Indices are mixed with Nasdaq green, while Dow & S&P 500 are down.
Internals are positive.
New 52 wk highs are in the lead.
Fed beige book noted improvement in economy.
Oil Down 72 cents
Gold UP $8.80
Canadian $ Down 32 tick @ 98.12
VIX UP 2.13% @ 21.13
In my portfolio :
Bought CNQ @ $38.19
Portfolio is AMZN,CNQ,CMG,COH,LVS,RIMM,RVBD
Exposure 125%
Most stocks are UP
@ 2.33 following are down :
AMZN,CNQ,COH,FIO,AUY,SU,GG,AAPL,PCLN,M,
QCOM,BWLD,MA,V,TLM,SLW,APKT,SNDK,OTEX,
ECA,NVDA,EGO,AEM,BJRI,KOG,SNE.....
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
Sold BAC and SWC today. This leaves me with just over 25% cash for future opportunities.
Stocktrader
Hi Stocktrader,
Good move in booking profit.
GLNG volume is a concern?
Mining stocks are strong.
Saleem
Hey Saleem,
Thanks for watching out for me in GLNG--it is definitely a concern and something I have looked at all day. I guess I've come to the conclusion that a lot of the breakout traders got flipped upside down today and most of the high volume occurred near the lows. I see this more like a capitulation move than the start of something. How it closes will be important, and I still like the earnings power potential this year. I definitely don't see an urgent need to sell it down 8% already today.
As you noted, the mining stocks are strong today...except for SWC. This factored into my decision to sell that one.
Stocktrader
Hi Stocktrader,
Every stock is based on conviction, GLNG seems to be high on your conviction scale.
Good luck with GLNG & other position.
Saleem
Hey Saleem,
I am convicted about GLNG's earnings power, but I am uncertain about what multiple to place on it. That is why it is one of the smaller positions in my portfolio, but also why if it drops like this, it actually makes me more comfortable, not less.
Stocktrader
Saleem
GREAT call on CMG
awesome move up!!
Smile
Hi C,
Thanks for your comment on CMG.
It is nice to have ones largest holding make a move...very next day!!!
Saleem
Saleem
I got some CNQ..... hoping for a nice pop here.
Hurray! hurah!!!!!!!\\:)
Did you see the action in BGS---food is hot --nice :)
c
Hi C,
Good luck with CNQ.
Saleem
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