The Moskowitz Report (FB, JCP, IBM, AXP, M, JWN, TSLA, ISRG, AGQ, BA, AMZN, SCSS, DDS, NFLX, QCOM, KSS, GDX, EBAY, SHLD, GOOGL, CSX, URI, WMT, AAPL, RL, XRT) - Stock Market Commentary For Thursday, April 20, 2017
Today was another earnings driven market with the IBM selloff carrying over to open the DJIA lower and keeping it down all morning. The other indexes did not follow and the NASDAQ, S&P500, Russell and the Transports held up well until later in the day when the price of oil started to fall. By the close the oil was down 3.5% and the DJIA was lower by 118 and the S&P -4.02 with only the NASDAQ+13.56, the Russell+5.24 and the Transports +43 but closer to the low than the high. We own the SCO (3XOil Inverse ETF) @ $35.05 which closed $36.37.
Market internals were split with the NYSE just negative on both the A/D and volume but the NASDAQ 1.5:1 volume and A/D. The Gold was also lower with the minor strength in the US$, and our position in the AGQ is still a slight profit. I am looking at support about $10-12 lower to repurchase the GDX (gold miners) on that dip.
The earnings continued today with some winners: AXP+1.46, ISRG +51.96, SCSS +4.26, QCOM +1.33, and CSX +1.64. Some losers were EBAY-1.06, and URI -7.61.
Retail was higher after the Philadelphia Fed Report on Consumer confidence with M +.38, JWN +.45, KSS+.35, WMT+.16, DDS+1.45, RL+.47, SHLD-.03, JCP-.14, and the XRT +.25.
The big names were mixed with GOOGL +2.52, AMZN-4.86, AAPL -.46, FB+1.29, BA+.55, TSLA +5.25, and IBM on its follow-thru from last nights’ earnings -8.08.
Tomorrow is another day...CAM
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