12-10-2017 Trade of the Day

Dow/ S&P 500 Up 3-Straight Weeks

MARKET SUMMARY

U.S. markets ended the week with upside momentum with the S&P 500 and Dow gaining 0.6% and 0.5% while settling at record closing levels. Although fresh all-time highs weren’t reached, the moves turned the S&P 500 and Dow positive for the week, with both advancing 0.4%

The Nasdaq Composite was up 0.4% but ended with a weekly decline of 0.1%. The Russell 2000 added a point on Friday, or 0.1%, but also closed the week with a loss of just over 1%.

TRADE OF THE DAY
THE SCIENCE OF WINNING - PART 4
ANALYST UPGRADES / DOWNGRADES 

Boston Scientific (BSX) upgraded to Strong Buy from Buy at Needham
Perrigo (PRGO) upgraded to Buy from Hold at Argus
Vantiv (VNTV) upgraded to Buy from Neutral at Buckingham

Ball Corp. (BLL) downgraded to Underweight from Sector Weight at KeyBanc
Ciena (CIEN) downgraded to Neutral from Overweight at Piper Jaffray
HollyFrontier (HFC) downgraded to Underperform from Neutral at BofA/Merrill

EARNINGS

Monday's scheduled earnings include: 
Casey’s General Stores (CASY), Investors Real Estate Trust (IRET), Liberty Tax (TAX), KMG Chemicals (KMG), Peregrine Pharmaceuticals (PPHM), Quanex Building Products (NX)


UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

JOLTS - 10:00am

METALS / OIL

Gold closed at $1,248.40 an ounce, down $4.70

Silver settled at $15.82 an ounce, up $0.02

Copper finished at $2.98 a pound, up $0.01

Crude Oil closed at $57.34 a barrel, up $0.64

ARTICLE OF THE DAY
Put Options - What You Need to Know...

Put options give the buyer the right, but not the obligation, to sell an underlying asset at the strike price...[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

12-07-2017 Trade of the Day

Russell 2000 Leads Bullish Rebound

MARKET SUMMARY

U.S. markets showed strength throughout Thursday’s session to end multi-session losing streaks ahead of a key budget deal to keep the government running. The Russell 2000 led the way higher after gaining 0.8% while the S&P 500 added 0.3% with both indexes snapping four-session losing streaks. The Dow closed in the green for the first time in six sessions after climbing 0.3% and the Nasdaq rose for the second-straight session after advancing 0.5%.

TRADE OF THE DAY
THE SCIENCE OF WINNING - PART 3
ANALYST UPGRADES / DOWNGRADES 

AK Steel (AKS) upgraded to Overweight from Neutral at JPMorgan
Lululemon (LULU) upgraded to Hold from Sell at Canaccord
Shake Shack (SHAK) upgraded to Equal Weight from Underweight at Morgan Stanley

Priceline (PCLN) downgraded to Neutral from Buy at MKM Partners
Toll Brothers (TOL) downgraded to Outperform from Strong Buy at Raymond James
Yelp (YELP) downgraded to Underweight from Neutral at Piper Jaffray

EARNINGS

Friday's scheduled earnings include: 
Johnson Outdoors (JOUT)


UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

Employment Report - 8:30am
Consumer Sentiment - 10:00am
Wholesale Trade - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,253.10 an ounce, down $13.00

Silver settled at $15.80 an ounce, down $0.15

Copper finished at $2.96 a pound, unchanged

Crude Oil closed at $56.61 a barrel, up $0.65

ARTICLE OF THE DAY
How to Avoid Making Trading 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...[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

12-06-2017 Trade of the Day

Dow Down 5-Straight

MARKET SUMMARY

U.S. markets continued their recent pattern of showing strength on the open and weakness afterwards to close Wednesday’s session mixed. The Nasdaq gained 0.2% to snap a three-session slide while the S&P 500 slipped a third-point, or 0.01%. The Dow declined 0.2% while closing in the red for the fifth-straight session. The Russell 2000 extended its losing streak to four-straight after sinking another 1.5% while holding the 1,500 level.

