All posts by Todd Mitchell

05-24-2018 Trade of the Day

Small-Caps Show Strength/ VIX at Crucial Level

MARKET SUMMARY

U.S. showed steep losses on the open after President Trump announced he had called off the planned summit meeting with North Korea. The disappointing news was clearly a setback and may be seen as clouding the outlook for a trade resolution with China. However, the major indexes found afternoon strength after the President held a press conference where he is explaining he wouldn't rule out a meeting with North Korea at a later date.

The Russell 2000 was up less than a point, or 0.04%, following a backtest to 1,616 but closed higher for the 6th time in 7 sessions. The Nasdaq was down a point, or 0.2%, after trading to an intraday low of 7,357 but closed above the 7,400 level for the 2nd-straight session.

Both indexes showed strength into the closing bell and was a slightly bullish signal ahead.

The Dow dipped 0.3% after testing an intraday low of 24,605 but was able to hold the 24,800 level into the closing bell. The S&P 500 slipped 0.2% after bottoming at 2,707 while holding major support at the 2,700 level.

Both indexes traded in negative territory throughout the session but remain over 1% above their 50-day moving averages.

PICKING TOPS AND BOTTOMS
ANALYST UPGRADES / DOWNGRADES 

Deere (DE) upgraded to Buy from Neutral at UBS
Northern Oil and Gas (NOG) upgraded to Buy from Hold at SunTrust
Rowan Companies (RDC) upgraded to Outperform from Market Perform at Wells Fargo

AbbVie (ABBV) downgraded to Buy from Conviction Buy at Goldman Sachs
Generac (GNRC) downgraded to Neutral from Outperform at Baird
Petrobras (PBR) downgraded to Equal Weight from Overweight at Morgan Stanley

EARNINGS 

Friday's Earnings
Buckle (BKE), Cae (CAE), Footlocker (FL), Hibbett Sports (HIBB)


UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

Durable Goods Orders - 8:30am
Consumer Sentiment - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,304.40 an ounce, up $14.80

Silver settled at $16.69 an ounce, up $0.28

Copper finished at $3.09 a pound, up $0.02

Crude Oil is at $70.70 a barrel, down $1.14

Bitcoin Investment Trust (GBTC) ended at $12.24 up $0.02

Article of the Day

Options are the most versatile trading instrument ever invented. Since options cost less than stock, they provide a high leverage approach to trading that can significantly limit the overall risk of a trade or provide additional income.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Insert your tweetable quote/phrase here

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05-23-2018 Trade of the Day

Nasdaq Clears and Holds 7,400

MARKET SUMMARY

U.S. markets traded in negative territory throughout much of Wednesday’s action as concerns for an impactful trade deal with China lingered and also for whether or not a planned summit between the U.S. and North Korea will actually be held. The afternoon release of the Fed minutes helped the market rebound as the major indexes turned positive afterwards while holding onto gains into the closing bell.

The Nasdaq showed the most strength after jumping 0.6% while reaching a peak of 7,426 to regain the 7,400 level for the first time in 7 sessions. The S&P 500 gained 0.3% after closing on its session high of 2,733 while holding the 2,700 level for the 10th-straight session.

The Dow climbed 0.2% despite trading to a morning low of 24,667 while closing below the 25,000 level for the 2nd-straight day. The Russell 2000 also added 0.2% following a pullback to 1,618 while closing higher for the 5th time in 6 sessions.

TRADE OF THE DAY
THE OPINION TRAP
ANALYST UPGRADES / DOWNGRADES 

Ameren (AEE) upgraded to Neutral from Sell at Goldman Sachs
Celgene (CELG) upgraded to Outperform from Market Perform at Bernstein
Freeport McMoRan (FCX) upgraded to Buy from Neutral at B. Riley FBR

Celgene (CELG) downgraded to Hold from Buy at Argus
Intuit (INT​U) downgraded to Underweight from Equal-Weight at First Analysis
Shake Shack (SHAK) downgraded to Neutral from Buy at Longbow

EARNINGS 

Thursday's Earnings
​Before the open: ​​​Best Buy (BBY), Hormel Foods (HRL), Luxoft Holding (LXFT), McKesson (MCK), Medtronic (MDT), Royal Bank of Canada (RY), Sanderson Farms (SAFM), TD Bank Group (TD), Toro (TTC)
After the close: ​​Autodesk (ADSK), Deckers Outdoor (DECK), DXC Technology (DXC), ePlus (PLUS), Gap (GPS), New York & Company (NWY), Quality Systems (QSII), Ross Stores (ROST), Shoe Carnival (SCVL), Splunk (SPLK), Veeva Systems (VEEV), Zoe’s Kitchen (ZOES)


UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Jobless Claims - 8:30am
FHFA House Price Index - 9:00am
Bloomberg Consumer Comfort Index - 9:45am
Existing Home Sales - 10:00am
Kansas Fed Manufacturing Index - 11:00am

METALS / OIL

Gold closed at $1,289.60 an ounce, down $2.40

Silver settled at $16.41 an ounce, down $0.17

Copper finished at $3.07 a pound, down $0.06

Crude Oil is at $72.09 a barrel, down $0.15

Bitcoin Investment Trust (GBTC) ended at $12.22 down $0.86

Article of the Day

(Rule #11) Don’t believe the media. Look for the hard data, the numbers, and you’ll see that often the talking heads, the paid industry apologists, and politicians don’t know what they’re talking about. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Insert your tweetable quote/phrase here

Click to Tweet

05-22-2018 Trade of the Day

Market Fades Ahead of Fed Minutes

MARKET SUMMARY

U.S. markets traded higher to start Tuesday’s session but lost momentum into the closing bell to finish lower for the session. Some of the nervousness comes ahead of Wednesday’s Fed minutes along with continued uncertainty over trade policy and other geopolitical issues. Volatility ticked slightly higher but remains at relaxed levels. 

The Russell 2000 set a record intraday high for the 5th-straight session after coming within spitting distance of clearing 1,640 before giving back 0.8%.

The Dow fell 0.7% after testing a morning high of 25,064 but failed to hold the 25,000 level.

The S&P 500 slipped 0.3% despite tapping a fresh month high north of 2,742 but was able to hold the 2,700 level for the 9th-straight session. The Nasdaq dipped 0.2% after reaching a peak of 7,432 while closing below the 7,400 level for a 6th-straight session.

THE SCIENCE OF WINNING - PART 6
ANALYST UPGRADES / DOWNGRADES 

​AB InBev (BUD) upgraded to Sector Perform from Underperform at RBC Capital
IHS Markit (INFO) upgraded to Outperform from Neutral at Macquarie
Macy's (M) upgraded to Positive from Neutral at Susquehanna

BofI Holding (BOFI) downgraded to Neutral from Buy at Compass Point
Cameco (CCJ) downgraded to Sector Perform from Outperform at RBC Capital
Manchester United (MANU) downgraded to Hold from Buy at Deutsche Bank

TUESDAY'S EARNINGS 

​Before the open: ​​Canadian Imperial Bank (CM), iClick (ICLK), Qiwi (QIWI), Ralph Lauren (RL), Target (TGT), Tiffany & Co. (TIF)
After the close: ​Bilibili (BILI), Copart (CPRT), L Brands (LB), Modine Manufacturing (MOD), NetApp (NTAP), nLight (LASR), Synopsys (SNPS), Westell Technologies (WSTL), Williams-Sonoma (WSM)


UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

Redbook - 8:55am
Richmond Fed Manufacturing Index - 10:00am

METALS / OIL

Gold closed at $1,292.00 an ounce, up $1.10

Silver settled at $16.58 an ounce, up $0.06

Copper finished at $3.13 a pound, up $0.04

Crude Oil is at $72.09 a barrel, down $0.15

Bitcoin Investment Trust (GBTC) ended at $13.08 down $0.53

Article of the Day

What are bear call spreads? Find out in this article and learn the steps to using them. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

05-21-2018 Trade of the Day

Dow Reclaims 25,000 Level

MARKET SUMMARY

U.S. markets opened strong and showed steady momentum throughout Monday’s action following chatter China and U.S. trade talks are progressing with tariffs on hold. U.S. Secretary Steve Mnuchin said the U.S. won't impose tariffs on China, for now, and China proposed to significantly increase purchases of U.S. goods and services. Volatility remains relaxed and is trying to clear a key level of support to confirm a continued rally this week and possibly into early June.

The Dow traded higher for the 11th-time in 13 sessions after jumping 1.2% while reaching a peak of 25,086 and holding the 25,000 into the closing bell. The S&P 500 soared 0.7% after making a morning run to 2,739 and coming within 3 points of the monthly high at 2,742.

The Russell 2000 closed at a fresh all-time high for the 4rd-straight session after gaining 0.7% and reaching an intraday peak of 1,639. The Nasdaq climbed 0.5% after testing a high of 7,431 but fell shy of holding the 7,400 level by a 6-pack.

