Indices are heading lower again making lower lows.
S&P 500 @ 1615.20, low 1614.46, 50 DMA 1610.71
Internals are negative.
Oil UP 48 cents
Gold UP $13.00
Canadian $ Down 19 tick @ 97.97
VIX UP 6.62% @ 18.20
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 2.15 following are green :
AUY KOG TSLA EXPE LEN TZA CMG
YUM GG SLW AEM WPRT MCD X
RVBD GMCR SPLK MLNX FCX
SNDK....
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Sold F @ 15.48 to buy HPQ @ 25.18.
F is vulnerable to both currency fluctuations and interest rates, while HPQ looks like an easier play of above expectation revenues, strategic cost cutting, and extremely low valuation even still.
If you didn't get a chance to see the interview with the CEO, it is worth a look--they might have it on the CNBC website? Besides great strategic vision, she mentioned the possibility for increased revenues next year and currently the consensus is for a decline. I also got the impression their jobs cuts to streamline operations were going well.
Stocktrader
Hey Saleem,
Also on my radar is LULU after two days of heavy declines. The exiting well-loved CEO will stay on at least through the next six months if needed and plans to remain on the board. She has also laid out 5- and 10-yr strategic plans for the company. As they attempt to transform into a worldwide company with a different set of challenges than the current CEO has addressed in her time, it may turn out a net benefit to retain the strategic vision of the old CEO (with plans in place and board seat) but have the execution of a well-seasoned CEO with global supply chain experience.
Stocktrader
Hi Stocktrader,
Good luck with HPQ.
I will watch Meg Whitman today.
Good luck with HPQ.
Saleem
Hi Stocktrader,
Many stocks could be very interesting including LULU...but indices need to be stable first...i have bad feeling about this current weakness..lower lows are not healthy.
Saleem
Hey Saleem,
We're about to hit that 50 DMA again which is at 1610.54. My suspicion is that we rally hard into close after overdoing weakness today.
If we do break, ~1600 is the next area of support as the lows of next week, and below that, uh oh...
Stocktrader
Hi Stocktrader,
I do not see much catalyst..until fed acts......sell on the rumour & buy the news.....
We missed 50 DMA by 31 tick...
Saleem
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