Indices let the horses out after learning that "European got solutions"
All the indices closed @ high of the day & above 50 DMA.
S&P 500 closed @ 1362.16, high was 1362.17.......
RSI @ 59.13
Internals were :
UP volume led by 7.93 to 1 in NYSE & 8.69 to 1 in Nasdaq
Advancing stocks led by 6.74 to 1 in NYSE & 5.84 to 1 in Nasdaq
New 52 wk highs were leading, 242 in NYSE & 136 in Nasdaq
VIX tumbled 13.34% @ 17.08
Oil closed UP @ $84.96
Gold closed UP @ $1604.20
Canadian $ jumped 1.49 cents @ 98.31
In my portfolio :
Bought BIDU @ $111.25
Portfolio is BIDU,COH,LVS,NTES,JCP
Here is my weighting as of tonight :
NTES 29.46%
COH 25.09%
LVS 19.28%
JCP 14.66%
BIDU 11.51%
Exposure 131%
Stocks which were UP 3% or more included BIDU,COH,JCP,
LEN,CLF,PCLN,LNKD,TCK,GG,SU,LRCX,MU,BRCM,
VECO,JDSU,CIEN,C,SNDK......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
2 comments:
Hey Saleem,
Well, conviction in our companies and market finally paid off today when Europe put forward some solid stability mechanisms. My portfolio currently stands as follows:
CTXS - 8.7%
NUAN - 8.6%
GWAY - 7.2%
FIO - 6.6%
PAY - 6.5%
M - 6.4%
WWWW - 6.4%
GGC - 6.3%
LEN - 6.3%
SPLK - 6.2%
NVDA - 6.1%
APKT - 5.8%
CMI - 5.7%
PFPT - 5.6%
ADNC - 5.5%
APWC - 2.1%
(cash) - 0.01%
It is not really intentional that CTXS, NUAN, and GWAY are larger positions than the rest--they are just holdovers from the prior larger position sizes I was using, although if I wanted a #1 position, I couldn't think of a better one than CTXS given its great story and breakout chart.
This week I moved out of some market "trades" like ERY, MOS, and ETN, and into stocks I wanted for "investment" like NVDA, SPLK, FIO, and more LEN. NVDA and LEN were both up >10% since purchase, while SPLK and FIO were so far lackluster.
Next week presents a lot of challenges in term of economic data. I suspect we'll see the action where we sell off immediately after the number, but then stage a comeback as the day goes on.
As for market sectors, technology is still my favorite as many themes in tech are secular changes that grow even in sluggish times. I am not convinced we have the right environment to significantly grow jobs, but I think, especially with the European situation stabilized, we will see companies continue to buy services and products to improve their efficiencies, cost structures, and marketing efforts.
I am not sure where I stand with general commodities. The rally today was powerful, and I'm not sure whether it was the start of something more, or just a catchup to fairer value and they will become less interesting now. I am sure the next couple weeks will paint the true picture, and tell whether CLF, FCX, MOS, and SWC are back in play or not.
This was an exhausting week for me--I will enjoy the weekend and I hope you do also! :)
Stocktrader
Hi Stocktrader,
Nice recap of your ongoing analytical approach to invest & divest.
What a nice finish to the week,month & Q......
Enjoy your well deserved two days off from daily grind of Wall & Broad.
Saleem
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