The Moskowitz Report (APC, TSLA, M, GS, FB, JWN, JPM, AAPL, KSS, GOOGL, WMT, AMZN, DDS, BA, RL, XOM, NFLX, SHLD, IBM, JCP, XRT, BAC) - Stock Market Commentary For Tuesday, April 11, 2017
Today was a classic holiday shortened week day with low volume and an inability to maintain a gain that the market mounted not once but twice. We opened higher and rallied to +90 and sat, fell back to slightly lower by midday and again rallied to +75 only to fall back to close basically unchanged. The A/D on NYSE was almost 2:1 positive while the NASDAQ was 14:13 DOWN. That’s quite a divergence for a market that is tech-heavy and has led the way all year.
The big names were mixed with GOOGL -.40, AMZN+13.11, AAPL-.19, FB+.23, BA-1.40, TSLA (again upgraded)+9.68, NFLX+1.19, IBM-.94; financials also mixed with GS+1.12, but JPM-.20 & BAC-.14. The S&P500 again tried to break above the halfway mark from last Wednesday’s reversal and finished up a dismal 1.62 or .07%.
Oil continued strong with APC+.46 and XOM+.45. Retail finally had a good day. Maybe a “dead cat bounce, maybe just so bad it looked good. M+.42, JWN+.87, KSS+.90, WMT +.24, DDS+1.99, RL+1.25, SHLD+.53, JCP+.24 and the XRT+ .60.
All in all a great showing for a badly beaten down group.
Tomorrow is another day...CAM
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