From the market’s reaction today, you might think that it just hated the President’s long-awaited tax plan, as the major indices made a beeline to the negative side after it was announced. But that’s not the case. Certainly, this market would LOVE a 15% corporate tax rate. Instead, several of the editors consider today's selloff as a classic case of “buy the rumor, sell the news”. And it certainly did sell! The major indices each looked like they were putting together a third straight session of solid gains. But by the closing bell, the S&P had slumped by 0.05% to 2387.5, while the Dow slipped 0.10% to 20,975.1 and the NASDAQ declined 0.27 of a point (or 0%) to 6025.2. Interestingly, the Russell 2000 was up 0.59% to 1419.4. The market is aware that this is the first step in a long process that will hopefully end with passage sometime in late summer or fall. The plan could look very different by then, but it was good that we finally got some specifics from President Trump. Now it’s in Congress’ court. In the portfolios, Healthcare Innovators added two more stocks, bringing the portfolio to 8 positions with a lot more to come. Home Run Investor cashed in a double-digit profit and then replaced it with a stock that could be on its way to a 13th straight beat-and-raise quarter next week. Finally, Reitmeister Trading Alert added more to a position that dipped lower today despite a strong quarterly report. Learn more in the highlights section below: Today's Portfolio Highlights: Healthcare Innovators: Day 2 brings two more additions, giving this brand new portfolio a total of 8 names so far on its way to 20-25. On Wednesday, Kevin added AbbVie (ABBV). This large-cap pharma company is expected to beat estimates on both the top and bottom lines when it reports tomorrow morning. At around $65 per share, the editor really likes this entry price. The other buy is BioMarin Pharmaceutical (BMRN), which develops orphan drugs to treat rare diseases. The company recently received good regulatory news on both ends of the ocean for Brineura, a treatment for a fatal nervous system disorder. Shares have been moving higher this week, so Kevin decided to get in now while the risk-reward is still very favorable. Read the complete commentary for more specifics on each of these new buys. And don't forget to read the Guide for more on this new portfolio. Home Run Investor: It was time to get out of Prestige Brands (PCH) since it moved to a Zacks Rank #4, but Dave still made a nice profit of 16.8% on the position. The editor replaced the name by picking up 2U (TWOU), a Zacks Rank #2 cloud-based education company that has put together 12 straight beat-and-raise quarters. The next report is scheduled for next week, so Dave wanted to make the move now. Read the full write-up for more on TWOU, including a breakdown of its chart. Reitmeister Trading Alert: Steve loves when the market is “asleep at the wheel”. For example, Evercore Partners (EVR) crushed expectations by nearly 50% earlier today…and yet shares moved lower. Now the editor gets a chance to add more shares of this investment management & investment banking company, bringing the total allocation to 7%. Read the full commentary for more. Options Trader: “(The tax plan) was definitely well received (especially the corporate tax cut). But as I said yesterday, I wouldn't be surprised if the market pulls back a little after the announcement. Why? It's the classic 'buy the rumor, sell the fact' phenomenon. The market jumped on excitement that the tax plan was coming. But now that it was announced, it might be cause for some profit taking. Because it's not like it's going to be implemented tomorrow. It likely won't actually get passed until August or September (or so). And there's sure to be some revisions. Although, that's what the market has been pretty much expecting anyway. “And while the market is forward looking, it doesn't have to immediately price in every great piece of news immediately. “Over the coming months, the messy work of fleshing out the details of this plan will get worked out. But, as long as the corporate tax rate comes in somewhere in the 20% range (give or take a few percentage points) the market will celebrate it and the bull market will continue on. And it will ultimately usher in brand new highs for the market as analysts digest just how transformative a dramatic corporate tax cut will be for our economy!” -- Kevin Matras All the Best, 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. 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