Category Archives for General

06-21-2018 Trade of the Day

VIX Holds Major Resistance

MARKET SUMMARY

U.S. markets were weak throughout Thursday’s session as the trade war deepened between the U.S. and China. China has accused the U.S. of trade abuses, while the U.S. continues to accuse China of stealing technology. India has now joined Europe in imposing retaliatory tariffs on U.S. goods as the trade war reach extends.

The Dow extended its losing streak to 8-straight sessions after dropping 0.8% while trading to a low of 24,406. Backup support at 24,450-24,400 is now in play on the close back below the 50-day moving average.

The S&P 500 declined 0.6% after testing a low of 2,744. Major support at 2,750 was breached and was a slightly bearish development.

The Nasdaq made a run past the 7,800 level before fading 0.9% on the late day pullback to 7,699. The 7,700 level has been holding for the past 6 sessions and 7 of the last 8 with a close below this level being a slightly bearish signal.

The Russell 2000 also saw positive territory on the open while missing a fresh all-time high north of 1,708 by a tenth-point. The back-test to 1,685 and close back below the 1,700 level was a slight concern.

WINNING TRADERS MINDSET - PART 3

ANALYST UPGRADES/DOWNGRADES

​AMC Entertainment (AMC) upgraded to Buy from Hold at Benchmark
Becton Dickinson (BDX) upgraded to Overweight from Neutral at JPMorgan
PayPal (PYPL) upgraded to Overweight from Neutral at Atlantic Equities

AMC Networks (AMCX) downgraded to Underperform from Market Perform at Bernstein
Catalyst Biosciences (CBIO) downgraded to Neutral from Buy at B. Riley FBR
Nike (NKE) downgraded to Neutral from Buy at UBS

EARNINGS

Friday's earnings reports (EST): 

Before the open: Blackberry (BB), Carmax (KMX)
After the close: No major announcements


UPCOMING ECONOMIC NEWS

Friday's economic reports (EST): 

Empire State Manufacturing Survey - 8:30am
Industrial Production - 9:15am
Consumer Sentiment - 10:00am
Baker-Hughes Rig Count - 1:00pm


METALS / OIL

Gold closed at $1270.50 an ounce, down $4.00

Silver settled at $16.33 an ounce, up $0.02

Copper finished at $3.02 a pound, down$0.02

Crude Oil is at $65.82 a barrel, up $0.11

Bitcoin Investment Trust (GBTC) ended at $10.70 down $0.20

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

VIX Holds Major Resistance

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06-20-2018 Trade of the Day

Small-Caps Clear 1,700

MARKET SUMMARY

U.S. markets traded mostly higher throughout Wednesday’s session as protectionist trade rhetoric took a backseat to fresh highs in Tech and the small-caps. The blue-chips still underperformed while the broader market held positive territory throughout the session.

Oil was slightly higher ahead of Friday's OPEC meeting as Iran reportedly claimed it had not agreed to any production increases. Meanwhile, volatility closed back below key levels of support after holding resistance throughout the week.

The Dow fell for the 7th-straight session after slipping 0.2% while testing a low of 24,628. Major support at 24,650 and the 50-day moving average held for the second-straight session with the index on its longest losing streak in 15 months.

The S&P 500 made a run to 2,774 to snap a 3-session slid with lower resistance at 2,775-2,800 holding. A close above the latter could lead to a short-covering rally and end of month fund buying.

The Nasdaq jumped 0.7% after trading to an all-time high of 7,806. The index fell shy of holding 7,800 with continued closes above this level likely getting 7,925-8,000 in play.

The Russell 2000 rallied 0.8% while trading to a fresh lifetime high of 1,708 and holding 1,700 into the closing bell. Continued closes above this level could lead to a short-term push towards 1,735-1,750.

WINNING TRADERS MINDSET - PART 3

ANALYST UPGRADES/DOWNGRADES

​Citi (C) upgraded to Buy from Hold at Deutsche Bank
Duke Energy (DUK) upgraded to Buy from Neutral at BofA/Merrill
Glatfelter (GLT) upgraded to Buy from Neutral at DA Davidson

Alarm.com (ALRM) downgraded to Sell from Neutral at Goldman Sachs
Oracle (ORCL) downgraded to Neutral from Outperform at Wedbush
Starbucks (SBUX) downgraded to Equal Weight from Overweight at Morgan Stanley

EARNINGS

Thursday's earnings reports (EST): 

