Dow & S&P 500 are confirming current UPTREND by being UP back to back. This technical confirmation is very significant, as many so-called gurus are trying to talk this market down.
When markets go UP back to back with several headwind, smart traders KNOWS what to do, follow the TAPE......
IF we close higher in any indices, technically we are strong.....
Market internals are mixed ,with Nasdaq being negative.
Gold UP $1.90
Oil UP $1.41
Canadian $ UP 34 tick @ 97.01
VIX Down 2.49% @ 31.33
In my portfolio :
Bought COH @ $59.74
Added 60% LULU @ $47.89..LULU reports before open this Thursday,expecting a beat & guide UP.
Portfolio is BIDU,CNQ,CLF,COH,LVS,LULU,PCLN,RVBD,AUY
Here is my $ weighting as of few seconds ago :
PCLN 18.46%
AUY 15.79%
RVBD 14.49%
BIDU 11.52%
CLF 10.35%
LULU 9.31%
COH 7.30%
CNQ 6.39%
LVS 6.39%
@ 2.09 following are green :
CNQ,CLF,AUY,BJRI,CMG,RIMM,TCK,FCX,
GG,SU,C,CRUS,SINA,SOHU,AEM,JCP,KOG...
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
I sold SWC, CLF, and ULTA. I wanted to protect against tail risk on this Iranian situation and I view Wednesdays as reversal days often. I also didn't really like the lack of conviction today.
These sells leave me with 72.4% exposure.
Stocktrader
Hi Stocktrader,
Your rationale for selling will give increased comfort level.....it is all about how we view market trend.
Saleem
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