Indices closed UP .15% to .30%.
S&P 500 closed @ 1412.97
RSI @ 38.90
CMF @ -0.117
Internals were :
UP volume led by 1.38 to 1 in NYSE & 1.24 to 1 in Nasdaq
Advancing stocks led by 1.52 to 1 in NYSE & 1.41 to 1 in Nasdaq
Net new 52 wk highs were mixed +48 in NYSE & <6> in Nasdaq
VIX closed Down 1.15% @ 18.12
Oil closed $86.05
Gold closed @ $1713
Stocks which closed green included BIDU,LVS,YHOO,CMG,
AUY,JCP,DNKN,TCK,NFLX,AEM,GG,YUM,FCX,GOOG,
RIMM,SU,V,GMCR,ZNGA,LRCX,MU,CIEN,SBUX,SLW,
SINA,ECA,MGA,BJRI,WYNN,IBN.....
My portfolio weighting is :
YHOO 19.55%
LEN 17.66%
LVS 16.85%
AMZN 13.42%
BIDU 13.41%
PANW 9.58%
APKT 9.53%
Exposure 110%
AH ER : AMZN Down 1%, AAPL UP .02%, APKT UP 4.32%, EXPE UP 15.51%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, AMZN & AAPL ER did not add to the confidence level for traders. Election is also playing an uncertain role in markets. TAPE is slowly working off earnings & election uncertainty. I am impressed with TAPE resiliency despite an onslaught of bad earnings report. How we close on weekly option expiry Friday will determine IF TAPE is turning positive.
BLOG does NOT give buy or sell.
PS...i will be celebrating Eid-Al-Adha a festival of sacrifice by Muslims all over the world. I will be busy on Friday with friends & family. Next post will be on Sunday by 2 PM.
Saleem
8 comments:
Saleem,
Enjoy Eid-Al-Adha with your friend and family. You need it.
Michael
C,
What happened to our Apple? I saw it at 614 this morning and now <600. Someone decided to read ER a different way?
Michael
So sorry I just now saw your comment!,,,,!!
IMHO, apple is down on belief that earnings were down, and new products across the board and no one can predict
It the $329 mini iPad is priced to high
Me I a getting the wife a mini and me I am getting a new iMac.
I believe that medium term we will do fine.
I saw one price target changed to $700
So over all j Cramer say Apple is an investment not a trade
This time he is right
What say you???
C
PS
Best of luck to you!
I Am in the Chesapeake ---hurricane is scaring me.
Mr Michael
some thoughts on APPLE
No other company in the world makes this amount of money in an entire year let alone in one quarter.
1.) They have multiple new products out before the holidays
* New ipad
* New mini ipad
* New macbook Pro
* New iMac
* New iPhone5
2.) Profit was up 27% from last year.
3.) They make more money in profits in one year than the market cap of 95% of all public traded Company's.
4.) Most likely Apple is responsible for the GDP growth for Q3
5.) They still have a huge room to grow in the PC and Mobile market share.
I say get some
All comments appreciated
best of luck to all
C
c,
You might want to take a look at XOM's quarterly revenue. I am long AAPL and believe the next two quarters are going to be great. In the meantime, enjoy the divy.
Victor
Hey Saleem,
I've been recovering from an illness and had a busy weekend so I am late in this usual recap. It was a down week for the portfolio as the few good earnings were offset by continuing weakness in many of my high-growth names. Here is the portfolio now:
ELOQ - 9.9%
CRUS - 8.6%
GGC - 8.5%
FIO - 8.4%
APKT - 7.5%
PANW - 7.5%
GHDX - 7.5%
SNDK - 7.2%
GWAY - 7.1%
MLNX - 7.1%
SPLK - 6.9%
LF - 6.3%
PFPT - 4.8%
APWC - 2.7%
(cash) - 0.01%
I was pleased with all the earnings this week (ELOQ, FIO, APKT, PFPT) despite the poor reaction in FIO. Next week is CRUS and GWAY, and I'm also expecting to hear good things. I continue to focus the portfolio on companies positioned for accelerating growth next year even as this year has turned sluggish, looking for that weakness to only be temporary.
The overall market barely held on to some technical levels last week, especially in the $COMPX, with the market ending flat/down after up opens except for the bad Tuesday which was ugly all-around. At this point, there seems to be no potential catalyst that can drive upside until we get election results and/or fiscal cliff progress, which unfortunately means I expect more weakness.
Given this view, my portfolio is poorly positioned. Also, just about the time I stopped the constant warnings about the pre-fiscal cliff hesitation, it finally shows up in the market. This fact is especially frustrating, and also leads me to think that just about the time I give up on my stocks will also be about the time they turn around or some positive catalyst happens. In recent years, this has often caused me to be more cautious in the initial stages of a rally than I should be, and given this pre-fiscal cliff slowdown is only temporary and heavily digested by the market already, I don't want to make the same mistake.
In light of this, my current plan is to let market downside play out for now while I'm still involved, and then with the election so close I will be positioned correctly for the potentially huge rally. Trader sentiment has turned very negative, so the downside risk I believe is limited in duration, although could be vicious in price. Having a solid plan will let me absorb the price downside with less overall emotion, thereby creating less urge to make hasty decisions.
I continue to believe my portfolio is full of leading technology and accelerating growth. This will serve me well when the rally ensues. For now, the spectre of positive earnings reactions may help offset some overall market weakness.
I hope your long weekend was full of great times and great people :).
Stocktrader
Hi Stocktrader,
Hope you are feeling well by now to wrestle the bear.
Good long term well thought out strategy.....being involved is the right approach.
Saleem
C,
Thanks for your note on AAPL.
Michael
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