Market 2018-03-16 (UTLA, WDC, NKE, and more)

As threat of trade war lingers, market is lack of fuel to march north. I think a correction in Tech Sector may come sooner or later. 

 Dow Jones outperform Nasdaq again today. Among the 30 companies, best are WMT +1.9%, AXP +1.3% and CAT +1.2%; worst are NKE, CSCO, UTX and UNH, all -0.7%.

Among FAANG, FB is the only one finished green.

For the week, Dow -1.5%, the S&P -1.2% and the Nasdaq -1%.

 Crude +1.75% to $62.26. Gold -0.32% to $1,313.60. Treasury yields rise a little bit, TLT -0.35%. US Dollar gains slightly, UUP +0.25%.

Winners

ULTA +7.6% after a sharp drop after ER yesterday, helped by the bullish view from analysts: Jefferies adds Ulta to its Francise Pick List; Telsey has PT of $260; Stifel has PT of $225.

 WDC +4.1%, MU +3%, both get boosted from upgrades.

X +4%, it is always volatile.

Airlines are up today. Wolfe Research calls Southwest Airlines (LUV +1.6%) and Delta Air Lines (DAL +0.6%) the consensus picks as an airline target for Warren Buffett, which was exactly what I said 3 weeks ago after BRK earnings. UAL +1.1%, AA +0.6%.

Losers

Tiffany (TIF -5.1%) despite ER beats: Q4 EPS of $1.67 beats by $0.03. Revenue of $1.33B (+8.1% Y/Y) beats by $20M.

AVGO -4.8% after Intel CEO denied takeover interests.

OSTK -5.2% continues its slide after a horrible holiday.

TSLA -1.3%, having a 4-day decline, and 30-day chart looks very bad. It could easily fall to $250 or lower if it breaks $300.

Nike (NKE -0.7%) president Edwards steps down as company reviews improper conduct.  Vice President and General Manager of Global Categories Jayme Martin was also forced out of the company due to inappropriate behavior at the workplace.

My Trades Today

Added TELL @ $7.1

Next Week

Fed will hold meeting on Monday and Tuesday. Rate hike is expected. However, market will react to the tone, either dovish or hawkish. On the trades, China may fight back soon as the 15-day negotiation window is closing. It will be another volatile week.

Correction: meeting will be hold on March 20-21, Tuesday and Wednesday.

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