01-14-2018 Trade of the Day

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Bulls Push Another Round of Record Highs

MARKET SUMMARY

U.S. markets traded higher on Friday and ahead of the holiday weekend to set another round of record highs as 4Q earnings earnings season began.

The Dow rose 0.9% after testing an intraday high of 25,810 while gaining 2% over the week. The S&P 500 advanced 0.7% after closing a point off its late day run to 2,787 to book a 1.6% gain for the week. It was the second-straight up week for both the Dow and the S&P 500, as well as their seventh positive week in the past eight.

The Nasdaq rose 0.7% after trading to an all-time peak of 7,265 and was up 1.7% over the past week, its second consecutive weekly advance. The Russell 2000 climbed 0.3% after coming within 2 points of clearing the 1,600 level. For the week, the small-caps rallied 2%, its biggest weekly advance since September.

Note: No Trade of the Day - markets closed Monday

THE SCIENCE OF WINNING - PART 5
ANALYST UPGRADES / DOWNGRADES 

Dick's Sporting (DKS) upgraded to Buy from Hold at Deutsche Bank
eBay (EBAY) upgraded to Buy from Hold at SunTrust
Kohl's (KSS) was upgraded to Overweight from Neutral at JPMorgan

Facebook (FB) downgraded to Hold from Buy at Stifel
Etsy (ETSY) downgraded to Underweight from Equal Weight at Morgan Stanley
Snap (SNAP) downgraded to Underperform from Market Perform

EARNINGS

Monday'scheduled earnings include: 

(The market is closed Monday for Martin Luther King Jr. Day)

UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

Empire State Manufacturing Survey - 8:30am

METALS / OIL

Gold closed at $1,334.90 an ounce, up $12.40

Silver settled at $17.14 an ounce, down $0.18

Copper finished at $3.22 a pound, down $0.01

Crude Oil closed at $64.40 a barrel, up $0.60

Bitcoin Investment Trust (GBTC) settled at $1,970.00, up $261.99

ARTICLE OF THE DAY
RULES FOR TRADING SUCCESS

Here are my 20 Rules for Trading Success...[read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-11-2018 Trade of the Day

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Record Highs Back in Play

MARKET SUMMARY

​U.S. markets returned to their winning ways after rebounding on Thursday to push fresh all-time highs. The Russell 2000 showed the most strength after surging 1.7% while closing on its high of 1,586. The Nasdaq jumped 0.8% after trading past the 7,200 level to close at a record high of 7,211.

The Dow also added 0.8% after tapping an intraday high of 25,575while finishing a point off its intraday high. Meanwhile, the S&P 500 gained 0.7% after making a run to 2,767 and ending at its session high.

TRADE OF THE DAY

THE SCIENCE OF WINNING - PART 4
ANALYST UPGRADES / DOWNGRADES 

American Eagle (AEO) upgraded to Buy from Neutral at Buckingham
STMicroelectronics (STM) upgraded to Outperform from Neutral at Credit Suisse
VMware (VMW) upgraded to Outperform from Market Perform at Cowen

Acuity Brands (AYI) downgraded to Neutral from Buy at Seaport Global
Hawaiian Holdings (HA) downgraded to Hold from Buy at Argus
Tractor Supply (TSCO) downgraded to Neutral from Outperform at Wedbush

EARNINGS

Friday'scheduled earnings include: 

BlackRock (BLK), JPMorgan Chase (JPM), PNC Bank (PNC), Wells Fargo (WFC)

UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

Consumer Price Index - 8:30am
Retail Sales - 8:30am
Business Inventories - 10:00am

METALS / OIL

Gold closed at $1,322.50 an ounce, up $3.20

Silver settled at $16.97 an ounce, down $0.06

Copper finished at $3.23 a pound, down $0.01

Crude Oil closed at $63.55 a barrel, down $0.02

Bitcoin Investment Trust (GBTC) settled at $1,708.01, down $252.99

ARTICLE OF THE DAY
Bear Put Spreads

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


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-10-2018 Trade of the Day

Bears Make an Appearance

MARKET SUMMARY

U.S. markets closed in the red across the board for the first time in six sessions after showing weakness throughout Wednesday’s session. The losses were minimal with the Dow, Nasdaq and S&P 500 falling 0.1% while holding near-term support. The Russell 2000 slipped 0.02%, or less than a third-point, after recovering much of the morning losses into the closing bell.

