The Moskowitz Report (DSW, TSLA, AMGN, XRT, OXY, ISRG, MRO, RDFN, NVDA, VRTX, SHLD, CVX, VRX, NKE, APA, COTY, AAPL, BIIB, KSS, COP, ICPT, CLVS, NUGT, OAS, NDSN, SRPT, WMT, RIG, ATHN, FOSL, RDS.A, TEDU) - Stock Market Commentary for Wednesday, August 23, 2017
Well, today’s market strong overnight and then it was up from the start, building all day until it closed almost on the absolute high of the day. DJIA + 196.14 (.9%), S&P500 +24.14 (.99%), NASDAQ+84.35 (1.36%) and the RUSSELL+14.63 (1.08%). Market internals were a solid 3:1 volume and A/D on the NYSE and a like amount on NASDAQ.
The lagging big names came to life with GOOGL+20.08, AMZN+13.61, AAPL+2.64, NFLX+1.73, NVDA+3.49 (we own 165 calls bought yesterday), TSLA+3.52, BA+4.07, and IBM+.68.
Also shining today were the Bio Pharma names with the IBB+5.77, CELG+2.88, ALXN+4.77, REGN+8.47, SRPT+1.22, VRTX+6.47, BIIB+ 3.57, AMGN+1.91, INCY+2.97, ISRG+13.90, TSRO+1.76, ATHN+1.79, CLVS+.90. ICPT+1.63 and VRX+.35.
Retail was buoyed by a change at the top at Macy’s and helped the whole group with M+.89 (4.6%), JWN+.75, KSS+.82, DDS+1.75, JCP+.10, SHLD+.42 (4.9%), WMT+.31, and XRT+.52. The brands were also higher with RL+.42, PVH+.29, KORS-.15, FOSL-.03 and NKE +.52.
On the earnings front DSW beat and was +2.74 (17%), MOMO beat but guidance was poor and it was -9.06 (20%), RDFN a recent new issue was initiated with price objectives from $24-31but closed -2.29(8.3%), BZUN beat but was lower by 9.06(24%), NDSN -13.62 (11%) on poor outlook, COTY -1.84 after being down 3 on lower sales, and TEDU-4.50 (24%), and LZB IS -5.00 on a miss, and CRM -.75 on a beat.
We had to sell half of the M 9/20 calls at $ .80 on the 100% Up Rule, and the above mentioned NVDA 8/25 165 calls ($ .67 average) closed $ .93 + .24.
On the commodity side oil was another short range day but closed slightly higher and the stocks followed with CVX+.60, XOM+.30, APC+.23, OXY+.33, COP+.69, BP +.15, PSX+.34, RIG+.20, MPC+.23, MRO+.13, HES+.52, PXD+.14, APA+.58, OAS+.04, CXO+.94, RDS.A+.40, and XLE+.41. GLD was lower by .93. NUGT-.89, SLV-.01 and Copper was + .01.
Tomorrow is another day...CAM
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