Indices continued their record setting ways by closing with new records in the book. All indices closed near high of the day.
S&P 500 @ 1625.96, high 1626.03
RSI @ 66.99
CMF @ 0.278
Internals were :
UP volume led by 2.66 to 1 in NYSE & 1.04 to 1 in Nasdaq
Advancing stocks led by 3.08 to 1 in NYSE & 1.69 to 1 in Nasdaq
Net new 52 wk highs were leading by 436 in NYSE & 215 in Nasdaq
VIX UP 1.34% @ 12.83
Oil @ 95.62
Gold @ $1448.80
In my portfolio :
Sold KOG
Added 75% AUY @ $11.72
Portfolio EBAY BBRY AUY......AUY becomes my largest position....low RSI was the-reason for switch.
Exposure 98%
Stocks which were UP 2% or more included KOG
RDN YHOO SU KORS LNKD MU Z IBN.....
AH ER :
Negative reaction DIS Down 1.47% Z Down 4.88% AXLL Down 10.62%
Positive reaction EA UP 7.88% WFM UP 8.19%
AH Futures Mixed
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, Chinese Export data was better than expected, Chinese Import data was better than expected, Chinese Trade balance was better than expected..all of these numbers were a substantial beat. This bodes well for world markets as there was fear of Chinese slowdown. Based on these numbers China may be able to exceed its GDP target of 7.5%. Watch for euphoric move to lock in gains.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Sold AXLL @ 51.12. From the conference call, some of the cost increases were not only not one-time, but they expect even more cost pressures throughout this year. I had to sell and need to reset my thoughts on this name. It seems earnings power has structurally lowered for this year at least.
Stocktrader
Hi Stocktrader,
Not every stock works out, just the law of averages.
Good luck on your next pick.
Saleem
Hey Saleem,
Bought OCN @ 39.226 after hearing a compelling argument from the SALT conference about earnings power and possible return of cash to shareholders. I was looking for another housing derivative after I sold both RDN and AXLL in recent days and I'll try this one out.
Stocktrader
Hi Stocktrader,
Good luck with OCN.
Saleem
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