Wednesday, July 31, 2013

Indices closed mixed......

Indices closed mixed on Fed minutes.

S&P 500 @1685.73,high 1698.43, low 1684.94

RSI @ 61.57

CMF @ 0.241

Internals were :

UP volume led by .87 to 1 in NYSE & 1.22 to 1 in Nasdaq

Advancing stocks led by 1.05 to 1 in NYSE & 1.20 to 1 in Nasdaq

Net new 52 wk highs were leading by 128 in NYSE & 166 in Nasdaq

VIX UP .45% @ 13.45

Oil @ $105.03

Gold @ $1313.00

AH ER :

Negative reaction AUY Down .48%, SPWR Down 2.50%

Positive reaction YELP UP 7.46%, TRLA UP 11.11%

AH Futures UP

AH Asian Markets UP

AH Gold & Oil UP

About market, TAPE appears to have worked off froth in last seven trading days, 1698.78 high has been tested three times & it appears to be ready for a takeout. IF we break out 1750 is a logical target. This TAPE has amazing resiliency & did not correct even 2% this time, just marked time for about fourteen days @ support line of 1680 area. Get ready for a major lift off.

BLOG does NOT give buy or sell.

Saleem

AUY reports Q2 earning......

AUY reports the following for Q2 :

Sales Actual $430.5 million, expectation $484.64 million

EPS Actual 7 cents, expectation 10 cents

Gold Equivalent Ounce $950 which is all-in cost is lower by $64 per ounce from Q1 2013

Gold production is 295,545 sequential improvement of 2% from Q1 2013.

Cash flow from operation $195.4 million

Overall a good operating report in current environment based on Y/Y gold prices

AH trade $10.45 closed @ $10.50

Conference call @ 830 AM Thursday.

BLOG does NOT give buy or sell.

Saleem

Indices UP .14% to .54% .......NICE !!!!!

Fed statement has "no surprise" Growth trimmed slightly & no mention of ending stimulus.

S&P 500 @ 1691.98, high 1696.75

Internals are mixed

Oil UP $1.56

Gold Down $10.20

Canadian $ UP 19 tick @ 97.12

VIX UP .15% @ 13.41

Portfolio AMD CLF MU AUY

AUY reports AH, 
cc Thursday @ 830 AM
AUY expected to report Sales of $484.64 million, EPS @ 10 cents
Guidance expected Sales $586.73 million, EPS 11 cents
Hoping for an in-line report & guidance....

Most stocks are down

@ 2.15 following are green :

AMD MU KORS CSIQ WLT GMCR NFLX SODA
TSLA RDN BAC BBRY CMG M PANW BIDU
LNKD MA GRPN WPRT FNSR FSLR C
SINA MGA MS MLNX Z GS ......

BLOG does NOT give buy or sell.

Saleem

Tuesday, July 30, 2013

Indices closed mixed.......

Indices closed mixed on Fed statement watch.

S&P 500 @ 1685.96, high 1693.19

RSI @ 61.72

CMF @ 0.287

Internals were :

UP volume led by .93 to 1 in NYSE & 2.27 to 1 in Nasdaq

Advancing stocks led by 1.04 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 79 in NYSE & 94 in Nasdaq

VIX unchanged @ 13.39

Oil @ $103.08

Gold @ $1324.80

AH ER :

Negative reaction AMGN Down 1.96%, RVBD Down 15.46%

Positive reaction INVN UP .32%, BWLD UP .83%, SYMC UP 3.70%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE continues to look tired, internals are weak, few new highs. Fed statement may test the strength of this TAPE. Be on guard for any weakness. TAPE has the feeling that it wants to roll over.

BLOG does NOT give buy or sell.

Saleem

Indices are mixed......

Indices are mixed as wait & see for Fed statement continues.

S&P 500 @ 1684.03

Internals are negative.

Oil Down $1.68

Gold Down $4.40

Canadian $ Down 36 cents @ 97.05

VIX UP 5.23% @ 14.09

Portfolio AMD CLF MU AUY

Most stocks are down

@ 2.01 following are green :

AMD AUY FB CLDX KORS CSIQ SPWR
GMCR SODA TIF AAPL GOOG RDN
LULU EXPE CMG LVS BIDU FFIV
MA WPRT CRUS LRCX CIEN
NVDA FSLR SLW SINA
WYNN TRLA......

