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
2 comments:
Hey Saleem,
I 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,
I am happy that you have good feeling about CSOD business trend & market share.
Guidance is more important than last Q.
Saleem
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