Market celebrated "debating skill of Mitt Romney" by pushing everything UP.
Mario Draghi was also ready to buy bonds of any EU member when requested.
S&P 500 closed @ 1461.40
RSI @ 63.38
CMF @ 0.013
Internals were :
UP volume led by 3.99 to 1 in NYSE & 1.84 to 1 in Nasdaq
Advancing stocks led by 2.69 to 1 in NYSE & 2.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 196 in NYSE & 78 in Nasdaq
VIX closed Down 5.70% @ 14.55
Oil closed @ $91.71
Gold closed @ $1796.50
In my portfolio :
Bought JCP @ $23.75
Bought RIMM @ $8.22
Bought YHOO @ $16.27
Portfolio is BIDU,DNKN,LVS,JCP,RIMM,YHOO
Exposure 88%
Stocks which were UP 1% or more included BIDU,RIMM,
AUY,SNDK,TCK,AEM,GG,PCLN,LULU,FCX,AGU,
AMZN,SU,GMCR,C.....
AH News ZNGA Down 19.36%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE made a positive UP move & internals improved dramatically. That forced me to jump back in with buy order for daytrade. It is all about Jobs report which has consensus of 113K. We have missed consensus for months but anything close will be greeted with a move UP in markets.
BLOG does NOT give buy or sell.
Saleem
18 comments:
SALEEM
Job numbers out shortly
APPLE has been week the past few day
I am looking at Enbridge EEP as a long term buy
Day trade can be profitable
Have a good one
C
Hey Saleem,
Very nice Canadian jobs number! Go CAD--you're making money! :)
Oh yeah, nice US jobs too--huge July/August revisions up. I wonder what the Fed really would have done last meeting if they'd seen 142k last month instead of the 96k originally reported??
Stocktrader
Hi Stocktrader,
Thanks ..Canadian economy is booming expectations 10K actual 52,100..a beat of better than 5 times....
US numbers also better than expectations & 7.8% unemployment rate will force Romney to redo his attack speech.....
Saleem
Saleem
I just hope that the employment numbers are real ones
This is politics at its worst
I just hope that America does the right thing at election time
Some very bad language is being used in election adds
Just horrible
The market is looking up as a result of employment numbers being up... Who knew??
I am surprised that Libya news is not more negative on the market???
Best to all
C
Hey c,
ADP has been signaling stronger jobs numbers for months prior to this and they have no political agenda (and have been laughed at for their "inaccuracy"). I think the political conspiracies on the jobs number aren't fair.
Stocktrader
Hi C,
Politicians are NEVER my favourite group of human beings....because they will say & do anything to get to power or stay in power....their mission is to serve themselves.....
Saleem
STOCKTRADER
THat is very unfair
I disagree with you in total
this is one nasty campaign where the truth is way distorted
Nuff said
C
Saleem
You are very definitely the voice of reason! ..thanks
thanks for your reply too
I can not escape that this election has polarized me in a bad way and I lose objectively
I just feel thatI got a lot at risk with this political situation.
Over
C
Hi Stocktrader,
Did you see the speculation of Secondary offering by PANW?
Saleem
Hey Saleem,
Yes I did--I thought the article was pretty irresponsible actually unless we see this secondary in 1-3 days. That said, they hopefully were going to do a secondary at some point (in lieu of just letting the lockup expiration go unaddressed), so this is not surprising. I believe the shares will be gobbled up quickly, so these prices now are about the totality of the damage in my opinion.
Stocktrader
Hey Saleem,
I also read an analyst note today that Zillow's web traffic was up 44% in September--hopefully that news stems the slide or turns the stock around completely. Obviously, today's jobs report = better housing also.
Stocktrader
Hi Stocktrader,
PANW seems to be stable now....
Great news on Z.....yes jobs, housing & Z go hand in hand.
Saleem
Hey Saleem,
I got some details of the short-seller comments at the recent Value Investing Conference concerning SPLK. He said cash flow metrics put its value at $6-$12 and that competition and its merely one product put major risk on its business model. $6-$12, wow! That is certainly an aggressive and interesting call...
Stocktrader
Hi Stocktrader,
Shorts are generally more detail oriented.....but their valuation is generally off by 50%...
Saleem
Hey Saleem,
It makes me really nervous about my whole cloud thesis in general, which is such a huge secular theme. Are these individual plays really the way to go? or are the ORCLs of the world eventually going to destroy them all? They trade at such high valuations that the competition factor is truly serious because slowing growth trends for these small guys will = massive price haircuts.
When I'm unsure, I should just follow the technicals I guess...
Stocktrader
Hi Stocktrader,
I think you are doing the right thing by checking "potential competitive landscape".....Which keeps changing....
Saleem
Hey Saleem,
PANW just filed to sell $225M of stock for holders. This seems pretty small and being non-dilutive, I think the action should be positive based on this (although other market factors could obviously weigh). It's good to get this out of the way already :).
Stocktrader
Hi Stocktrader,
YES....its good to get lockup worries done & overwith.
Its insiders selling in an organized manner.
Saleem
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