Before the open: Barnes & Noble (BKS), Commercial Metals (CMC), Darden Restaurants (DRI), Kroger (KR), Methode Electronics (MEI), Patterson Companies (PCO)
After the close: American Software (AMSWA), Red Hat (RHT), Smart Global Holdings (SGH)


UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Jobless Claims - 8:30am
Philadelphia Fed Business Outlook Survey - 8:30am
FHFA House Price Index - 9:00am
Bloomberg Consumer Comfort Index - 9:45am
Leading Indicators - 10:00am


METALS / OIL

Gold closed at $1274.50 an ounce, down $4.10

Silver settled at $16.3 1an ounce, down $0.01

Copper finished at $3.04 a pound, down$0.01

Crude Oil is at $65.09 a barrel, down $0.00

Bitcoin Investment Trust (GBTC) ended at $10.90 down $0.10

Article of the Day

​This strategy is best implemented in a moderately bearish market. It provides high leverage over a limited range of stock prices.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Small-Caps Clear 1,700

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06-19-2018 Trade of the Day

Blue-Chips Hold 50-Day MA

MARKET SUMMARY

U.S. markets were weak on Tuesday’s open as trade tensions with China reached a new gear. After the U.S. and China imposed tariffs on each other, the White House has reportedly identified another $200 billion in potential taxes that it is threatening to enact. China has said if they are implemented, it will respond in kind.

The indexes rebounded off their morning lows with the small-caps once again showing strength. The mixed finish came on heightened volatility but the damage was limited as the VIX held key levels of resistance.

The Dow dropped 1.2% to extended its losing streak to 6-straight sessions after testing a low of 24,567. Major support at 24,650 and the 50-day moving average held although the blue chips are now negative by 19 points for the year.

The S&P 500 fell 0.4% to extend its losing streak to 3-straight sessions after testing an intraday low of 2,743. Crucial support at 2,750 held for the 2nd-straight day.

The Nasdaq gave back 0.3% after trading in negative territory throughout the session with the low tapping 7,635. The index held the 7,700 level 5th time in 6 sessions.

The Russell 2000 gained 0.1% despite the morning back-test to 1,672 and lower weekly low. The rebound to 1,694 and fresh all-time high keeps 1,700 in play.

Utilities jumped 1% to lead sector strength while Consumer Staples advanced 0.5%

Industrials were the weakest sector after sinking 2.1% while Materials were punished for 1.8%.

WINNING TRADERS MINDSET - PART 2

ANALYST UPGRADES/DOWNGRADES

Accenture (ACN) upgraded to Positive from Neutral at Susquehanna
First Solar (FSLR) upgraded to Neutral from Underperform at Credit Suisse
Verizon (VZ) upgraded to Buy from Hold at Deutsche Bank
Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Stifel
F5 Networks (FFIV) downgraded to Neutral from Buy at Citi
Mattel (MAT) downgraded to Neutral from Buy at UBS

EARNINGS

Wednesday's earnings reports (EST): 

Before the open: Actuant (ATU), ReneSola (SOL), Winnebago Industries (WGO)
After the close: American Outdoor Brands (AOBC), Barnes & Noble Education (BNED), Micron Technology (MU), Steelcase (SCS)


UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
PPI-FD - 8:30am
Atlantic Fed Business Inflation Expectations - 10:00am
FOMC Minutes - 2:00pm


METALS / OIL

Gold closed at $1278.60 an ounce, down $1.50

Silver settled at $16.32 an ounce, down $0.12

Copper finished at $3.05 a pound, down$0.05

Crude Oil is at $65.09 a barrel, down $0.70

Bitcoin Investment Trust (GBTC) ended at $11.00 down $0.05

Article of the Day

​This strategy is best implemented in a moderately bearish or stable market to provide high leverage over a limited range of stock prices.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Blue-Chips Hold 50-Day MA

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06-18-2018 Trade of the Day

Small-Caps Continue Record Run

MARKET SUMMARY

U.S. markets were weak from the start of Monday’s open with the nervousness being blamed on a second tariff list on Chinese goods. The brewing trade war between the U.S. and China will remain in focus as there won’t be much economic or earnings news to help the market this week.

The small-caps showed strength within an hour of trading and provided a good hint losses could be limited. However, volatility continues to hold key levels of resistance throughput the month and is still showing signs of relaxing to lower lows. 

The Dow extended its losing streak to 5-straight sessions after falling 0.4% and testing a low of 24,825. Major support at 25,000 was breached on the close below this level with backup help at 24,800 holding.