BLOG does NOT give buy or sell.

Saleem

Monday, July 29, 2013

Indices closed down .24% to .39%......


Indices paused today & closed slightly lower.

S&P 500 @ 1685.33

RSI @ 61.48

CMF @ 0.309

Internals were :

Down volume led by 2.09 to 1 in NYSE & 1.88 to 1 in Nasdaq

Declining stocks led by 2.33 to 1 in NYSE & 2.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 51 in NYSE & 69 in Nasdaq

VIX UP 5.27% @ 13.39

Oil @ $104.55

Gold @ $1328.40

AH ER :

HLF UP 5.81%

X Down .37%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, market internals have deteriorated suddenly which is a red flag for this aging bull. Carter Worth is not constructive on this market & expects a "major correction". Correction do start with negative internals.Please monitor internals for future trades.

BLOG does NOT give buy or sell.

Saleem

Indices down .21% to .31%.....

Indices are slightly lower while European market are flat.

S&P 500 @ 1686.55, low 1681.86

Internals are negative by 2 to 1

Oil UP 3 cents

Gold UP $6.90

Canadian $ UP 13 tick @ 97.33

VIX UP 6.05% @ 13.49

Portfolio AMD CLF MU AUY

Most stocks are down

@ 2.13 following are green :

CLF FB CSIQ SPWR WLT JCP SODA MGA
TSLA AAPL GOOG M BIDU MA AGU
GG WPRT CRUS BRCM WYNN
AMCC CIEN FNSR TRLA
MON NVDA X EGO
AEM.......

BLOG does NOT give buy or sell.

Saleem

Sunday, July 28, 2013

TAPE showing "renewed strength" ........

TAPE is showing renewed strength which cannot be ignored.

Thursday & Friday we opened weak & erased all the losses by close.

TAPE does not want to budge too far from its all time highs.....

S&P 500 high so far is 1698.78, Friday's low was 1676.03...this was a pullback of only 22.75 points or 1.34% in 4 trading days......

Majority of bad earnings are being ignored & some stocks are rewarded with "new all time highs" after bad earning.....AMZN is a classic example of this.....

Fed is meeting & Wednesday we will get their statement @ 2.15......no one should expect any surprise but a repeat of "confusing statement regarding timing of taper"...September may come into focus again & denials again & again until it actually tapers in September.

Friday is Jobs report, expectation is of 185K of  jobs growth, i think we may exceed this number.

I am expecting that by end of Friday, we could be sitting well above 1700.......

This IS the strongest TAPE i have observed, does not want to correct too much but wants to go HIGHER gradually.......

@ many juncture it felt that we could go down for an extended period but we find support quickly, current support lies in 1676 area.......

It is OK to be "nervous" about this market, but it is "more important to change when support is found"

NO two market TAPE is identical....this TAPE has its own unique strength which must be recognized by all participants......

YES there has been blowups in many stocks, some of them in my portfolio which has hurt me " in lack of performance"...but there are 1000's which has gone UP substantially.

We need to be objective in our view of this market, ones own performance does not necessarily represents overall market TAPE.

I do not believe that this bull run is over, it may get new strength based on new found strength in many leaders.

SO...sit back & let your portfolio breathe & run for better gains.

BLOG does NOT give buy or sell.

Saleem

Friday, July 26, 2013

Indices closed UP .02% to .22%.....NICE !!!!

Indices recovered nicely from early weakness. By the close all indices were green.

