The Moskowitz Report (NUGT, FB, BAC, AAPL, GLD, TSLA, BA, JPM, NFLX, GS, IBM, GOOGL, AMZN) - Stock Market Commentary For Thursday, March 16, 2017
Welcome back Goldilocks!! We had the best of all worlds today when the Fed made their announcement of a .25% rate hike. The street got the message that the FED actually realized that the market could take it in stride, the bonds market (which had already done the FEDs work for it) had already moved the 10year from a base around 2.10% up to 2.61 took off to the upside as adjusted its yield lower by 8 or 10 basis points, and finally, to match our thoughts (and positions) rallied the gold from under $1,200 to trading tonight around $1,222. This should be considered a successful test of the $1,200 level as discussed the past several night’s notes. We sold half of the GLD calls but none of the NUGT.
The oil, which turned on yesterday’s API report continued higher and has moved from $47 to trade tonight over $49.10. The only group that didn’t get a lift from the news was the financials. GS -.64, BAC -.10 but JPM + .37.
The big guys were moderately higher with GOOGL +2.48, AAPL +1.54, AMZN -.22, BA - .02, TSLA +3.03, IBM +.83, NFLX +2.13, and FB +.59.
NYSE internals were dramatic, with the A/D 6.5:1 and volume 5:1 while the NASDAQ was subdued at 2.5:1 and just over 2:1.
All in all it was a pretty good day without much to complain about…..
Tomorrow is another day...CAM
Contact Information or to Subscribe to The Moskowitz Report:
Cell: (617) 827-1296