02-22-2018 Trade of the Day

Near-Term Resistance Levels Continue to Hold

MARKET SUMMARY

U.S. markets continued this week’s pattern of trading higher into the afternoon before experiencing final hour weakness to settle mixed on Thursday. Traders continue to watch the action in the 10-year note as it inches closer to a 3% yield before deciding to commit new money or bail on a possible market pullback, if triggered.

The Dow gained 0.6% after holding positive territory throughout the session while testing a high of 25,156. Resistance at 25,000 held for the third-straight session.

The S&P 500 climbed 0.1% after reaching an intraday peak of 2,731 before sliding below 2,700 late in the day. The index held this level for the fifth-straight session despite the final hour fade.

The Nasdaq gave back 0.1% to extend its losing streak to 4-straight sessions and its longest since November 2016. The index held the 7,200 level for the 5th-straight session following a backtest to 7,194.

The Russell 2000 also slipped 0.1% after testing 1,548 while failing its 50-day moving average for a 4th-straight session.

TRADE OF THE DAY

TOLERATING UNCERTAINTY
ANALYST UPGRADES / DOWNGRADES 

Clovis (CLVS) was upgraded to Outperform from In Line at Evercore ISI
Palo Alto Networks (PANW) upgraded to Buy from Neutral at Cleveland Research
Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson

Cheesecake Factory (CAKE) downgraded to Market Perform from Outperform at Telsey
First Solar (FSLR) downgraded to Hold from Buy at Miller Tabak
Macquarie Infrastructure (MIC) was downgraded to Neutral from Overweight at JPMorgan

EARNINGS

Friday's scheduled earnings include: 
AdvanSix (ASIX), Cabot Oil & Gas (COG), Cinemark (CNK), Eversource Energy (ES), Huntsman (HUN), LifePoint Hospitals (LPNT), Pinnacle Entertainment (PNK), Potbelly (PBPB), Royal Bank of Canada (RY), TC PipeLines (TCP), Venator Materials (VNTR), WP Carey (WPC)

UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

​Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,332.70 an ounce, up $0.60

Silver settled at $16.59 an ounce, down $0.03

Copper finished at $3.24 a pound, up $0.03

Crude Oil closed at $62.68 a barrel, up $1.01

Bitcoin Investment Trust (GBTC) settled at $16.92, down  $0.94

Article of the Day
How Options Work

Options are the most versatile trading instrument ever invented... [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

02-21-2018 Trade of the Day

Small-Caps Close Slightly Up

MARKET SUMMARY

U.S. markets traded in positive territory during the first half of Wednesday’s action but in a tight range ahead of the Fed minutes. The indexes gained strength heading into the news and traded significantly higher following dovish statements made by the Fed. However, volatility returned as the major indexes gave up their gains to finish mostly in the red.

The Dow declined 0.7% after testing an intraday peak of 25,267 before closing below the 25,000 for the second-straight session. The S&P 500 slipped 0.6% after racing to a high of 2,747 and was able to hold the 2,700 level for the fourth-straight session despite the late day weakness.

The Nasdaq dipped 0.2% despite testing an intraday high of 7,338 to extend its losing streak to 3-straight sessions. The index has been holding the 7,200 level for 4-straight sessions and is just over 1% above its 50-day moving average.

Bucking the trend was the Russell 2000 after rising 0.1% while trading to a high of 1,555. However, resistance at 1,550 and the 50-day moving average continues to be a stickler and levels that failed to hold into the closing bell.

TRADE OF THE DAY

TOLERATING UNCERTAINTY
ANALYST UPGRADES / DOWNGRADES 

Mosaic (MOS) upgraded to Overweight from Neutral at JPMorgan
Finish Line (FINL) upgraded to Neutral from Underperform at Buckingham
Palo Alto Networks (PANW) upgraded to Positive from Neutral at Susquehanna

BHP Billiton (BHP) downgraded to Neutral from Buy at Citi
Capital One (COF) downgraded to Neutral from Buy at Nomura Instinet
Regeneron (REGN) downgraded to Hold from Buy at Canaccord