S&P 500 @ 1691.65, high 1691.85

RSI @ 65.42

CMF @ 0.230

Internals were :

Down volume led by 1.08 to 1 in NYSE & 1.29 to 1 in Nasdaq

Declining stocks led by 1.11 to 1 in NYSE & 1.64 to 1 in Nasdaq

Net new 52 wk highs were leading by 61 in NYSE & 113 in Nasdaq

VIX Down 1.93% @ 12.72

Oil @ $104.70

Gold @ $1321.50

Canadian $ Down 8 tick @ 97.09

In my portfolio :

Sold FB @ $34.60

Bought CLF @ $19.98

Here is my portfolio weighting :

AUY  33.37%

CLF  29.19%

MU  23.30%

AMD  14.14%

Exposure 121%

Stocks which were UP 1% or more included AMD CLF 
KOG TCK WLT JCP GMCR LNKD TSLA 
AMZN GRPN DNKN EBAY YUM 
LVS BIDU GG EGO AEM 
ECA QCOM SBUX.....

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 25, 2013

Indices closed UP .09% to .71%....NICE !!!!

Indices closed green after some hesitation.

S&P 500 @ 1690.25, high 1690.94

RSI @ 64.96

CMF 0.181

Internals were :

UP volume led by 1.59 to 1 in NYSE & 2.36 to 1 in Nasdaq

Advancing stocks led by 1.32 to 1 in NYSE & 1.92 to 1 in Nasdaq

Net new 52 wk highs were leading by 45 in NYSE & 201 in Nasdaq

VIX Down 1.59% @ 12.97

Oil @ $105.49

Gold @ $$1328.80

Stocks which closed UP 1% or more included AMD FB MU 
KORS EXPE YHOO CLDX SPWR TCK JCP NFLX 
LNKD TSLA TIF AMZN RDN LULU CMG 
PANW BIDU FFIV PCLN MA V GRPN
WPRT CRUS ZNGA BRCM AMCC 
FNSR QCOM FSLRSBUX STLD 
EGO SLW SINA MGA Z.......

AH ER :

Negative reaction AMZN Down 2.27%, CRUS Down 5.76%, TPX Down 12.42%, ZNGA Down 14.57%, EXPE Down 23.85%......

Positive reaction CLF UP 4.03%, SBUX UP 5.77%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE is still in positive mode @ close. Indices may still make a move higher in a gradual mode. TAPE is not displaying convincing strength but trend is still green. In this type of TAPE measure risk closely, book profit & have high comfort level.

BLOG does NOT give buy or sell.

Saleem



Indices mixed.....

Good earnings are being rewarded today.

S&P 500 @ 1686.16, high 1689.42

Internals are positive

Oil Down 12 cents

Gold UP $8.10

Canadian $ UP 36 tick @ 97.21

VIX Down 1.06% @ 13.04

In my portfolio :

Sold YHOO calls @ 45 cents

Sold KORS @ $64.32

Bought FB @ $32.75

Portfolio AMD FB MU AUY

Exposure 121%

Most stocks are UP

@ 2.21 following are red :

CLF CSIQ POT WLT LEN GMCR SODA 
AAPL GOOG HMC DNKN EBAY M
LVS COF GG JDSU CIEN SNDK
MON MS MLNX WYNN GS
FCX.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, July 24, 2013

Indices closed mixed......

Indices were mixed @ close.

S&P 500 @ 1685.94, high 1698.38

RSI @ 63.57

CMF @ 0.242

Internals were :

Down volume led by 2.88 to 1 in NYSE & 1.27 to 1 in Nasdaq

Declining stocks led by 3.12 to 1 in NYSE & 1.50 to 1 in Nasdaq

Net new 52 wk highs were leading by 141 in NYSE & 204 in Nasdaq

VIX UP 4.11% @ 13.18

Oil @ $105.39

Gold @ $1319.70

AH ER :

Negative reaction LVS Down .45%, STX Down 2.24%

Positive reaction V UP 2.01%,QCOM UP 4.17%,FFIV UP 8.08%
BIDU UP 13.87%, TRIP UP14.90%, FB UP 16.75%

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE is getting tired & internals are weak, quick trades are highly desirable.Even though earnings tonight are mostly strong but futures are not reflecting AH good reports .

BLOG does NOT give buy or sell.

Saleem

Indices mixed......

Indices are reacting to poor earnings & jump in 10 yr to 2.61%.

S&P 500 @ 1685.56, high 1698.38

Internals are negative.

