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Afternoon Note

Tight Trading Range

By Charles Payne, CEO & Principal Analyst
9/21/2017 2:05 PM
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It’s been a very tight trading session with industrials and financial edging higher, but offset by consumer staples as packaged food stocks continue to take it on the chin. Today General Mills (GIS) is leading staples lower.

Big banks moving higher, acting as something of a safe haven as dividends are safe and there is potentially more reward than risk. On that note, Apple (AAPL) has come down a lot and it’s a name I consider safe haven. Stories of short supply or demand always materialize after new produces are announced. I bet there are bugs in the new watch that will be fixed. I think the stock is a buy/hold. 

S&P 500 Index

-0.13%

Consumer Discretionary (XLY)

-0.04%

 

Consumer Staples (XLP)

-0.75%

 

Energy (XLE)

 

+0.06%

Financials (XLF)

 

+0.20%

Health Care (XLV)

-0.26%

 

Industrials (XLI)

 

+0.27%

Materials (XLB)

-0.05%

 

Real Estate (XLRE)

-0.06%

 

Technology (XLK)

-0.24%

 

Utilities (XLU)

-0.01%

 
 

Lots of names are coming out of momentum today and seem to be moving to the sidelines, but it is fast money that will not chill out for long.
 


 

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