Weekly Option Expiry pinned down many stocks near certain strike price, the power of Market Maker was on display again......
We had a mixed close, with Nasdaq sole loser.
S&P 500 closed @ 1408.47
Internals were :
UP volume led by 1.97 to 1 in NYSE & 1.25 to 1 in Nasdaq
Advancing stocks led by 1.38 to 1 in NYSE & .87 to 1 in Nasdaq
New 52 wk highs expanded again, 108 in NYSE & 86 in Nasdaq
VIX UP .13% @ 15.50
Oil closed UP @ $103.02
Gold closed UP @ $1671.90
Canadian $ closed Down 15 tick @ 100.20
Portfolio is CNQ,OTEX,JCP,RIMM,RVBD
Stocks which were UP 1% or more included CNQ,OTEX,RIMM,
FCX,TCK,LULU,ZNGA,GG.AUY.APKT,BRCM......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
My current portfolio is as follows (all main positions bought today!):
APKT - 8.6%
CF - 8.2%
FCX - 8.2%
MS - 8.2%
DOW - 8.1%
WPRT - 8.1%
RVBD - 8.1%
ZNGA - 8.1%
PMTC - 8.1%
CLF - 8.0%
STLD - 7.9%
MET - 6.8%
APWC - 2.2%
TVIX - 1.3%
(cash) - 0.01%
I managed a gain of 0.92% today thanks to some nice intraday moves, most notably in APKT (5.1% from entry) and ZNGA (4.4% from entry).
Overall, there was likely some markup this week, but the intraday selloffs on many days may have represented enough profit taking that the market position is not too vulnerable, although we should be prepared for more still.
Bond yields in Spain/Italy continue to rise, but possibly is attributed to the "cleaning of books" of the European banks for quarter-end display. I am interested to see if further deterioration continues next week.
The official economic reports from China are mixed, but many people "on the ground" are noting good activity still. I find it difficult to believe the government would stand buy and let the economy crash around them with so many tools at their disposal still. This leads me to believe everything is OK over there, at least for now.
The market internals remain strong with a wide breadth of advancers and new highs. Also, the fact that the NASDAQ didn't crack with AAPL down nearly $20 in two days is impressive. We continue to see rotating sector outperformance on a daily basis--a very good sign.
Longer term, I think cheap natural gas can become a worldwide boon as eventually our drilling technology gets exported. Extremely cheap energy prices would be such a help to emerging markets it is incredible. I think it could portend a multi-year bull market.
Glad to be back in! :)
Stocktrader
P.S. If my postings are too much information/opinion, please let me know. I do not want to take anything away from your blog!
Hi Stocktrader,
Your analysis is alway's welcome.
Good luck with your portfolio.
Saleem
SAleem
A confusing week but one that made me some $$
thanks for the blog -- have a great weekend to all
C
Hi C,
Thanks for your feedback.
Focus should be on, how to end the week ahead......
You cope with that challenge mighty fine last week.
Saleem
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