EARNINGS

Thursday's scheduled earnings include: 
Before the open:  ACI Worldwide (ACIW), Apache (APA), Bloomin’ Brands (BLMN), Chesapeake Energy (CHK), Gibralta Industries (ROCK), Gildan Activewear (GIL), Gogo (GOGO), Hormel Foods (HRL), Lending Tree (TREE), Newmont Mining (NEM), Sanderson Farms (SAFM), Shutterstock (SSTK), Tempur Sealy (TPX), Toro (TTC), Unit (UNT), Wayfair (W), Zebra Technologies (ZBRA)
After the close: Air Lease (AL), BJ’s Restaurants (BJRI), Edison International (EIX), Exact Sciences (EXAS), First Solar (FSLR), GoDaddy (GDDY), HerbaLife (HLF), Hewlett Packard Enterprises (HPE), HP (HPQ), Intuit (INTU), KBR (KBR), MercadoLibre (MELI), Nordson (NDSN), Planet Fitness (PLNT), Redfin (RDFN), Trade Desk (TTD), Wingstop (WING), Zoe’s Kitchen (ZOES)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Jobless Claims - 8:30am
Bloomberg Consumer Comfort Index - 9:45am
Leading Indicators - 10:00am
Kansas Fed Manufacturing Index - 11:00am

METALS / OIL

Gold closed at $1,332.10 an ounce, up $0.90

Silver settled at $16.62 an ounce, up $0.18

Copper finished at $3.21 a pound, up $0.02

Crude Oil closed at $61.29 a barrel, down $0.50

Bitcoin Investment Trust (GBTC) settled at $17.86, down  $2.13

Article of the Day
20 Survival Skills for the Trader

The first rule to trading survival is, "Know the difference between trading and investing."  [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

02-20-2018 Trade of the Day

Bears Make an Appearance

MARKET SUMMARY

U.S. markets showed continued momentum during Tuesday’s session before losing steam and pulling back for the first time in seven sessions. The lackluster action comes ahead of tomorrow’s FOMC minutes and a number of key economic reports as traders seemed tentative ahead of the news.

The Dow fell 1% after trading in negative territory throughout the session while testing a low of 24,926 and closing back below the 25,000 level. The Russell 2000 declined 0.9% after failing resistance at 1,550 and the 50-day moving average for the second-straight session.

The S&P 500 stumbled 0.6% despite showing midday strength while holding the 2,700 level for the third-straight session. Meanwhile, the Nasdaq slipped 0.1% to extend its losing streak to 2-straight sessions. The index has been holding the 7,200 level for 3-straight sessions following last week’s 5.3% surge and best weekly percentage gain since December 2011.

TRADE OF THE DAY

FIND YOUR TREND FOLLOWING MORON
ANALYST UPGRADES / DOWNGRADES 

Chipotle (CMG) upgraded to Hold from Sell at Stifel
Flowserve (FLS) upgraded to Sector Perform from Underperform at RBC Capital
Universal Display (OLED) upgraded to Buy from Hold at Needham

Snap (SNAP) downgraded to Sell from Neutral at Citi
Teck Resources (TECK) downgraded to Neutral from Outperform at Macquarie
Wingstop (WING) downgraded to Neutral from Outperform at Baird

EARNINGS

Wednesday's scheduled earnings include: 
Before the open:  Advance Auto Parts (AAP), Avista (AVA), Delphi Automotive (DLPH), DISH Network (DISH), Garmin (GRMN), Innophos (IPHS), Owens Corning (OC), Ruth’s Hospitality Group (RUTH), Tile Shop Holdings (TTS), United Therapeutics (UTHR), Vonage Holdings (VG), Wex (WEX)
After the close: Alleghany (Y), Avis Budget Group (CAR), Boston Beer Company (SAM), Cheesecake Factory (CAKE), Cyrus One (CONE), Five9 (FIVN), Green Dot (GDOT), Interface (TILE), Jack in the Box (JACK), Kaiser Aluminum (KALU), Life Storage (LSI), Masonite International (DOOR), Pandora Media (P), Quidel (QDEL), Roku (ROKU), SandRidge Energy (SD), Sun Communities (SUI), Sunoco (SUN), Trex (TREX), Ultra Clean Holdings (UCTT), Wendy’s (WEN)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
Redbook - 8:55am
PMI Composite Flash - 10:00am
Existing Home Sales - 10:00am
FOMC Minutes - 2:00pm

METALS / OIL

Gold closed at $1,331.20 an ounce, down $25.00

Silver settled at $16.44 an ounce, down $0.27

Copper finished at $3.19 a pound, down $0.06

Crude Oil closed at $61.77 a barrel, up $0.09

Bitcoin Investment Trust (GBTC) settled at $19.99, up  $2.23

Article of the Day
The What, When and How of Bear Call Spreads

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

02-18-2018 Trade of the Day

Bulls Post Strong Weekly Gains

MARKET SUMMARY

U.S. markets traded mostly higher for a 6th-straight session following Friday’s gains with the major indexes continuing their v-shape recovery. It was the second-straight up Friday for the Dow and S&P 500 and showed cash is still coming back into the market and off the sidelines. More importantly, the slight overall gains came ahead of a 3-day holiday weekend as Wall Street will be closed on Monday for President’s Day.

