Indices managed another gain with all indices in green, closing @ high of the day.
S&P 500 closed @ 1443.69
RSI @ 62.19
CMF @ 0.136
Internals were :
UP volume led by 3.25 to 1 in NYSE & 1.40 to 1 in Nasdaq
Advancing stocks led by 2.13 to 1 in NYSE & 1.56 to 1 in Nasdaq
Net new 52 wk highs were leading by 141 in NYSE & 74 in Nasdaq
VIX closed UP 1.79% @ 17.67
Oil closed @ $90.13
Gold closed @ $1645.90
Stocks which closed UP by 1% or more included KORS,RIMM,
LULU,AMZN,MA,V,GMCR,C,QIHU,BAC,GS.....
AH News :
MU Down 2.65%
RIMM Down 9.28%
RIMM Q3 was a beat on Sales & EPS, Sales actual $2.73 Billion vs expectations of $2.65 Billion
EPS actual loss of 22 cents vs expectations of loss of 35 cents...
Cash on hand increased by $600 million to $2.9 billion....
RIMM was sold off on concern for subscription revenue, RIMM has 79 million current subscribers whose subscription revenue remains the same & revenue keeps coming @ the same rate. For new BB10 buyers they have sliding rate of 0 to say $5, for no add-on feature is 0 to features they want to pay for as add-on feature like security or other management function could be as high as $5.....shorts are using this non-existent issue as their thesis for AH selling????
AH Futures Down sharply
AH Asian Markets Down
AH Oil & Gold Down
About market, Republicans after much fanfare & wasting time, Plan B turned out to be Plan 0. Speaker got no followers, that is a sad state of non-leadership. This reflect badly on the "eventual vote" on any agreement. We are now in uncharted territory & it will take "real leadership" to resolve budget issue. In the meantime, we along with market take a "beating".......
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Sold the rest of the ELOQ. I looked at the merger agreement documents last night, and there's multiple reasons I think we might not see a competing offer so I decided to deploy funds elsewhere.
I added to GGC at $42.31 due to PPG's receipt of a favorable tax ruling from the IRS clearing the way for the PPG commodity chemical business merger with GGC's (and the merger is extremely beneficial).
I also added to PANW at $50.71 due to the recurring revenue stream and accelerated adoption of their products. Also, there is a report that Obama will sign a cybersecurity executive order in January which could provide further lift to the stock.
Trying to stay alive today! :)
Stocktrader
Hi Stocktrader,
Good rationale for making your moves.
I sold RIMM @ open $11.85 is all i could get......based on National Bank analysts downgrade this morning...his target $10..he is the only analyst who got every turn on RIMM right....
Saleem
Hey Saleem,
RIMM is such a volatile stock. I'm sorry you got hurt this time, but you've played it so well in the past that I'm sure you're still up overall on it.
Good luck finding the next gem! :)
Stocktrader
Hi Stocktrader,
RIMM trade was a 13% loss.....cant help these situation every so often...
Saleem
Post a Comment