Major averages rose Friday on mixed options expiration volume. The NASDAQ-100 closed at an all-time high though finished roughly mid-bar as did the other major indices. Meanwhile, the Dow Industrials undercut its minor low of December 30 on January 19, then rallied on inauguration day. Many pundits are calling for a 10% "sell the Inauguration" correction, but we would only focus on the action of individual stocks.
Our Focus List has grown fast since the election and most names continue to act well. Technology juggernauts such as FB, GOOGL, NFLX, and AMZN continue to trade constructively.
In earnings news, disappointing earnings news from HAL and MCD sending both lower. QCOM is also down on a lawsuit launched by AAPL.
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