The Moskowitz Report (JPM, GPRO, BA, AMBA, MS, AXP, INTC, GOOGL, MBLY, FB, GDX, AAPL, GS, NUGT, AMZN, IBM, BAC) - Stock Market Commentary For Tuesday, March 14, 2017
Today was a typical pre-Fed day. I had more excitement when I had my new condo painted and hadn’t had my cable installed yet. The internals were unimpressive and balanced with the NASDAQ faring slightly better than the NYSE. Mobileye (MBLY) was the star with INTC buying the company for $63.25 or a scant 35% premium from Friday’s close. AMBA got dragged along (we own it higher) and closed $56.67+3.87 on spec that it might be the next takeover. AMBA gets a bad rap from being involved with GPRO, down from its high of $98 to make a new low today of $7.53.
Also another mixed day for the big names; GOOGL +3.17, AAPL +.11, AMZN +2.14, BA failed to fall in a downgrade from MS and closed + .48,tsla +3.11, IBM -1.27, and FB +.81.
Financials were mixed with AXP -.29, JPM + .03, GS - .17 and BAC unch. The Metals trade is still soft but the actual gold commodity looks like it is trying to dig in and the GDX was slightly high by .27. Oil is trying to hold too, but the actual traded below $48 before climbing back to $48.40 – only $ .06. Both are oversold and I got long the GLD and NUGT today around closing prices..
Tomorrow is another day...CAM
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