TAPE had to deal with many things from lower than expected jobs report to major downward revision to previous two months. Putin is squarely in the opposite Syrian camp. So we had DOWN UP & ended mostly FLAT.....
S&P 500 @ 1655.17, high 1664.83, 50 DMA @ 1665.51
RSI @ 48.52
CMF @ -0.156
Internals were :
UP volume led by 1.54 to 1 in NYSE & 1.20 to 1 in Nasdaq
Advancing stocks led by 1.36 to 1 in NYSE & .93 to 1 in Nasdaq
Net new 52 wk highs were leading by 68 in NYSE & 82 in Nasdaq
VIX UP .51% @ 15.85
Oil @ $110.53
Gold @ $1386.50
Canadian $ @ $106.10...Canadian Jobs report was way above consensus of 20 K, came in @ 59.2K...
Stocks which were UP 2% or more included KOG AUY
CIEN FNSR JDSU LEN FB EXPE BIDU IBN
YELP RALY.....
Portfolio weighting :
AUY 22.92%
CLF 17.16%
KOG 15.97%
ANR 15.62%
MU 14.23%
BAC 14.10%
Exposure 167%
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
A strong, steady week saw the portfolio gain each day and end up +4.14% versus the S&P's +1.36%.
Big winners: FB (+6.4%) MU (+12.5%) CLDX (+9.5%) X (+5.4%) LRCX (+5.3%)
Only losers: RDN (-1.0% from purchase) PSUN (-0.9%)
YTD Info:
Portfolio: +46.29%
S&P 500: +16.06%
The only changes I made to the portfolio this week were adding a few financials (MS, RDN) on Wednesday. Here's the portfolio now:
Big 3: FB (13.4%) CSOD (11.3%) KORS (8.7%)
Rest (5.4->3.7%): CLDX MU FCX SPLK YHOO LRCX LCC RDN X TRLA HLF RALY MS PSUN
As you can see, the portfolio is more diverse than it's been in a while with representation from many sectors. I think many good stocks can outperform here, and I think many sectors can participate, so I don't feel the need to be concentrated towards any particular ones.
The earnings report and guidance from RALY this week looked good and I like their story and valuation still.
Not much has changed on my market outlook this week. Market sentiment remains highly skeptical, growth stocks continue to perform well, and the economic data is relatively good with even poor data not affecting the market. As long as these conditions remain, I don't expect to change my short-medium term bullish call. On any particular day, Syria can affect things, but I think these are just short-term gyrations with no need to adjust a portfolio based upon them.
My main moves in coming weeks will likely be just pruning the weakest performers in lieu of new ideas.
I hope health and family is well! :)
Stocktrader
Hi Stocktrader,
After 8 months you are UP 46.29%....the-best performance by anyone i know.....you have 4 more months to go.....IF your trend holds..you may be looking @ close to 70% minimum......All due to your knack of picking many good ideas....
Everything is fine on homefront !!!
Saleem
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