Oil Down $2.11

Gold Down $21.70

Canadian $ Down 29 tick @ 96.86

VIX UP 6.16% @ 13.44

In my portfolio :

Doubled my position in MU @ $13.22

Portfolio AMD KORS MU AUY YHOO calls

Exposure 121%

Most stocks are down

@ 2.03 following are green :

KORS YHOO AAPL GMCR LNKD CMG
EBAY YUM PANW BIDU FFIV RVBD
CRUS FB ZNGA JDSU CIEN FNSR
NVDA SINA MGA Z.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, July 23, 2013

Indices closed mixed......

Indices closed mixed on softer earnings.

S&P 500 @ 1692.39, high 1698.78

RSI @ 67.29

CMF @ 0.291

Internals were :

UP volume led by 1.34 to 1 in NYSE & .58 to 1 in Nasdaq

Advancing stocks led by 1.31 to 1 in NYSE & .90 to 1 in Nasdaq

Net new 52 wk highs were leading by 217 in NYSE & 241 in Nasdaq

VIX UP 3.01% @ 12.66

Oil @ $107.23

Gold @ $1334.70

Stocks which were UP 1% or more included KORS AUY
RVBD CIEN RDN CLF LEN KOG SU GG EGO
SLW AEM TCK WLT X STLD ECA Z FCX

AH ER : BRCM Down 5.44%, AAPL UP 3.91%, VMW UP 11.99%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, Chinese Flash PMI is @ 11 month low, came in @ 47.7%. These ongoing weaknesses are the reasons that Chinese are going to make effort to ensure GDP @ 7%. This bad news may be taken as good news by US market. Market internals are not healthy thus exercise caution.

BLOG does NOT give buy or sell.

Saleem

Indices mixed......

Indices are mixed while commodities are higher on Chinese intent to prop their softening economy.

S&P 500 @ 1694.35, high 1698.78

Internals mixed

Oil UP 34 cents

Gold Down $1.20

Canadian $ UP 41 tick @ 97.07

VIX UP 1.06% @ 12.42

In my portfolio :

Bought 10 YHOO $28 Call for 15 cents..expiry this Friday

Portfolio AMD KORS MU AUY YHOO Call

Most stocks are UP

@ 1.56 following are red :

AMD MU AUY YHOO CLDX SPWR POT WYNN AGU
GMCR LNKD NFLX TIF AAPL GOOG GS IBN
HMC CF BBRY CMG AMZN EBAY 
YUM M PANW BIDU FFIV MA
PCLN V GRPN WPRT CRUS
ZNGA BRCM JDSU FNSR
C SNDK FSLR SBUX
MCD AEM CCJ 
SINA MGA
MLNX.....

BLOG does NOT give buy or sell.

Saleem


Monday, July 22, 2013

Indices closed UP .01% to .36%....NICE !!!!

Indices fought negativity from housing stats & earnings from MCD.

S&P 500 @ 1695.53, high 1697.61

RSI @ 69.12

CMF @ 0.257

Internals were :

UP volume led by 1.85 to 1 in NYSE & 1.74 to 1 in Nasdaq

Advancing stocks led by 1.34 to 1 in NYSE & 1.53 to 1 in Nasdaq

Net new 52 wk highs were leading by 253 in NYSE & 271 in Nasdaq

VIX Down 1.99% @ 12.29

Oil @ $106.91

Gold @ $1336.00

Stocks which closed green included KORS MU AUY
CLF CLDX SODA TCK X CSIQ SPWR FSLR 
GMCR TSLA GOOG HMC PCLN MA V
GG EGO SLW AEM JASO FNSR C
SNDK QCOM CCJ MGA Z GS
IBN FCX......

AH ER :

NFLX Down 3.99%, TXN UP 1.95%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, Indices made another closing high.Housing stocks are showing weakness due to rising interest rate & inventory. @ this stage in market & seasonality, it is important to book profit & be in strong sectors.

BLOG does NOT give buy or sell.

Saleem

Indices are mixed......

Indices are mixed with Dow being down. MCD earnings were weak.

S&P 500 @ 1693.74, high 1697.61

Internals are positive.

