Daily Issue | jul 27, 2016
Stocks were slightly higher in quiet afternoon trading after the Federal Reserve announced that its rate-setting committee had decided to make no changes in monetary policy.
Earnings of major companies were largely positive but did not appear to be driving the narrative.
Tech and telecom topped gains, led by a 7.3% surge in Apple (AAPL), while consumer staples and energy lag. Crude oil were lower, gold was higher and Treasurys were higher.
Daily Issue | jul 26, 2016
Stocks failed to impress again today, particularly the large-caps. The Russell 2000 small-caps fared better, as did the Nasdaq, which managed a small gain despite Apple's (AAPL) 0.7% decline ahead of its quarterly report after the close. So far, though, its numbers have been well received, with the stock up 6.7% in after-hours trading.
Overall, earnings have been mixed and include a revenue miss for Verizon (VZ) that hit the shares hard, along with those of its telecom peers. Utilities and consumer staples also lagged, while materials and industrials are leading the gainers. Bonds were higher as Fed officials began their two-day meeting.
In today's Trader's Advantage, I'm canceling an unfilled buy order, then I'll provide my latest instructions for my other recommendations.
Daily Issue | jul 25, 2016
Stocks were lower today, as were Treasurys, gold and crude oil. Kind of a downer all the way around on light volume; a typical summer session. Don't make too much out of it.
Consumer discretionary was the only positive sector, lifted by retailers, and semiconductors led the technology sector. Biotech improved as well, with Gilead Sciences (GILD) and Celgene (CELG) at the front. In today's Trader's Advantage, I'll report on an exciting trend in that field that I'll be monitoring closely for trades. Then I'll provide my latest recommendations for current positions.
Daily Issue | jul 22, 2016
The market is mostly humming along, and so is the economy, as we have seen positive data points released over and over again in the past week.
It’s beginning to look like the United States is really gathering steam and will be stronger than the current consensus by Election Day in November. Bulls have been happy to see both new highs in equities and economic news releases that are largely better than expected.
In today's Trader's Advantage, we took half profits on one trade; I'll provide my second target and my latest instructions for the balance of our Buy List as well.