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

Carnival (CCL) upgraded to Equal Weight from Underweight at Morgan Stanley
Express Scripts (ESRX) upgraded to Market Perform from Underperform at Bernstein
L3 Technologies (LLL) upgraded to Outperform from Sector Perform at RBC Capital

AutoZone (AZO) downgraded to Neutral from Buy at Guggenheim
Chemours (CC) downgraded to Neutral from Buy at Goldman Sachs
Toll Brothers (TOL) downgraded to Sector Weight from Overweight at KeyBanc

EARNINGS

Thursday's scheduled earnings include:

American Outdoor Brands (AOBC), Cantel Medical (CMD), Ciena (CIEN), Copper Companies (COO), Duluth Holdings (DLTH), Finisar (FNSR), GMS (GMS), JinkoSolar Holdings (JKS), Liberty Tax (TAX), Methode Electronics (MEI), Peak Resorts (SKIS), Toro (TTC), Science Applications (SAIC), United Natural Foods (UNFI), Vail Resorts (MTN)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Challenger Job-Cut Report - 7:00am
Jobless Claims - 8:30am
Bloomberg Consumer Comfort Index - 9:45am
Quarterly Services Survey - 10:00am
Consumer Credit - 3:00pm

METALS / OIL

Gold closed at $1,266.10 an ounce, up $1.20

Silver settled at $15.95 an ounce, down $0.12

Copper finished at $2.96 a pound, up $0.01

Crude Oil closed at $55.93 a barrel, down $2.43

ARTICLE OF THE DAY
Why It's Good to Use Algorithms In Your Trading

No longer do trading floors belong to adrenaline-fueled dealers aggressively executing orders from brokers who relied on research, experience and gut instinct to invest...[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

12-05-2017 Trade of the Day

Small-Caps Get Whacked

MARKET SUMMARY

U.S. markets settled to the downside on Tuesday with the Dow dipping 0.5% following its run to record highs on Monday. The Nasdaq cleared 6,800 intraday but slipped another 0.2% after trying to bounce back from several sessions of under performance. The S&P 500 traded in a tight right before giving back 0.4% while the Russell 2000 showed the most weakness after tanking 1.3%.

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

McDonald's (MCD) upgraded to Buy from Hold at Jefferies
Snap (SNAP) upgraded to Overweight from Equal Weight at Barclays
United Technologies (UTX) upgraded to Overweight from Neutral at Atlantic Equities

Allegiant Travel (ALGT) downgraded to Neutral from Buy at Buckingham
Madison Square Garden (MSG) downgraded to Equal Weight at Morgan Stanley
Robert Half (RHI) downgraded to Underperform from Neutral at Macquarie

EARNINGS

Wednesday's scheduled earnings include:

American Eagle Outfitters (AEO), Analogic (ALOG), Blue Bird (BLBD), Broadcom (AVGO), Cherokee (CHKE), Fred’s (FRED), Greif (GEF), H&R Block (HRB), IEC Electronics (IEC), Keysight Technology (KEYS), Korn/ Ferry International (KFY), Ollie’s Bargain Outlet (OLLI), Secure Works (SCWX), Tailored Brands (TLRD), Vera Bradley (VRA), Verint Systems (VRNT)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
ADP Employment Report - 8:15am
Productivity and Costs - 8:30am

METALS / OIL

Gold closed at $1,264.90 an ounce, down $12.80

Silver settled at $16.07 an ounce, down $0.30

Copper finished at $2.95 a pound, down $0.14

Crude Oil closed at $57.47 a barrel, down $0.89

ARTICLE OF THE DAY
The Power 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

12-04-2017 Trade of the Day

Bulls Fail to Hold Record Gains

MARKET SUMMARY

U.S. markets closed mostly lower to start the week despite Monday morning merger news and the preliminary passage of the tax bill after Friday’s closing bell. The Dow traded to an all-time intraday high of 24,534 but added just 0.2% on the pullback afterwards. The S&P 500 pushed a lifetime peak of 2,665 before giving back nearly 3 points, or 0.1%, into the closing bell.