Oil Down $1.25

Gold UP $40.60

Canadian $ UP 32 tick @ 96.67

VIX UP 1.52% @ 12.73

Portfolio AMD KORS MU AUY

Most stocks are UP

@ 1.49 following are red :

AMD YHOO POT WLT JCP LEN LNKD MOS
NFLX AMZN EXPE CF LULU CMG MON
EBAY YUM PANW BIDU FFIV MCD
COH GRPN WPRT RVBD SINA
CRUS LRCX BRCM MLNX
AMCC JDSU CIEN AGU....

BLOG does NOT give buy or sell.

Saleem

Sunday, July 21, 2013

Many cross-current in play now......

TAPE is @ major inflection point. To analyze we have to look @ the following to see what they are trying to say :

-S&P 500 @ 1692.09

-RSI @ 68.24

-Oil @ $108.05

-Gold @ $1292.90

-VIX @ 12.54

-Bulls @ 52.1%

-Bears @ 19.8%

-AAPL & AMZN earning

Each of the above are a catalyst for a major move......direction depends on where we are looking @......

I have color coded them to show where the direction could be......it is important to pay attention to RED & GREEN....

-Complacency is the-most dangerous stage in investing or trading......

-Earning season IS coming to an end, as expected Techs are showing weak result which will be reinforced until Q4.........

-Base Metals are in no position to make any notable move yet, could be 2014 story.

-AG are also in DEEP trouble with grain prices hitting low & inventory on the rise.

-Financial are the only group which IS improving with a tick UP in interest rates.

SO..it is time to reflect on what has been a great run in 2013 so far...BUT we have another FIVE+ plus months to go.......next 75 days may be challenging.....

It is wise to book gains ASAP.........

BLOG does NOT give buy or sell.

Saleem

Friday, July 19, 2013

Mixed close.......

Only S&P 500 closed @ absolute high of the day.

S&P 500 @ 1692.09

RSI @ 68.24

CMF @ 0.267...highest level since May 2013

Internals were :

UP volume led by 1.29 to 1 in NYSE & .68 to 1 in Nasdaq

Advancing stocks led by 1.06 to 1 in NYSE & .92 to 1 in Nasdaq

Net new 52 wk highs were leading by 227 in NYSE & 188 in Nasdaq

VIX Down 8.93% @ 12.54...52 wk low 11.05 on March 14, 2013

Oil @ $108.05

Gold $1292.90

Canadian $ @ 96.35

Green close included KORS AUY MU
CLDX WLT CSIQ POT LEN CF
TSLA AMZN LULU CMG SU
PANW COH CRUS LRCX 
FNSR SNDK QCOM 
MON EGO GG 
AEM MLNX 
SLW FCX

Here is my portfolio weighting :

AUY  35.04%

KORS 34.96%

AMD  16.20%

MU  13.80%

Exposure 115%

Next post by 2 PM Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 18, 2013

Indices closed UP .04% to .50%.....NICE !!!!!

Indices made another closing high.

S&P 500 @ 1689.37, high 1693.12

RSI @ 67.56

CMF @ 0.155

Internals were :

UP volume led by 2.62 to 1 in NYSE & 1.26 to 1 in Nasdaq

Advancing stocks led by 2.15 to 1 in NYSE & 1.77 to 1 in Nasdaq

Net new 52 wk highs were leading by 303 in NYSE & 316 in Nasdaq

VIX Down .07% @ 13.77

Oil @ $108.04

Gold @ $1284.20

Stocks which closed green included AMD MU AUY
POT WLT CLF GMCR LNKD TIF AAPL RDN
EXPE BAC YUM LVS PANW BIDU COH
MA V JDSU CIEN C SNDK ......

AH ER :

Negative reaction AMD Down 3.88%, GOOG Down 4.15%,
MSFT Down 6.29%,ISRG Down 11.89%

Positive reaction CMG UP 5.34%, SWKS UP 6.68%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, earnings report are on the weak side. Based on momentum, poor earnings may be ignored.TAPE is in a forgiving mood & PE is expanding.I am expecting another positive close.

BLOG does NOT give buy or sell.

Saleem

AMD Beats Q2 Sales & EPS...Guiding well above Q3 estimates......

