The Moskowitz Report (APC,TSLA, BIDU, PRGO, REGN, BAC, COP, IBM, WB, BIIB, AZO, WFC, PSX, SIG, AAPL, SINA, JILL, PANW, ORLY, GS, OXY, GOOGL, MELI, HPE, AAP, C, RIG, FB, BABA, BOX) - Stock Market Commentary For Thursday, Jun 01, 2017
Todays’ market started to the upside and turned down making its high and low for the day all in the first 40 minutes of trading. After that the S&P 500 had several 5 or 6 point rallies and declines and finished the day -1.48. DJIA -20.82, NASDAQ -4.67, DJ TRANS +.24, and the RUSSELL -.98. The internals were flat with NYSE 6:8 volume and 1:1 A/D, and NASDAQ 10:11 and 14:14.50 respectfully. But the surprise of the day was the high-flying tech names with GOOGL -1.70, AMZN -9.08, AAPL -.82, FB -.83, NFLX -.07, TSLA +5.91, BA +.75 and IBM +.90.
Some of the foreign names followed suit with MELI -4.79, SINA -3.37, WB -1, BIDU -3.78, and BABA -1.45.
Earnings driven stocks were mostly higher with ADI +4.34, PRGO +4.93, and JILL +1.48 while KORS was -3.09, HPE –47 even though it beat top and bottom lines, BOX + .45 and PANW +14 after the close.
Some of yesterday’s losers rebounded with BIIB -4.25 yesterday +1.23 and REGN -6.50 and +10.39 today. The auto suppliers fell again after a brief rebound hit the skids again AZO -7.06, ORLY -555, and AAP + .64 after being up $2.
But the biggest losses were in energy and the financials. C-1.10, WFC -1.02, GS -7.16, JPM -1.75 (we got stopped out), and BAC -.44. The oils were lower except MPC which announced a $3 billion buyback gained .58, CVX -.58, XOM -.60, APC -.24, OXY -1.19, COP -.10, BP -.10, PSX -.89, RIG -.16, MRO + .03, and HES -.78.
We also added some calls in SIG for a bounce here with its short interest of 13.2%, a long decline and 6 down days, oversold and at the bottom of the Bollinger Bands.
Tomorrow is another day...CAM
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