Indices closed UP again.
S&P 500 @ 1640.46, high 1644.68
RSI @ 56.85
CMF @ -0.062
Internals were :
UP volume led by 2.12 to 1 in NYSE & 1.19 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & 1.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 229 in NYSE & 345 in Nasdaq
VIX Down .74% @ 14.78
Oil @ $103.14
Gold @ $1234.90
Stocks which were UP 1% or more included X WLT CLF
RDN KORS M GMCR LULU LNKD NFLX TSLA
PANW WPRT FB C MS MOS AGU CSIQ
AEM SINA Z.....
AH ER AA Down .25%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE continues its uptrend.Rotation in some commodity stocks are taking place. Bond money allocation to equities may be in play here & giving support. i expect TAPE to head towards new highs. IBD still not acknowledging technical improvement which has taken place since correction?
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Sold a bit of my overweight WLT @ 11.367 to add to TXTR @ 27.495. They both have ~150% normal weighting now.
Stocktrader
Hi Stocktrader,
Good move in rebalancing.....
Saleem
Hey Saleem,
I really like KORS here too (and have for weeks). If I get a chance to take some CLDX or something else off, I'll probably add to KORS. I think it's the next long term aspirational middle-class brand in the US, similar to what COH was for many years but with a more diverse product line.
Stocktrader
Hi Stocktrader,
KORS have managed to maintained above average Sales growth...thus deserving a high multiple.
Saleem
Hey Saleem,
Did that minor adjustment I spoke about: sold some CLDX @ 19.852 to add to KORS @ 65.025. This brings CLDX back down to a normal position size after its huge run and puts KORS to around 140% normal (lines getting blurred on my "normal" position size with the portfolio growing in absolute size).
Stocktrader
Hi Stocktrader,
It was a logical adjustment based on how you are feeling about KORS.
Saleem
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