- I am starting to sound like a broken record as Amazon and Netflix hit new highs today... but they went down along with almost all of technology stocks on Wednesday. Retail stocks were up again on Tuesday lead by Macy's and Best Buy, but they were slightly down on Wednesday.
- Tesla was down some on Tuesday, but with a positive shareholder meeting on Tuesday drove the stock dramatically higher on Wednesday blowing through to 321. I saw Tesla hit a bottom on Tuesday and thought that was a good time to buy a Call Option. You would be up so big if you had done that yesterday and held it today.
- Banking stocks led by JP Morgan were up on Wednesday as they appeared to be left out of the rally over the prior week. This was spurred on by rising interest rates on Wednesday.
- Boeing led the Dow Jones on Wednesday as it broke out to a new all time high.
- Alphabet (GOOGL) was under pressure on Wednesday as there is a threat in Europe of being fined for their integration in Android phones. It was flat on Tuesday and down on Wednesday. I believe it is still trailing other technology stocks and has much room to move upward for the next couple of days.
- I would expect to see more positive movement for banks over the next week. Oil stocks have lagged and have room to come back up also.
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