Tag Archives: CHFS

Mid-Afternoon Market Update: Dow Drops 75 Points; Cleantech Solutions International Shares Spike Hig

Toward the end of trading Wednesday, the Dow traded down 0.32 percent to 23,515.49 while the NASDAQ climbed 0.01 percent to 6,863.32. The S&P also fell, dropping 0.11 percent to 2,596.30.

Leading and Lagging Sectors

Wednesday afternoon, the energy sector proved to be a source of strength for the market. Leading the sector was strength from TETRA Technologies, Inc. (NYSE: TTI) and Abraxas Petroleum Corp. (NASDAQ: AXAS).

In trading on Wednesday, financial shares fell 0.13 percent. Meanwhile, top losers in the sector included Adams Natural Resources Fund Inc (NYSE: PEO), down 4 percent, and Old Point Financial Corporation (NASDAQ: OPOF) down 3 percent.

Top Headline

Deere & Company (NYSE: DE) reported better-than-expected results for its fourth quarter on Wednesday.

Deere reported Q4 earnings of $1.57 per share on revenue of $8.018 billion. However, analysts were expecting a profit of $1.47 per share on sales of $7.05 billion.

Deere expects FY18 net income of $2.6 billion and equipment sales to rise 22 percent.

Equities Trading UP

Cleantech Solutions International Inc (NASDAQ: CLNT) shares shot up 98 percent to $8.82 after the company disclosed that its subsidiary, Vantage Ultimate Limited, entered into a conditional share swap deal to buy 51 percent interest in Marvel's issued share capital of Integrated Media Technology.

Shares of Eltek Ltd. (NASDAQ: ELTK) got a boost, shooting up 57 percent to $5.64. Eltek’s 1-for-5 reverse stock split took place today.

Copart, Inc. (NASDAQ: CPRT) shares were also up, gaining 10 percent to $40.35 after the company reported better-than-expected quarterly results.

Equities Trading DOWN

Sunshine Heart Inc (NASDAQ: CHFS) shares dropped 44 percent to $4.42. CHF Solutions priced public offering of convertible preferred stock and warrants for gross proceeds of $18 million.

Shares of Rand Logistics, Inc. (NASDAQ: RLOG) were down 26 percent to $0.430 following deal to be purchased by American Industrial Partners.

Iconix Brand Group Inc (NASDAQ: ICON) was down, falling around 19 percent to $2.06. CONSOL Energy will replace Iconix Brand Group in the S&P SmallCap 600 on Thursday, November 30.


In commodity news, oil traded up 1.30 percent to $57.57 while gold traded up 0.68 percent to $1,295.00.

Silver traded up 0.84 percent Wednesday to $17.205, while copper rose 0.25 percent to $3.1585.


European shares closed mostly lower today. The eurozone’s STOXX 600 dropped 0.27 percent, the Spanish Ibex Index rose 0.21 percent, while Italy’s FTSE MIB Index fell 0.05 percent. Meanwhile the German DAX slipped 1.16 percent, and the French CAC 40 declined 0.25 percent while U.K. shares rose 0.10 percent.


U.S. durable goods orders declined 1.7 percent for October, versus economists’ expectations for a 0.3 percent growth

U.S. initial weekly jobless claims dropped 13,000 to 239,000 in the latest week. However, economists were projecting claims to reach 240,000 last week.

The University of Michigan's consumer sentiment index rose to 98.50 in November, versus prior reading of 97.80. Economists projected a reading of 98.00.

Domestic crude supplies dropped 1.85 million barrels for the week ended November 17, the U.S. Energy Information Administration reported. Analysts expected a fall of 1.54 million barrels. Gasoline stockpiles gained 44.000 barrels, while distillate stockpiles rose 269,000 barrels last week.

Domestic supplies of natural gas declined 46 billion cubic feet for the week ended November 17, the U.S. Energy Information Administration reported. Analysts estimated a drop of 51 billion cubic feet.

The Federal Open Market Committee issued minutes of its latest meeting.

Low Market Volatility? No Problem

Low Market Volatility? No Problem

Since the election, the market has brushed off everything in its path and rallied nearly 25 percent. In years like this, we often see new people pile into the market to get in on the action. But don’t forget that this bull market has really been going on for the entirety of the current decade. It just wasn’t until this year that the market really started to rally hard.

A consequence of this enthusiasm has been that volatility has fallen to all-time lows in 2017, which has made day trading today a unique challenge. As a trader I love volatility. I can’t live without it. Low beta stocks and a VIX hovering around 10 does not do it for me. It’s also made trading using popular technical patterns a little more difficult, because people are just more willing to buy no matter what.

But just because there’s low volatility overall, that doesn’t mean there isn’t volatility to be found in individual names. You just have to know where to look. To overcome this, I stick with the tools I’ve been using — mainly my high-of-the-day scanner. This automatically alerts me when stocks are making new highs, which in turn tells me a stock is likely to be more volatile today.

I look at stocks like Sunshine Heart Inc (NASDAQ: CHFS), which has a beta of 2.38 (remember, a beta greater than 1 means more volatility), or SemiLEDs Corporation (NASDAQ: LEDS), with a beta of 2.26. Both of these have been recent winners for me. If this means I’m trading penny stocks, then that’s fine. My key is to stick with my system, which is why I’ve been successful — and had the best day of my career).

Even if you don’t have a scanner like mine to look for new highs, screening for high beta stocks can still provide a source of volatility. And volatility is the lifeblood of day trading.

Disclosure: Warrior Trading is an editorial partner of Benzinga.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.