Market 2018-01-04 (DJI 25k, LB, and more)

Dow Jones reaches another milestone, finished above 25,000 for the first time. In 2018 so far, three indexes all passed some psychological numbers. Some analysts are predicting a near-term melt-up.

Energy Sector is breaking out, outperform others again. Tech is taking a break after two strong days. Fixed income (Utilities and REITs) are lagging.

Treasury notes price are relative stable this week. Dollar drops. Crude +0.45% to $61.91. Gold +0.39% to $1,323.70. 

Winners

Microchips story continues, AMD +4.6%, IBM +2%, NVDA +0.5%, MU +4.2%. On the other hand, INTC -1.8%.

Chinese Tech: BABA +0.9%, WUBA +1.8%, MOMO +3.8%, YY +2.2%, XNET +18.9%...

GE (+2.1%) has finally won some investors back. +6% YTD.

General Motors (GM +3%) says deliveries in China shot up 13% in December

Losers

UNG -4%. This is unexpected as the winter storm is hitting most of US. Actually spot price spikes today.

INTC -1.8%. I am not sure how low it can fall, although it managed to trim some losses in both trading days.

WDC -0.6%, downgraded by BMO Capital from Outperform to Market Perform and drops PT from $120 to $85. It fell more than 2% in the morning.

Roku -7.6%, as Morgan Stanley cuts to Underweight, valuation "hard to justify".

Retailers took a hit: LB -12.3%, FL -3.3%, M -3.3%, KR -3.1% ... LB, Macy's, Costco all reported strong data of holiday season. I think it is profit-taking and so called "sell on the news". This could be another entry point to own retailers in your portfolio.

UNFI -11.1%, I don't know the reasons

Walgreens (WBA -5.2%) revenues +8%, non-GAAP EPS +16% in Q1. The selloff could be buying opportunity.

IBB -0.8%, GILD -1%, CELG -2.3%...

My Trades Today

Added M @ $23.8, with EPS >$3, I am buying the dip. (Recently sold a lot of shares above $26)

Double MAA @ $97.4. MAA -3% today due to a broad selloff of REITs.

Sold MOMO @ $27.6. In the chart, it hits the ceiling of descending channel from August 2017. If it cannot break out, the price is likely to go down again in near-term.

Sold CVS @ $76.6. I will buy back if it falls below $73

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