Indices were given Washington political jolt but recovered nicely.
S&P 500 closed @ 1415.95, high today was 1419.70
RSI @ 55.72
CMF @ +0.064
Internals were :
UP volume led by 3.09 to 1 in NYSE & 2.55 to 1 in Nasdaq
Advancing stocks led by 2.58 to 1 in NYSE & 2.73 to 1 in Nasdaq
Net new 52 wk highs were leading by 151 in NYSE & 48 in Nasdaq
VIX closed Down 2.9% @ 15.06
Oil closed @ $88.07
Gold closed @ $1727.20
In my portfolio :
Sold AMZN
Sold CF
Doubled my position in AUY @ $18.96
Portfolio is KORS,JCP,AUY, RIMM ( calls expiring Friday)
Exposure 48%
Stocks which were UP 1% or more included RIMM, AMZN,CF,
TCK,CRUS,HMC,AAPL,FFIV,AEM,PCLN,FCX,GOOG,
PANW,FB,ZNGA,MU,CIEN,FNSR,QCOM,MOS,
STLD,CCJ,MGA,BJRI,AGU,IBN.....
AH News :
ZNGA Down 12.60%
SPLK UP 2.07%
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, Indices are struggling near resistance thanks to our politicians. Friday is Option Expiry thus volatility may increase. I may wait till Monday to add to my portfolio unless price is very right. I am keeping a close eye on stocks RSI for my sell & buy decision. Some stocks are getting stronger & may be bought for quick trade.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
The SPLK conference call was really positive. It certainly seems like their high growth rate should be maintained for a while based on high adoption of new products both at new and existing customers. Additionally, I think the traction they are gaining in the marketplace makes them a better takeover candidate than before. I think the high-profile shorts have this one wrong for now...
Stocktrader
Hi Stocktrader,
Shorts are right 50% of the time, but when they are right they make up for all losses.
SPLK cc is a better reflection of its business trend as they have to answer all the analysts question.
Good luck !!!
Saleem
Hey Saleem,
I trimmed a little APKT at 19.90 to buy some SPLK at 30.15. Based on the conference call and the nice intraday reversal, I want more exposure to SPLK. The APKT chart is a little daunting so I unwound the overweight.
Stocktrader
Hi Stocktrader,
Follow your instinct......best guide !!!
The trader in me took over...bought TCK & LEN......
Exposure 68%
Saleem
Hey Saleem,
TCK looks great! The chart is really looking strong and I think China may add some stimulus soon. As for LEN, I'm not so sure based on chart and valuation, but you've had such great timing on it before that I wouldn't dare question that!
Stocktrader
Hi Stocktrader,
Thanks for your thumbs UP on TCK & thumbs DOWN on LEN......
I had positive trade with these two ...
Lets see how it goes this time.....
Saleem
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