THE SCIENCE OF WINNING - PART 5
ANALYST UPGRADES / DOWNGRADES 

Ctrip (CTRP) upgraded to Buy from Hold at TH Data Capital
Dillard's (DDS) upgraded to Buy from Underperform at BofA/Merrill
Snap (SNAP) upgraded to Neutral from Sell at Moffett Nathanson
American Eagle (AEO) downgraded to Hold from Buy at SunTrust
Bristol-Myers (BMY) downgraded to Neutral from Buy at UBS
Williams Partners (WPZ) downgraded to Hold from Buy at Stifel

TUESDAY'S EARNINGS 

​Before the open: ​Advance Auto Parts (AAP), AutoZone (AZO), Cracker Barrel (CBRL), Dycom Industries (DY), Eaton Vance (EV), International Game Technology (IGT), Kohl’s (KSS), Photronics (PLAB), TJX Companies (TJX), Toll Brothers (TOL)
After the close: ​Container Store Group (TCS), Hewlett Packard Enterprises (HPE), Intuit (INTU), Ooma (OOMA), Red Robin Gourmet Burgers (RRGB), Transcat (TRNS). Urban Outfitters (URBN)


UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

Redbook - 8:55am
Richmond Fed Manufacturing Index - 10:00am

METALS / OIL

Gold closed at $1,290.90 an ounce, down $0.40

Silver settled at $16.52 an ounce, up $0.07

Copper finished at $3.09 a pound, up $0.03

Crude Oil is at $71.35 a barrel, down $0.19

Bitcoin Investment Trust (GBTC) ended at $13.61 up $0.07

Article of the Day

Trading has two extremes. On one end is buy and hold and on the other end is day trading. Buy and hold may be preferred by some... [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

05-20-2018 Trade of the Day

Small-Caps Get Hat Trick on Weekly Gain

MARKET SUMMARY

U.S. markets were mostly lower on Friday as Wall Street wrestled with lingering uncertainty over trade negotiations between the U.S. and China. There were contradicting reports on whether China had agreed to cut its trade surplus with the U.S. by $200 billion, but a China official denied that an offer had been made. The confusion kept many traders on the sidelines and the market in a tighter range with volatility remaining rather calm and the major indexes finishing mixed for the week.

The Russell 2000 closed at an all-time high for the 3rd-straight session after adding 0.1% and reaching an intraday peak of 1,630. The small-caps were up 1.3% for the week, its third straight positive week, and have closed higher in 11 of the past 14 sessions.

The Nasdaq declined 0.4% after trading in negative territory throughout the session with the low tapping 7,343. Tech closed below the 7,400 level for the first time in four sessions and was down 0.7% for the week.

The S&P 500 fell 0.3% after bottoming at 2,709 while holding the 2,700 level for the 7th-straight session. The index has closed lower in 3 of the past 4 sessions.

The Dow tested a morning high of 24,774 before closing with a 1-point gain, or 0.0%. The index has traded higher in 10 of the past 12 sessions.

For the week, both the Dow and the S&P fell 0.5%. It is the third weekly decline in the past four for both indexes.

THE SCIENCE OF WINNING - PART 4
ANALYST UPGRADES / DOWNGRADES 

Eaton (ETN) upgraded to Buy from Neutral at BofA/Merrill
PayPal (PYPL) assumed with a Buy from Neutral at UBS
Williams (WMB) upgraded to Outperform from Sector Perform at Scotiabank
Applied Materials (AMAT) downgraded to Neutral from Buy at Goldman Sachs
Planet Fitness (PLNT) downgraded to In-Line from Outperform at Imperial Capital
Skyworks (SWKS) downgraded to Market Perform from Outperform at Raymond James

MONDAY'S EARNINGS 

​Before the open: Cheetah Mobile (CMCM), Huami (HMI), Monro (MNRO), Qudian (QD)
After the close: Americas CarMart (CRMT), DPW Holdings (DPW), FTE Networks (FTNW), Nordson (NDSN), Pure Storage (PSTG)


UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

Chicago Fed National Activity Index - 8:30am

METALS / OIL

Gold closed at $1,291.30 an ounce, up $1.90

Silver settled at $16.45 an ounce, down $0.03

Copper finished at $3.06 a pound, down $0.02

Crude Oil is at $71.35 a barrel, down $0.19

Bitcoin Investment Trust (GBTC) ended at $13.53 up $0.01

Article of the Day

In a covered call trade, you are buying the underlying stock shares and selling call options against it. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

05-17-2018 Trade of the Day

Russell 2000 Shows Continued Strength

MARKET SUMMARY

U.S. markets were choppy throughout Thursday’s session as concerns over trade talks, rising interest rates, and higher oil prices worried Wall Street. The T-note yield tapped 3.12% intraday and the bond yield eyed 3.25% before pulling back while crude oil cleared $72 barrel. Volatility was relatively calm which help keep losses in check with the small-caps showing continued strength.

