It was looking good Wednesday morning on news that the White House would use a strengthened Committee on Foreign Investment in the U.S. (CFIUS) to protect domestic technologies from foreign countries (especially China). The market saw this as a softer route than executive orders and Twitter volleys, leading to a positive open for all the major indices. And then stocks hit a wall. The indices began losing altitude at mid-day before taking a real turn for the worse. They finished at their lows of the session. Tech led the way down with the NASDAQ dropping 1.54% to 7445.1 as names like Netflix, Amazon, Facebook and Google all lost more than 1%. The S&P was off 0.86% to 2699.6, slipping below its 50-day. The small cap Russell 2000 dipped 1.68% to 1640.5. The Dow closed below its 200-day for a third straight session. At its best on Wednesday, it was up more than 280 points. However, it closed lower by 0.68% to 24117.6. “There really was no clear-cut reason for the sell off. My theory is that the market is sick of listening and needs action form Washington on trade,” said Jeremy in Counterstrike. “Traders speaking with their wallets and saying that we are all exhausted of these headlines, let’s get something done…or else we will sell the markets to force your hand. Both China and the U.S. will need to resolve trade or face the markets wrath,” he continued. In addition to the trade turmoil, we’re approaching the end of a quarter, which can be a crazy time for the market. We’re also getting close to the Fourth of July holiday next Wednesday. A lot of folks will be taking much or all of the week off, so they may not want to stick their necks out too far. Only one move in the portfolio today as Home Run Investor picked up a well-known name in movie theaters that’s got a good growth story and a lot of short interest. Read about it in the highlights section below along with some analysis from other services... Today's Portfolio Highlights: Home Run Investor: If you’re a moviegoer, then you know all about Imax (IMAX). This entertainment technology company designs and distributes systems for giant-screen theaters. Brian Bolan is hoping that it can also bring a giant return to the portfolio. This Zacks Rank #1 (Strong Buy) has a good growth profile and has beaten the Zacks Consensus Estimate in two of the last four quarters and while meeting once. The stock also fits in with the editor’s “get shorty” plan as it has a roughly 11% short interest level. Read the complete commentary for a lot more on this new addition. Healthcare Innovators: On a day like this, it almost seems impossible to have a double-digit winner. But Global Blood Therapeutics (GBT) found a way. On Wednesday, the biopharma company reported positive phase 3 data for its experimental drug Voxelotor for treatment of sickle cell disease. When Kevin bought this position back in May, he considered it a highly speculative play. It paid off today though as the stock gained 15.5%, easily giving this portfolio the best performing stock of the day among all the services. If the drug gets approved, the editor sees eventual sales of more than $1 billion and believes GBT could become an attractive M&A candidate. Momentum Trader: "Today, it’s taken me significantly longer to digest what happened. Frankly, half of me is still wondering, “What the $#@% just happened?!” This morning I was looking for tech stocks to continue to run up at the shorts, and the broad market to recover nicely. What we got instead of selling pressure across the board, punishing at every turn and accelerating into the close. "It wasn’t one of those days where the market is doomed from the start and you just throw in the towel. No, today was whack-a-mole time. Every rally met with a slap down. Every spike smacked with sellers. Into the close, it just felt worse and worse until, mercifully, the closing bell rang. Not the worst down day we’ve seen this year, but the most demoralizing for the bulls. "After being brutalized today, tomorrow will be an important day for the bulls. With 2,700 being violated on the spot S&P, we’ll have to see if the futures hold overnight. If so, we could be in for a nice little bounce into the weekend." -- Dave Bartosiak, who also handles Surprise Trader and Blockchain Innovators. Have a Good Evening, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. 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