Cyberattacks Wipe Out Accounts!

It happened yesterday for the second time this month: tech investment accounts suffered large losses. The tech-leaning NASDAQ saw the biggest losses yesterday on Wall Street, the market as a whole falling more rapidly after the Senate healthcare vote was postponed, which cast doubt on Trump’s ability to put into law his campaign agenda. The S&P 500 saw its biggest losing day in 6 weeks, closing at its lowest level since May.

Indexes took a harder fall after the Republican majority leader, Mitch McConnell, decided to push back the vote planned for the health care reform bill until after the Senate re-adjourns after July 4th. The health care legislation, heretofore resisted by a number of Republican senators, is the first test case for Trump’s agenda, investors waiting on pins and needles for Trump to advance the other parts of his agenda to the beat of tax cuts, infrastructure spending and slashing regulation. Trump’s commitment to subscribe to these policies had helped ignite a 13.1% rally on the S&P 500 after the November 8th presidential elections.

In Summary for the Day: The Dow Jones fell 0.46%, the S&P 500 shedding 0.81%. The NASDAQ plunged 1.61%.

One tech heavyweight, Google (GOOGL) fell 2.5% after the European Commission fined the company $2.7 billion. The NASDAQ saw its biggest daily drop since June 9th, putting the whole tech sector on edge. Tech stocks (XLK) fell 1.7% yesterday, closing beneath their 50 period EMA (a key technical level), while at the same time remaining the best performing sector of the year. Facebook (FB), Netflix (NFLX) and Amazon (AMZN) all closed sharply off by at least 1.5%.

On yesterday’s Economic Diary, the Consumer Confidence Index for June outstripped expectations with a 118.9 point reading. Economists had expected a 116 point reading.

A number of key Fed speakers spoke yesterday. The president of the Philadelphia Fed Bank, Patrick Harker, related that the Fed’s plan is to hike rates one more time this year, when considering that the weakness in inflation is temporary and transient. In London, Fed Chairwoman, Janet Yellen, shared that she doesn’t believe that there will be another financial meltdown – at least in her lifetime – due to the large reforms put in place in the banking system since the 2007-2009 collapse.

Investors are prepping themselves for the Q2 earnings season, after Q1 came out especially strong. The 12-month forward P/E for the S&P 500 is 18, significantly above the historical average of 15.

Wednesday: Trading on Wednesday will be impacted by the response to the pending home sales report for May. The report is an economic indicator in its own right, measuring the number of homes for which the contract’s been signed, with the deal yet to be finalized. It usually takes between 4-6 weeks for deals like these to close.

After crude saw sharp declines in June – officially entering a bear market – the “black gold” bounced back 1.9% yesterday and traded above the $44 barrel level. Traders, today, are anxiously awaiting weekly inventory figures which will be released at 10:30 N.Y. time.

The firms reporting before opening today include MON, PAYX, and GIS. One new issue is expected on Wall Street today, a Massachusetts biotech firm that will traded under the symbol, MRSN, which will focus on treatment for cancer patients. It’s important to note that 2 pharmaceutical giants, Pfizer and Takeda, are both stakeholders, having voiced a desire to buy in to the effect of up to $30 million. Mersana (MRSN) is looking to raise $75 million, Takeda having already invested $10 million in the startup last year.

Index Last Daily change
DJX (0.46%) 21,311 Down
SPX (0.81%) 2,419 Down
Nasdaq (1.61%) 6,147 Down

Wednesday’s Hot Stocks: CAMP, AVAV, PAYX, GIS, MON


Have a great trading day!


Economic Calendar


DAY TIME (EST) Event Forecast Impact
Monday 8:30 Durable Orders -0.6% Medium
Tuesday 10:00 Consumer Confidence 116.7 Medium
Wednesday 10:30 Crude Oil Inventories Low
Thursday 8:30 GDP – Third Estimate 1.2% High
Thursday 8:30 Initial Claims 241K High
Friday 8:30 Personal Income 0.3% Medium
Friday 8:30 Personal Spending 0.1% Medium
Friday 8:30 PCE Prices Medium
Friday 9:15 Chicago PMI 57.8 Medium
Friday 10:00 Michigan Sentiment – Final 94.7 High


Earning Calendar


Symbol Company AM/PM Day
FDS FactSet Research Systems Inc. BMO Tuesday
DRI Darden Restaurants, Inc. BMO Tuesday
PAYX Paychex, Inc. BMO Wednesday
GIS General Mills, Inc. BMO Wednesday
MON Monsanto Company BMO Wednesday
WOR Worthington Industries, Inc. AMC Wednesday
MKC McCormick & Company, Incorporated BMO Thursday
CAG Conagra Brands, Inc. BMO Thursday
WBA Walgreens Boots Alliance, Inc. BMO Thursday
STZ Constellation Brands, Inc. BMO Thursday
NKE NIKE, Inc. BMO Thursday
MU Micron Technology, Inc. AMC Thursday


Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
CLR 30.18   WDC
HDS 30.74   AAOI
ALB 103.63   BMRN


New York Strategy Swing

# Date Stock Long\


Statues Data Close Profit\


1 1.5.2017 AAOI Long Close 2.5.2017 +0.54%
2 3.5.2017 SCSS Long Close 9.5.2017 -1.71%
3 4.5.2017 CRZO Short Close 5.5.2017 +0.30%
4 8.5.2017 WTW Long Close 16.5.2017 +6.09%
5 15.5.2017 AAN Long Close 16.5.2017 -1.70%
6 16.5.2017 CCL Long Close 17.5.2017 -0.41%
7 17.5.2017 AMAG Short Close 24.5.2017 +5.38%
8 17.5.2017 AAN Long Close 24.5.2017 -2.59%
9 19.5.2017 TRCO Long Close 23.5.2017 -1.45%
10 19.5.2017 GIMO Long Close 26.5.2017 +2.05%
11 1.6.2017 BF.B Long Close 6.6.2017 +0.95%
12 7.6.2017 LULU Long Close 9.6.2017 -2.24%
13 14.6.2017 SIG Short Close 23.6.2017 +2.29%
14 16.6.2017 AABA (YHOO) Long Close 26.6.2017 +3.14%
15 21.6.2017 KR Short Open 27.6.2017 -2.75%


Today’s Picks – Swing “New-York Strategy

 No.1 –  DKS

Company Name Dick’s Sporting Goods
Entry Point 39.50
Stop Area 40.55
1st Target 38.30
Swing Target 35.87
Avg. Volume 2.7M
Sector Services | Sporting Goods Stores
Earning Date
Risk Rate Normal
Risk\Reward Ratio 3.46:1