Indices have regained some technical strength by closing green.
Internals are getting positive also.....
Dow closed 77.08 points higher than 50 DMA.....while S&P 500 is 2.50 points away & Nasdaq is 9.46 points away from 50 DMA....
RSI @ close ranges from 48.01 in Nasdaq to high of 51.62 in Dow, S&P 500 is @ 48.43...
Hopefully, all indices will be above 50 DMA in Wed trading......
Wed AH ER from AAPL,CMG,FFIV & QCOM will set the stage for AH & Thursday trading..Japan MAY throw a big "monkey wrench" in guidance.High gasoline & food price MAY take a toll in CMG guidance ?
Thursday is the last trading day for this week & weekly Option Expiry...a "dangerous cocktail"....
SO..on Wed, I MAY take a further defensive posture.....means book profit ......something i will highly recommend for traders.......
Stocks which were UP 2% or more included BIDU,POT,LULU,
SLW,SINA,NFLX,MOS,SOHU,LEN,TCK,C,ARUN......
AH ER VMW was a beat & guide UP, stock UP 12.29%
AH ER IBM a beat & guide UP, stock Down 1.86%
AH ER YHOO a beat, stock UP 3.47%
INTC a beat & guide UP, stock UP 4.68%
RVBD a beat & guide UP, stock UP .81%
AH Futures UP
AH Asian markets UP
AH Oil, Gold, Silver UP
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem :)
How much of the Japan disruption and high gas/food prices do you estimate are built in to guidance expectations already? It seems we've been living with those situations for a while now? Thanks for your input!
Stocktrader
Hi Stocktrader,
Wall Street led by Hedge Funds loves to "capitalize" on any old news which becomes "new news"...
For traders buying into dip is a better strategy than being part of the dip...IF it does NOT happens that way..then we can trade no matter what the price IS.....
JNPR guided lower due to Japan contract BUT stock is UP 3.22%..so hopefully your thesis may be OK !!!!
Saleem
Saleem
thanks for the analysis
So you are looking to lighten up here !
OK
BIDU is way up this AM
Should we see how high it goes and wait the day out to sell it??? Or sell now with the $3.65 pop
Most of my positions are divi driven so I will not sell them
FCX is up $1.52, POT up$1.31 pre market
Very Best To All
Hi C,
Thanks for your feedback.
Markets are in OVERDRIVE this AM.
I am expecting 2% to 3% UP move in major indices......
I will wait till market is UP 2%++ then see what needs to be done....
As i am NOT holding any Earnings related stocks....so it is easy to be with BIDU & POT.....
I MAY buy something @ open for daytrade also.....
Enjoy the ride UP $$$$$
Saleem
S
thank you
here is a take on the HOT internet stocksRegular market followers know that Chinese Internet ADRs have been on fire lately. Below we highlight our trading range charts for four of the biggest ones to show just how hot they have been. SINA has been the most ridiculous one of the bunch, going parabolic over the past few trading days. The stock is already up 110% year to date. Compared to SINA, the roughly 50% year to date gains for Baidu (BIDU), Sohu.com (SOHU), and NetEase.com (NTES) look paltry, but all of these names are trading in extreme overbought territory at the moment as well. Be careful out there!
Hi C,
Thanks for the research you posted.
BUT....i totally disagree with the whole thesis.....
Stocks go UP for a very good reason.....it is generally based on fundamentals which IS improving big time for Chinese internet companies.....
Even technically most are NOT overbought..BIDU @ RSI of 69.83..in my world it is NOT overbought.
Saleem
S
I never considered RSI
the article was hype?
Here is my take
SOHU RSI 66 cost $((
BIDU rsi 70 cost $152
SINA RSI 79 cost $145.27
NTES RSI 68 Cost is $54.02
but BIDU in my HO is the strongest
I will buy at open
thanks for feedback
SALEEM
and all bloggers!
On FCX
chart is so interesting
http://i.imgur.com/pKm8X.png
best to all
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