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D&D Note

D&D Note (3.12.2018) ~ Markets Pause & Kudlow Maybe to White House ~

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D&D Note (3.12.2018) ~ Markets Pause & Kudlow Maybe to White House ~

Markets took a breather today after starting the day up following Friday’s rip from the job report. Boeing was the largest drag on the DOW with the stock both seeing profit taking after a massive run and pressure from tariff’s fallout.

Larry Kudlow has been rumored to be the top pick in line to replace outgoing NEC Director Gary Cohn. This would be a welcome addition to the White House in the form of another free trade believer in the top economic role.

The semiconductor sector is breaking out from a 20 year dot.com peak which is extremely bullish. Specifically MU has also had a technical chart breakout and received a new price target upgrade to $100. The stock finished up 8.76% on the day. D&D closed out our position in MU last December on fears of a slowing DRAM demand. However, since then we have seen strong sales in PC’s and Data Centers which use Flash memory. D&D will look to get back into Micron on current weakness as the stock is near term overbought. We also remain long TSM and NVDA.

AMZN hit it’s price target of $1,600 an all time high today but the price proved to be resistance at the upper channel of recent trading and pulled off to close below $1,600. D&D has an overweight position in Amazon and will look to lock in some profits this week.

The portfolio’s top two holdings APHQF and TWMJF remain overweight and we will continue to take profits in both on rallies.

The markets have hit a period in which there is lack of news events before the FED has their March meeting. The VIX reversed and rose today showing there are still concerns we can just as easily retest February lows or take out the highs.

 

D&D movers:
– TWMJF up 4.55%
– APHQF up 2.41%
– NVDA up 1.81%
– IMLFF up 1.60%

– EMHTF down -3.26%
– BA down -2.91%
– HON down -1.28%
– UNH down -1.18%

Indexes
– DOW down -0.62%
– NASDAQ up 0.36%
– S&P down -0.13%

Sector Movers:
– Real Estate up 0.49%
– Utilities up 0.42%
– Technology up 0.30%

– Industrials down -1.17%
– Health down -0.44%
– Financials down -0.40%

Notes
– US 2-YR 2.262% (down -0.004)
– US 10-YR 2.866% (down -0.028)
– US 30-YR 3.128% (down -0.031)

Volatility
– VIX 15.78 (up 7.79%)

Crypto (1:00 PST)
– BTC $8,931.01
– ETH $685.48
– BCH $1,029.57
– LTC $176.84

Metals
– Gold $1,323.90 down -0.01%
– Silver $16.55 down -0.35%
– Copper $3.1215 down -0.46%

Energy
– Oil $61.37 down -1.08%
– Brent $64.96 down -0.81%
– Nat Gas $2.786 up 1.98%

About ddinvestments

Trading Partner for D&D Investments

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