Wednesday, April 18, 2012

Indices closed down .37% to .63%.......

Indices struggled whole day on European issues.

S&P 500 closed @ 1385.14

RSI 50.04

CMF +0.004

Internals were :

Down volume led by 2.21 to 1 in NYSE & 2.52 to 1 in Nasdaq

Declining stocks led by 2.02 to 1 in NYSE & 2.31 to 1 in Nasdaq

New 52 wk lead by 6 in NYSE & 2 in Nasdaq

Oil closed @ $102.67

Gold closed @ $1639.60

VIX closed @ 18.64

Stocks which closed UP 1% or more FCX,WYNN,LVS,CMG,
PCLN,LNKD,AMZN,CRM,NTES,TSL....

AH ER :

VMW UP 2.66%

FFIV UP 6.27%

EBAY UP 6.66%

QCOM Down 3.41%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, Indices are showing weakness frequently. CMF is getting very close to negative, which is not a sign of conviction. I am expecting weak TAPE to take hold after earning season is over. SO...sell in May may make sense.

BLOG does NOT give buy or sell.

Saleem

18 comments:

c said...

GOOD MORNING
Saleem
MS news: PM is up $18.67

NEW YORK, April 19, 2012 – Morgan Stanley (NYSE: MS) today reported net revenues of $6.9 billion for the first quarter ended March 31, 2012 compared with $7.6 billion a year ago. For the current quarter, the loss from continuing operations applicable to Morgan Stanley was $78 million, or a loss of $0.05 per diluted share4 compared with income of $984 million, or $0.51 per diluted share, for the same period a year ago.

Results for the quarter included negative revenue of $2.0 billion compared with negative revenue of $189 million a year ago related to changes in Morgan Stanley's debt-related credit spreads and other credit factors (Debt Valuation Adjustment, DVA).1

Excluding DVA, net revenues for the current quarter were $8.9 billion compared with $7.8 billion a year ago and income from continuing operations applicable to Morgan Stanley was $1.4 billion, or $0.71 per diluted share, compared with $1.1 billion, or $0.59 a year ago.2, 5

Compensation expense was $4.4 billion, which included severance expense of $138 million related to staff reductions,6 compared with $4.3 billion a year ago. Non-compensation expenses of $2.3 billion decreased from $2.4 billion a year ago.

For the current quarter, the net loss applicable to Morgan Stanley, including discontinued operations, was $0.06 per diluted share, compared with net income of $0.50 per diluted share in the first quarter of 2011.7
here is link:

http://www.morganstanley.com/about/ir/sh...

PM is up +45. and FCX is hot again! Copper and gold are down

VB to all

Stocks100 said...

Hi C,

MS ER is a beat & business growing in every segment Y/Y & Q/Q.....NICE !!!!

MS pre-market UP 97 cents or 5.5%$$$$

Saleem

c said...

S

APPLE is down graded
we are down by $6 smackers

You are making money with MS
I got to wait to $20.20,

It is like waiting for paint to dry

C

Stocks100 said...

Hi C,

MS is not as strong as it was in pre-market...shorts & MM collusion to keep the price down, so they can cover......

MS should be higher than your price in near term.....

AAPL is coming back nicely.....

Saleem

stocktrader_1996 said...

Hey Saleem,

I wish I'd be around at open--I was targetting WPRT for an early sell based on action. Unfortunately, I only ended up selling avg $33.49795. I swapped into some of the TUMI IPO at 25.721. It's kind of a flier, but I think the downside is limited.

I haven't looked at anything else yet today--lots to see/research still...

Stocktrader

c said...

Saleem

thanks for the feedback
C

Stocks100 said...

Hi Stocktrader,

You got out @ much better price than where WPRT is trading now....

Good luck with your new purchase.

Saleem

stocktrader_1996 said...

Hey Saleem,

Risk management tells me to take half off the TUMI now after a quick $2.70, but I am forced to hold until Tuesday else I get that 3-month lockdown. Hopefully it can stay strong through then! :)

Stocktrader

Stocks100 said...

Hi Stocktrder,

That is a real problem when are so right about your purchase..hopefully TUMI can be UP another $5 by Tuesday...then it will be a blessing in disguise.

Saleem

Up said...

Good morning Saleem

Sold MS at 18.70 this morning and buying puts on SPY when spy was up 4 points. I am turning bearish on market now. Market does not look so good to me

stocktrader_1996 said...

Hey Saleem,

Bought 40% more TUMI here at $26.50--might as well pile on now! I've used up all the cash from the WPRT sale now.

Stocktrader

Up said...

Stocktrader

I never have the guts to play ipo because they tend to go either direction too fast plus chart is not there to guide me. Seems like you are good at this

Stocks100 said...

Hi Up,

Good move in booking profit....I want to hold & see what is next for MS......

Market has been WEAK since start of April.

Saleem

Stocks100 said...

Hi Stocktrader,

Whatever works..is the way to go.

Good luck with TUMI $$$$$$$

Saleem

stocktrader_1996 said...

Hey Up,

I don't usually dabble in IPOs unless I think I have a really strong take on it either way. In my opinion, TUMI has real products that are gaining market share, but also many expansion opportunities remaining, so I figured the institutional demand would be strong and consistent. Couple that with the low float offered, I figured the downside was limited, and that's my major consideration when evaluating any stock, but IPOs especially.

So far so good, but 2.5 days left before I can consider selling.

Stocktrader

c said...

HEY all

Making money is the object here, seems to me you are on target

I never had much luck with IPO's nor options!
DEEP in the money calls on APPLE is a fast money
suggestion on earning play - that they suggest...

As you know I gotta hang out with MS till I get my $20.20 price.....

I may just may get some more apple shares today
I would sell my AT& T to do so--comments?

THanks all

Stocks100 said...

Hi C,

Only advice, based on current negative market environment..do not be overexposed in any stock....its time to bring risk down.....

Saleem

Up said...

C

Sometime we have to look at the big picture, market has been up 3 months in a row and pullback is normal. Earning had been sell since people expecting much more from company. Data from U.S is weaken and European is in a bad spot. France might be in trouble too. India and china grow rates stall. With all this negative going on, I think finally we are going lower. Right now I am in a wait and see approach since i sold all my stock and holding only SPY puts.