The Moskowitz Report (SPY, AMZN, V, SCO, GS, SHLD, ETFC, AAPL, PFPT, WMT, TSLA, BBT, IBM, BAC, AXP, JCP, GOOGL, MAT, AGQ, FB, M, JPM, DDS, BA, XRT, JWN, NFLX, RL) - Stock Market Commentary For Friday, April 21, 2017
Today was strong right from the start and we were totally prepared for it holding 2 separate positions in the SPY 4/235 calls. We had an average cost of $ .29 and sold the first half @ $.57 and the second half @ $ .80 while they closed around $ .68.
There were more earnings today and the shining stars were Visa (V) +3.98, E-trade (ETFC) +1.88 and last night’s AXP +4.67. BB&T beat and was +1.10 but Proof point beat not by enough I guess and PFPT was trading -1.34 last time I looked. Mattel (MAT) missed and is -1.40. The other financials were higher with GS +3.97, JPM+1.09 and BAC +.34.
With the exception of RL- .28 and SHLD -.30 the retailers were all higher again. M +.94, JWN +1.17, WMT +.68, DDS +1.86, JCP +.15 and the XRT +.79. The big names were higher with the exception of TSLA -3.01 on news that it was issuing a recall on 53,000 of their Model S and X (half of last year’s production). GOOGL +3.49, AMZN +2.31, AAPL +1.77, FB +1.40, BA +1.20, NFLX +1.34 and IBM +.61.
Market internals were 3:1 volume and 2.5:1 A/D on both the NYSE and NASDAQ, with all of the indexes higher on the day. The DJ Transports led the way + 1.67% followed closely by the Russell +1.24% and the NASDAQ +.92%, DJIA +.85% and finally the S&P500 a still respectable .85%.
We are maintaining our positions in the AGQ and SCO and issuing new sell stops in the Sunday night letter or via the free texting service.
Tomorrow is another day...CAM
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