Indices are @ low of the day....Chinese PMI was weak, came in @ 48.7% in May vs 49.3% in April. Below 50 is contraction in economy.
Chinese GDP for Q1 came in @8.1%, getting close to their official goal of 7.5% GDP growth....
US data was as expected....
Indices down .42% to .92%
S&P 500 @ 1313.06
Internals are negative
Oil UP 55 cents
Gold UP $3.70
Canadian $ Down 40 tick @ 87.20
VIX UP 2.96% @ 22.99
Portfolio is COH,LVS,LEN,LNKD,JCP
Most stocks are down
@ 2.12 following are green :
FB,M,MA,EGO,AEM,TSL,AGU,IBN....
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Tricky market today!
I sold ZNGA @ 6.86 and bought CTXS @ 76.10.
I sold the ZNGA because a huge lockup expires next week and I feel there could be downside leading up to that.
Originally I was looking to potentially purchase VMW, but I found the note that is causing the decline (along with broader tech weakness) and it says cost-conscious customers might start adopting cheaper offerings from MSFT and CTXS for their cloud services instead of VMW. Since CTXS was mentioned positively, but also down in sympathy, I went with that. I also noticed CTXS had a better quarter and guidance.
Looking for a better close :)
Stocktrader
Hi Stocktrader,
CTXS is managing their business better than most.
It is @ support & CMF is GREEN...
Good choice !!!
Saleem
SLAEEM
sold 1/2 of SFL position
a tidy profit for once.
SFL is one hot potato today --great earning and increased divi
GOOD LUICK TO ALL
Hi C,
Really happy for your profit..which IS rare these days....
Good luck with rest of your portfolio.
Saleem
Hey Saleem,
The PAY conference call was very interesting. Their business seems to have a lot of momentum and they were conservative on guidance simply due to a weak euro. It might be worth looking more into the company.
Stocktrader
Hi Stocktrader,
Just saw, that it is down 9% AH.....
Do not follow PAY , may look it up over the long weekend...
Saleem
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