11-21-2017 Trade of the Day

Bulls Breakout into Blue-Sky Territory

MARKET SUMMARY

U.S. markets made another run to fresh all-time highs on Tuesday with the Nasdaq leading the way after gaining 1.1%. The index is just 2% away from challenging the 7,000 level following today’s dash to 6,862. The Dow and S&P 500 rose 0.7% while clearing 2,600 and 23,600 on their way to record highs before closing slightly below these levels. The Russell 2000 extended its win streak to 4-straight after surging 1% while tapping a lifetime high just south of the 1,520 level.

TRADE OF THE DAY
THE ZEN OF TRADING Part II
ANALYST UPGRADES / DOWNGRADES 

Deere (DE) upgraded to Outperform from Neutral at Baird
T-Mobile (TMUS) upgraded to Buy from Hold at HSBC
Urban Outfitters (URBN) upgraded to Overweight from Neutral at JPMorgan

Alio (ALO) downgraded to Underperform from Outperform at Raymond James
Southwestern Energy (SWN) downgraded to Neutral from Buy at Mizuho
Teradyne (TER) downgraded to Hold from Buy at Deutsche Bank

EARNINGS

Wednesday's scheduled earnings include:

Chemical & Mining (SQM), Deere & Company (DE), Frontline (FRO), SeaDrill (SDRL), StealthGas (GASS)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am

Durable Goods Orders - 8:30am

Jobless Claims - 8:30am

Bloomberg Consumer Comfort Index - 9:45am

Consumer Sentiment - 10:00am

FOMC Minutes - 2:00pm

METALS / OIL

Gold closed at $1,281.70 an ounce, up $6.40

Silver settled at $16.96 an ounce, up $0.12

Copper finished at $3.13 a pound, up $0.04

Crude Oil closed at $57.09 a barrel, up $0.67

ARTICLE OF THE DAY
Limit Orders - A Key Component to Good Entries

A limit order is an order to buy a security at no more than a specific price, or to sell a security at no less than a specific price... [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-20-2017 Trade of the Day

Small-Caps Clear 1,500

MARKET SUMMARY

U.S. markets traded higher across the board with near-term resistance and all-time highs holding. The Russell 2000 showed the most strength after rising 0.7% while clearing the 1,500 level. The Dow gained 0.3% to clear the 23,400 level and is less than 1% away from a record high. The S&P 500 and Nasdaq advanced 0.1% while finishing just below 2,600 and 6,800, respectively, and also remain within striking distance of lifetime highs.

TRADE OF THE DAY
THE ZEN OF TRADING
ANALYST UPGRADES / DOWNGRADES 

3D Systems (DDD) upgraded to Neutral from Underweight at Piper Jaffray
Maxwell (MXWL) upgraded to Buy from Neutral at Roth Capital
National Beverage (FIZZ) upgraded to Positive from Neutral at Susquehanna

Deutsche Bank (DB) downgraded to Underperform from Market Perform at Keefe Bruyette
Five Below (FIVE) downgraded to Hold from Buy at Loop Capital
Monster Beverage (MNST) downgraded to Negative from Neutral at Susquehanna

EARNINGS

Tuesday's scheduled earnings include:

Analog Devices, (ADI), Burlington Stores (BURL), Campbell Soup (CPB), Copart (CPRT), Cracker Barrel Old Country Store (CBRL), Dollar Tree Stores (DLTR), Eaton Vance (EV), GameStop (GME), Hormel Foods (HRL), Hewlett Packard Enterprises (HPE), HP (HPQ), Jacobs Engineering (JEC), Lowe’s (LOW), Medtronic (MDT), Movado Group (MOV), Salesforce (CRM), Signet Jewelers (SIG)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

Chicago Fed National Activity Index - 8:30am
Redbook - 8:56am
Existing Home Sales - 10:00am

METALS / OIL

Gold closed at $1,275.30 an ounce, down $21.20

Silver settled at $16.84 an ounce, down $0.53

Copper finished at $3.09 a pound, up $0.04

Crude Oil closed at $56.23 a barrel, down $0.32

ARTICLE OF THE DAY
How Do You Know If Your System Is Broken?

