Indices were under minor selling pressure.
S&P 500 closed @ 1498.11
RSI @ 66.22
CMF @ 0.373
Internals were :
Down volume led by 1.00 to 1 in NYSE & 1.06 to 1 in Nasdaq
Advancing stocks led by 1.10 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 163 in NYSE & 100 in Nasdaq
Vix Down .28% @ 14.28
Oil @ $97.49
Gold @ $1662.00
AH ER :
N UP 7.16%
ADNC UP 24.47%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE is resting after major run. Accumulating stocks @ this stage is highly recommended. Friday is all about January jobs report which is expected to be in 150K to 160K range. Even if we miss the consensus, reaction may not last long, as February report may be much better.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Sold SPLK @ 33.60 based on IBM's rollout of their internally-developed big data/security product last night. I think their need for SPLK (and probably PANW) has diminished.
Stocktrader
Hi Stocktrader,
Good move, when thesis change strategy changes.
Saleem
Hey Saleem,
It's more just a chance to take profits when I think the stock has run on some of those IBM rumors and I want to reduce exposure more generally.
There should be plenty of room for both SPLK and IBM for a long while still.
Stocktrader
Hi Stocktrader,
Booking profit is a good approach alway's.
Saleem
Hey Saleem,
Sold CRUS @ 28.38 on questions surrounding further AAPL erosion and poor participation in current rallies. It is also an attempt to reduce my exposure.
Stocktrader
Hi Stocktrader,
Good move in booking profit & reducing exposure.
Saleem
Hey Saleem,
STZ seems to have discounted the worst of the possibilities and is a quality brand. I don't know if I'll be comfortable enough to purchase today, but it'll be on my research list this weekend.
Stocktrader
Hi Stocktrader,
"hop on beer stocks" is a good write up for your thesis..it came out one hour ago...google it..by Barron's
Saleem
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