“The Opposite of Love isn’t Hate”

“The opposite of love isn’t hate, it’s indifference,” and that’s the only emotion elicited by the lack of the market movement yesterday. The market didn’t succeed in adding on to the rally 2-days ago after news of the rate hike broke; at the same time, the bears, yesterday, failed to take the upper hand.

Stocks on Wall Street saw downward pressure on Thursday from biotech stocks, as traders locked in profits from one of the strongest performing sectors year-to-date. Donald Trump’s budget proposal signaled the advent of regulation that would lead to higher costs for the sector and a cut in federal financing for medical research. Though there’s still a way to go before any of these things play out in reality, they gave traders reason enough to get out. The biotech sector (IBB) ended off 1.27% on the day.

Market bulls might tell us that the market took a breather to digest prices before the next wave lifting the market higher, the bears though, laying claim to the market having stalled, signaling that the market’s in the process of peaking. As traders’ bad luck may have it, the opposite of gains isn’t a turn for the worse for stocks, affording the opportunity to bet against the market. The opposite of love, in our market, is in fact indifference, that is to say, very boring trading!

The financial sector shined yesterday with a rebound after the sector was the market’s worst performing on Wednesday.

In summary for the day, the S&P 500 shed 0.16%, the NASDAQ ending negligibly up by 0.01%. Gold climbed 0.41% to its highest level since March 6th, crude falling 0.19% to the $48.75 barrel level

One of the stocks that stood out yesterday was Oracle (ORCL), which soared to a new historic high at the $46.99 level, before closing up 6.2% at the $45.73 level, after reporting better than expected quarterly results.

Tyson Foods (TSN) slipped 1.7% to the $62 level on the background of news that a particularly virulent strain of bird flu had broken out at a second farm supplying the company.

On the S&P 500, 52 stocks rose to new 52-week highs, with one dipping to a new yearly low; on the NASDAQ, 145 stocks recorded new 52-week highs, 52 falling to new yearly lows.

About 6.6 billion shares changed hands on U.S. exchanges, beneath the 6.96 billion average over the last 20 trading days.

Friday: After a whole slew of economic figures were released yesterday, another flood is expected today, traders keeping a watchful eye on industrial output figures, the Consumer Price Index and the Leading Indicators Index.

Index Last Daily change R2 R1 PP S1 S2
DJX 20,935 (-0.07%) Down          
SPX 2,381 (-0.16%) Down 240.71 239.83 238.56 237.68 236.41
Nasdaq 5,901 0.01% Up 133.15 132.63 131.88 131.36 130.61

Friday’s Hot Stocks: ADBE, ALR, TIF, HIG, THR, VMC, NOV, MRO, LVS, WDC

IPOs: MULE, PUMP

Have a great trading day!

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 8:30 PPI 0.1% High
Wednesday 8:30 CPI 0.1% High
Wednesday 8:30 Retail Sales 0.1% High
Wednesday 8:30 Empire Manufacturing 14.5 Medium
Wednesday 10:00 Business Inventories 0.3% Medium
Wednesday 10:00 NAHB Housing Market Index 65 Medium
Wednesday 15:30 Crude Inventories Low
Wednesday 14:00 FOMC Rate Decision 0.875% High
Thursday 8:30 Housing Starts 1260K High
Thursday 8:30 Initial Claims 242K High
Thursday 8:30 Philadelphia Fed 25.0 Medium
Thursday 10:00
JOLTS – Job Openings
Medium
Friday 9:15 Industrial Production 0.2% Medium
Friday 10:00 Leading Indicators 0.5% Medium
Friday 10:00 Mich Sentiment 96.8 High

 

Earning Calendar

 

Symbol Company AM/PM Day
YY YY Inc. AM Tuesday
ORCL Oracle Corporation PM Tuesday
FTI TechnipFMC plc PM Tuesday
JBL Jabil Circuit, Inc. PM Wednesday
WSM Williams-Sonoma, Inc. PM Wednesday
DG Dollar General Corporation AM Thursday
ADBE Adobe Systems Incorporated PM Thursday
ALR Alere Inc. AM Friday
TIF Tiffany & Co. AM Friday


17.
3.2017

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
VMW 92.35   SFM ADSK
BABA 106.25     BLUE
MA 113     NEM
         
         
         
         
         
         
         
         
         
         

 

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 Close 24.2.2017 +0.78%
11 23.2.2017 NTAP Long Close 8.3.2017 +2.95%
12 27.2.2017 DATA Long Close 1.3.2017 -2.14%
13 6.3.2017 LBTYK Long Close 14.3.2017 +2.47%
14 8.3.2017 FTNT Long Close 9.3.2017 +0.37%
15 13.3.2017 ARNC Long Open   +1.11%
16 14.3.2017 MOMO Long Open   +6.12%
17 15.3.2017 PTLA Long Open   +1.02%

 

Today’s Picks – Swing “New-York Strategy

No.1 –    NTNX

Company Name Nutanix
Entry Point 20.70
Stop Area 19.90
1st Target 21.70
Swing Target 25.50
Avg. Volume 1.08M
Sector Technology | Technical & System Software
Earning Date
Risk Rate Normal
Risk\Reward Ratio 6.00:1