The Russell 2000 climbed 0.4% and showed the most strength after trading to a midsession high of 1,551. The small-caps closed just 4 points below its 50-day moving average after rallying 4.4% for the week.

The Dow climbed 0.1% after testing a high of 25,432 while the S&P 500 added a point, or 0.04% after reaching an intraday peak of 2,754. For the week, the Dow rose 4.3% to post its biggest one-week percentage rise since November 2016. The S&P 500 also gained 4.3% for its best week since January 2013.

The Nasdaq showed strength throughout the first half of action while testing a top of 7,303 before turning south to finish 0.2% lower on the close. The index easily held the 7,200 level on the pullback while closing above its 50-day moving average for the third-straight session. The Nasdaq ended up 5.3% in its best weekly percentage gain since December 2011.

​Utilities showed continued strength with the sector rising 0.9% while Health Care and Real Estate added 0.7%. Consumer Discretionary and Materials led sector laggards after giving back 0.5% and 0.4%, respectively.

All major sectors closed in positive territory for the week and were led by Technology’s 5.8% surge. Financials and Industrials rallied 4.7% while Consumer Discretionary and Health Care soared 4%.

TRADE OF THE DAY

PICKING TOPS AND BOTTOM
ANALYST UPGRADES / DOWNGRADES 

Fortis (FTS) was upgraded to Sector Perform from Underperform at National Bank
Huntington Ingalls (HII) upgraded to Outperform from Neutral at Credit Suisse
Waste Management (WM) upgraded to Outperform from Market Perform at Raymond James

Allison Transmission (ALSN) was downgraded to Sector Perform at RBC Capital
Biogen (BIIB) downgraded to Hold from Buy at Argus
Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Jefferies

EARNINGS

Market closed on Monday for President’s Day.

Tuesday's scheduled earnings include: 
Before the open: Allegion (ALLE), Cooper Tire & Rubber (CTB), Cracker Barrel (CBRL), DineEquity (DIN), Domino’s (DPZ), Energen (EGN), Gannett (GCI), Home Depot (HD), Medtronic (MDT), MGM Resorts (MGM), Noble Energy (NBL), Six Flags (SIX), Wal-Mart Stores (WMT)
After the close: American Water Works (AWK), Boyd Gaming (BYD), Cardtronics (CATM), Devon Energy (DVN), Fluor (FLR), Halozyme Therapeutics (HALO), La-Z-Boy (LZB), Public Storage (PSA), Rent-A-Center (RCII), TherapeuticsMD (TXMD), Vectren (VVC)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

No major reports.

METALS / OIL

Gold closed at $1,353.20 an ounce, up $0.90

Silver settled at $16.71 an ounce, down $0.09

Copper finished at $3.25 a pound, up $0.01

Crude Oil closed at $61.61 a barrel, down $0.17

7Bitcoin Investment Trust (GBTC) settled at $17.66, down  $0.08

Article of the Day
The What, When and How of Covered Calls

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

02-15-2018 Trade of the Day

Bulls Trample 50-Moving Averages

MARKET SUMMARY

U.S. markets remained strong and in rebound mode after extending their winning streak to 5-straight sessions. Today’s gains were a continued bullish sign as the major indexes cleared their 50-day moving averages, for the most part. This follows Wednesday’s battle fighting to get back into positive territory for the year with the small-caps rejoining the major indexes following today’s gains.

The The Nasdaq once again led the way higher after soaring 1.6% after closing a half-point of its late session high of 7,256 while easily clearing and holding its 50-day moving average.

The S&P 500 rose 1.2% after racing to a late session high of 2,731 while closing above the 2,700 level for the first time in 9 sessions. The Dow also advanced 1.2% after reaching an intraday peak of 25,203. Both indexes held their 50-day moving averages by 8 and 50 points, respectively.

The Russell 2000 gained 1% after testing a high of 1,537 while falling 10 points shy of its 50-day moving average. The index is back in positive territory by 2 points for 2018.

