20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Midway through trading Thursday, the Dow traded up 0.09 percent to 20,875.35 while the NASDAQ climbed 0.13 percent to 5,845.15. The S&P also rose, gaining 0.14 percent to 2,366.22.
Leading and Lagging Sectors
Non-cyclical consumer goods & services shares rose 0.66 percent in trading on Thursday.
In trading on Thursday, basic materials shares fell by 0.51 percent. Meanwhile, top losers in the sector included Mechel PAO (ADR) (NYSE:MTL), down 7 percent, and Century Aluminum Co (NASDAQ:CENX), down 4 percent.
Top Headline
Staples, Inc. (NASDAQ:SPLS) posted weaker-than-expected earnings for its fourth quarter.
Staples reported Q4 adjusted earnings of $0.25 per share on revenue of $4.56 billion. Analysts were expecting earnings of $0.26 per share on revenue of $5 billion.
Equities Trading UP
Comtech Telecomm. Corp. (NASDAQ:CMTL) shares shot up 22 percent to $13.60. Comtech reported Q2 adjusted earnings of $0.01 per share on revenue of $139 million.
Shares of e.l.f. Beauty Inc (NYSE:ELF) got a boost, shooting up 15 percent to $29.00. e.l.f. Beauty reported Q4 adjusted earnings of $0.14 per share on revenue of $76.4 million. The company also issued a strong FY17 forecast.
MaxPoint Interactive Inc (NASDAQ:MXPT) shares were also up, gaining 22 percent to $5.57. MaxPoint Interactive reported Q4 earnings of $0.59 per share on revenue of $46.3 million.
Equities Trading DOWN
Tailored Brands Inc (NYSE:TLRD) shares dropped 30 percent to $16.28 after the company reported a wider-than-expected loss for its fourth quarter.
Shares of Turtle Beach Corp (NASDAQ:HEAR) were down around 23 percent to $1.08. Turtle Beach reported Q4 earnings of $0.25 per share on revenue of $82.2 million. The company also issued a weak forecast for the first quarter.
InspireMD Inc (NYSE:NSPR) was down, falling around 36 percent to $1.27. InspireMD reported the pricing of public offering of up to $7.5 million.
Commodities
In commodity news, oil traded down 2.29 percent to $49.13 while gold traded down 0.50 percent to $1,203.40.
Silver traded down 0.83 percent Thursday to $17.16, while copper fell 1.04 percent to $2.57.
Eurozone
European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.02 percent, the Spanish Ibex Index rose 1.3 percent, while Italy’s FTSE MIB Index climbed 0.36 percent. Meanwhile the German DAX rose 0.01 percent, and the French CAC 40 rose 0.28 percent while U.K. shares fell 0.27 percent.
Economics
Initial jobless claims rose 20,000 to 243,000 in the latest week. However, economists were expecting jobless claims to total 235,000 in the week.
The import price index increased 0.2 percent in February, while export prices increased 0.3 percent in the month.
Supplies of natural gas dropped 68 billion cubic feet for the week ended March 3, the U.S. Energy Information Administration reported. Analysts projected inventories to fall by 61 billion cubic feet.
The Treasury is set to auction 30-year bonds at 1:00 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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