Picks of the Day December 20, 2017.

Sell the News!

Stocks on Wall Street took a step backwards on Tuesday, the enthusiasm about the high chances of tax reform being passed into law offset by concerns about the monetary policy in place now for years and the future of interest rates.

The House of Representatives passed its tax bill yesterday afternoon. The Senate then followed up by revising three elements of the bill, one of them being the bill’s title. At this point, the Senate version has been voted on and approved and now the House of Representatives, having to vote on legislation identical to the Senate version, will vote again today on the Senate’s bill, before it’s sent to the President for his signature.

Stocks deepened their losses after Congress’s vote yesterday, after weeks of gains driven by the optimism that the tax cut would create a surge in firms’ earnings and the U.S. economy. Some investors are claiming that a lot of these benefits are already priced into stock valuations.

The S&P 500 has already risen 5% since mid-November, when Congress presented its tax bill.

Daily Summary: The Dow Jones fell 0.15%, the S&P 500 shedding 0.32%. The NASDAQ closed off 0.44%.

One of the stocks that stood out in yesterday’s trading was Apple (AAPL), which fell 1.1% after the broker, Instinet, lowered its rating on the stock to neutral, noting that the balance between demand and supply for the iPhone X reflects very little room for a sales increase next quarter.

ZBH soared 6.1%, making it the strongest stock on the S&P 500 after appointing a new CEO.

Trading volumes stood at 6.6 billion shares, beneath the 6.8 billion average over the last 20 trading days.

 

Wednesday: Investors today are keeping their eyes peeled for existing home sales at 10:00 N.Y. time, after the new home sales figure came out yesterday above analysts’ projection. Weekly oil inventories will be released at 10:30.

Earnings numbers are expected today from General Electric (GIS) before opening.

IndexLast

Daily change

DJX24,755(0.15%)Down
SPX2,681(0.32%)Down
Nasdaq6,964(0.44%)Down

 

Today’s Hot Stocks: FDX, GIS, SFIX, RHT, MU, SCS

IPOs: AVI

Have a great trading day!

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Monday10:00Housing Market Index70Medium
Tuesday8:30Housing Starts1.240 MMedium
Wednesday10:00Existing Home Sales5.520 MMedium
Wednesday10:30Oil InventoriesLow
Thursday8:30GDP3.3 %High
Thursday8:30Jobless Claims234 KMedium
Thursday9:00FHFA House Price Index0.4 %Medium
Thursday10:00Leading Indicators0.3%Medium
Friday8:30Durable Goods Orders2.0 %Medium
Friday8:30Personal Income and Outlays0.4 %Medium
Friday10:00New Home Sales650 KMedium
Friday10:00Consumer Sentiment97.0High
Friday8:30Empire State Mfg Survey-0.1Medium

 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
KBKB Financial Group Inc.AMMonday
DRIDarden Restaurants, Inc.AMTuesday
NAVNavistar International CorporationAMTuesday
WORWorthington Industries, Inc.AMTuesday
CCLCarnival CorporationAMTuesday
MUMicron Technology, Inc.PMTuesday
FDXFedEx CorporationPMTuesday
RHTRed Hat, Inc.PMTuesday
GISGeneral Mills, Inc.AMWednesday
MLHRHerman Miller, Inc.PMWednesday
BBBYBed Bath & Beyond Inc.PMWednesday
PAYXPaychex, Inc.AMThursday
KMXCarMax Inc.AMThursday
CAGConagra Brands, Inc.AMThursday
ACNAccenture plcAMThursday
NKENIKE, Inc.PMThursday
CTASCintas CorporationPMThursday

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
HP60.07 DRIHCN
X34.33 ZBHVTR
CF41.80 AAPLD
GDDY51.29 DNKNCBI
BAX66.18  SPPI
TSCO70.61  SLCA

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

13.11.2017AKAMLongClose8.11.2017+1.37%
210.11.2017JUNOLongClose14.11.2017+1.26%
316.11.2017FLRLongClose25.11.2017+2.16%
46.12.2017SPLKLongClose8.12.2017+1.51%
511.12.2017NKTRLongOpen +2.09%
618.12.2017SYYLongClose19.12.2017+0.14%

 

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

No.1 – TSCO

Company Name
Tractor Supply Company
Entry Point70.61
Stop Area69.40
1st Target71.40
Swing Target
Avg. Volume2.13M
SectorServices | Specialty Retail, Other
Earning Date 
Risk RateNormal
Risk\Reward Ratio