TRADE OF THE DAY

THE SCIENCE OF WINNING - PART 3
ANALYST UPGRADES / DOWNGRADES 

Wells Fargo (WFC) upgraded to Neutral from Underweight at Atlantic Equities
Target (TGT) upgraded to Positive from Neutral at Susquehanna
State Street (STT) and BNY Mellon (BK) upgraded to Buy from Neutral at Citi

Hershey (HSY) downgraded to Underweight from Equal Weight by Morgan Stanley
Imax (IMAX) downgraded to Neutral from Overweight at Piper Jaffray
Alaska Air (ALK) downgraded to Equal Weight from Overweight at Barclays

EARNINGS

Thursday'scheduled earnings include: 

Delta Air Lines (DAL), Emmis Communications (EMMS), FuelCell Energy (FCEL), Shaw Communications (SJR)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Jobless Claims - 8:30am
Bloomberg Consumer Comfort Index - 9:45am

METALS / OIL

Gold closed at $1,319.30 an ounce, up $5.60

Silver settled at $17.03 an ounce, up $0.02

Copper finished at $3.24 a pound, up $0.03

Crude Oil closed at $63.44 a barrel, up $0.48

Bitcoin Investment Trust (GBTC) settled at $1,961.00, down $199.00

ARTICLE OF THE DAY
What is a System Health Monitor?

How do you know if your system is in a draw down or is broken? [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-09-2018 Trade of the Day

Small-Caps Slack, Close Slightly Lower

MARKET SUMMARY

U.S. markets showed continued strength throughout Tuesday’s session but settled below record high peaks after pulling back into the closing bell. The Dow showed the most strength after rising 0.4% and trading to an intraday high of 25,439. The S&P 500 gained 0.1% while trading to an all-time high of 2,759 to extend its win streak to five-straight.

The Nasdaq also rose 0.1% after making a record run to 7,181 to keep its five-session win streak intact. Meanwhile, the Russell 2000 tested a lifetime intraday high north of 1,565 before closing 0.1% lower.

JOIN US THURSDAY!

THE SCIENCE OF WINNING - PART 2
ANALYST UPGRADES / DOWNGRADES 

Sunoco (SUN) upgraded to Overweight from Neutral at JPMorgan
Ellie Mae (ELLI) upgraded to Overweight from Equal Weight at Susquehanna
Wells Fargo (WFC) upgraded to Buy from Hold at Sandler O'Neill

AK Steel (AKS) downgraded to Hold from Buy at Jefferies
Fortinet (FTNT) downgraded to Equal Weight from Overweight at Barclays
Barracuda (CUDA) downgraded to Neutral from Outperform at Baird

EARNINGS

Wednesday'scheduled earnings include: 
Lennar (LEN), MSC Industrial Direct (MSM), Signet Jewelers (SIG), KB Home (KBH), Progress Software (PRGS), Saratoga Investment (SAR)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
Import/ Export Prices - 8:30am
Atlanta Fed Business Inflation Expectations - 10:00am
Wholesale Trade - 10:00am

METALS / OIL

Gold closed at $1,313.70 an ounce, down $6.70

Silver settled at $17.01 an ounce, down $0.13

Copper finished at $3.21 a pound, down $0.01

Crude Oil closed at $63.49 a barrel, up $0.53

Bitcoin Investment Trust (GBTC) settled at $2,160.00, down $44.73

ARTICLE OF THE DAY
Covered Call Strategy

Covered calls are the most popular option strategy used in today’s markets...[read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-08-2018 Trade of the Day

Dow Closes Slightly Lower

MARKET SUMMARY

U.S. markets closed mostly higher for the fifth-straight session to push continued all-time and fresh closing highs as the start of 4Q earnings season gets underway. The Dow, however, was slightly choppy throughout the session after peaking at 25,311 intraday before closing lower by 0.05%, or 13 points. The Nasdaq showed the most strength after rising 0.3% while tapping 7,161 and ending 4 points off its record high.