The Nasdaq traded in the red for much of the session with the low reaching 7,676. The index held the 7,700 level 4th time in 5 sessions after climbing less than a point, or 0.01%, into the closing bell.

The S&P 500 was down for the 2nd-straight session after giving back 0.2% following the intraday backtest to 2,757. Crucial support at 2,750 held with a close below this level getting 2,725-2,700 back in play.

The Russell 2000 was up 0.5% despite the opening fade to 1,674. The index showed strength shortly afterwards while closing above 1,692 and another all-time high as the final bell sounded.

WINNING TRADERS MINDSET - PART 1

ANALYST UPGRADES/DOWNGRADES

​Chevron (CVX) upgraded to Outperform from Market Perform at Raymond James
Francesca's (FRAN) upgraded to Buy from Neutral at B. Riley FBR
Teva (TEVA) upgraded to Market Perform from Underperform at Wells Fargo

Cheesecake Factory (CAKE) downgraded to Neutral on valuation at BTIG
Intel (INTC) downgraded to Underperform from Market Perform at Northland
Redfin (RDFN) was downgraded to Sell from Neutral at Goldman Sachs

EARNINGS

Tuesday's earnings reports (EST): 

Before the open: Secoo Holding (SECO)
After the close: FedEx (FDX), La-Z-Boy (LZB), Oracle (ORCL)


UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

NFIB Small Business Optimism Index - 6:00am
Consumer Price Index - 8:30am
Redbook - 8:55am
Treasury Budget - 2:00pm


METALS / OIL

Gold closed at $1280.10 an ounce, up $1.60

Silver settled at $16.44 an ounce, down $0.04

Copper finished at $3.10 a pound, down$0.04

Crude Oil is at $65.79 a barrel, up $0.73

Bitcoin Investment Trust (GBTC) ended at $11.05 up $0.10

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

Small-Caps Continue Record Run

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06-17-2018 Trade of the Day

Bulls Survive Busy Week

MARKET SUMMARY

U.S. markets opened lower and traded in negative territory throughout Friday’s session following renewed trade concerns with China. The White House announced a 25% tariff on $50 billion of goods from China and said it will pursue additional tariffs if China engages in retaliatory measures.

In response, China intends to impose tariffs on certain U.S. goods starting the first week of July.

The major indexes finished well off their lows with volatility remaining subdued despite the ongoing tariff tantrums.

The Dow fell 0.3% after testing a morning low of 24,894 while closing above major support at 25,000 for the 8th-straight session. The Nasdaq dipped 0.2% following an intraday pullback to 7,704 while easily holding the 7,700 level into the closing bell.

For the week, the Dow was down 0.9% while the Nasdaq surged 1.3%.

The S&P 500 slipped 0.3% after trading to a low of 2,761 but did see positive territory by a quarter-point late in the day. The Russell 2000 was off less than a point, or 0.05%, following the morning fade to 1,672.

The S&P 500 was lower by a half-point while the Russell 2000 was up 0.6% for the week.

WHEN MARKETS MISBEHAVE

ANALYST UPGRADES/DOWNGRADES

Badger Meter (BMI) upgraded to Hold from Sell at Canaccord
Charles River (CRL) upgraded to Overweight from Sector Weight at KeyBanc
Spire (SR) upgraded to Outperform from Market Perform at Wells Fargo
BHP Billiton (BHP) downgraded to Hold from Buy at Investec
Motorcar Parts (MPAA) downgraded to Neutral from Buy at Roth Capital
Splunk (SPLK) downgraded to Sell from Neutral at Citi


EARNINGS

Monday's earnings reports (EST): 

No major announcements

UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

Housing Market Index - 10:00am


METALS / OIL

Gold closed at $1278.50 an ounce, down $29.80

Silver settled at $16.48 an ounce, down $0.78

Copper finished at $3.14 a pound, down$0.08

Crude Oil is at $64.38 a barrel, down $2.31

Bitcoin Investment Trust (GBTC) ended at $10.95 down $0.58

Article of the Day

​​Just remember this: if you want to make it as a professional trader, you trade on probability, not hope. You have to trade your plan.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Bulls Survive Busy Week

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06-14-2018 Trade of the Day

Tech Keeps Momentum

MARKET SUMMARY

U.S. markets opened higher following better-than-expected economic reports, including monthly retail sales figures and weekly jobless claims data. The rebound from prior session losses lost a little steam afterwards as the blue-chips and small-caps fell into negative territory. Meanwhile, Tech zoomed to a fresh all-time high as volatility matched its weekly low intraday and is still signaling higher highs for the overall market.