A 'system health monitor' tells you whether or not your trading system is in a draw down or if it's broken.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-19-2017 Trade of the Day

Small-Caps Showing Strength

MARKET SUMMARY

U.S. markets closed mostly lower on Friday with the Dow and S&P 500 declining 0.4%, and 0.3%, respectively, to post their second-straight weekly loss. The Nasdaq pulled back from Thursday’s all-time high, after giving back 0.2%. For the week, the S&P posted a loss of 0.1%, while the Dow dipped 0.3%. The Nasdaq, however, saw a 0.5% weekly rise.

Meanwhile, the Russell 2000 rallied for the second-straight session after gaining 0.4% but fell shy of clearing the 1,500 level. For the week, the small-caps surged 2%

TRADE OF THE DAY
CHASING TRADES
ANALYST UPGRADES / DOWNGRADES 

Anadarko (APC) upgraded to Outperform from Market Perform at BMO Capital
Intel (INTC) upgraded to Buy from Outperform at Daiwa
Square (SQ) upgraded to Outperform from In Line at Evercore ISI

CarMax (KMX) downgraded to Hold from Buy at Deutsche Bank
Diamondback Energy (FANG) downgraded to Buy from Conviction Buy at Goldman Sachs
Time (TIME) downgraded to Hold from Buy at Gabelli

EARNINGS

Monday's scheduled earnings include:

Agilent Technologies (A), Bitauto Holdings (BITA), Beacon Roofing Supply (BECN), Cubic (CUB), Gazit-Globe (GZT), Intuit (INTU), Palo Alto Networks (PANW), Star Bulk Carriers (SBLK), Urban Outfitters (URBN), Vipshop Holdings (VIPS)

UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

Leading Indicators - 10:00am (EST)

METALS / OIL

Gold closed at $1,296.30 an ounce, up $18.30

Silver settled at $17.37 an ounce, up  $0.30

Copper finished at $3.05 a pound, up $0.02

Crude Oil closed at $56.68 a barrel, up $1.54

ARTICLE OF THE DAY
5 Reasons Why YOU Need to Be Trading Options

Let me give you the advantages why buying an option is much better than buying the underlying asset... [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-16-2017 Trade of the Day

Tech Sets Record High

MARKET SUMMARY

U.S. markets showed strength from the start of Thursday’s open with Wall Street looking for more clarity, and the passage of the tax bill by the House. The bill still needs approval by the Senate but the news was clearly a relief as the Nasdaq surged to an all-time peak north of 6,800. The Dow and S&P 500 snapped 2-session slides and are back within a stone’s throw of record highs after advancing 0.8%. The Russell 2000 had the biggest snap back after rallying 1.6% to clear a strong up-trending 50-day moving average.

TRADING PARABOLICS
ANALYST UPGRADES / DOWNGRADES 

Dollar General (DG) upgraded to Buy from Hold at Deutsche Bank
DSW (DSW) upgraded to Positive from Neutral at Susquehanna
Pandora (P) upgraded to Outperform from Market Perform at BMO Capital

Acorda Therapeutics (ACOR) was downgraded to Hold from Buy at Stifel
Marriott (MAR) downgraded to Market Perform from Outperform at Bernstein
NetEase (NTES) downgraded to Sell from Underperform at CLSA

EARNINGS

Thursday's scheduled earnings include:

Abercrombie & Fitch (ANF), Buckle (BKE), Fang Holdings (SFUN), Footlocker (FL), Hibbett Sports (HIBB), Tat Technologies (TATT)

UPCOMING ECONOMIC NEWS

Friday’s economic reports (EST): 

Housing Starts - 8:30am
E-Commerce Retail Sales - 10:00am
Kansas City Fed Manufacturing Index - 11:00am
Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,278.20 an ounce, up $0.50

Silver settled at $17.07 an ounce, up  $0.12

Copper finished at $3.05 a pound, down $0.01

Brent Crude Oil closed at $61.84 a barrel, up $0.21

ARTICLE OF THE DAY
Exiting An Option Position

You can exit an option position one of three ways. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-15-2017 Trade of the Day

Bears Stay Aggressive

MARKET SUMMARY

U.S. markets showed continued weakness throughout Wednesday with ongoing concerns over tax reforms erasing November gains. The Dow and S&P 500 closed lower for the 4th time in the past 5 sessions but are still just over 1% away from their all-time highs. The Nasdaq fell for the second-straight session but held 6,700 and a key level of support. The Russell 2000 traded in the red for the fourth time in the past five sessions after falling below 1,460 but a level that held into the closing bell.