TRADE OF THE DAY

THE OPINION TRAP
ANALYST UPGRADES / DOWNGRADES 

E

EARNINGS

Friday's scheduled earnings include: 

Before the open: A

After the close: A

UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

C

METALS / OIL

Gold closed at $1,355.30 an ounce, down $2.70

Silver settled at $16.88 an ounce, up $0.35

Copper finished at $3.23 a pound, up $0.07

Crude Oil closed at $60.81 a barrel, down $0.21

Bitcoin Investment Trust (GBTC) settled at $16.44, up $2.05

Article of the Day
5 Reasons Why Stock Option Trading is Perfect for You

Number One…You can purchase a stock option for a fraction of the cost of buying the underlying stock...which means you can start trading stock options with a much smaller amount of money. Number Two…You can make money trading stock... [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

02-14-2018 Trade of the Day

Bulls Stay Strong

MARKET SUMMARY

U.S. markets traded higher despite worry over inflation fears and weaker-than-expected economic news to extend its winning streak to 4-straight sessions. The continued follow through remains a bullish signal as the 50-day moving averages for the major indexes are back in play.

The Nasdaq showed the strongest gains after zooming 1.9% and trading to an intraday high of 7,152 while closing back above its 50-day moving average.

​The Russell 2000 rallied 1.8% after making a run to 1,523 to close back above the 1,500 level for the first time in five sessions. The index is less than 2% away from its 50-day moving average.

The S&P 500 surged 1.3% after trading to a high of 2,702 while closing just below the 2,700 level. The Dow jumped 1% after testing n intraday peak of 24,925. With today’s gains, both indexes pulled within 1% of their 50-day moving averages.

THE SCIENCE OF WINNING - PART 6
ANALYST UPGRADES / DOWNGRADES 

Emerson Electric (EMR) upgraded to Outperform from Sector Perform at RBC Capital
Generac (GNRC) upgraded to Buy from Hold at SunTrust
Northrop Grumman (NOC) upgraded to Buy from Hold at Jefferies

Avis Budget (CAR) downgraded to Sell from Neutral at Goldman Sachs
Chimerix (CMRX) downgraded to Underweight from Neutral at JPMorgan
Lexicon (LXRX) downgraded to Underweight from Neutral at JPMorgan

EARNINGS

Thursday's scheduled earnings include: 

Before the open: Aaron’s (AAN), Build-A-Bear Workshop (BBW), CyberArk (CYBR), Fortis (FTS), Global Payments (GPN), Materion (MTRN), Nice Systems (NICE), Pool (POOL), Sonoco (SON), TreeHouse Foods (THS), Zoetis (ZTS)

After the close: Arista Networks (ANET), CBS (CBS), Cray (CRAY), Flowserve (FLS), LogMeIn (LOGM), MuleSoft (MULE), Shake Shack (SHAK), TrueCar (TRUE)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Chain Store Sales - 7:00am
Jobless Claims - 8:30am
Bloomberg Consumer Comfort Index - 9:45am

METALS / OIL

Gold closed at $1,358.00 an ounce, up $27.60

Silver settled at $16.88 an ounce, up $0.35

Copper finished at $3.23 a pound, up $0.07

Crude Oil closed at $60.81 a barrel, down $0.21

Bitcoin Investment Trust (GBTC) settled at $16.44, up $2.05

Article of the Day
Day Trading and Discipline - a Worthy Duo

If you are a potential day trader, there are rules you need to know to succeed... [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

02-13-2018 Trade of the Day

Bulls Continue Win Streak

MARKET SUMMARY

U.S. markets traded higher for a third-straight session after showing late afternoon strength following first half weakness. The action remains slightly bullish as the major indexes continue to push near-term resistance levels.

The Nasdaq gained 0.5% after testing to an intraday high of 7,025 while closing back above the 7,000 level for the first time in four sessions. The Russell 2000 advanced 0.3% after testing a high of 1,494 while failing near-term resistance at 1,500.

The S&P 500 rose 0.3% after making a run to 2,668 but the lower high than Monday’s 2,672 print was a slightly bearish development. The Dow added 0.2% after trading up to 24,705 but remains over 1% away from clearing its 50-day moving average.