The S&P 500 was weak throughout the first half of trading before gaining 0.2% after kissing 2,748 ahead of the closing bell. The Russell 2000 also added 0.2%, or 2 points, after reaching an intraday high just shy of 1,563.

TRADE OF THE DAY

THE SCIENCE OF WINNING - PART 1
ANALYST UPGRADES / DOWNGRADES 

CCaterpillar (CAT) upgraded to Overweight from Neutral at JPMorgan
Applied Materials (AMAT) upgraded to Strong Buy from Buy at Needham
Western Union (WU) upgraded to Neutral from Negative at Susquehanna

Snap (SNAP) downgraded to Hold from Buy at Jefferies
Pandora (P) downgraded to Equal Weight from Overweight at Morgan Stanley
GrubHub (GRUB) downgraded to Neutral from Outperform at Wedbush

EARNINGS

Tuesday'scheduled earnings include: 
Acuity Brands (AYI), Exfo (EXFO), Schnitzer Steel (SCHN), Simply Goods Foods (SMPL), Simulations Plus (SLP), Synnex (SNX), Voxx International (VOXX), WD-40 (WDFC)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

NFIB Small Business Optimism Index - 6:30am
Redbook - 8:55am
JOLTS - 10:00am

METALS / OIL

Gold closed at $1,320.90 an ounce, down $1.90

Silver settled at $17.14 an ounce, down $0.14

Copper finished at $3.22 a pound, down $0.01

Crude Oil closed at $61.46 a barrel, down $0.13
Bitcoin Investment Trust (GBTC)
settled at $2,337.88, down $133.15

ARTICLE OF THE DAY
A Quick Review of Call Options

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

01-07-2018 Trade of the Day

Market Extends Winning Streak

MARKET SUMMARY

U.S. markets traded higher for the fourth-straight session following Friday’s run to continued all-time highs. The Dow rose 0.9% after trading to 25,299 ahead of the closing bell while setting its third-straight record close. The S&P 500 climbed 0.7% while closing at 2,743 and a third-point off its fourth-straight closing high. For the week, the S&P jumped 2.6% while the Dow soared 2.3%.

The Nasdaq added 0.8% after tapping 7,137 while ending a half-point off its fourth-straight closing high. The Russell 2000 closed above the 1,560 level after advancing 0.3% but missed a fresh record high by three-quarters of a point. For the shortened week, the Nasdaq rallied 3.4% while the Russell 2000 was up 1.7%.

WORKSHOP REPLAY

WHEN MARKETS MISBEHAVE
ANALYST UPGRADES / DOWNGRADES 

CVS Health (CVS) upgraded to Overweight from Equal Weight at Morgan Stanley
Foot Locker (FL) upgraded to Buy from Neutral at Buckingham
Lowe's (LOW) was upgraded to Overweight from Equal Weight at Barclays

Johnson Controls (JCI) downgraded to Neutral from Outperform at Baird
Roku (ROKU) downgraded to Sell from Neutral at Citi
Wingstop (WING) downgraded to Neutral from Outperform at Wedbush

EARNINGS

Monday'scheduled earnings include: 
Helen of Troy (HELE)

UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

TD AmeriTrade IMX - 12:30am
Consumer Credit - 3:00pm

METALS / OIL

Gold closed at $1,322.30 an ounce, up $0.70

Silver settled at $17.28 an ounce, up $0.01

Copper finished at $3.23 a pound, down $0.03

Crude Oil closed at $61.59 a barrel, down $0.43
Bitcoin Investment Trust (GBTC)
settled at $2,337.88, down $133.88

ARTICLE OF THE DAY
Using Options to Your Benefit

The amazing versatility that an option offers in today’s highly volatile markets is welcome relief from the uncertainties of traditional investing practices...[ read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-04-2018 Trade of the Day

Dow Clears 25,000

MARKET SUMMARY

U.S. markets showed momentum for the third-straight session following better-than-expected economic data. The Russell 2000 climbed 0.2% while finally clearing its early December and previous all-time high following today’s intraday push past 1,560. The Nasdaq followed suit after rising 0.2% and trading to a record high of 7,098 while holding the 7,000 level for the third-straight session.

The Dow was up 0.6% and showed the most strength after clearing another thousand-point milestone while reaching a lifetime intraday high of 25,105. The S&P 500 also kissed a fresh all-time peak of 2,729 after climbing 0.4%.

