S&P 500 & Nasdaq closed green, Dow closed down 10 points.
S&P 500 UP five day's in a row, closing @ 1402.80
RSI @ 63.83
Internals were :
UP volume led by 1.59 to 1 in NYSE & 1.24 to 1 in Nasdaq
Advancing stocks led by 1.21 to 1 in NYSE & 1.24 to 1 in Nasdaq
New 52 wk highs were leading, 143 in NYSE & 54 in Nasdaq
VIX closed Down .26% @ 15.28
Oil closed @ $93.36
Gold closed @ $1620.20
Stocks which were UP 2% or more included LEN,JCP,TCK,AUY,
ZNGA,FNSR,NVDA,KOG....
AH ER / News
YHOO Down 3.44%
OTEX Down 5.81%
MGA UP 1.85%
NVDA UP 4.35%
FIO UP 26.07%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE remains healthy & digesting its recent gains. Very seldom we see TAPE this stable in an UP trending mode. Many traders are too short sighted to project " what it could be". I remain firmly bullish.
BLOG does NOT give buy or sell.
Saleem
15 comments:
HELLO SALEEM
Howdy
BIDU is OK 12-Month Price Target Range
Consensus target is ::
170
It is raining here in DC/MD
c
Hi C,
BIDU short term target is $150.....
YES..its raining heavy in Toronto area also......
Saleem
Saleem
AUY is getting stronger
JCP earnings was a drop but the earning message was way upbeat! Good pick
I was looking at commodity plays I haven't checked to see how the major food stocks have been trading. They are going to see higher input costs which will affect their margins. In years past, the food stocks used to be known as safe dividend paying stocks (although not high yielding like we've become accustomed to thinking of high yield lately). Some of these may have risen as more investors chased these. It will be interesting to see if they start rolling over.
RNF Is interesting POT, MOS and monsanto (it is down a buck) for seeds that are draught resistent
Just some stimulating ideas
C
Hi C,
Conference call by JCP was extremely UPbeat.
I am staying with my chosen theme.
Saleem
SALEEM
great ---stick with what is working
LIKE our BIDU and AUY
CNQ is down and so is MS
Ah -oh well
You the man
thanks for your replies
C
Hey guys,
I think Ron Johnson might have the wrong vision and talents for JCP. He was a genius at creating the best-in-world retail experience at the best-in-world technology retailer. I'm not sure he can convince people to visit JCP and do yoga--it's the wrong customer base.
That said, if he is willing to ditch all the current customers and can eventually gain upper end customers with both products and environment, he has a chance. It will just take many years to change public perception of what JCP is, and I suspect the stock goes much lower before you see the inflection point in both earnings and the price.
Just my thoughts--disclaimered such that I could be completely wrong!
Stocktrader
Hi Stocktrader,
It is very easy to be critical IF you don't own the stock.
Market is voting with their $ today for sure..contrary to what you think..only 30+ million shares traded before noon.....
Saleem
Hey Saleem,
You are definitely correct, people who don't own a specific stock tend to be more pessimistic on it than they should. Although, people who do own a specific stock tend to be more optimistic on it than they should.
Besides that, given the huge short interest and the overall positive market environment at the moment, the stock could go up for a while still. Maybe you're right--maybe the fact that I don't like it/don't own it biases my take on the price action too much. I just tried to give an opinion, which could very well be wrong.
Your conviction has served you extremely well in the past. When many had given up, you were the only man standing and made the great gains. Good luck with JCP! :)
Stocktrader
SALEEM
As I have said you the man--JCP is am good pick
I would not own COACH!
I was listening to BNN
Michael said he would not be a buyer of BIDU
did I hear right??
best to you
C
Hi C,
On market call, guest owns BIDU & is recommending BIDU with $150 being "fair value"...
Watch past picks in that program...
for yesterday...it is segment four.
Saleem
Hey Saleem,
Sold half my KOG (8.59) for more FIO (27.09563). Based on the blowout guidance, they are trading at a PEG ratio <1 still and short interest is massive. I think we may see more interest come Monday in the stock.
Stocktrader
Hi Stocktrader,
Switch into additional FIO was a very good move....based on their actual result & guidance...too bad they give only 25% margin in Canada..which keeps me away...i am used to 70% margin.
Saleem
Hey Saleem,
Sold the rest of the KOG and bought some ELOQ. I think it has settled after IPOing and is very cheap compared to its peers, but seemingly has similar growth rates. My average was ~14.01.
Stocktrader
Hey Saleem,
The timing of my KOG sales turned out to be laughable--what a closing rally for KOG! Ultimately it doesn't matter, but it sure figures...
Stocktrader
Hi Stocktrader,
Good luck with your swap from KOG to ELOQ.....
Saleem
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