Tuesday, February 12, 2013

S&P 500 closed @ new multi-year highs.....NICE !!!

Indices closed mixed with Nasdaq being in red.

S&P 500 @ 1519.43

RSI @ 67.04

CMF @ .406

Internals were :

UP volume led by 1.96 to 1 in NYSE & 1.28 to 1 in Nasdaq

Advancing issues led by 1.85 to 1 in NYSE & 1.61 to 1 in Nasdaq

Net new 52 wk highs were leading by 270 in NYSE & 145 in Nasdaq

VIX closed Down 2.32% @ 12.64

Oil @ $97.51

Gold @ $1649.60

Stocks which were UP 1% or more included BAC,YHOO,
KORS,EXPE,PCLN,LEN,PANW,GMCR,BRCM,C,
FSLR,SLW,AEM,MS,BJRI,GS.....

AH ER CLF Down 10.13%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

In my portfolio :

Sold 40% BBRY

Bought YHOO @ $21.22

Portfolio is FB 30.04%, BBRY 26.69%, YHOO 26.07%, BAC 17.20%

Exposure 75%

About market, Internals & volume remains a question mark. As i am uncomfortable with these divergence which is telling me that rally is weakening or is of low quality, i will be trading a lot to book quick profit & re-entering same trades @ slightly lower prices.

BLOG does NOT give buy or sell.

Saleem

6 comments:

stocktrader_1996 said...

Hey Saleem,

I am very surprised at the CSOD reaction so far. At least volume has been low--maybe it's not the true "read" yet.

Also, thank goodness I got rid of CLF on Monday--WOW!

Stocktrader

Stocks100 said...

Hi Stocktrader,

YES..CLF is a disaster today.....good move on your part.

Saleem

stocktrader_1996 said...

Hey Saleem,

I think CSOD might be experiencing some sympathy selling from RAX's debacle--that's the only thing I can think of to explain the weakness. The one analyst note I saw was the following:
***
09:15 EDT CSOD Cornerstone OnDemand price target raised to $36 from $30 at Pacific Crest

Pacific Crest increased its target on Cornerstone OnDemand after the company reported higher than expected Q4 revenue and operating cash flow. The firm raised its estimates and maintains an Outperform rating on the stock.
***

Stocktrader

Stocks100 said...

Hi Stocktrader,

Pacific Crest carries lot of weight....thus i am surprised that instead of positive TAPE CSOD is negative today.....

Hopefully, another day & rethink.

Saleem

stocktrader_1996 said...

Hey Saleem,

Added to SONS and DSPG which were underweight in the portfolio while I gained more comfort.

Stocktrader

Stocks100 said...

Hi Stocktrader,

SONS & DSPG chart looks explosive.....golden cross & all.

Good luck$$$$

Saleem