Indices were strong @ open, then triple witching activity took over. By close we were pretty much where we closed yesterday.
S&P 500 closed @ 1460.15
RSI 69.91
CMF 0.069
Internals were :
UP volume led by .88 to 1 in NYSE & 1.01 to 1 in Nasdaq
Advancing stocks led by 1.41 to 1 in NYSE & 1.59 to 1 in Nasdaq
Net new 52 wk highs were leading by 269 in NYSE & 156 in Nasdaq
VIX closed Down .64% @ 13.98
Oil closed @ $92.89
Gold closed @ $1778.00
Stocks which were UP 1% or more included DNKN,EXPE,LEN,
FB,KORS,MA,ZNGA,FNSR,ARNA,ECA,KOG,IBN.....
Portfolio BIDU,DNKN,EXPE,LVS,LEN
Here is my portfolio weighting :
LVS 25.25%
EXPE 21.53%
BIDU 20.14%
DNKN 16.75%
LEN 16.33%
Exposure 70%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
5 comments:
HELLO all
I have been watching the market for a down turn --NOT happening at all....
I got tricked by BB 40 Billion per month Stimulus
I am 70 cash now Got some SFL at $16 pay 9%......
I bought NSC---based on over reaction to coal sale dropping off, NSC gets 30% revenue from COAL. Game changer for NSC I think not.
I am looking at REM -- A REIT this is a long term play on REITS-pay 11% can not get that at the bank and good money while we wait for market correction -I am looking to buy stocks on weakness which so far is alluding me.
I hope my comments help someone!
Best to all
C
Hi c,
I think we have a slow trickle down to about S&P 1420-1440 starting next week. Divy paying stocks are the way to go.
Victor
Hey Saleem,
The week ended a bit sluggishly for me with several stocks having poor weeks like GGC, WPRT, APKT, and PANW. After the big move to unwind the hedge this week, the portfolio now looks as follows:
ELOQ - 10.7%
GWAY - 9.3%
Z - 8.7%
GGC - 8.4%
SPLK - 8.3%
FIO - 8.2%
GHDX - 8.1%
PANW - 8.0%
PFPT - 7.9%
APKT - 7.7%
WPRT - 7.6%
OCZ - 4.6%
APWC - 2.4%
(cash) - 0.01%
I am struggling with the valuation issues on many of my stocks. They are great companies which will continue to growth (most of them spectacularly so) regardless of overall economic growth, but when do they become fully valued anyways?
The overall market is waiting for new catalysts, but holding well in the mean time. I was right last week in thinking the market would churn at these levels, but was wrong in which stocks would move. I thought the risk trade would continue while we saw profit taking in safer stocks, but the exact opposite happened. It will be interesting to see what happens next week.
Technically, it was a good pause the market had to dampen some of the extreme overbought conditions, but it still looks like more rest is needed. Stock picking is likely the name of the game for a while, although end of quarter window dressing might give us an overall positive week. Sticking with winners is definitely key for this week.
I continue to be on the lookout for weakness related to pre-fiscal cliff slowdown, but nothing has yet materialized to a large degree. Earnings guidance is upcoming fast, so that will give us a real look into the demand trends for the fourth quarter. For now, it's steady as she goes.
Enjoy the rest of the weekend! :)
Stocktrader
Hi Stocktrader,
Yes last week was consolidation...
Portfolio performance depends on what is in vogue.
Good luck in coming week.
Saleem
VICTOR
thanks so much for your take on my message
YOU are an astute trader
I love my divi stocks and make some retirement income
with them
Much appreciated
C
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