The Russell 2000 was higher for a 2nd-straight session after climbing 0.6% while tapping a fresh all-time high of 1,627. The Nasdaq gave back 0.2% despite making a morning push to 7,425 while closing below the 7,400 for a 3rd-straight session.

The S&P 500 slipped 0.1% following a backtest to 2,711 but has been holding the 2,700 for 6-straight sessions. The Dow closed lower for just the 2nd time in 11 sessions after declining 0.2% while bottoming at 24,639 intraday.

THE SCIENCE OF WINNING - PART 3
ANALYST UPGRADES / DOWNGRADES 

Coca-Cola (KO) upgraded to Overweight from Equal Weight at Barclays
ManTech (MANT) upgraded to Outperform from Market Perform at Wells Fargo
Valero (VLO) upgraded to Overweight from Equal Weight at Morgan Stanley
CBS (CBS) downgraded to Neutral from Buy at BofA/Merrill
Molson Coors (TAP) downgraded to Hold from Buy at Stifel
Progressive (PGR) downgraded to Market Perform from Outperform at Keefe Bruyette

EARNINGS

Friday’s earnings: 
Apollo Investment (AINV), AstraZeneca (AZN), Campbell Soup (CPS), Deere & Company (DE)


UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,289.40 an ounce, down $2.10

Silver settled at $16.48 an ounce, up $0.11

Copper finished at $3.08 a pound, up $0.01

Crude Oil is at $71.54 a barrel, up $0.61

Bitcoin Investment Trust (GBTC) ended at $13.53 down $0.22

Article of the Day

Call options give the buyer the right, but not the obligation, to purchase an underlying asset.[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

05-16-2018 Trade of the Day

Small-caps Tap Fresh All-time High

MARKET SUMMARY

U.S. markets opened higher and held steady throughout the first half of action despite weaker-than expected economic news and heightened geopolitical concerns. The back-and-forth rhetoric between North Korea and the U.S. was largely ignored as the major indexes showed renewed momentum into the closing bell. Volatility was contained as resistance held with the small-caps breaking out to a fresh all-time high.

The Russell 2000 surged 1% after trading to a fresh all-time high of 1,620 and topping it’s previous January peak of 1,615. The Nasdaq jumped 0.6% after testing a high of 7,413 but missed holding the 7,400 by a couple points.

The S&P 500 gained 0.4% after making a run to 2,727 to closer higher for the 5th-time in 6 sessions. The Dow was up for the 9th-time in 10 sessions after climbing 0.3% and pushing a high of 24,801.

TRADE OF THE DAY
THE SCIENCE OF WINNING - PART 2
ANALYST UPGRADES / DOWNGRADES 

AMD (AMD) upgraded to Neutral from Negative at SusquehannaTrip
Advisor (TRIP) upgraded to Outperform from Underperform at Macquarie
Urban Outfitters (URBN) upgraded to Neutral from Sell at MKM Partners
3M (MMM) downgraded to Hold from Buy at Jefferies
F5 Networks (FFIV) downgraded to Neutral from Buy at DA Davidson
Vipshop (VIPS) downgraded to Sector Weight from Overweight at KeyBanc

EARNINGS

Thursday’s earnings: 
Before the open: Albireo Pharma (ALBO), Children’s Place (PLCE), Eagle Point Credit (ECC), JC Penney (JPC), Kemet (KEM), Manchester United (MANU), Teekay Tankers (TNK), Walmart (WMT)

After the close: Applied Materials (AMAT), Nordstrom (JWN), Orion Engineered Carbons (OEC), Raven Industries (RAVN), Taro Pharmaceutical (TARO), Voxeljet (VJET)


UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Jobless Claims - 8:30am
Philadelphia Fed Business Outlook Survey - 8:30am
Bloomberg Consumer Comfort Index - 9:45am
E-Commerce Retails Sales - 10:00am
Leading Indicators - 10:00am

