The Moskowitz Report (SPY, VRX, RDS.A, AAPL, SRPT, CVX, BAC, TSLA, CLVS, APA, AMZN, BIIB, MPC, JPM, GOOGL, REGN, BP, NVDA, AMGN, COP, TSRO, RIG, IBM, ALXN, PSX, C, CELG, OAS, NFLX, INCY, CXO, XLF) - Stock Market Commentary for Thursday, August 17, 2017
Well, today’s market was up again at the open but had trouble gathering momentum. It could only approach the highs around 247.50 in the SPYs and it managed to climb back after the two declines, The Trump disbanding of the CEO panel and then the Fed minutes. We bought the puts @ $ .60 vs. 247.30 and when they wouldn’t break the prior days close we sold the puts @ $.84. This market keeps clawing back and managing to move higher. All of the indexes were slightly higher but less than .20% and the internals, while positive were not impressive at 1.4:1 volume and 1.5:1 A/D on the NYSE and 8:5 and 15:13 respectively on NASDAQ.
Oil tried the upside but couldn’t make it thru $48 and then fell and closed below $47, and is trading + .05 in the overnight session. The stocks were down across the board with CVX-.69, XOM-.69, APC-.71, OXY-.97, COP-81, BP-.22, PSX- .26, RIG-.26, MPC-.89, MRO-.30, HES-1.45, PXD-2.07, APA-.99, OAS-.14, CXO-.53, RDS.A-.31 and XLE-.61.
Financials were also weak, especially after the dovish Fed minutes when the bond yields fell. GS was -2.22, JPM-.67, BAC-.28, C-.40, and XLF-.05. The big names were mixed to weak also with GOOGL+4.90, AMZN-6.49, AAPL-.82, FB-1.26, NFLX +1.27, NVDA -2.48. TSLA +.77, BA -1.67, and IBM +.41.
As with everything else, the Bio / Pharma’s were mixed with IBB+.77, CELG-.27, ALXN+1.34, REGN-4.03, SRPT +.81, VRTX-1.35, BIIB +6.09, AMGN +.36, INCY +3.53, TSRO-1.01, ATHN +1.67, CLVS-.08, ICPT +1.31 and VRX +.42.
I am still feeling mixed about the market and will continue to take advantage of the low volatility and trade the SPYs. Individual stocks will be the feature in the Weekly Statistics on Sunday and as always, subscribers can take advantage of the Text Alerts during the week.
Tomorrow is another day...CAM
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