The Moskowitz Report (SYNA, FB, APC, RL, IR, BA, XOM, SHLD, BIIB, NVDA, COP, PCP, HDP, AAPL, SWIR, OXY, ANF, WYNN, AMZN, PSX, KSS, HUM, NFLX, RIG, WMT, MELI, TSLA, MRO, DDS) - Stock Market Commentary For Wednesday, June 14, 2017
Todays’ market was higher from the start. All the big names came out of the gate and made up for last week’s selloff. Market internals still favored the NYSE with volume and A/D both 2.5:1 while NASDAQ was just 4:3 and 2:1 respectively. While it wasn’t a particularly big day the oil made its low early and then moved $1 higher before coming back down to close near the highs and + .38. Gold followed the same pattern opening down $10 near $1260 before making a move to 1271 before closing $1268 unchanged but near the highs.
The S&P500 and the DJIA both closed a new highs by a small margin and stocks from all groups (except retail) took part with GOOGL+8.69, AMZN +16.52, AAPL +1.48, FB+2.53, NFLX +1.76, NVDA +1.69, TSLA +18.69 (helped by Ron Baron who likes it for $1000 by 2020), BA +1.60, and IBM -.07. Oil, as mentioned was firmer and the oils were mostly higher with CVX - .22, XOM- .23, APC +.92, OXY-.25, COP+.46, BP+.09, PSX+ .42, RIG+ .15 MPC+.13, MRO +.13, HES+ 67, and XLE +.14. Unfortunately the retailers didn’t fare as well with M-.02, JWN-.41, KSS- .28, WMT+.29, DDS-.77, RL-.55, SHLD-.18, ANF-.06, PCP-.06 and XRT +.11.
Other assorted movers were CAKE-5.75 (18%), SYNA-4.65, CBRL -3.58, MELI+2.70, IR+1.83, NAV-1.10, EFX+3.51, HUM +3.85, ALXN +5.87, BIIB -4.77, HDP+1.30 (10%), HRB beat and was +3.64, LOXO-3.80, OMER+2.48(14%), PCLN+31, OLED +3.20, SWIR+2, SSNC +1.38, WYNN +3.91and recently up 30%, and NTES 4.77.
All in all I very positive day that seems to be saying “buy the dips” is alive and well. However, tomorrow is Fed announcement day and while the rate rise seems in the bag, one never knows what the comments at the press conference will contain.
Tomorrow is another day...CAM
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