Indices closed well off lows of the day, in extremely light holiday volume.
S&P 500 low was 1314.23..which is another higher low from yesterday.
S&P 500 high today was 1324.20 which is higher high than yesterday, closed @ 1317.82.
RSI @ 36.06
Internals were positive.
New 52 wk high low in NYSE were even @ 29, lows were leading by only 11 in Nasdaq...a major technical improvement
Oil closed @ $90.86
Gold closed @ $1568.70
Canadian $ closed @ 97.15...lowest close in 4 months
VIX closed @ 21.76
Stocks which closed green included JCP,
KORS,APKT,CLF,GG,SU,LRCX,MU,
BRCM,VECO, SNDK...
Portfolio is COH,LNKD,LEN,LVS,JCP
Here is my weighting as of close :
COH 48.14%
LNKD 25.23%
LEN 11.16%
LVS 8.93%
JCP 6.54%
Exposure 80%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Enjoy your Memorial Day weekend with friends & family.
Saleem
2 comments:
Hey Saleem,
It was a surprisingly good week with notably good gains in LEN, CF, GGC, and SWC all over 5% on the week.
The portfolio is currently as follows:
WWWW - 9.4%
CF - 9.1%
APKT - 9.1%
GGC - 9.1%
LEN - 9.0%
FCX - 8.1%
PMTC - 7.2%
CLF - 7.0%
GWAY - 6.8%
CTXS - 5.6%
PFPT - 5.5%
SWC - 3.7%
APWC - 2.4%
(cash) - 8.0%
My sells this week were ZNGA and OCZ. I picked up CTXS and still have cash which I hope to deploy early next week in either a research from this weekend or a special situation.
Again, it doesn't seem like there's a catalyst for a real upturn yet, but good stocks are working. I hope to continue fine tuning to get those "good stocks". Stocks like CLF, SWC, and even CF are definitely some of the first I look to sell as there is little to differentiate them from peers, but the outlook for Chinese growth measures or semi-resolution in Europe keeps me involved for now as they will likely move well in those kinds of scenarios. With the cash I raised late today I considered MET or adding some to CTXS, but thought having the cash to more carefully look at things was wiser than a hasty buy.
Have a great three-day weekend! :)
Stocktrader
Hi Stocktrader,
I am glad that you had a very productive week......mine was a negative 2%....
Hopefully next week we may see a trend change......
Enjoy long-weekend !!!!
Saleem
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