TRADE OF THE DAY
To learn more about the "Velocity Options Trader" program Craig mentions in the video, click here.

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

Clorox (CLX) upgraded to Neutral from Underperform at BofA/Merrill
Domino's Pizza (DPZ) upgraded to Outperform from Perform at Oppenheimer
Oxford Industries (OXM) upgraded to Buy from Neutral at DA Davidson

Roku (ROKU) downgraded to Underweight from Equal Weight at Morgan Stanley
Snap (SNAP) downgraded to Underperform from Market Perform at Cowen
Western Digital (WDC) downgraded to Market Perform from Outperform at BMO Capital

EARNINGS

Friday'scheduled earnings include: 
Cal-Maine Foods (CALM), Constellation Brands (STZ), Greenbrier Companies (GBX)

UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

Employment Report - 8:30am
International Trade - 8:30am
Factory Orders - 10:00am
ISM Non-Manufacturing Index - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,321.60 an ounce, up $3.10

Silver settled at $17.27 an ounce, unchanged

Copper finished at $3.26 a pound, unchanged

Crude Oil closed at $61.92 a barrel, up $0.29
Bitcoin Investment Trust (GBTC)
settled at $2,204.00, down $51.00

ARTICLE OF THE DAY
How to Avoid Beginning Trader Mistakes

It is an exciting feeling to trade in the markets, whether it is part time to build additional wealth or as a full time trader. It is even more exciting once you find...[ read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-03-2018 Trade of the Day

Russell 2000 Leads Continued Rally

MARKET SUMMARY

U.S. markets showed continued momentum on Wednesday with the Dow setting fresh record highs after falling shy during Tuesday’s session. The blue-chips added 0.4% after reaching an intraday peak of 24,941 to remain on track to trip the 25,000 level. The S&P 500 rallied another 0.6% to clear the 2,700 level for the first time ever, after reaching an intraday high of 2,714.

The The Nasdaq gained 0.8% while setting its second-straight all-time high after testing 7,069 ahead of the closing bell. Meanwhile, the Russell 2000 showed the most strength after surging 1.1% and kissing 1,555 while missing its lifetime high by less than five points.

TRADE OF THE DAY
WINNING TRADER'S MINDSET - Part 3
ANALYST UPGRADES / DOWNGRADES 

General Mills (GIS) upgraded to Neutral from Underweight at Piper Jaffray
Oracle (ORCL) upgraded to Overweight from Equal Weight at Morgan Stanley
United Technologies (UTX) upgraded to Outperform from Sector Perform at RBC Capital

Charles Schwab (SCHW) downgraded to Market Perform from Outperform at JMP Securities
Harley-Davidson (HOG) downgraded to Underperform from Neutral at Longbow
Pinnacle West (PNW) downgraded to Underperform from Neutral at BofA/Merrill

EARNINGS

Thursday's scheduled earnings include: 
AngioDynamics (ANGO), Franklin Covey (FC), Lamb Weston Holdings (LW), Monsanto (MON), PriceSmart (PSMT), RPM International (RPM), Sonic (SONC), Walgreens Boots Alliance (WBA)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Challenger Job-Cut Report - 7:30am
ADP Employment Report - 8:15am
Jobless Claims - 8:30am
Bloomberg Consumer Comfort Index - 9:45am
PMI Services Index - 9:45am

METALS / OIL

Gold closed at $1,318.50 an ounce, up $2.40

Silver settled at $17.27 an ounce, up $0.06

Copper finished at $3.26 a pound, down  $0.02

Crude Oil closed at $61.94 a barrel, up $1.57
Bitcoin Investment Trust (GBTC)
settled at $2,255.00, down $6.50

ARTICLE OF THE DAY
Bear Call Spreads

Today I put on a bear call spread on the SPX that expires on January 12th for a .50 Credit - I sold the 2735 call & bought the 2737.50 Call - read more about Bear Call Spreads [here]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-02-2018 Trade of the Day

Nasdaq Closes Above 7,000

MARKET SUMMARY

U.S. markets pushed prior resistance and traded to fresh all-time highs to open 2018, and ahead of tomorrow’s FOMC minutes. The Nasdaq led the charge after surging 1.5% to clear the 7,000 level for the second time ever, while closing at an all-time high of 7,006. The S&P 500 jumped 0.8% while ending at a record high of 2,695.

