Tuesday, February 19, 2013

Indices closed UP to fresh new highs...NICE !!!!

Indices made a strong finish to new multi-year highs.

S&P 500 closed @ absolute highest level today @ 1530.94

RSI @ 70.98

CMF @ 0.356

Internals were :

UP volume led by 2.33 to 1 in NYSE & 2.76 to 1 in Nasdaq

Advancing stocks led by 2.25 to 1 in NYSE & 2.11 to 1 in Nasdaq

Net new 52 wk highs were leading by 261 in NYSE & 211 in Nasdaq

VIX closed Down 1.20% @ 12.31

Oil @ $96.60

Gold @ $1604.20

Stocks which were UP 1% or more included BAC,BBRY,YHOO,
FB,KORS,LULU,AMZN,CSOD,GOOG,M,RVBD,YUM,
FFIV,COH,GMCR,ZNGA,MU,BRCM,JDSU,CIEN,
FNSR,C,FSLR,CCJ,ECA,MS,MLNX,GS,AGU,
IBN......

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was strong & closed @ or near highs of the day. TAPE has resumed strength after basing for couple of weeks. I expect more follow through to this UP move. Internals are stronger also.

BLOG does NOT give buy or sell.

Saleem

6 comments:

stocktrader_1996 said...

Hey Saleem,

Despite the YNDX pullback, my portfolio was up over 0.5%. It's good to be diversified! Strong days from CSOD, DSPG, and MLNX helped.

Although I took some profits today, I look back and wonder why I did. This market is so strong, closing on the highs again--amazing! The chorus of skeptics just grows louder and louder also.

Stocktrader

Stocks100 said...

Hi Stocktrader,

I am quite "optimistic when majority is pessimistic".......was quite worried when everyone was super positive......

I noticed YNDX when i was analyzing overall market after close.

You still came out ahead which is the beauty of your diversification.

looks like new highs in S&P 500 is in the cards.....

Good luck with your portfolio.

Saleem

stocktrader_1996 said...

Hey Saleem,

Do you have any experience with SODA? The revenue growth numbers look impressive even if profitability guidance came up light. Given they have a steady stream of revenue once they get an installed base, it seems like a great business model. I know on and off over the years there's threat of competition from KO/PEP and also fears of a fad that might die, but I sort of feel like this method of carbonated beverages could gain traction with households still.

I really don't have much experience with the company yet, but I'm doing some homework...

Stocktrader

Stocks100 said...

Hi Stocktrader,

I have been curious about SODA for a while......

Based on last ER, they were flat to down on some metrics which may provide a good trade IF the price is right.....

I will keep an eye on this Israeli success story.....

Saleem

stocktrader_1996 said...

Hey Saleem,

Bought some SODA at 49.798. The chart has pulled back enough that I think there's decent risk/reward here and also visible support levels with the rising 50 DMA at 47.13 and the double candle bounce at 46.15/46.65 on 1/31 and 2/1 respectively. It's also had a pretty good bounce today from the lows and the big sellers appear to have dried up. Interestingly, there are also 8.17M shares short which represents 55.3% of the float.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good move on SODA..it has moved UP substantially from low & your purchase price.

Saleem