TRADE OF THE DAY

THE SCIENCE OF WINNING - PART 5
ANALYST UPGRADES / DOWNGRADES 

Boeing (BA) upgraded to Buy from Hold at Edward Jones
JPMorgan (JPM) upgraded to Outperform from Market Perform at Keefe Bruyette
Quest Diagnostics (DGX) upgraded to Outperform from Neutral at

Credit SuisseBP (BP) downgraded to Equal Weight from Overweight at Morgan Stanley
Eversource (ES) downgraded to Equal Weight from Overweight at Morgan Stanley
Validus (VR) downgraded to Neutral from Buy at Buckingham

EARNINGS

Wednesday's scheduled earnings include: 

Before the open: Bunge (BG), Cedar Fair Entertainment (FUN), CMS Energy (CMS), Dr Pepper Snapple Group (DPS), Groupon (GRPN), Interpublic Group (IPG), Molson Coors Brewing (TAP), Owens & Minor (OMI), Photronics (PLAB), Shire (SHPG), SodaStream International (SODA), Terex (TEX), Wyndham Worldwide (WYN)

After the close: Applied Materials (AMAT), Barrick Gold (ABX), Chemours (CC), Cisco Systems (CSCO), Equinix (EQIX), Goldcorp (GG), Hyatt Hotels (H), Marriott International (MAR), NetApp (NTAP), SolarEdge Technologies (SEDG), TripAdvisor (TRIP), Waste Connections (WCN)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

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

METALS / OIL

Gold closed at $1,330.40 an ounce, up $4.00

Silver settled at $16.53 an ounce, down $0.04

Copper finished at $3.16 a pound, up $0.08

Crude Oil closed at $59.19 a barrel, down $0.10

Bitcoin Investment Trust (GBTC) settled at $14.39, down $0.48

Article of the Day
How to Avoid Mistakes Beginning Traders Make

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

02-12-2018 Trade of the Day

Market Surges for 2nd-Straight Session

MARKET SUMMARY

U.S. markets showed strength for a 2nd-straight session following its worst two-week performance in more than two years. The indexes traded higher throughout the session following some early morning volatility but closed near session highs while pushing short-term resistance levels.

The Dow rallied 1.7% after testing a high of 24,765 and temporarily regaining positive territory for the year. The S&P 500 soared 1.4% after tapping an intraday high of 2,672 and coming within a point of returning to positive territory for 2018.

The Nasdaq jumped 1.6% after trading to an intraday high of 7,023 while closing just below the 7,000 level. The index is back in positive for the year after closing above 6,903.

The Russell 2000 was slightly weak on the open after testing a low of 1,466 before regaining its footing to push 1,500. The index gained 0.9% but needs to clear 1,535 to get back into positive territory for the year.

TRADE OF THE DAY

THE SCIENCE OF WINNING - PART 4
ANALYST UPGRADES / DOWNGRADES 

Cisco Systems (CSCO) upgraded to Buy from Neutral at Nomura Instinet
Teva (TEVA) upgraded to Outperform from Neutral at Credit Suisse
VF Corp (VFC) upgraded to Buy from hold at Stifel

EQT Midstream (EQM) and EQT GP (EQGP) downgraded to Sector Perform from Outperform at RBC Capital
Natural Grocers (NGVC) downgraded to Underweight from Equal Weight at Barclays
Tallgrass Energy GP (TEGP) downgraded to Equal Weight from Overweight at Barclays

EARNINGS

Tuesday's scheduled earnings include: 

Before the open: Aircastle (AYR), Blue Apron (APRN), Charles River Laboratories (CRL), Generac Holdings (GNRC), Himax Technologies (HIMX), LouisianaPacific (LPX), PepsiCo (PEP), Sina (SINA), Tower International (TOWR), Under Armour (UAA)

After the close: (BIDU), Carbonite (CARB), Davita (DVA), Denny’s (DENN), Fossil (FOSL), HubSpot (HUBS), Lattice Semiconductor (LSCC), Metlife (MET), Omega Healthcare (OHI), Retail Properties of America (RPAI), Tanger Factory Outlet (SKT), Twilio (TWLO), Western Union (WU)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

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

METALS / OIL

Gold closed at $1,326.40 an ounce, up $10.70

Silver settled at $16.57 an ounce, up $0.43

Copper finished at $3.08 a pound, up $0.04

Crude Oil closed at $59.29 a barrel, up $0.24

Bitcoin Investment Trust (GBTC) settled at $14.87, up $0.53

Article of the Day
What Affects Equity Option Prices?

Option pricing is based on a variety of factors...  [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

02-11-2018 Trade of the Day

Last call  for my Free eBook: 7 Habits That Kill Your E-Mini Futures Trading Success

Whipsaw Action Continues

MARKET SUMMARY

U.S. markets showed continued weakness throughout Friday’s session while setting fresh 2018 lows before surging into positive territory ahead of the closing bell. The whipsaw action in the final hour of trading wrapped up a volatile week with heavy weekly losses not seen in two years.