The Russell 2000 rallied 0.9% and came within 9 points of a record high while settling at 1,550. The Dow missed its all-time high by a dozen points after rising 0.4%, while clearing and holding prior resistance at 24,800.

TRADE OF THE DAY
WINNING TRADER'S MINDSET - Part 2
ANALYST UPGRADES / DOWNGRADES 

Abbott (ABT) was upgraded to Overweight from Equal Weight at Morgan Stanley
Lennar (LEN) upgraded to Outperform from Market Perform at Wells Fargo
Baxter (BAX) was upgraded to Buy from Neutral at BofA/Merrill

Allstate (ALL) downgraded to Underperform from Market Perform at Keefe Bruyette
Cabot Oil & Gas (COG) downgraded to Underperform from Outperform at Raymond James
Windstream (WIN) downgraded to Underweight from Neutral at JPMorgan

EARNINGS

Wednesday's scheduled earnings include: 
Commercial Metals (CMC), Landec (LNDC), Neogen (NEOG), Resources Connection (RECN), Rite Aid (RAD), UniFirst (UNF)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
Redbook - 8:55am
ISM Manufacturing Index - 10:00am
Construction Spending - 10:00am
FOMC Minutes - 2:00pm

METALS / OIL

Gold closed at $1,316.10 an ounce, up $6.80

Silver settled at $17.21 an ounce, up $0.06

Copper finished at $3.28 a pound, down  $0.02

Crude Oil closed at $60.37 a barrel, down $0.05
Bitcoin Investment Trust (GBTC)
settled at $2,261.50, up $245.50

ARTICLE OF THE DAY
20 Rules for Trading Success

Welcome to the first trading day of 2018. I thought it would be wise to start off with 20 Rules for Trading Success...
 [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

01-01-2018 Trade of the Day

Bears Win Week / Bulls Wrap Up Outstanding 2017

MARKET SUMMARY

U.S. markets closed 2017 on a low note as selling pressure erased weekly gains while snapping 5-week win streaks for the Dow and S&P 500. Both indexes fell 0.5% on Friday while giving back 0.1% and 0.4%, respectively, for the week. The Dow gained 1.8% in December and the S&P 500 rose 1%.

The Russell sank 0.9% to lead Friday’s pullback while the Nasdaq tanked 0.7%. Both indexes also ended the week lower by 0.4% and 0.8%, respectively. For the month, the Nasdaq was up 0.4% while the Russell 2000 fell 0.6%.

For the year, the Nasdaq surged 28% while the Dow jumped 25%. The S&P gained just over 19%, and the Russell 2000 rose 13%. It was the best year for the market since 2013, with the Nasdaq rising for its sixth-straight year, its longest such streak since 1975 to 1980.

SPECIAL MESSAGE FROM TODD
WINNING TRADER'S MINDSET - Part 1
ANALYST UPGRADES / DOWNGRADES 

AstraZeneca (AZN) upgraded to Overweight from Neutral at JPMorgan
PriceSmart (PSMT) upgraded to Outperform from Market Perform at IFS Securities
Novo Nordisk (NVO) upgraded to Neutral from Underweight at JPMorgan

Syntel (SYNT) downgraded to Underperform from Market Perform at Wells Fargo
RioCan (REIT) downgraded to Sector Perform from Outperform at RBC Capital

EARNINGS

Tuesday's scheduled earnings include: 
No major earnings announcements. Fourth-quarter earnings season starts next week.

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

Manufacturing PMI - 9:45am

METALS / OIL

Gold closed at $1,309.30 an ounce, up $12.10

Silver settled at $17.15 an ounce, up $0.22

Copper finished at $3.30 a pound, down  $0.01

Crude Oil closed at $60.10 a barrel, up $0.26
Bitcoin Investment Trust (GBTC)
settled at $2,016.00, up $79.00

ARTICLE OF THE DAY
What is Swing Trading?

Trading has two extremes. On one end is buy and hold and on the other end is day trading.
 [read more]


Make it a great year!

Todd Mitchell

QUOTE OF THE DAY
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