Market 2017-12-29 （Year-end Summary and AAPL）

Market faces some selling pressure today as year of 2017 ends. Overall, it has been a good year. S&P 500 +19.5%, Dow Jones +25.2%, Nasdaq +28.3%. I have been able to beat S&P 500, but shy from Dow Jones or Nasdaq. The reason of under-performing is that I have been holding 20 ~ 50% cash throughout the year. I was too cautious during the 2nd and 3rd quarter.

I have updated my portfolio and explain the changes in this blog. (Link HERE)

Yesterday Apple (AAPL -1.1%) published an apology letter. Apple is offering $29 (discounted from $79) replacement batteries for those with an iPhone 6 or later. The discount, starts in late January and ends in December 2018. Nevertheless, the lawsuits are still need to be answered or settled. Lots of customers are still mad. Samsung and LG join HTC and Motorola in saying the companies don’t slow the performance of phones with older batteries. Well, Apple is trying to save their reputation by apologizing, it raises another question. If customers go to their stores to change batteries, lots of them will delay their upgrading to newer models, although they will stick with iPhone.

The oil rig count remained unchanged at 747 for the second straight week, while gas rigs fell by 2 to 182.

Crude +0.67% to $60.24. Gold +0.59% to $1,304.90. Both finish above resistance.

Winners

UNG +1.1%, It is -10C in New York --- traders feel the cold. It will be cold in January.

TiVO +11.4%, following a report by TheStreet.com that several potential P-E buyers have expressed interest in a buyout that would be slightly more than $20/share.

Losers (to many to list)

Tech and Healthcare Sectors are broadly weak today.

WTW -6.5%, UAA -7%, UA -5.8%, M -2.1%.... I believe some profit-takings happen today.


My Trades Today

Added GILD @ $71.8

Added MOMO @ $24.4

Initiate position in FRC @ $86.6

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