AMD is reporting the following numbers :

Sales actual $1.16 Billion, expectation $1.11 Billion...Beat

EPS Loss 9 cents, expectation loss 13 cents...Beat

Q3 Sales Guidance $1.415 Billion, expectation $1.22 Billion...Beat

Q3 Sales guidance is 22% higher sequentially........

AMD Bid $4.47 Ask $4.48, closed @ $4.64...Down 17 cents or 3.66%....

Conference call @ 5 PM.......

BLOG does NOT give buy or sell.

Saleem

Indices UP .16% to .59%...NICE !!!!!

Indices are moving UP as Ben Bernanke clarified his methodology for tapering. European markets are UP from .72% to 1.44%....

S&P 500 @ 1690.26, high 1693.12

Internals are positive by 2 to 1

Oil UP $1.47

Gold UP $8.10

Canadian $ UP 21 tick @ 96.19

VIX Down .80% @ 13.67

In my portfolio :

Sold EBAY @ $53.55

Sold KOG @ $9.18

Added proceed from EBAY into AMD @ $4.42

Added proceed from KOG into KORS @ $62.10

Portfolio AMD KORS MU AUY

Exposure 115%

AMD reports tonight expectations are Q2 Sales $1.11 Billion, EPS loss of 13 cents, guidance expected Q3 Sales $1.22 billion EPS loss of 2 cents...expecting better guidance in EPS...

Most stocks are UP

@ 3.00 following are down :

KORS CSIQ LEN NFLX AMZN GOOG (reports tonight)
BBRY CMG M PCLN GG GRPN WPRT RVBD CRUS
AMCC QCOM MOS STLD SLW AEM  FB Z....

BLOG does NOT give buy or sell.

Saleem

Wednesday, July 17, 2013

Indices closed UP .12% to .32%......NICE !!!!

Indices were given a helping hand by Ben Bernanke.

S&P 500 @ 1680.91, high 1684.75, low 1677.91

RSI @ 65.43

CMF @ 0.085

Internals were :

UP volume led by 2.0 to 1 in NYSE & 1.83 to 1 in Nasdaq

Advancing stocks led by 1.93 to 1 in NYSE & 1.43 to 1 in Nasdaq

Net new 52 wk highs were leading by 139 in NYSE & 233 in Nasdaq

VIX Down 4.44% @ 13.78

Oil @ $106.48

Gold @ $1277.50

Stocks which were UP 1% or more included EBAY KOG MU
QCOM STLD LNKD SINA FB Z SODA NFLX TSLA
HMC RDN CF LULU BAC PANW BIDU GRPN
AMCC JDSU FNSR C.......

AH ER :
 Negative action AXP Down 1.04%, INTC Down 3.48%, EBAY Down 5.93%
Positive action IBM UP 2.48%, XLNX UP 3.26%, SNDK UP 6.66%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, there is one technician who believes that Thursday the 18th of July IS the day to sell stocks as we seasonally enter corrective phase. I think many sectors & stocks escape negative TAPE as they are seasonally strong in summer months.

BLOG does NOT give buy or sell.

Saleem

EBAY Q3 guidance below consensus.......

EBAY reported following numbers :

Q2 Sales actual $3.90 Billion, expectations $3.89 billion..Beat

Q2 EPS actual 63 cents, expectations 63 cents...meets

Q3 Sales guidance $3,850 to $3,950 Billion, expectation $3.97 Billion...below

Q3 EPS guidance 61 cents to 63 cents, expectation 65 cents....below

Full year guidance Sales $16.25 billion, expectation $16.31 billion...below

Full year guidance EPS $2.73, expectation $2.75..below

EBAY shares Bid $53.84 Ask $53.85...closed @ $57.38 Down $3.54 or down 6.17%

BLOG does NOT give buy or sell.

Saleem




Indices UP .08% to .35%.....NICE !!!!

Indices are UP thanks to no surprise from Ben Bernanke. Beige book also showing modest to moderate growth.