TRADE OF THE DAY!
FINDING YOUR INNER MORON
ANALYST UPGRADES / DOWNGRADES 

Alaska Air (ALK) upgraded to Strong Buy from Outperform at Raymond James
Tyson Foods (TSN) upgraded to Buy from Hold at Argus
Sangamo (SGMO) upgraded to Overweight from Neutral at Piper Jaffray

Cardinal Health (CAH) downgraded to Hold from Buy at Argus
Johnson Controls (JCI) downgraded to Neutral from Positive at Susquehanna
Snap (SNAP) downgraded to Market Perform from Outperform at JMP Securities

EARNINGS

Thursday's scheduled earnings include:

Applied Materials (AMAT), Berry Plastics Group (BERY), Best Buy (BBY), Gap (GPS), JM Smucker (SJM), Luxoft Holding (LXFT), Manchester United (MANU), Post Holdings (POST), Ross Stores (ROST), Show Carnival (SCVL), Spectrum Brands Holdings (SPB), Splunk (SPLK), Viacom (VIAB), Wal-Mart Stores (WMT), Williams-Sonoma

UPCOMING ECONOMIC NEWS

Thursday’s economic reports (EST): 

Jobless Claims - 8:30am
Philadelphia Fed Business Outlook Survey - 8:30am
Import and Export Prices - 8:30am
Industrial Production - 9:15am
Bloomberg Consumer Comfort Index - 9:45am
Housing Market Index - 10:00am


METALS / OIL

Gold closed at $1,277.70 an ounce, down $5.20

Silver settled at $16.95 an ounce, down $0.11

Copper finished at $3.05 a pound, down $0.02

Brent Crude Oil closed at $61.53 a barrel, down $1.57

ARTICLE OF THE DAY
What is 2-Tier Position Sizing?

Only the best traders are principled enough to... [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-14-2017 Trade of the Day

Small-Caps Continue to Fail 50-Day MA

MARKET SUMMARY

U.S. markets experienced weakness on the open that briefly pushed the major indexes into negative territory for the month before a recovery off the lows. The Dow and S&P 500 fell for the third time in four sessions with the lower highs and lower lows being a slight concern. The Nasdaq saw its 3-session win streak snapped but held 6,700 and a key level of support. The Russell 2000 continues to hold its late September breakout above 1,460 with a close below this level being a ongoing bearish signal.

TRADE OF THE DAY!
FINDING YOUR INNER MORON
ANALYST UPGRADES / DOWNGRADES

Delek US (DK) upgraded to Strong Buy from Outperform at Raymond James
Nvidia (NVDA) upgraded to Market Perform from Underperform at BMO Capital
TD Ameritrade (AMTD) upgraded to Buy from Hold at Deutsche Bank

Boston Beer (SAM) downgraded to Neutral from Positive at Susquehanna
Schlumberger (SLB) downgraded to Buy from Conviction Buy at Goldman Sachs
Sequential Brands (SQBG) downgraded to Neutral from Buy at Roth Capital

EARNINGS

Tuesday's scheduled earnings include:

Advance Auto Parts (AAP), Aramark Holdings (AMRK), Beazer Homes (BZH), Dick’s Sporting Goods (DKS), Home Depot (HD), International Game Technology (IGT), ParkerVision (PRKR), Sorl Auto Parts (SORL), Stratasys (SSYS), Sunworks (SUNW), TJX Companies (TJX), Yirendai (YRD)

UPCOMING ECONOMIC NEWS

Wednesday’s economic reports (EST): 

Mortgage Applications - 7:00am
Consumer Price Index - 8:30am
Retail Sales - 8:30am
Empire State Manufacturing Survey - 8:30am
Atlantic Fed Business Inflation Expectations - 10:00am
Business Inventories - 10:00am


