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
GOOD MORNING
ReplyDeleteSaleem
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
Hi C,
ReplyDeleteMS ER is a beat & business growing in every segment Y/Y & Q/Q.....NICE !!!!
MS pre-market UP 97 cents or 5.5%$$$$
Saleem
S
ReplyDeleteAPPLE 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
Hi C,
ReplyDeleteMS 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
Hey Saleem,
ReplyDeleteI 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
Saleem
ReplyDeletethanks for the feedback
C
Hi Stocktrader,
ReplyDeleteYou got out @ much better price than where WPRT is trading now....
Good luck with your new purchase.
Saleem
Hey Saleem,
ReplyDeleteRisk 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
Hi Stocktrder,
ReplyDeleteThat 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
Good morning Saleem
ReplyDeleteSold 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
Hey Saleem,
ReplyDeleteBought 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
Stocktrader
ReplyDeleteI 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
Hi Up,
ReplyDeleteGood move in booking profit....I want to hold & see what is next for MS......
Market has been WEAK since start of April.
Saleem
Hi Stocktrader,
ReplyDeleteWhatever works..is the way to go.
Good luck with TUMI $$$$$$$
Saleem
Hey Up,
ReplyDeleteI 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
HEY all
ReplyDeleteMaking 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
Hi C,
ReplyDeleteOnly advice, based on current negative market environment..do not be overexposed in any stock....its time to bring risk down.....
Saleem
C
ReplyDeleteSometime 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.