S&P 500 @ 1682.05

Internals are positive

Oil Down 2 cents

Gold Down $14.60

Canadian $ Down 39 tick @ 95.94

VIX Down 4.30% @ 13.80

In my portfolio :

Bought AMD @ $4.38

Portfolio AMD EBAY KOG KORS MU AUY

Exposure 115%

Most stocks are UP

@ 2.09 following are red :

AMD AUY CSIQ POT JCP AAPL DNKN CMG
YUM M LVS COH GG V BRCM SNDK
NVDA SBUX MCD EGO SLW AEM
WYNN AGU IBN FCX....

EBAY reports tonight, expectations are Sales $3.89 Billion & EPS 63 cents.....as big money is supporting this stock, expect a positive TAPE AH.

BLOG does NOT give buy or sell.

Saleem

Tuesday, July 16, 2013

Indices closed down .21% to .37%......

Indices had a slight pullback.

S&P 500 @ 1676.26, low today 1671.84

RSI @ 64.23

CMF @ 0.121

Internals were :

Down volume led by 1.78 to 1 in NYSE & 1.37 to 1 in Nasdaq

Declining stocks led by 1.85 to 1 in NYSE & 1.21 to 1 in Nasdaq

Net new 52 wk highs were leading by 153 in NYSE & 234 in Nasdaq

VIX UP 4.57% @ 14.42

Oil @ $106.00

Gold @ $1290.40

AH ER YHOO UP .82%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, before open Fed testimony will be released, it is the Q&A from 10 AM which will keep markets guessing. Ben Bernanke can create confusion for market when answering question. Hopefully when first testimony is over market can breathe easy.

BLOG does NOT give buy or sell.

Saleem

Indices down .17% to .35%.....

Indices are taking a rest after many days of UP move. European markets are lower by .41% to .83%.

S&P 500 @ 1676.27, high today 1683.73

Internals are negative.

Oil Down 37 cents

Gold UP $7.30

Canadian $ UP 51 tick @ 96.41

VIX UP 3.77% @ 14.31

In my portfolio :

Sold BBRY @ $9.25

Bought MU @ $13.27

Bought KORS @ $61.85

Portfolio EBAY KOG KORS MU AUY

Exposure 113%

Most stocks are down

@ 2.19 following are green :

EBAY KOG MU AUY CSIQ TCK LEN NFLX
AMZN AAPL EXPE RDN SU BIDU GG
CRUS FB BRCM AMCC QCOM
NVDA MCD EGO SLW AEM
SINA MLNX WYNN.....

BLOG does NOT give buy or sell.

Saleem

Monday, July 15, 2013

Indices closed UP .13% to .21%.....NICE !!!!

Indices continues to show strength & closed green.

S&P 500 @ 1682.50, high 1684.51

RSI @ 67.13

CMF @ 0.135

Internals were :

UP volume led by 1.78 to 1 in NYSE & 1.74 to 1 in Nasdaq

Advancing stocks led by 1.66 to 1 in NYSE & 1.92 to 1 in Nasdaq

Net new 52 wk highs were leading by 279 in NYSE & 324 in Nasdaq

VIX Down .36% @ 13.79

Oil @ $106.32

Gold @ $1283.50

Stocks which were UP 1% or more included BBRY
WPRT CSIQ FSLR SPWR MU TCK CLF 
GMCR TIF FB ZNGA AMCC CIEN
C YUM M LVS BIDU FFIV Z
SINA MS.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE may pause for Ben Bernanke testimony in front of politicians. Sector rotation is slowly making its move. As TAPE is near high point in RSI, it is important to focus on booking some gains.

BLOG does NOT give buy or sell.

Saleem

Indices UP .14% to .19%....NICE !!!!

Indices are UP as Chinese GDP came as expected, Q2 growth was 7.5%.

S&P 500 @ 1682.55, high so far 1682.94

Internals are positive

Oil UP 14 cents

Gold UP $6.20

Canadian $ Down 19 tick @ 95.93

VIX Down .72% @ 13.74

In my portfolio :

Doubled my position in KOG @ $8.54

Portfolio EBAY KOG BBRY AUY

Exposure 107%

Most stocks are UP

@ 1.55 following are down :

EBAY KOG LEN KORS LULU TSLA AMZN
PCLN DNKN CMG GG MA GRPN LRCX
BRCM JDSU QCOM MOS NVDA  MCD
SBUX SU SLW AEM CCJ MGA IBN
MLNX.....

