Indices closed near low of the day.
S&P 500 @ 1582.70
RSI @ 55.16
CMF @ 0.245
Internals were :
Down volume led by 4.97 to 1 in NYSE & 3.17 to 1 in Nasdaq
Declining stocks led by 2.62 to 1 in NYSE & 3.62 to to 1 in Nasdaq
Net new 52 wk highs were leading by 224 in NYSE & 76 in Nasdaq
VIX UP 7.17% @ 14.49
Oil @ $91.03
Gold @ $1446.20
AH ER :
CSOD Down 1.80%
FB UP .29% LVS UP .89% V UP 2.13% YELP UP 11.66%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was extremely weak. IF ECB makes a half hearted effort of cutting minimum .25%, there may be further selling. There is expectation from ECB to do more than bare minimum. Friday may be another down day due to weak jobs report. I am highlighting these so you can prepare for defensive posture for another two days. Market should find its footing by close on Friday which will be a good time to position for trades.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteI listened to the CSOD conference call. Despite the barely below expectations revenue number, their guidance for Q2 and FY13 were ahead of expectations. Their calculation comes from a very strong billings growth of 50% YoY this quarter which accelerated from last quarter's growth pace of 46% YoY and a strong pipeline of deals.
They are getting faster upsells into current clients, penetrating the SMB market easily with a best-of-breed product, and seeing less enterprise competition as previous competitors being acquired have altered or reduced focus (Taleo and SuccessFactors).
All in all I am very pleased and look forward to possibly a good day tomorrow in the stock. They seem to really be in the sweet spot for growth and pricing right now.
Stocktrader
Hi Stocktrader,
ReplyDeleteI am happy that you have good feeling about CSOD business trend & market share.
Guidance is more important than last Q.
Saleem