The Nasdaq surged 0.9% after tapping a record high of 7,768 while recording its 100th record close since the Presidential election.

The S&P 500 advanced 0.3% after making a run to 2,789 with major resistance from mid-March at 2,800 still in play.

The Russell 2000 gained 0.5% after closing north of 1,684 and session high while failing a fresh record peak for a 2nd-straight session by less than 2 points.

The Dow dropped 0.1% following the back-test to 25,138 with support at 25,000 easily holding for the 2nd-straight day.

THE WINNING TRADERS MINDSET - Part 4

ANALYST UPGRADES/DOWNGRADES

American Campus (ACC) upgraded to Buy from Neutral at BofA/Merrill
Capital One (COF) upgraded to Overweight from Neutral at Piper Jaffray
NL Industries (NL) upgraded to Equal Weight from Underweight at Barclays
Oracle (ORCL) downgraded to Neutral from Overweight at JPMorgan
Kohl's (KSS) downgraded to Neutral from Buy at Citi
Toll Brothers (TOL) downgraded to Hold from Buy at Zelman


EARNINGS

Thursday's earnings reports (EST): 

Before the open: ​Canada Goose (GOOS), Halifax (HX), Tsakos Energy Navigation (TNP)
After the close: ​Azure Power Global (AZRE)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Empire State Manufacturing Survey - 8:30am
Industrial Production - 9:15am
Consumer Sentiment - 10:00am
Baker-Hughes Rig Count - 1:00pm


METALS / OIL

Gold closed at $1308.30 an ounce, up $7.00

Silver settled at $17.25 an ounce, up $0.26

Copper finished at $3.22 a pound, down$0.03

Crude Oil is at $65.86 a barrel, unchanged

Bitcoin Investment Trust (GBTC) ended at $11.53 up $0.93

Article of the Day

​Once you own options, there are three methods that can be used to make a profit or avoid loss: exercise them, offset them with other options, or let them expire worthless.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Fed Slows Market Momentum, For Now

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06-13-2018 Trade of the Day

Fed Slows Market Momentum, For Now

MARKET SUMMARY

U.S. markets traded in a tight range throughout much of Wednesday’s session, but showed some strength ahead of the Fed’s decision on interest rates. There was not a major reaction after the Fed confirmed another quarter-point hike although the major indexes traded to session lows into the close on the news.

Fresh all-time highs remain in play as the pullback was contained with near-term support holding and the major indexes closing lower for the session.

Volatility was slightly elevated into the closing bell but held key levels of resistance.

The Nasdaq was off 0.1% despite testing an intraday record high of 7,748 but was unable to hold 7,700 after closing below this level by 5 points.

The Russell 2000 fell for just the 2nd time in 9 sessions after giving back 0.3% and failing a fresh record high by 2 points.

The S&P 500 tested a weekly high of 2,791 but declined 0.4% after trading in a super tight 17-point range.

The Dow declined 0.5% despite showing first half strength and reaching a morning peak of 25,362 while holding major support at the 25,000 level on the pullback.

TRADE OF THE DAY
THE WINNING TRADERS MINDSET - Part 3

ANALYST UPGRADES/DOWNGRADES

Barrick Gold (ABX) downgraded to Underweight from Equal Weight at Morgan Stanley
Buckeye Partners (BPL) downgraded to Neutral from Buy at UBS
SeaWorld (SEAS) downgraded to Sell from Neutral at Citi
Albemarle (ALB) upgraded to Buy from Hold at Vertical Research
Entravision (EVC) upgraded to Buy from Hold at Noble Financial
OMA Airports (OMAB) upgraded to Sector Perform from Underperform at Scotiabank


EARNINGS

Thursday's earnings reports (EST): 

Before the open: ​​Fred’s (FRED), Michael’s Companies (MIK)
After the close: ​​Adobe Systems (ADBE), Cherokee (CHKE), Finisar (FNSR), Jabil Circuit (JBL), Vince Holding (VNCE)

UPCOMING ECONOMIC NEWS

Thursday's economic reports (EST): 

Jobless Claims - 8:30am
Retail Sales - 8:30am
Import and Export Prices - 8:30am
Bloomberg Consumer Comfort Index - 9:45am
Business Inventories -10:00am


