUBaidu, Inc.PMThursday
HPEHewlett Packard Enterprise CompanyPMThursday
INTUIntuit Inc.PMThursday
BMRNBioMarin Pharmaceutical Inc.PMThursday
GPSThe Gap, Inc.PMThursday
JWNNordstrom, Inc.PMThursday
SPLKSplunk Inc.PMThursday
FLFoot Locker, Inc.AMFriday
COGCabot Oil & Gas CorporationAMFriday


24.2.2017

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
MMC73.67 FSLRUNP
VOYA43 HPQNVDA
MYL42.7  NFX
DKS 48.12 WB
NVDA 99.11 LB
    SINA
    SLCA
    X
    CLVS
    URI

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

11.2.2017AKAOLongClose16.2.2017+11.29%
22.2.2017DATALongClose6.2.2017+13.09%
37.2.2017GNCShortClose9.2.2017+3.26%
49.2.2017PGLongClose13.2.2017-0.63%
59.2.2017ATILongClose14.2.2017+2.42%
613.2.2017STXLongClose16.2.2017+1.26%
714.2.2017CXWLongClose23.2.2017+4.53%
815.2.2017ZENLongClose23.2.2017+1.60%
921.2.2017AALongClose23.2.2017-1.17%
1022.2.2017SCORShortOpen +1.03%
1123.2.2017NTAPLongOpen +0.34%
12      
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