The Dow jumped 1.4% to after testing a low of 23,360 while closing back above the 24,000 level. The S&P 500 soared 1.5% to reclaim the 2,600 level after tumbling to an intraday low of 2,532 and breaching its 200-day moving average. For the week, both indexes fell 5.2% to post their worst losses since January 2016.

The Nasdaq was higher by 1.4% after trading down to 6,630 and within 1% of its 200-day moving average. The rebound past 6,900 and close just below this level was slightly bullish but the lower highs and lower lows throughout the week remain a bearish signal.

The Russell 2000 gained 1% after tapping an intraday low of 1,436 and September support. The index fell below its 200-day moving average for the first time since August before holding this level into the closing bell.

The Nasdaq finished the week 5.1% lower, representing its worst week since early February of 2016, while the small-caps gave back 4.5%.

THE SCIENCE OF WINNING - PART 3
ANALYST UPGRADES / DOWNGRADES 

iRobot (IRBT) upgraded to Outperform from Market Perform at Raymond JamesUnited Technologies (UTX) upgraded to Buy from Hold at ArgusWolverine

World Wide (WWW) downgraded to Hold from Buy at Pivotal Research

EARNINGS

Monday's scheduled earnings include: 

Before the open: Boardwalk Property Pipeline (BWP), First Data (FDC), Insperity (NSP), Loews (L), Restaurant Brands International (QSR)

After the close: Arch Capital Group (ACGL), Brighthouse Financial (BHF), Chegg (CHGG), Danaos (DAC), FMC (FMC), Luminex (LMNX), Otter Tail (OTTR), Ring Central (RNG), Veeco Instruments (VECO), Vipshop Holdings (VIPS), Watts Industries (WTS)

UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

Treasury Budget - 2:00pm

METALS / OIL

Gold closed at $1,315.70 an ounce, down $3.30

Silver settled at $16.14 an ounce, down $0.20

Copper finished at $3.04 a pound, down $0.04

Crude Oil closed at $59.05 a barrel, down $2.10

Bitcoin Investment Trust (GBTC) settled at $14.34, up $0.40

Article of the Day
Exiting an Option Position

There are three methods that can be used to make a profit or avoid loss.  [read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

02-08-2018 Trade of the Day

Check it out! My Free eBook: 7 Habits That Kill Your E-Mini Futures Trading Success

Fresh 2018 Lows in Play

MARKET SUMMARY

U.S. markets traded to the downside for the second-straight session with heavier losses and a backtest towards Tuesday’s monthly and 2018 lows. Some of these levels were breached into the closing bell and likely signals additional weakness and a steeper correction in the coming sessions.

The Dow dropped 4.2% after testing a low of 23,849 while closing below the 24,000 for the first time since late November. The index held its previous session low of 23,778 with risk to 23,500-23,000 on continued selling pressure. The S&P 500 sank 3.8% after testing a fresh 2018 low of 2,580 to get November support levels in play.

The Nasdaq tanked 3.9% while tapping a 2018 low of 6,776 with early December support levels holding. The Russell 2000 gave back 2.9% after bottoming at 1,463 but was able to hold its 200-day moving average and Tuesday’s low of 1,461.

TRADE OF THE DAY

THE SCIENCE OF WINNING - PART 2
ANALYST UPGRADES / DOWNGRADES 

Anadarko (APC) upgraded to Outperform from Neutral at Macquarie
Just Energy (JE) was upgraded to Outperformer from Neutral at CIBC
Molson Coors (TAP) upgraded to Hold from Sell at Berenberg

Allison Transmission (ALSN) downgraded to Neutral from Buy at BofA/Merrill
Cosan (CZZ) downgraded to Neutral from Buy at UBS
Enanta (ENTA) downgraded to Neutral from Overweight at JPMorgan

EARNINGS

Friday's scheduled earnings include: 

BGC Partners (BGCP), Cae (CAE), CBOE Holdings (CBOE), Loews (L), Malibu Boats (MBUU), Moody’s (MCO), Tenneco (TEN), Ventas (VTR)

UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

Wholesale Trade - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,319.00 an ounce, up $4.40

Silver settled at $16.34 an ounce, up $0.10

Copper finished at $3.08 a pound, unchanged

Crude Oil closed at $60.42 a barrel, down $1.37

Bitcoin Investment Trust (GBTC) settled at $13.94, up $0.26

CALL OPTIONS
Bear Put Spread

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
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