METALS / OIL

Gold closed at $1,282.90 an ounce, up $4.00

Silver settled at $17.07 an ounce, up $0.02

Copper finished at $3.07 a pound, down $0.05

Brent Crude Oil closed at $61.53 a barrel, down $0.25

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

11-13-2017 Trade of the Day

Bulls Hold Near-Term Support

MARKET SUMMARY

U.S. markets traded on both sides of the ledger before closing slightly higher with the Dow and S&P 500 snapping two-session slides. The Nasdaq finished higher for the second-straight session while the Russell 2000 extended its marginal win streak to 3-straight. Although all-time highs are on hold at the moment, the major indexes easily held near-term support on the opening weakness.

TRADE OF THE DAY!
PICKING TOPS AND  BOTTOMS
ANALYST UPGRADES / DOWNGRADES

Delek US (DK) upgraded to Strong Buy from Outperform at Raymond James
Nvidia (NVDA) upgraded to Market Perform from Underperform at BMO Capital
TD Ameritrade (AMTD) upgraded to Buy from Hold at Deutsche Bank

Boston Beer (SAM) downgraded to Neutral from Positive at Susquehanna
Schlumberger (SLB) downgraded to Buy from Conviction Buy at Goldman Sachs
Sequential Brands (SQBG) downgraded to Neutral from Buy at Roth Capital

EARNINGS

Tuesday's scheduled earnings include:

Advance Auto Parts (AAP), Aramark Holdings (AMRK), Beazer Homes (BZH), Dick’s Sporting Goods (DKS), Home Depot (HD), International Game Technology (IGT), ParkerVision (PRKR), Sorl Auto Parts (SORL), Stratasys (SSYS), Sunworks (SUNW), TJX Companies (TJX), Yirendai (YRD)

UPCOMING ECONOMIC NEWS

Tuesday’s economic reports (EST): 
NFIB Small Business Optimism Index - 6:00am
PPI-FD - 8:30am
Redbook - 8:55am


METALS / OIL

Gold closed at $1,278.90 an ounce, up $4.70

Silver settled at $17.05 an ounce, up $0.18

Copper finished at $3.12 a pound, up $0.04

Brent Crude Oil closed at $63.60 a barrel, down $0.25

ARTICLE OF THE DAY
Understanding CALL Options - As In Our TSLA TradeClick to replace anchor text

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

11-12-2017 Trade of the Day

Bears Snap Bull's Winning Streaks

MARKET SUMMARY

U.S. markets were weak throughout Friday with the Dow and S&P 500 finishing in the red for the second-straight session. Both indexes ended the week lower for the first time in 9 weeks. The Nasdaq held near-term support before making a late day run into positive territory by nearly a point but had its 6-week winning streak snapped. The Russell 2000 also closed slightly higher by a quarter-point but finished the week with nearly a 2% loss while holding its 50-day moving average.

TRADE OF THE DAY!
THE OPINION TRAP
ANALYST UPGRADES / DOWNGRADES

CVS Health (CVS) upgraded to Buy from Hold at Needham
Hyatt (H) upgraded to Buy from Hold at Berenberg
Kohl's (KSS) upgraded to Outperform from Neutral at Baird

Marathon Oil (MRO) downgraded to Neutral from Buy at Citi
MetLife (MET) downgraded to Hold from Buy at Sandler O'Neill
Johnson Controls (JCI) downgraded to Hold from Buy at Vertical Research

EARNINGS

Monday's scheduled earnings include:

Famous Daves of America (DAVE), JD.com (JD), Luna Innovations (LUNA), Switch (SWCH), Tyson Foods (TSN), WideOpenWest (WOW)

UPCOMING ECONOMIC NEWS

Monday’s economic reports (EST):

4-Week Bill Announcement - 11:00am
3-month and 6-month Bill Auction - 11:30am
Treasury Budget - 2:00pm

METALS / OIL

Gold closed at $1,274.30 an ounce, down $13.30

Silver settled at $16.87 an ounce, down $0.11

Copper finished at $3.08 a pound, down $0.01

Brent Crude Oil closed at $63.60 a barrel, down $0.25

ARTICLE OF THE DAY
Bear Call 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

11-09-2017 Trade of the Day

Bears Growl Over Tax Uncertainty

MARKET SUMMARY

U.S. markets closed lower across the board for the first time in eight trading sessions following uncertainty over the Senate tax bill which proposed delaying the long-sought corporate tax cuts until 2019. The Dow and S&P 500 held near-term support from mid-October on the intraday lows while recouping half their losses into the close. The Nasdaq held beginning of the month support after taking the hardest hit and briefly falling below the 6,700 level. Meanwhile, the Russell 2000 held 1,460 on its low and a level that served as prior resistance from the late September breakout.