METALS / OIL

Gold closed at $1301.30 an ounce, up $1.90

Silver settled at $16.99 an ounce, up $0.10

Copper finished at $3.25 a pound, unchanged

Crude Oil is at $65.86 a barrel, down $0.18

Bitcoin Investment Trust (GBTC) ended at $10.60 down $0.69

Article of the Day

​Profit can be found in options in a variety of ways from a rise or fall in the underlying market. The most basic strategies employ put and call options as a low capital means of garnering a profit on market movement.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Fed Slows Market Momentum, For Now

Click to Tweet

06-12-2018 Trade of the Day

Nasdaq Holds 7,700 Level

MARKET SUMMARY

U.S. markets showed little reaction to the U.S.-North Korea summit to start Tuesday’s session but picked up momentum afterwards with fresh all-time highs back in play. A joint statement and signed agreement came out of the summit, with details and further verifiable progress to be decided at future dates. 

The Fed's FOMC meeting will now take center stage with an announcement coming out Wednesday afternoon on interest rates. 

Volatility remained calm and is on the verge of testing May and June lows.

The Nasdaq was up 0.6% following its push to 7,708 and fresh lifetime high while settling above the 7,700 level.

The Russell 2000 rallied 0.5% after testing an all-time high of 1,686 and remains on track to trip 1,700 on continued strength.

The S&P 500 added 0.2% after testing a high of 2,789 but failed Monday’s peak by a half-point with major resistance remaining at 2,800.

The Dow was the weakest link, but was only down just over a point, or 0.01%, following the back-test to 25,247 and tight 117-point trading range. As a side note, the Dow Transports cleared 11,000 to start the week and were up again today.

TRADE OF THE DAY
THE WINNING TRADERS MINDSET - Part 2

ANALYST UPGRADES/DOWNGRADES

Albemarle (ALB) upgraded to Buy from Hold at Vertical Research
Entravision (EVC) upgraded to Buy from Hold at Noble Financial
Newmont Mining (NEM) upgraded to Overweight from Equal Weight at Morgan Stanley
Barrick Gold (ABX) downgraded to Underweight from Equal Weight at Morgan Stanley
SeaWorld (SEAS) downgraded to Sell from Neutral at Citi
Sotheby's (BID) downgraded to Neutral from Buy at Sidoti


EARNINGS

Wednesday's earnings reports (EST): 

Before the open: ​Bitauto Holdings (BITA), Crown Crafts (CRWS), Korn/ Ferry International (KFY)
After the close: ​Culp (CULP), Sonoma Pharmaceuticals (SONA), Tailored Brands (TLRD), Zedge (ZDGE)

UPCOMING ECONOMIC NEWS

Wednesday's economic reports (EST): 

MBA Mortgage Applications - 7:00am
PPI-FD - 8:30am
Atlantic Fed Business Inflation Expectations - 10:00am
FOMC Minutes - 2:00pm


METALS / OIL

Gold closed at $1,299.40 an ounce, down $3.80

Silver settled at $16.89 an ounce, down $0.06

Copper finished at $3.25 a pound, unchanged

Crude Oil is at $65.86 a barrel, down $0.18

Bitcoin Investment Trust (GBTC) ended at $11.29 down $0.41

Article of the Day

The Beautiful Thing About (Stock) Options is that once again you will totally control your downside risk.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Nasdaq Holds 7,700 Level

Click to Tweet

06-11-2018 Trade of the Day

Near-Term Resistance Levels Hold

MARKET SUMMARY

U.S. markets opened slightly higher as there was little reaction to the contentious G-7 meeting over the weekend, despite President Trump leaving early and while highlighting the divisiveness over the trade disputes among the allies. 

Trading was choppy afterwards with a slight pullback as Wall Street turned its focus towards the upcoming U.S.-North Korea summit. 

However, upside momentum resumed after the White House said negotiations are ahead of schedule, which may bode well for a plan to de-nuclearize the Korean peninsula.
The Russell 2000 rose 0.3% following a run to 1,674 and coming within 5 points of its all-time high set the previous session.

The Nasdaq was up 0.2% after reaching a midday peak of 7,677 while coming within 20 points of a fresh all-time high.

The Russell 2000 added 0.1% following the morning run to 1,677 while missing another record high by just over 2 points.

The S&P 500 gained 0.1% after testing a high of 2,790 with major resistance at 2,800 holding.

The Dow was up for the 6th-time in 7 sessions after rising nearly 6 points, or 0.02% while tapping 25,402 intraday.

