Market 2-17-11-20 (BABA, IBB, GLD, and more)

After back-to-back bounce-back from big early drop last Thursday and Friday, bears were defeated again. Market welcomes Thanksgiving in good mood. All three indexes finish green. However, Energy (USO -0.6%, UNG -2.5%), healthcare (IBB -0.9%) and Utilities lag. Gold also retreats.

Winners

Some Chinese tech stocks rally, for instance, BABA +1.6%, YY + 9.7%, XNET +25%, SINA +2.6%, WB +4.1%, MOMO +5.5%, SOGO +2.7%.

As I said after NVDA ER, there is plenty room for NVDA to go up. NVDA +1.3% today, also MU +3.2%, MLNX +2%, LRCX +2.2%, AMAT +2%.

Department stores keep their run going, M +2.2%, JCP +1.2%, KSS +1.4%, JWN +1.4%.

PANW Q1 EPS of $0.74 beats by $0.05. Revenue of $505.5M (+27.0% Y/Y) beats by $16.5M. +6.8% AH

URBN Q3 EPS of $0.41 beats by $0.08. Revenue of $892.77M (+3.5% Y/Y) beats by $31.77M. +2.2% AH (was up 6%)


Losers

Biotech headwind continues, IBB -0.9%, BIVV -9.5%, CELG -0.9%, BIIB -1.4%. Current correction is very similar to the one in 2016 Sept and Oct., when IBB dropped from $300 to$250. IBB then had a run from $250 to $340 in less than a year. I think IBB has a strong support @ $300 and the up-trend is coming soon.

Gold is facing resistance @ $1300, GLD -1.3%, DUST +3.6%. 

 A Q4 EPS of $0.67 beats by $0.05. Revenue of $1.19B (+7.2% Y/Y) beats by $20M. -4.2% AH due to soft guidance.

My Trades Today

Sold all remaining MAT @ $19.2. I quit my position in MAT due to the uncertainty of take-over deal.

Increased 50% OHI @ $26.6.

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