Indices continued on its path of higher highs.
S&P 500 closed @ 1418.16
RSI @ 68.59
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.30 to 1 in Nasdaq
Advancing Stocks led by 1.63 to 1 in NYSE & 1.92 to 1 in Nasdaq
New 52 wk highs were leading by 165 in NYSE & 64 in Nasdaq
VIX tumbled 5.88% @ 13.45
Oil closed @ $96.01
Gold closed @ 1619.40
Canadian $ closed @ 101.10
In my portfolio :
Bought EXPE @ $52.46
Portfolio is EXPE,LVS,NTES,JCP,TCK.....
Here is my portfolio weighting as of tonight :
NTES 26.85%
LVS 20.45%
TCK 19.38%
JCP 16.88%
EXPE 16.44%
Exposure 118%
Stocks which were UP 1% or more included LEN,KORS,COH,LULU,
AAPL,JDSU,CIEN,TIF,NTAP....
NEXT Post on Saturday by 2 PM...this week only, due to Muslims religious holiday after Ramadhan this Sunday...Eid....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
So ends another good week. I was up nearly 3% overall despite a rather large loss in CLF in the first two days (while it was the largest position) and the big hedging short I had on for two other days. The gains were driven by ADNC having a second consecutive 10%+ week and a nice sell/buyback in PANW netting a nearly 15% gain, although many of my stocks performed well.
The current portfolio stands as follows:
PANW - 14.6%
WPRT - 12.7%
FIO - 11.0%
NTAP - 8.7%
ADNC - 8.3%
OCZ - 8.0%
GHDX - 7.7%
ELOQ - 6.4%
PFPT - 6.3%
APWC - 2.3%
(cash) - 14.2%
Small cap stocks are finally taking the lead showing nice outperformance especially late in the week. I am really trying hard not to bottom fish and instead follow constructive price action (I don't always work this perfectly and do get caught in value traps but I'm getting better).
I consider PANW, WPRT, FIO, and ADNC (and somewhat GHDX) potential 5-yr stocks (although I could never hold that long due to my opportunistic nature). They have the technological lead in their industries (some disruptively so) and should have long runways of great earnings. The downside is usually high valuation, but this can often be ignored as long as the technological lead remains with them.
I consider NTAP, OCZ, ELOQ, PFPT, and APWC more as "undervalued with upcoming catalysts". All of these companies operate in growing industries, but are undervalued for one reason or another, and have upcoming catalysts to drive stock price gains. Some of these catalysts are weaker or less specific than others, but overall I feel I own the best stocks in my watch lists balancing price potential with certainty/comfort level.
The general market I feel can continue to grind higher based on lack of sell reasons and still general skepticism/profit taking/shorting of the market. Additionally, Europe can show economic data improvement from these low levels and China can provide more stimulus. I still worry about the US and the impact of the pre-fiscal cliff slowdown, but until we see signs of economic or market weakness, I'll stay bullish.
Given the big run, I feel some of my "leader" stocks have reached fair/overvalued territory. This is a natural feeling after the rise they've had, but as long as my overall market take remains strong, I will stick with them. I suspect we'll see them continue to grind higher also with the market, defying my and others' intrinsic feeling to take profits.
On a separate note, thank you for allowing me the opportunity to view your thoughts and also post my market outlook and specific stock takes daily/weekly. Especially recently I believe it has helped me stay true to my personal thoughts and ignore the market gyrations or broadcasting nonsense day-to-day. This has helped me have a great couple weeks while many "professionals" have been stumped.
Thanks again and have a great weekend! :)
Stocktrader
SALEEm
Have a great holiday
Good picked one very good one with EXPE!!!!!!!
You probably know all this already:
Shares of Expedia (NASDAQ:EXPE) have bullishly opened above the pivot of $52.30 today and have reached the first resistance level of $52.75. Investors may be interested in a cross of the next upside pivot targets of $53.29 and $54.28.
Expedia Ranks the Lowest in Terms of P/E Ratio in the Internet Retail Industry (EXPE, PCLN, FLWS)
2 days 21 hours 12 minutes ago - Financial News Network Online - News Corner
Below are the three companies in the Internet Retail industry with the lowest price to earnings (P/E) ratios. P/E is an important valuation tool when comparing companies in the same industry. A higher P/E ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with a lower P/E ratio.Expedia (NASDAQ:EXPE) is lowest with a P/E ratio of 18.12. Expedia, Inc. provides branded online travel services for leisure and small business travelers. The Company offers a wide range of travel shopping and reservation services, providing real-time access to schedule, pricing and availability information for airlines, hotels, and car rental companies. Expedia share prices have moved between a 52-week high of $59.50 and a 52-week low of $19.61 and are now trading 166% above that low price at $52.10 per share. The 200-day and 50-day moving averages have moved 1.03% higher and 1.03% higher over the past week, respectively.
Looks to me like you picked a winner for sure
Cool
C
Hi Stocktrader,
Thanks for your detailed stock & market analysis, which is always welcome.
You have a unique talent of finding good small cap stocks....i rarely go into that arena.
I am sure many visitors are benefiting from your great picks.
Your focus on IPO is also unique.
This week was down .96% for me thanks to NTES.....but previous 3 wks have been good, last week was the-best.......
Saleem
Hi C,
Thanks for your holiday wishes.
EXPE had a great ER, but was unfairly punished with PCLN debacle.
Appreciated your post about EXPE.
Let us see how it works out.
EID is a 3 day festival after Ramadhan...i will be meeting friends in Toronto area.
Saleem
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