Can the Strongest Stocks Lead the Charge?

The bulls yesterday had a few things going for them, the first day of the new month – a holiday in parts of the world – and a congressional budgetary deal. It helped, all-in-all, to produce a positive day on Wall Street, but once again, the market tiptoed forward, edging higher primarily because of the big caps and large tech stocks.

The NASDAQ 100 rallied 0.85%, the Dow Jones ending off 0.13%. The stocks leading yesterday’s movement could be given the code name: TPFAANG, in other words, TSLA, PCLN, FB, AMZN, AAPL, NFLX, and GOOGL.

Outside of these tech stocks, movement was mostly mixed. Altogether, 3,750 stocks traded up, 2,900 trading down, with 600 stocks recording new 12-month highs. That certainly can’t be something bad – and bespeaks nothing ill about the index. The NASDAQ is clearly outperforming other indexes – and by some measures, the NASDAQ is already stretched. All of the other indexes have managed to maintain their uptrend, though, and technically-speaking seem to be in good shape.

The question is whether the market’s strongest-performing stocks can continue to lead the charge – or not! We’ve already seen markets that succeeded in rallying over the long-term, led higher by a small cadre of top-performers which offset the entrenched weakness in many a weaker performing firm. That was the case for most of 2015 when the average stocks significantly underperformed the large indexes.

In a work environment like our own, we have to be selective in the way we choose stocks – and if the ones selected are not among those top-performing stocks, the select big caps, make sure you’re carefully monitoring and managing your positions.

Yesterday’s movement was better than that seen on Friday, bulls now well-positioned to continue the charge and solidify their advantage, but indexes need to start moving in tandem for this rally to be more convincing.

Tuesday: The Economic Diary today will be thin, with April’s automobile sales, expected to be released during trading. Investors are now eagerly awaiting the numbers of Apple (AAPL), which will be released today after closing. Also, today before opening, be primed for the results of the large pharmaceutical players, PFE and MRK, along with AET, MA, COH, LL, COP and CVS.

IndexLastDaily changeR2R1PPS1S2
DJX20,913(-0.13%)Down     
SPX2,3880.17%Up236.91236.18235.30234.57233.69
Nasdaq6,0920.73%Up132.73132.39132.04131.70131.35

Today’s Hot Stocks: AMD, THC, TXRH, CHGG, COH, AET, MA, LL, COP, CVS

IPOs: None

Have a great trading day!

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Monday8:30Personal incomeMedium
Monday8:30Consumer spendingMedium
Monday9:45Manufacturing PMIMedium
Monday10:00ISM manufacturingHigh
Monday10:00 Construction spendingMedium
Tuesday14:00April vehicle salesLow
Wednesday8:15ADP payrollsHigh
Wednesday9:45Services PMIMedium
Wednesday10:30Crude Oil InventoriesLow
Wednesday10:00ISM non-manufacturingMedium
Wednesday14:00Fed decisionHigh
Thursday8:30Jobless claimsHigh
Thursday10:00Factory ordersMedium

 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
THCTenet Healthcare Corp.PMMonday
LLLumber Liquidators Holdings, Inc.AMTuesday
MAMastercard IncorporatedAMTuesday
AETAetna Inc.AMTuesday
COHCoach, Inc.AMTuesday
COPConocoPhillipsAMTuesday
CVSCVS Health CorporationAMTuesday
MOSThe Mosaic CompanyAMTuesday
MRKMerck & Co., Inc.AMTuesday
PFEPfizer Inc.AMTuesday
GILDGilead Sciences, Inc.PMTuesday
AAPLApple Inc.PMTuesday
WTWWeight Watchers International, Inc.PMTuesday
TWXTime Warner Inc.AMWednesday
ELThe Estee Lauder Companies Inc.AMWednesday
FBFacebook, Inc.PMWednesday
AIGAmerican International Group, Inc.PMWednesday
KHCThe Kraft Heinz CompanyPMWednesday
TSLATesla, Inc.PMWednesday
METMetLife, Inc.PMWednesday
VIABViacom, Inc.AMThursday
KKellogg CompanyAMThursday
CABCabela’s IncorporatedAMThursday
CBSCBS CorporationPMThursday
ATVIActivision Blizzard, Inc.PMThursday
SHAKSHAKE SHACK INC.PMThursday
ZZillow Group, Inc.PMThursday
MCOMoody’s CorporationAMFriday
CICigna CorporationAMFriday
CTSHCognizant Technology Solutions CorporationAMFriday

 

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
TWLO35 EXPEWSM
EXPE137 CTRPDLTR
CNC75.43 TSLA 
WYNN127.20   
NBIX54.82   
JBHT 88  
CLR 41.28  
KS 20.19  

  

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

16.3.2017LBTYKLongClose14.3.2017+2.47%
28.3.2017FTNTLongClose9.3.2017+0.37%
313.3.2017ARNCLongClose21.3.2017+1.92%
414.3.2017MOMOLongClose20.3.2017+5.50%
515.3.2017PTLALongClose17.3.2017+0.65%
617.3.2017NTNXLongClose21.3.2017-4.23%
722.3.2017FNSRShortClose25.3.2017-2.78%
827.3.2017AKAOLongClose31.3.2017+11.31%
930.3.2017AFSIShortClose3.4.2017-6.63%
103.4.2017ARNCLongClose31.3.2017-2.52%
113.4.2017GMEShortClose10.4.2017+1.95%
125.4.2017IPXLLongClose11.4.2017+7.03%
1313.4.2017NKTRLongClose21.4.2017+0.61%
1425.4.2017LULUShortOpen +0.14%
1526.4.2017GNCLongClose28.4.2017-4.39%
1628.4.2017CARALongClose1.5.2017-3.23%
171.5.2017AAOILongOpen +1.37%
18      

 


 

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

Company NameCarrizo Oil & Gas, Inc.
Entry Point25
Stop Area26.25
1st Target24.55
Swing Target
Avg. Volume1.48M
SectorBasic Materials | Independent Oil & Gas
Earning Date9 May
Risk RateNormal
Risk\Reward Ratio
Company Name 
Entry Point 
Stop Area 
1st Target 
Swing Target 
Avg. Volume 
Sector 
Earning Date 
Risk Rate 
Risk\Reward Ratio 

 No.1 –  CRZO

Company NameCarrizo Oil & Gas, Inc.
Entry Point25
Stop Area26.25
1st Target24.55
Swing Target
Avg. Volume1.48M
SectorBasic Materials | Independent Oil & Gas
Earning Date9 May
Risk RateNormal
Risk\Reward Ratio