The Moskowitz Report (APC, FB, CVX, AAPL, XOM, AMZN, JPM, PANW, GS, AMBA, BAC, AA, GOOGL) - Stock Market Commentary For Thursday, March 02, 2017
Really, what can you say about up 300 and all of the indices participating, even the Transports and the Russell? 28 of the 30 DJIA stock higher on the day, 19 of 20 Transports, can’t really argue with those kind of numbers.
The President acted presidential last night and the result was that confidence was given another shot in the arm. Even Matt Lauer on the Today Show this morning shamed Chuck Schumer by repeatedly pressing him (quite incredulously) “you mean there was NOTHING you heard that you could support?” Just more politics as usual.
But even that couldn’t stand in the way of 2.5:1 A/D and volume on the NYSE and 3:1 on NASDAQ. Unless you owned PANW (115.34 -36.56) or AMBA (56.29 -2.66) you weren’t red on my screen today. Green was clearly the color of the day.
GOOGL +11.82, AAPL +2.80, AMZN +8.04, BA +3.68, IBM +2.08, FB +1.77. While oil was slightly lower the stocks dug in and moved with the market; APC +1.37, CVX +1.38, and XOM +1.72. Even lowly AA, refugee from the DJIA +3.56 or 10.29%.
Financials rounded it out with GS +5.28, JPM +3.03, and BAC +.95.
The only disappointment for me was the metals, but even the gold held the 1238-1240 area that was prior resistance and while it was lower on the day it closed above those prior highs of 1246 and ended 13 off the lows and 1.40 from its high. A very good performance in my book.
Tomorrow is another day...CAM
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