Friday, April 20, 2012

Indices closed mixed......

Indices closed mixed, despite good earnings report @ open.

S&P 500 closed @ 1378.53, closing below 50 DMA again...

CMF has turned negative @ <0.017>...first negative reading for 2012.

Internals were :

UP volume led by 1.01 to 1 in NYSE & .76 to 1 in Nasdaq

Advancing stocks led by 1.91 to 1 in NYSE & 1.49 to 1 in Nasdaq

New 52 wk highs were leading, 109 in NYSE & 59 in Nasdaq

VIX closed Down 5.01% @ 17.44

Oil closed @ $103.05

Gold close @ $1642.80

Canadian $ closed @ 100.77

In my portfolio :

Sold MS

Sold ZNGA

Portfolio is CNQ,COH,RIMM,RVBD

Here is my weighting @ close :

RVBD 17.21%

COH 24.12%

CNQ 24.66%

RIMM 34.01%

Exposure 118%

Stocks which were UP included COH, BIDU,LULU,LNKD,LEN,
MA,BWLD......

Next post by 2 PM Sunday.

BLOG does NOT give buy or sell.

Saleem

6 comments:

stocktrader_1996 said...

Hey Saleem,

It was another week of consolidation, but I feel like many stocks have corrected to appropriate values now. My portfolio is as follows:

DOW - 9.9%
APKT - 9.5%
CF - 9.2%
FCX - 8.9%
MET - 8.4%
PFPT - 8.4%
MS - 8.0%
STLD - 7.7%
FXCM - 7.5%
TUMI - 7.3%
PMTC - 6.4%
ZNGA - 6.2%
APWC - 2.3%
(cash) - 0.3%

I bought a few IPOs this week that I thought looked attractive, although this is not my usual style. I am looking to these companies as ways to increase risk, but also get into a story that obviously is underknown still. Whether this works in my favor or not is yet to be determined.

FCX, MS, and STLD all reported this week, and were overall fine. The post-earnings reactions were mixed, but that often happens. I realize now that STLD does not really have any special thesis to help it outperform, and realistically is still in a challenged industry. That is definitely on my mind as a first sell if funds are needed or after a nice rally.

I look forward to more earnings reports next week.

Have a great weekend! :)

Stocktrader

Stocks100 said...

Hi Stocktrader,

This week was looking pretty good until RVBD ER......

Good luck with your new strategy.

Saleem

c said...

SALEEM


Do not worry
I got creamed with FCX--taken to the cleaners that is

SO after I close the position in pop up $1.50 and then some !!!
Go figure--- Max pain--smile :):)

Peter Narijian(sp) says Monday the final selling should be in, then he will buy
so perhaps the floor is in by now??
I believe that the easy money was made last year and that 2012 is a tough year for us

J Cramer says invest in APPLE--do not trade it,
I like ERF at this price.
Have a good weekend to all
C

Stocks100 said...

Hi C,

I am disappointed but not worried about RVBD...they are projecting Sales growth of 15% for this year..previously they had projected 17% to 20%..street was projecting 18%.....

So for a shortfall of 3% for the entire year..which may be a strategy to beat resulting in no change by end of the year...stocks get creamed for 28.75%.....never seen this type of overreaction for a company which is guiding GROWTH in Sales & Profit every Q.....

Companies which are guiding lower Sales & lower profit got whacked 7%example QCOM lousy guidance.....

Saleem

c said...

SALEEM
a thought on RVBD,
Maybe just maybe it was over priced and expectations were way high
so it got knocked off it perch
Expectations can be a huge catalyst.. My expectation for FCX were false so I held through of the down turn
it is still below $40 were I bought it.
This week is hugh earning week00AMAZON and APPLE on Tuesday night--do ya think that you may get some for a trade?
As for Amazon do you think it will be a good report?

Have a good dat
Raining here in MD, DC area.
We need some rain --my garden is needing lots of rain
V B to all

Stocks100 said...

Hi C,

RVBD Q1 expectation for EPS was met .....Q2 EPS 2 cents below...that never justifies 29% hair cut...

SNDK guided way below consensus 82 cents vs 40 cents..only 42 cents below expectation, also guiding Sales below 22% from last year..down only 11%......but that is wall street for you & ME....

AMZN EPS consensus is only 7 cents for Q1 which they may beat BUT the problem is Q2 where consensus is 20 cents..they may guide down....

AAPL TAPE is not healthy..so be careful.....down 11.03% from high & just $3 above 50 DMA......

Saleem