METALS / OIL

Gold closed at $1,291.50 an ounce, up $1.20

Silver settled at $16.37 an ounce, up $0.10

Copper finished at $3.07 a pound, up $0.02

Crude Oil is at $71.54 a barrel, up $0.61

Bitcoin Investment Trust (GBTC) ended at $13.75 down $0.50

Article of the Day

A bear call spread is a credit spread created by purchasing a higher strike call and selling a lower strike call with the same expiration dates. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

05-15-2018 Trade of the Day

Bears Make an Appearance

MARKET SUMMARY

U.S. markets traded in negative territory throughout the majority of Tuesday’s session with the weakness attributed to a rise in interest rates and mixed economic news. The selling pressure caused a slight spike in volatility with near-term resistance holding and the major indexes improving off their worst levels into the closing bell.

​The Dow dropped 0.8% after testing a low of 24,629 to snap an 8-session win streak. The S&P 500 sank 0.7% to snap a 4-session win streak while trading to a low of 2,701. Both indexes remain roughly 1% above their 50-day moving averages.

The Nasdaq was lower for the 2nd time in 3 sessions after falling 0.8% and making a backtest to 7,320. The Russell 2000 was flat, literally, after trading in an 11-point range while holding the 1,600 level.

TRADE OF THE DAY
THE SCIENCE OF WINNING - PART 1
ANALYST UPGRADES / DOWNGRADES 

Gap (GPS) upgraded to Outperform from Market Perform at Telsey Advisory
CBS (CBS) upgraded to Outperform from Market Perform at Bernstein
Valeant (VRX) upgraded to Buy from Neutral at Mizuho
Ford (F) downgraded to Neutral from Overweight at Piper Jaffray
ClearOne (CLRO) downgraded to Neutral from Buy at B. Riley FBR
Travelport (TVPT) downgraded to Neutral on valuation at BofA/Merrill

EARNINGS

Wednesday’s earnings: 
Before the open: Azz (AZZ), CPI Areostructures (CVU), Eagle Materials (EXP), Home Depot (HD), iPic Entertainment (IPIC), Kamada (KMDA), National Vision Holdings (EYE), Pointer Telocation (PNTR), Sorl Auto Parts (SORL), Virtusa (VRTU)

After the close: Boot Barn Holdings (BARN), DLH Holdings (DLHC), GrowGeneration (GRWG), Limbach Holdings (LMB), NetList (NLST), PerIQ (PETQ), Sunworks (SUNW)


UPCOMING ECONOMIC NEWS

Wednsday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
Housing Starts - 8:30am
Industrial Production - 9:15am
Atlantic Fed Business Inflation Expectations - 10:00am

METALS / OIL

Gold closed at $1,290.30 an ounce, down $27.90

Silver settled at $16.27 an ounce, down $0.38

Copper finished at $3.05 a pound, down $0.04

Crude Oil is at $70.93 a barrel, down $0.21

Bitcoin Investment Trust (GBTC) ended at $14.25 down $0.25

Article of the Day

The bursting of the dotcom bubble has brought prominence to some of these collars, including Mark Cuban’s of his Yahoo stock. The following article gives an example of the anatomy of a collar using the publicly available information about Cuban’s Yahoo collar. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

05-14-2018 Trade of the Day

Small-Caps Lag After Failing Resistance

MARKET SUMMARY

U.S. markets showed strength on the open following optimism surrounding continued trade talks with China. The country’s top economic advisor, Liu He, is scheduled to meet with U.S. Treasury Secretary Mnuchin to close a deal that would ease restrictions for a major Tech company in return for China removing tariffs on U.S. soybeans, pork and ginseng. The momentum held throughout the session although there was weakness in the small-caps afterwards as the major indexes closed mixed for the session.

The Dow rose 0.3% after making a run to 24,994 to close higher for an 8th-straight session. The S&P 500 gained 0.1% to extend its winning streak to 4-straight while reaching a peak of 2,742.

The Nasdaq closed higher for the 6th-time in seven sessions after adding 0.1% and making an intraday push to 7,458. The Russell 2000 slipped 0.4% after failing its all-time high of 1,615 by just over a point shortly after the open.