TRADE OF THE DAY
THE WINNING TRADERS MINDSET - Part 2

ANALYST UPGRADES/DOWNGRADES

Apache (APA) upgraded to Buy from Hold at Argus
Match Group (MTCH) upgraded to Buy from Hold at Jefferies
First Data (FDC) upgraded to Buy from Neutral at Goldman Sachs
Nektar (NKTR) downgraded to Neutral from Buy at H.C. Wainwright
NXP Semiconductors (NXPI) downgraded to Hold from Buy at SunTrust
SemGroup (SEMG) downgraded to Market Perform from Outperform at Wells Fargo


EARNINGS

Tuesday's earnings reports (EST): 

Before the open: Casey’s General Stores (CASY), Land’s End (LE)
After the close: Digital Turbine (APPS), H&R Block (HRB), Oxford Industries (OXM), Pivotal (PVTL), Science Applications International (SAIC), WSI Industries (WSCI)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

No major announcements


METALS / OIL

Gold closed at $1,303.20 an ounce, up $0.20

Silver settled at $16.95 an ounce, up $0.21

Copper finished at $3.25 a pound, down $0.05

Crude Oil is at $66.04 a barrel, down $0.26

Bitcoin Investment Trust (GBTC) ended at $11.70 down $1.00

Article of the Day

​Simply put, options buyers have rights and options sellers have obligations. Buyers have the right, but not the obligation, to buy (call) or sell (put) the underlying stock (or futures contract) at a specified price until the 3rd Friday of their expiration month.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Near-Term Resistance Levels Hold

Click to Tweet

06-10-2018 Trade of the Day

Bulls Get Weekly Win

MARKET SUMMARY

U.S. markets showed early morning weakness on Friday as tensions remained elevated heading into the G-7 meeting, where trade and tariffs were certainly discussed. The major indexes drifted off their lows and turned positive during the second half of action while pushing near-term resistance ahead of a number of potentially market-moving events this week.

  How One Investor’s ‘CPR Strategy’ Is Allowing Him To Scientifically Predict     Stock Moves…Regardless If The Market Is Up Or Down, Or Your Level Of       Investing Experience.  CLICK HERE TO WATCH THE FREE WEBINAR

The Nasdaq added 0.1% after making an intraday push to 7,653 while holding the 7,600 level throughout last week on the run to record highs.

The Russell 2000 rose 0.3% following a run to 1,674 and coming within 5 points of its all-time high set the previous session.

The small-caps rallied 1.6% for the week with upside towards 1,680-1,700 on continued momentum. The Nasdaq was higher by 1.2% and has potential to push 7,750-7,800 on continued momentum.

The S&P 500 advanced 0.3% on the run to 2,779 into the close and is less than 1% away from clearing major mid-March resistance at 2,800.

The Dow climbed 0.3% after reaching a peak of 25,325 and has been holding the 25,000 level for 3-straight sessions.

The Dow was up 2.8% for the week while the S&P rose 1.6%. Both indexes are roughly 4% and 3% away from triggering fresh all-time highs.

THE WINNING TRADERS MINDSET - Part 1

ANALYST UPGRADES/DOWNGRADES

ConocoPhillips (COP) upgraded to Outperform from Market Perform at Bernstein
Marathon Oil (MRO) upgraded to Buy from Hold at Tudor Pickering
Quest Diagnostics (DGX) upgraded to Outperform from Market Perform at William Blair
Domino's Pizza (DPZ) downgraded to Hold from Buy at Maxim
Petrobras (PBR) downgraded to Neutral from Buy at UBS
Quanex (NX) downgraded to Neutral from Buy at Sidoti


EARNINGS

Monday's earnings reports (EST): 

Before the open: ​Optical Cable (OCC), RF Industries (RFIL)
After the close: ​​Dave & Buster’s Entertainment (PLAY), David’s Tea (DTEA), KMG Chemicals (KMG), Limoneira (LMNR), RH (RH), Star Bulk Carriers (SBLK)

UPCOMING ECONOMIC NEWS

Monday's economic reports (EST): 

No major announcements


METALS / OIL

Gold closed at $1,302.70 an ounce, down $0.30

Silver settled at $16.74 an ounce, down $0.07

Copper finished at $3.30 a pound, up $0.03

Crude Oil is at $65.56 a barrel, down $0.39

Bitcoin Investment Trust (GBTC) ended at $12.70 down $0.16

Article of the Day

How do you know if your system is in a draw-down or is broken? The answer is you don’t.
[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

Bulls Continue to Push Blue-Sky Territory

Click to Tweet

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