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

14 comments:

stocktrader_1996 said...

Hey Saleem,

Wow, great report out of SODA. I wonder how everyone could have been so wrong, unless it was simply a valuation problem after the takeover rumors were dismissed.

I'm not sure my next move here, although I'm inclined to buy back because I have few other ideas and the sentiment is so mixed up in SODA (although that could be a danger also).

Stocktrader

Stocks100 said...

Hi Stocktrader,

Hedge funds CAN create panic in any stock to get cheap shares.

SODA UP 9% so far....

Good luck with your strategy.

Saleem

stocktrader_1996 said...

Hey Saleem,

Despite tough comps with the WMT rollout in last year's Q2, they really crushed the numbers. It currently seems like an accelerating growth story, and there's an growing aura of "cult-like" status in Sodastream users. I'm disappointed I sold out, but I think a 10% penalty is workable to get future gains.

In other news:

Michael Kors is a Top Pick into earnings, says Morgan Stanley

Morgan Stanley expects Michael Kors Q1 report on August 6 to drive shares higher. The firm expects 48c earnings and 20% same-store-sales growth indicated by strong sell through, strong wholesale channel sales, beatable margin expectations, and increasing Google searches for products. The firm believes Michael Kors offers the best long-term earnings potential and reiterates its Overweight rating and $74 price target. :theflyonthewall.com

Stocktrader

Stocks100 said...

Hi Stocktrader,

I agree on your approach with SODA...

KORS TAPE is strong & has broken out...its @ new all time high....

Saleem

stocktrader_1996 said...

Hey Saleem,

Bought it @ 65.03. Tough price but already chased it up $1 before catching.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good luck with SODA.....

Saleem

stocktrader_1996 said...

Hey Saleem,

I wish I could sell HLF on this pop--I think I made a mistake in my entry timing. Unfortunately, I still have to wait two more days as I only raised the funds for the purchase yesterday and bought the same day.

Stocktrader

Stocks100 said...

Hi Stocktrader,

I do not think you made a mistake in HLF..you will do well IF you keep it..you are almost @ your buy price...

Saleem

stocktrader_1996 said...

Hey Saleem,

Um...nevermind :)

George Soros took a large long stake in HLF.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Never bet against Herb Greenberg lol

Saleem

stocktrader_1996 said...

Hey Saleem,

Haha, good one!

Turns out the Soros stake might be old news. Who knows where this is headed short term! I am excited for Friday when I can actually make a sell decision on this one if I want.

Stocktrader

Stocks100 said...

Hi Stocktrader,

New highs gets series of new highs...no matter what you do..result will be $$$$$$

Saleem

stocktrader_1996 said...

Hey Saleem,

Believe it or not, I'm becoming tempted to sell M in favor of JCP! Recent web traffic shows JCP was second only to WMT in back-to-school searches.

Stocktrader

Stocks100 said...

Hi Stocktrader,

There is "way more upside in JCP than any retailer"

Saleem