Indices are displaying technical strength by closing higher near high of the day & in the process making higher highs..
S&P 500 @ 1472.05
RSI @ 64.59
CMF @ 0.223
Internals were :
UP volume led by .73 to 1 in NYSE & 1.66 to 1 in Nasdaq
Declining stocks led by 1.12 to 1 in NYSE & .99 to 1 in Nasdaq
Net new 52 wk highs were leading by 231 in NYSE & 110 in Nasdaq
VIX down .96% @ 13.36, made a new 52 wk low today @ 13.22
Oil closed @ $93.56
Gold closed @ $1660.60
Canadian $ closed @ 101.58
Stocks which were UP 1% or more included KORS,
FB,YHOO,RVBD,RIMM,PANW,BIDU,FFIV,
COH,GMCR,LRCX,MU,SNDK,EGO,MLNX,
AGU.....
In my portfolio :
Bought APKT @ $22.79
Portfolio weighting is :
TCK 23.39%
KORS 21.45%
YUM 18.76%
JCP 15.65%
CF 13.60%
APKT 7.15%
Exposure 82%
Next post by 2 PM Sunday
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
It was a nice Friday to a relatively quiet week with many of my high-growth stocks outperforming. Here's the portfolio now in % of total and also % change on week:
GGC - 10.6%, +18.0% on week
PANW - 9.5%, +9.5% on week
CRUS - 9.3%, +11.5% on week
SPLK - 9.3%, +8.7% on week
GWAY - 9.0%, -1.4% on week
WLT - 8.8%, -1.9% on week
PFPT - 7.8%, +0.8% on week
STLD - 7.3%, +1.8% on week
ETP - 6.9%, +0.7% on week
CF - 6.4%, +3.4% on week
FIO - 6.3%, -9.7% on week
PRU - 6.2%, +2.4% on week (from Monday purchase price)
APWC - 2.7%, +3.2% on week
I was pleased with the portfolio this week, and even the laggard FIO showed some life Friday. I think at this moment I have three different stocks all being talked about in buyout rumors by IBM (SPLK, PANW, FIO). Obviously these won't all happen (or none even), but I think it speaks to the fact that they are leading companies in emerging industries.
The majority of companies will report earnings in the next two weeks and I look forward to hearing about they are adapting to many of the short-term uncertainties in the US, but stabilization/growth throughout the rest of the world. As usual, the good companies will shine in stock price.
Given the focus on earnings the next two weeks, coupled with the beginning of the year positive seasonality, I expect a grind higher through the end of the month.
In February, I'll be worrying about things like slow reported January consumer spending and heightened debt ceiling rhetoric, along with a potential post-earnings lull as catalysts remain elusive for a while. Even during this time, the buy on the dip mentality may remain.
Altogether, I'm looking for positive earnings coupled with positive fund flows to bring upside to the markets in the near future. Many of the old "scares" no longer have the punch they used to, and we could see a great 2013.
Happy trading! :)
Stocktrader
Hi Stocktrader,
My overall return was a contrast to your super positive week..me down 1.54%......
GGC has been outstanding for you since purchase.
2013 should be a very interesting year for most of us......
Saleem
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