TRADE OF THE DAY
WHEN MARKETS MISBEHAVE
ANALYST UPGRADES / DOWNGRADES 

CSX (CSX) upgraded to Neutral from Sell at Goldman Sachs
L Brands (LB) upgraded to Buy from Neutral at Citi
Lear (LEA) upgraded to Outperform from In Line at Evercore ISI
Dean Foods (DF) downgraded to Sell from Hold at Deutsche Bank
Hostess Brands (TWNK) downgraded to Hold from Buy at Deutsche Bank
Owens Corning (OC) downgraded to Market Perform from Outperform at Wells Fargo

EARNINGS

Tuesday’s earnings: 
Before the open: Azz (AZZ), CPI Areostructures (CVU), Eagle Materials (EXP), Home Depot (HD), iPic Entertainment (IPIC), Kamada (KMDA), National Vision Holdings (EYE), Pointer Telocation (PNTR), Sorl Auto Parts (SORL), Virtusa (VRTU)
After the close: Boot Barn Holdings (BARN), DLH Holdings (DLHC), GrowGeneration (GRWG), Limbach Holdings (LMB), NetList (NLST), PerIQ (PETQ), Sunworks (SUNW)


UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

Retail Sales - 8:30am
Empire State Manufacturing Survey - 8:30am
Redbook - 8:55am
Business Inventories -10:00am
Housing Market Index - 10:00am

METALS / OIL

Gold closed at $1,318.20 an ounce, down $2.50

Silver settled at $16.65 an ounce, down $0.10

Copper finished at $3.09 a pound, down $0.02

Crude Oil is at $71.14 a barrel, up $0.63

Bitcoin Investment Trust (GBTC) ended at $14.50 up $0.40

Article of the Day

The biggest mistake that beginners make, especially when they win for a period of time is thinking that the market is going to stay in the same character... [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

05-13-2018 Trade of the Day

Bulls Get Weekly Win

MARKET SUMMARY

U.S. markets were choppy throughout Friday’s session as Wall Street awaited President Trump’s speech regarding drug pricing. The plan called for the use of more generics, more competition, and for Medicare to negotiate better pricing with drug companies. The volatility ahead of the news led to intraday losses before a rebound afterwards that helped push the major indexes towards their morning highs. The overall market closed mixed for the session but the weekly gains were the first in three weeks.

The Dow closed higher for the 7th-straight session after climbing 0.4% while reaching a peak of 24,868. The S&P 500 extended its win streak to 3-straight sessions after adding 0.2% while testing a high of 2,732. For the week, the S&P 500 soared 2.4% while the Dow rallied 2.3%.

The Russell 2000 was higher by 0.2% after testing a high of 1,609 for the second-straight session while extending its winning streak to six-straight. The Nasdaq slipped 2 points, or 0.03%, after making a back-test to 7,372 before holding the 7,400 level into the closing bell. The small-caps were up 2.8% for the week while Tech jumped 2.7%.

WINNING TRADER'S MINDSET - PART 4
ANALYST UPGRADES / DOWNGRADES 

AMC Networks (AMCX) upgraded to Buy from Hold at Gabelli
U.S. Bancorp (USB) upgraded to Buy from Neutral at Citi
Verizon (VZ) upgraded to Overweight from Neutral at JPMorgan
Kohl's (KSS) downgraded to Neutral from Outperform at Credit Suisse
L Brands (LB) downgraded to Neutral from Overweight at Atlantic Equities
Symantec (SYMC) downgraded to Sell from Neutral at MoffettNathanson

EARNINGS

Monday’s earnings: 
Before the open: Alta Mesa Resources (AMR), DHX Media (DHXM), Eastside Distilling (EAST), Mazor Robotics (MZOR), Nine Energy Services (NINE), Pyxis Tankers (PXS), Remark Holdings (MARK), Staffing 360 Solutions, Westwater Resources (WWR)
After the close: Agilent Technologies (A), Bovi Medical (BVX), Dicerna Pharmaceuticals (DRNA), Five Point Holdings (FPH), iCad (ICAD), Invitation Homes (INVH), Itron (ITRI), LightPath Technologies (LPTH), OrthoPediatrics (KIDS), Pioneer Power Solutions (PPSI), Restoration Resources (ROSE), Switch (SWCH), Vipshop Holdings (VIPS), YogaWorks (YOGA)


UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): No major announcements

METALS / OIL

Gold closed at $1,320.70 an ounce, down $1.60

Silver settled at $16.75 an ounce, down $0.01

Copper finished at $3.11 a pound, unchanged

Crude Oil is at $70.51 a barrel, down $0.85

Bitcoin Investment Trust (GBTC) ended at $14.10 down $0.48

Article of the Day

#1 - Know the difference between trading and investing. We are traders, NOT investors. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY
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