Indices rocketed UP again.
S&P 500 @ 1650.34
RSI @ 71.49
CMF @ 0.369
Internals were :
UP volume led by 3.62 to 1 in NYSE & 2.72 to 1 in Nasdaq
Advancing stocks led by 2.03 to 1 in NYSE & 2.37 to 1 in Nasdaq
Net new 52 wk highs were leading by 468 in NYSE & 257 in Nasdaq
VIX UP 1.75% @ 12.77
Oil @ $94.21
Gold @ $1424.50
Stocks which were UP 1% or more included EBAY KOG
PANW LULU DNKN AMZN GOOG EXPE PCLN
LEN BAC JCP YUM M LVS WYNN LNKD MA
GMCR LRCX FNSR C SNDK RDN CSIQ
NVDA SBUX SPWR MS Z GS......
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, what can you say about a market which keeps making new all time highs in S&P 500 & Dow, Nasdaq @ 12 yr high on higher volume.Many stocks in many sectors are near bear market lows. Eventually all boats are lifted. Try to be in market with a mix of strong & laggards. TAPE looks very good & expect more highs.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
I dabbled in a couple of "story" stocks today.
Bought BTU @ 19.92 on its slashed capex guidance. This will give them more cash available and give rationality to the prices of coal as others cut expansion plans as well.
Bought DE @ 90.42 (bad chase up) on expectations that guidance is reset lower and that farmer spending must eventually return.
Stocktrader
Hi Stocktrader,
AG & Coal will move UP substantially..their seasonal strength is from June forward.
Good luck with DE & BTU.
Saleem
Hey Saleem,
I'm really looking at CF again. I think natural gas might be topping out given the ease of bringing supply on and the abundance of it, and the stock buyback they have in place really seems to be supporting the EPS--estimates keep rising despite the analysts lowering targets. Finally, the chart looks to have really good support here after having bounced off $190 for five straight days. It also is a commodity that is more dollar independent than some others.
Stocktrader
Hey Saleem,
Decided to buy CF @ 192.15.
Stocktrader
Hey Saleem,
Bought SWC @ 11.918 on rising palladium prices in the face of this strong dollar and a successful retest of its rising 200 DMA. Also, it seems like commodities have a bit of run today.
Stocktrader
Hi Stocktrader,
Good luck with CF & SWC.....
Market is super-strong.
Saleem
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