The Moskowitz Report (MOS, BA, SBUX, IBM, GOOGL, TSLA, AMZN, GS, NFLX, AAPL, JPM, BAC) - Stock Market Commentary For Friday, January 27, 2017
It was pretty quiet today. Fortunately we sold the balance of the MOS call position yesterday @ $1.92, since the stock opened lower today by $1.26 and then continued lower. Our sale was followed by a move to $ .95 and a close @ $1.08-.88. A little later in the day I bought the stock @ $31.46 at what I consider support. I’d probably add again if it moves to $31, but it has already closed the gap from the break to the upside and the options will start to look attractive if we stabilize.
The market was really a non-event. We are due a rest and that’s exactly what we got. The Dow was +32, a meaningless amount and the S&P -1.69, NASDAQ -1.16, Russell-6.84, and the Transports made a new high and high close +48.
In the big names GOOGL miss “expectations” even though they beat and it is trading down 30, SBUX same store numbers missed and it’s down 2.50. Most of the others are little changed. AAPL+.10, NFLX -.87, AMZN -1.02, GS +1.95, BAC -.08, JPM +.73, TSLA -2.67, BA + 1.48 and IBM + .32.
The internals matched the action with the NYSE finished 1.5:1 down volume and 14:15 A/D. NASDAQ was even close with volume barely 8.5:9.3 down and 1:1.4 A/D. All in all just one of those resting days...CAM
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