All indices are in record territory again, Dow all time high & S&P 500 & Nasdaq making multi year highs. US jobs report came in ahead @ 236,000. Canadian jobs report came in @ 50,700 consensus was 8,000 only.
S&P 500 @ 1551.18
RSI @ 67.49
CMF @ 0.258
Internals were :
UP volume led by 2.17 to 1 in NYSE & 1.92 to 1 in Nasdaq
Advancing stocks led by 2.07 to 1 in NYSE & 2.16 to 1 in Nasdaq
Net new 52 wk highs were leading by 335 in NYSE & 232 in Nasdaq
VIX down 3.6% @ 12.59
Oil @ $91.95
Gold @ $1576.90
Canadian $ @ 97.17
In my portfolio :
Bought JCP @ $14.77
Portfolio is BAC,JCP,BBRY,YHOO
Exposure 88%
Stocks which were UP 1% or more included JCP,
RDN,M,LULU,CF,POT,MOS,HMC,CRUS,
GMCR,MU,JDSU,C,MCD,X,STLD,SINA,
SPWR,ECA,BJRI,MLNX,AGU,IBN.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
A nice, steady bullish week in the markets helped the portfolio gain 2.9% versus the S&P's 2.2%. The big gainers were BSFT (+21.4%), PRU (+8.4%), and PFPT (+6.08%) with the only notable loser of PANW (-4.44%). Here's the current portfolio:
Primary holdings: SPLK PFPT CSOD PRU PANW CF AXLL
Secondary holdings: DSPG BSFT MS CRUS RDN AUDC APWC
Cash: 0.04%
This week I made some moves to sell WPRT, SODA, SONS, and HLF, while picking up CRUS, RDN, MS, and some AUDC. Although I laid out reasons for each sell (and still stand by those rationales), it is easy to get confused in strong bull markets between just a pause and more sinister underperformance reasons. Also, my reason for a sale is often to purchase something else that interests me more, but the nature of true bull markets is rotating strength, so I need to be very careful about exits and entries. In particular, I may have made some hasty transactions on RDN/MS/WPRT/SODA and will watch those carefully for price indications different than my position. Also, the weakness in PANW has my attention.
Overall, there's not much to say about the market except that we continue to improve both in economic strength and stock prices. I don't see anything for now that causes me concern except for possibly the first Italian parliament meeting later this week. As usual though, this would represent a great buying opportunity if stocks drop at all.
With respect to individual sectors, I am fairly heavy in technology yet underexposed to materials given my bullish stance on economies and markets. Given how beaten down some of my favorites are here like CLF/WLT (and strength like STLD!), I continue to think about different reasons and prices to own these.
A bull market like this is often forgiving if you are patient, but vicious if you move around a lot (and end up selling something low and buying something high). I will continue to work on patience and thoughtfulness as we continue our journey in this strong and steady bull market.
Stocktrader
Hi Stocktrader,
I am happy that you outperformed broad averages, mark of a good portfolio.
YES..it is important to critically examine each move to understand TAPE better.
Saleem
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