The Russell 2000 reached a record high north of 1,559 shortly after the open but struggled holding its gains while finishing 0.8% lower. Meanwhile, the Nasdaq opened in positive territory but failed the 6,900 level by a point before spending the majority of the session underwater after dropping just over 1%.

TRADE OF THE DAY
THE WINNING TRADER'S MINDSET - PART 4
ANALYST UPGRADES / DOWNGRADES 

eBay (EBAY) upgraded to Outperform from Market Perform at BMO Capital
Owens Corning (OC) upgraded to Top Pick from Outperform at RBC Capital
UPS (UPS) upgraded to Buy from Hold at Deutsche Bank

Charter (CHTR) downgraded to Underweight from Equal Weight at Barclays
Old Dominion (ODFL) downgraded to Sell from Hold at Deutsche Bank
Public Storage (PSA) was downgraded to Underperform from Neutral at BofA/Merrill.

EARNINGS

Tuesday's scheduled earnings include:

AutoZone (AZO), Bank of Montreal (BMO), Barnes & Noble Education (BNED), Dave & Buster’s Entertainment (PLAY), Dynagas (DLNG), Funko (FNKO), G-III Apparel Group (GIII), HealthEquity (HQY), HD Supply Holdings (HDS), J. Jill (JILL), Lands’ End (LE), Oxford Industries (OXM), Toll Brothers (TOL), Veeva Systems (VEEV)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

International Trade - 8:30am
Redbook - 8:55am
PMI Services Index - 9:45am
ISM Non-Manufacturing Index - 10:00am

METALS / OIL

Gold closed at $1,277.70 an ounce, down $4.60

Silver settled at $16.37 an ounce, down $0.02

Copper finished at $3.09 a pound, unchanged

Crude Oil closed at $57.17 a barrel, down $0.94

ARTICLE OF THE DAY
20 Rules for Trading Success

Here are 20 rules that you need to use in order to become a consistently successful trader over the long run...[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

12-03-2017 Trade of the Day

Bulls Get Weekly Win Despite Volatility

MARKET SUMMARY

U.S. markets closed lower on Friday after recovering steep losses midday while managing to close the week higher. The Dow has its best week of the year after surging 2.9% but giving back 0.2% to snap a 5-session win streak. The S&P 500 also slipped 0.2% while adding 1.5% for the week, its biggest weekly gain since September.

The Nasdaq stumbled 0.4% to extend its weekly loss to 0.6% while closing below the 6,900 level for the 3rd-straight session. The Russell 2000 fell 0.5% but jumped 1.2% for the week and is just 1% below last Thursday’s all-time high.

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

Agco (AGCO) upgraded to Conviction Buy from Neutral at Goldman Sachs
Mellanox (MLNX) upgraded to Buy from Neutral at Longbow
Vantiv (VNTV) upgraded to Outperform from Neutral at Wedbush

Priceline (PCLN) downgraded to Hold from Buy at Argus
Regeneron (REGN) downgraded to Neutral from Buy at Citi
VMware (VMW) was downgraded to Hold from Buy at Gabelli

EARNINGS

Monday's scheduled earnings include:

Ascena Retail Group (ASNA), Coupa Software (COUP), GW Pharmaceuticals (GWPH)

UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

Factory Orders - 10:00am
TD Ameritrade IMX- 12:30pm

METALS / OIL

Gold closed at $1,282.30 an ounce, up $5.60

Silver settled at $16.39 an ounce, down $0.09

Copper finished at $3.09 a pound, up $0.03

Crude Oil closed at $57.17 a barrel, down $0.19

ARTICLE OF THE DAY
Exiting an Option Position

Once you own options, 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

11-30-2017 Trade of the Day

Dow Clears 24,000

MARKET SUMMARY

U.S. markets returned to record highs following some solid economic numbers and additional support on the Senate tax reform bill. The Dow reached an all-time high of 24,327 after zooming 1.4% while the S&P 500 tapped a lifetime peak of 2,657 after rising 0.8%. Both indexes extending their monthly winning streak to 8-straight.