BLOG does NOT give buy or sell.

Saleem

Sunday, July 14, 2013

Chinese GDP report may scare this market ?

Everything seems to be very good for this market.....Fed supportive....TAPE strong......Momentum building up......what not to like?

Chinese GDP data may give pause .......

China has been targeting 7.5% GDP growth......but lately weakness is creeping up in Chinese economy.....

Chinese Foreign Minister made a "startling comment" in New York few days back......he said "we are going to grow GDP @ 6.5% to 7%.......this statement is a change from previous guidance of 7.5%......this implies that 2nd half Chinese GDP growth may be around 6% only.......

IF Chinese GDP is on the lower end, it may signal another sell off in Commodities ......

Ben Bernanke is testifying before House & Senate...which is after potentially weak Chinese GDP. BB may be more supportive in his testimony....thus a positive for TAPE.

Earnings season are another positive, most estimates are low low low...easy to beat & guide higher.....

Some of the sector rotation are in play these days....Gold, Oil & Ag are the next to move.......

Tech is favoured from October to January........do not be surprised IF there is profit taking after earnings in this sector......

Many technicians are starting to play catch-up as they are caught in their bearish thesis.

S&P 500 @ 1680.19......we are heading much higher to series of new highs.......reason is that we are getting strength in US economy.........it is a US growth story.......

This summer could be very interesting for all participant.

As you have noted about my predictions, it IS based on the TAPE, sometimes i can see weakness when it is not there & it comes to reality in few days. It is also important to quickly do a reset IF TAPE is turning UP.

Good luck with your stock picks & strategy.

BLOG does NOT give buy or sell.

Saleem

Friday, July 12, 2013

Indices closed UP .02% to 0.61%.....NICE !!!!!

Indices closed @ another record.

S&P 500 @ 1680.19...closed @ absolute high of the day.

RSI @ 66.62

CMF @ 0.094

Internals were :

UP volume led by 1.28 to 1 in NYSE & 1.64 to 1 in Nasdaq

Advancing stocks led by 1.01 to 1 in NYSE & 1.21 to 1 in Nasdaq

Net new 52 wk highs were leading by 224 in NYSE & 285 in Nasdaq

VIX Down 1.21% @ 13.84

Oil @ $105.95

Gold @ $1277.60

Stocks which were UP 1% or more included EBAY
LNKD NFLX TSLA AMZN EXPE PCLN
BAC C GS MS FFIV CRUS AMCC 
JDSU FNSR QCOM CSIQ FSLR
SPWR Z CLDX.....

Here is portfolio weighting :

AUY  36.32%

EBAY 30.97%

BBRY 23.00

KOG  9.71%

Exposure 102%

Next post by 2 PM Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 11, 2013

Indices closed UP 1.11% to 1.63%....NICE !!!!

Indices closed in record territory, S&P 500 & Dow @ all time high & Nasdaq @ best level since 2000.

S&P 500 @ 1675.02, high 1676.63

RSI @ 65.49

CMF @ 0.087

Internals were :

UP volume led by 7.72 to 1 in NYSE & 5.12 to 1 in Nasdaq

Advancing stocks led by 6.78 to 1 in NYSE & 2.68 to 1 in Nasdaq

Net new 52 wk highs were leading by 349 in NYSE & 376 in Nasdaq

VIX Down 1.41% @ 14.01

Oil @ $104.91

Gold @ $1279.90

Stocks which were UP 3% or more included AUY
WLT CLF TCK JCP LEN LNKD RDN CF
SU PANW BIDU FFIV GG EGO SLW 
AEM RVBD ZNGA JDSU CIEN
FNSR FSLR SPWR MLNX
WYNN IBN FCX......

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, IBD has changed its rating tonight to "new uptrend". Even stockcharts were extremely bearish going into this week which i inferred in my Sunday BLOG. It is interesting to see how such big outfit got this TAPE so wrong. Everything is lined up for a move to series of new all time highs. Looks like RSI may hit 75 before any serious pullback.

BLOG does NOT give buy or sell.

Saleem