Indices are close to unchanged levels... Nasdaq & S&P 500 showing color green......
Economic data points were weaker than expected......Indices are NOT reacting badly @ all....
Gold UP $8.60
Oil UP 59 cents
Canadian $ UP 34 tick to $98.43 as Canadian GDP was stronger than expected..UP 5 months in a row.....Growth for the month was .6%.... fastest in 3 years
In my portfolio :
Sold VXX...after studying its tape & doing research..i found that this stocks does NOT give better play on downside... VXZ tracks VIX more closely...but its thinly traded...
Bought MU @ $10.65...it reports AH expectations is 24 cents & next Q is 27 cents..expecting it to beat & guide higher than consensus.....
APWR reported ..it was a beat on EPS.. BUT a MISS on sales & guidance.....I am keeping APWR as they have ratcheted down expectations and may be Under Promising ..a better strategy than Over Promising.....Guiding $380 million in Sales & $1.00 in EPS...so it is trading @ 10 PE.....have seen support in $10.35 area......
Portfolio is QID,APWR,MU......
@ 12.14 following are green :
QID,SOLF,SLW,EGO,GOOG,TCK,VXZ,
CREE,SINA,RCI,IPI,MA,V,GG,SU,LVS,
EXPE,FMCN,ECA,ICE,NDAQ,AEM,ABX,
NYX,LDK.....
BLOG does NOT give buy or sell.
Saleem
6 comments:
SALEEM
Good day kind sir!!!!!!!
I like MU
MSN gives it a 10 in ranking-wow
S&P gives it 2 stars
But IMHO it could be a swing trade
Good luck I got an order in at $10.58
Cheers
Hi C,
Good luck on MU purchase....
Saleem
SALEEM
Here is some interesting comments on MU
Micron Technology (MU: 10.63*, -0.16, -1.48%) shares slunk back about 1% ahead of earnings on Wednesday.
The pressure comes after shares advanced 3.5% over the last five trading sessions and more than 23% over the last two months. But some analysts say the move hasn’t necessarily overvalued the stock.
“Although shares over the past few weeks have had a nice move, we believe plenty of runway remains for further share appreciation and recommend investors continue to build their positions,” writes Wedbush analyst Betsy Van Hees.
Analysts, on average, expect the company to report earning 24 cents a share on revenue of $1.8 billion for the recent quarter. But Van Hees expects second-quarter earnings to top analysts’ consensus targets due to better-than-expected memory pricing and seasonality trends from the PC and consumer markets.
The bottom line: “Even though MU doesn’t provide earnings guidance, we expect very upbeat commentary from management on the memory supply/demand environment,” Van Hees writes.
Read more: Stock Picks: Honeywell Up, Micron Down at SmartMoney.com http://www.smartmoney.com/Investing/Stocks/Stock-Picks-Honeywell-Up-Micron-Down/?afl=yahoo&hpadref=1#ixzz0jmAIWFyz
Hi C,
Thanks for MU analyst take....
Saleem
Hi Saleem,
I seeing continuous erosion of stock prices, this could pick up steam when the buyers take a break.
Looking to get back into TXT,ASIA,CAAS
Best Regards
Hi Standards,
This is a "strange tape"......
Overall staying above key support level......
YES...better entry point will come once either rotation sets in or weak tape...
Saleem
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