A drop in oil prices weighed on energy today, though moves in major indexes were muted as investors waited for hints from the Federal Reserve on when it will begin to raise interest rates. The fed is set to issue a monetary-policy decision on tomorrow afternoon at the conclusion of its two-day meeting. Its pretty much in the bag that they wont raise rates, the eyeballs though will be on their message.
There has been very little movement so far this week as the market waits for the fed and today they waited on AAPL earnings.
After the close, AAPL reported a good #, not off the charts great, but good. The stock rallied several points in the aftermarket, gave it all back and ended up closing about flat in the after hours.
GILD was another important earnings report after the close and it closed down slightly after hours.
The big miss though was TWTR, a stock on our list. This one was my bad as I didn’t know earnings were reporting tonight, as you know I rarely if ever trade through earnings. Anyway, it will open a bit below our stop tomorrow, so I wont make a decision on this one until tomorrow, but I will let you know as soon as I know.
Energy was weak ass I said, but coal just imploded as BTU, CNX and WLB continued lower. These are still shorts, but wait for a bounce.
See you in the morning.