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
9 comments:
Hey Saleem,
I have my order in to buy YHOO at open. I was looking more at how the Alibaba stake affects the valuation, and you're getting YHOO ex-Alibaba extremely cheaply. I wish I would have done a little more of this work earlier and saved $2, but I think it could work up to $35-$40 with just the hope of core YHOO transformation.
Stocktrader
Hi Stocktrader,
YES..YHOO is a high $30 stock by end of Q3.....
Good luck with YHOO.
Saleem
Hey Saleem,
I got 29.50.
Stocktrader
Hey Saleem,
Bought BTU @ 16.44 with my last cash. With natural gas prices holding up, coal is looking more attractive. Additionally, the capex and operational cuts give these companies more earnings power and less worry about supply.
Stocktrader
Hi Stocktrader,
What is your take on CLF earning report on Monday......
Good luck with BTU.....
Saleem
Hey Saleem,
I believe they don't report until Thursday night, but operational discipline should be good with pricing soft. Iron ore prices are up nearly 25% in the last month, so the 2nd quarter reported could be the trough in earnings.
I'm looking for a strong positive reaction as long as they have costs and opex under control, which I expect.
Stocktrader
Hi Stocktrader,
Thanks for your analysis & confirming ER date.
Saleem
Hey Saleem,
This commodity trade is really testing my patience, but I wonder if we'll see a little rotation out of tech into materials?
I don't have good familiarity with many industrial stocks which seem to be doing well also. I have much homework to do.
I've been watching some home building/remodeling stocks and liked CSTE one of the most. I think I waited too long...up 10% today.
Stocktrader
Hi Stocktrader,
I am sure rotation out of tech will take hold after ER......
Gold is performing already......
Your CSTE is UP only 5% NOW.....
Saleem
Post a Comment