The Russell 2000 made a record run to 1,551 before slipping into negative territory by a point ahead of the closing bell. The index held a 2-point gain, or 0.1%, but worth noting as the small-caps will likely lead the action on a tax vote possibly tonight or ahead of Friday’s market close. Meanwhile, the Nasdaq recovered half of its prior session losses after jumping 0.7% but failed the 6,900 level.

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

Boston Scientific (BSX) upgraded to Buy from Neutral at BTIG
Canadian National (CNI) upgraded to Buy on valuation at TD Securities
HCA Healthcare (HCA) upgraded to Overweight from Neutral at JPMorgan

Dentsply Sirona (XRAY) downgraded to Neutral from Buy at H.C. Wainwright
Fibria Celulose (FBR) downgraded to Hold from Buy at Santander
Mizuho Financial (MFG) downgraded to Equal Weight from Overweight at Morgan Stanley

EARNINGS

Friday's scheduled earnings include:

American Woodmark (AMWD), Big Lots (BIG), Genesco (GCO)

UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

PMI Manufacturing Index - 9:45am
ISM Manufacturing Index - 10:00am
Construction Spending - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS / OIL

Gold closed at $1,276.70 an ounce, down $9.50

Silver settled at $16.47 an ounce, down $0.09

Copper finished at $3.06 a pound, down $0.01

Crude Oil closed at $57.36 a barrel, up $0.06

ARTICLE OF THE DAY
What You Need to Know About Swing Trading

Trading has a few extremes you need to know....[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-29-2017 Trade of the Day

Sector Rotation Hits Tech

MARKET SUMMARY

U.S. markets pushed new record highs on Wednesday’s open with selling pressure and sector rotation hitting shortly afterwards. The mixed finish was slightly bearish with the Nasdaq tumbling 1.3% while holding shaky support at the 6,800 level. The S&P 500 traded to an all-time peak just south of 2,635 before slipping a point, or 0.04%, while easily holding the 2,600 level on the pullback.

The Dow was up 0.4% after kissing a lifetime peak of 23,959 while holding positive territory throughout the session. The Russell 2000 followed suit after tapping a record high of 1,547 and also gaining 0.4%.

TRADE OF THE DAY
THE WINNING TRADER'S MINDSET - PART 1
ANALYST UPGRADES / DOWNGRADES 

Domino's Pizza (DPZ) upgraded to Buy from Neutral at Nomura Instinet
Steven Madden (SHOO) upgraded to Buy from Neutral at Buckingham
Zoetis (ZTS) upgraded to Overweight from Equal Weight at Morgan Stanley

Chipotle (CMG) downgraded to Market Perform from Outperform at William Blair
MAA (MAA) downgraded to Market Perform from Outperform at Raymond James
Qualcomm (QCOM) downgraded to Hold at Stifel

EARNINGS

Thursday's scheduled earnings include:

At Home Group (HOME), Box (BOX), Descartes Systems Group (DSGX), Jack in the Box (JACK), La-Z-Boy (LZB), New York & Company (NWY), PVH (PVH), Semtech (SMTC), Tilly’s (TLYS), Workday (WDAY)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Jobless Claims - 8:30am
Personal Income and Outlays - 8:30am
Chicago PMI - 9:45am
Bloomberg Consumer Comfort Index - 9:45am

METALS / OIL

Gold closed at $1,286.20 an ounce, down $13.00

Silver settled at $16.56 an ounce, down $0.36

Copper finished at $3.07 a pound, down $0.03

Crude Oil closed at $57.39 a barrel, down $0.60

ARTICLE OF THE DAY
What is a System Health Monitor?

In spite of today's big sell-off in the tech sector, I thought it would make sense to discuss what a 'system health monitor' is...[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-28-2017 Trade of the Day

Another Breakout to Fresh All-Time Highs

MARKET SUMMARY

U.S. markets traded to fresh all-time highs throughout Tuesday’s session despite pulling back midday on news that North Korea has fired another ballistic missile. The Dow gained 1.1% after testing 23,849 to pull within 1% of clearing the 24,000 level. The S&P 500 made a record run to 2,627 after rising 1% while holding the 2,600 level for the 3rd-straight session. 

