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
Hey Saleem,
ReplyDeleteDespite 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
Hi Stocktrader,
ReplyDeleteI 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
Hey Saleem,
ReplyDeleteDo 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
Hi Stocktrader,
ReplyDeleteI 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
Hey Saleem,
ReplyDeleteBought 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
Hi Stocktrader,
ReplyDeleteGood move on SODA..it has moved UP substantially from low & your purchase price.
Saleem