The Moskowitz Report (LOXO, AAP, FB, CVX, KSS, SJM, TGTX, ORLY, TSLA, APC, WMT, BLUE, AZO, AAPL, RIG, DDS, HL, ACOR, NVDA, BP, JWN, PBYI, GOOGL, PSX, RL, JUNO, NFLX, MRO, ANF, SHLD, INCY) - Stock Market Commentary For Tuesday, Jun 06, 2017
Todays’ market was like watching paint dry. While it was a religious holiday in much of Europe, it seemed like everyone everywhere took the day off. The high and low in the S&P 500 took place in the first 25 minutes and that was it. The internals were about the same on both NYSE and NASDAQ with both slightly negative volume, but A/D were both 5:9 negative.
This weekend was the ASCO annual meeting in Chicago and there were several big winners in the premarket this morning with LOXO +21.14 (43%), TGTX +1.60 but finishing unchanged, BLUE +7.15. ACOR +2.75 (20%) on Parkinson’s drug, and PBYI +10 pre-open but closed +1.7. JUNO -2.81 was a loser as was INCY -7. Also on the loser side of the ledger were the Auto repair retailers with AZO-5, ORLY -7, and AAP -2.30 on the news that Carl Icahn wants to consolidate the repair business and sell the parts from his already owed Pep Boys and Federal Mogul.
The big names were mixed to higher with GOOGL +7.73, AMZN +4.37, AAPL -1.55, FB -.01, NFLX - .12, TSLA +7.40, NVDA +4.37, BA -1.73, and IBM +.36 Financials had a little bounce with GS+.69, JPM +.83 and BAC -.06.
Energy bounced overnight on the news out of QATAR but fell back early and during the first half of today. After a rally back about halfway and finished down only $ .26. The stocks also lifted and finished mixed with CVX +.01, XOM + .62, APC -.42, OXY -.70, COP -.24, BP +.17, PSX +.50, RIG + .05, MPC +.26, MRO +.06, HES +.36 and XLE +.10.
Retailers were mixed to lower with M +.05, JWN -.77, KSS -.58, WMT + .53, DDS - .05, RL +.03, SHLD -.35, ANF -.40, JCP +.07 and XRT -.01.
We sold the balance of our SJM calls +80% and added some HL 7/6 calls @ $.23 on an order in the weekly letter from last night.
Tomorrow is another day...CAM
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