The Nasdaq reached a lifetime peak of 6,914 after rising 0.5% into the closing bell despite slipping into negative territory intraday. The Russell 2000 cleared its previous record peak of 1,524 to reach an all-time high of 1,536 while holding positive territory throughout the session.

TRADE OF THE DAY
TIMING IS EVERYTHING
ANALYST UPGRADES / DOWNGRADES 

Home Depot (HD) upgraded to Overweight from Neutral at Atlantic Equities
Mellanox (MLNX) upgraded to Equal Weight from Underweight at Barclays
Triple Point Venture (TPVG) upgraded to Buy from Neutral at Compass

PointCoreLogic (CLGX) downgraded to Hold from Buy at SunTrust
Lowe's (LOW) downgraded to Neutral from Overweight at Atlantic Equities
Nike (NKE) downgraded to Hold from Buy at HSBC

EARNINGS

Wednesday's scheduled earnings include:

At Home Group (HOME), Box (BOX), Descartes Systems Group (DSGX), Jack in the Box (JACK), La-Z-Boy (LZB), New York & Company (NWY), PVH (PVH), Semtech (SMTC), Tilly’s (TLYS), Workday (WDAY)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
GDP- 8:30am
Corporate Profits - 8:30am
Pending Home Sales Index - 10:00am
Beige Book - 2:00pm

METALS / OIL

Gold closed at $1,294.90 an ounce, up $0.50

Silver settled at $16.82 an ounce, down $0.20

Copper finished at $3.10 a pound, down $0.03

Crude Oil closed at $57.64 a barrel, down $0.47

ARTICLE OF THE DAY
20 Survival Skills for the Trader

The road to trading success is never a straight line... [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

11-27-2017 Trade of the Day

Dow Closes Slightly Higher

MARKET SUMMARY

U.S. markets started the week by setting fresh all-time highs, excluding the Russell 2000, while closing mixed to end the session. The Dow reached a record peak just south of 23,639 while holding positive territory. The S&P 500 tapped 2,606 while closing above the 2,600 for the second-straight session after giving back a point. The Nasdaq came with 3 points of clearing the 6,900 level but had its 4-session winning streak snapped after closing slightly lower. Meanwhile, the Russell 2000 opened higher but failed its all-time high by 2 points after stalling at 1,522 and finishing slightly in the red with a 0.4% loss.

TRADE OF THE DAY
TIMING IS EVERYTHING
ANALYST UPGRADES / DOWNGRADES 

Ciena (CIEN) upgraded to Buy from Neutral at BofA/Merrill
Lowe's (LOW) upgraded to Outperform from Market Perform at Raymond James
GlaxoSmithKline (GSK) upgraded to Buy from Neutral at UBS

Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at UBS
Square (SQ) downgraded to Sell from Neutral at BTIG
Western Digital (WDC) downgraded to Equal Weight from Overweight at Morgan Stanley

EARNINGS

Tuesday's scheduled earnings include:

Atkore International Group (ATKR), Bazaarvoice (BV), Oaktree Speciality Lending (OCSL), Photronics (PLAB), Royal Bank of Canada (RY), Tiffany & Company (TIF)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

International Trade in Goods - 8:30am
Redbook - 8:55am
FHFS House Price Index - 9:00am
S&P Corelogic Case-Shiller - 9:00am
Consumer Confidence - 10:00am
Richmond Fed Manufacturing Index - 10:00am
State Street Investor Confidence Index - 10:00am
Gallop US ECI - 2:00pm

METALS / OIL

Gold closed at $1,294.40 an ounce, up $7.10

Silver settled at $17.02 an ounce, up $0.03

Copper finished at $3.13 a pound, down $0.04

Crude Oil closed at $57.88 a barrel, down $1.07

ARTICLE OF THE DAY
Exiting an Option Position

Once you own options, 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
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