TRADE OF THE DAY!
THE SCIENCE OF WINNING - PART 6
ANALYST UPGRADES / DOWNGRADES

Cabot Oil & Gas (COG) upgraded to Buy from Hold at Drexel Hamilton
Square (SQ) upgraded to Buy from Neutral at Guggenheim
T-Mobile (TMUS) upgraded to Buy from Hold at Deutsche Bank

Meet Group (MEET) was downgraded to Hold from Buy at Canaccord
Snap (SNAP) downgraded to Underweight from Equal Weight at Morgan Stanley
Square (SQ) downgraded to Neutral from Buy at Citi

EARNINGS

Friday's scheduled earnings include:

Arcelor Mittal (MT), JC Penney (JCP)

UPCOMING ECONOMIC NEWS

Friday’s economic reports (EST):

Consumer Sentiment - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,287.50 an ounce, up $3.80

Silver settled at $16.98 an ounce, down $0.16

Copper finished at $3.09 a pound, down $0.01

Brent Crude Oil closed at $63.48 a barrel, down $0.21

ARTICLE OF THE DAY
Equity Option Prices

There are seven main components that affect the premium of an option, these are...[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-08-2017 Trade of the Day

Small-Caps Hold 50-Day MA

MARKET SUMMARY

U.S. markets closed with slight gains on Wednesday following a weak open and a tight trading range throughout the session. The major indexes failed to trip new all-time highs although the Dow was able to stretch its winning streak to 8-straight sessions. The S&P 500 made another run at the 2,600 level while the Nasdaq continues to seek 6,800. The Russell 2000 was underwater for much of the session with the 50-day moving average holding before rebounding into the closing bell.

TRADE OF THE DAY!
THE SCIENCE OF WINNING - PART 5
ANALYST UPGRADES / DOWNGRADES

Andersons (ANDE) downgraded to Neutral from Buy at Buckingham
Scotts Miracle-Gro (SMG) downgraded to Neutral from Overweight at JPMorgan
Townsquare Media (TSQ) downgraded to Equal Weight from Overweight at Stephens

Hain Celestial (HAIN) upgraded to Outperform from Market Perform at Bernstein
Take-Two (TTWO) upgraded to Outperform from Neutral at Baird
Welltower (HCN) upgraded to Overweight from Equalweight at Capital One

EARNINGS

Thursday's scheduled earnings include:

AstraZenca (AZN), Brooks Automation (BRKS), Canada Goose Holdings (GOOS), Canadian Solar (CSIQ), Camping World (CWH), DineEquity (DIN), Dish Network (DISH), Fly Leasing (FLY), Hertz (HTZ), Himax Holdings (HIMX), Johnson Controls (JCN), Kohl’s (KSS), Macy’s (M), Noodles & Company (NDLS), Nvidia (NVDA), Party City (PRTY), QVC Group (QVCA), Time (TIME), Trade Desk (TTD), Vista Outdoor (VSTO), Walt Disney (DIS)

UPCOMING ECONOMIC NEWS

Thursday’s economic reports (EST):

Jobless Claims - 8:30pm
Bloomberg Consumer Comfort Index - 9:45am
Wholesale Trade - 10:00am
Fed Balance Sheet - 4:30pm
Money Supply - 4:30pm

METALS / OIL

Gold closed at $1,283.70 an ounce, up $7.90

Silver settled at $17.14 an ounce, up $0.20

Copper finished at $3.10 a pound, up $0.01

Brent Crude Oil closed at $63.69 a barrel, down $0.42

ARTICLE OF THE DAY
What's a Covered Put?

In a covered put strategy, you are selling the underlying stock and selling a put option against it. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY
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