Indices are ignoring weak Chinese Data & going with good US number, good news is good news.
S&P 500 @ 1620.35, high today 1626.61, 50 DMA 1623.02
Internals are positive by almost 3 to 1
Oil UP $1.57
Gold UP $32.60
Canadian $ UP 9 tick @ 95.23
VIX Down 3.91% @ 16.20
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 1.54 following are red :
BBRY LEN JCP TIF POT CMG BIDU COH
FB MU BRCM AMCC MOS MON SINA
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteSold TXTR @ 26.401 in a profit taking move after a huge run.
Bought TRLA @ 31.825 because the chart looks good for a breakout and mobile penetration in the real estate market is great.
I am evaluating whether to sell SPLK, RALY, PFPT, and BBBY also. I am looking to possibly buy SWC and/or STLD.
Stocktrader
Hey Saleem,
ReplyDeleteSold BBBY @ 71.96 on a belief that they are in a stable period having to digest their recent acquisition based on my interpretation of the conference call comments.
Sold SPLK @ 47.57 on valuation (currently trading @ 18x 2013 revs--very high/highest for the group) and the potential for increased competition leading to delays and/or lost opportunity.
Stocktrader
Hey Saleem,
ReplyDeleteSold PFPT @ 24.254. I think I got caught up in a sudden intraday downdraft, but the overextended chart and competitive concerns made me sell anyways.
Stocktrader
Hi Stocktrader,
ReplyDeleteTRLA above 50 DMA looks very good.
Saleem
Hi Stocktrader,
ReplyDeleteGood move in locking gains.
July 4th looking that much better....more gains$$$$ more relaxation.....
Saleem
Hey Saleem,
ReplyDeleteYes, it will make the week a little easier with less exposure.
Sold RALY @ 24.836. I'm just not trusting the small cap software sector right now due to seasonality and increased competition from the "big boys", although I'd buy back almost any of those I sold if they dropped 10% from here.
Stocktrader
Hi Stocktrader,
ReplyDeleteWe may have reached the high end of this trading range.
Less exposure means more opportunities in future.
Saleem
Hey Saleem,
ReplyDeleteI should mention I'm keeping the biotech-related software names, MODN and MDSO based on good buzz around biotech right now (besides good fundamentals).
I'm still looking at potential SWC/STLD buys before close, but I also like the idea of having some cash available for earnings season. I always find the Q2 reporting season to be volatile given the low liquidity in July. Maybe there'll be some great deals to snag.
Stocktrader
Hi Stocktrader,
ReplyDeleteYES..Q2 is earning trough.....Q3 is improvement & Q4 is jackpot in earnings.
Good luck with Biotech & new buys.
Saleem
Hey Saleem,
ReplyDeleteBought SWC @ 10.87--couldn't resist. I think palladium and platinum could see good demand going forward from spending on cars and jewelry and supply is still constrained.
Stocktrader
Hey Saleem,
ReplyDeleteOne thing on SWC, they probably need to write down the South American assets but I think that would be a temporary setback and is widely known anyways right now.
Stocktrader
Hi Stocktrader,
ReplyDeleteSWC has tested support in $10 area & held nicely......
Good luck with SWC.
Saleem