Indices ignored below expectations data on Retail & Consumer sentiment & closed UP.
S&P 500 @ 1687.99, high 1688.73
RSI @ 60.79
CMF @ 0.051..green after four weeks???
Internals were :
UP volume led by 1.71 to 1 in NYSE & 1.50 to 1 in Nasdaq
Advancing stocks led by 1.62 to 1 in NYSE & 1.52 to 1 in Nasdaq
Net new 52 wk highs were leading by 30 in NYSE & 69 in Nasdaq
VIX Down .91% @ 14.16
Oil @ $108.21
Gold @ $1308.60
Canadian $ @ 96.59
Stocks which were UP 1% or more included AMCC AUY
LULU JKS TSL AGU POT M NFLX RDN DNKN
CSIQ LVS FFIV COH V CRUS SNDK CIEN
RALY EGO SLW GG AEM SPWR MGA
TRLA.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hey Saleem,
In a week that surprised many people with its strength, the portfolio gained 4.19% versus the S&P's +1.98%.
Big winners: RALY (+16.3%) MU (+9.9% including a nice sell/buyback) SODA (+7.9% from purchase) LCC (+6.4%) FCX (+6.0%) TRLA (+6.0% upon sale) SPLK (+5.7%) X (+5.3%) MS (+4.9%)
Only losers: KORS (-2.2%) TXTR (-0.9% from purchase)
YTD Info:
Portfolio: +52.42%
S&P 500: +18.36%
I made a few changes to the portfolio this week selling off old ideas for some new ones. This included selling PSUN, RDN, HLF, and TRLA, and buying SODA and TXTR while also adding to SODA, MS, RALY, and LCC. I still have one cash position available. Here's the portfolio now:
Top Tier: FB CSOD KORS
Middle Tier: LCC RALY MS
Risk Tier: FCX CLDX SPLK SODA X YHOO TXTR MU LRCX
Cash: 4.4%
There's really not much different to say about this week versus the last one. Sentiment still remains skeptical and many of the "Fast Money" traders are in the most cash they've been in all year, as well as survey sentiment indicators still showing low levels of outright bullishness. Many of the high quality growth stocks continue to grind higher. Economic data, whether good or bad, remains friendly to the market in reaction. All three of these represent the solid legs of the market stool which should help it move higher.
The Fed meets this week, but the outcome is completely priced in unless they do something dramatic. A $10-$15B reduction in bond purchases should fit perfectly with everyone's scenario. $20B would be a bit hawkish but likely digestible. Investors may raise cash ahead of the event "just in case", so I believe we'll see the market relief rally on the decision.
I will continue to trim around the edges of the portfolio, shuffling out old and looking for new opportunities. There is headline risk with Syria, the debt debate, and the Fed, but overall the bullish backdrop should remain as investors reluctantly deploy their sitting cash.
Stocktrader
Hi Stocktrader,
Another week of "major outperformance by your portfolio"......
You have done an outstanding job of great stock selection & switching in a timely manner......
Nothing is easy but your hardwork is the key behind your success in 2013......
Saleem
Hey Saleem,
Thank you for the kind words. I am constantly trying to improve my methods and stay within reasonable risk parameters. This year has been good so far--hopefully I can close on a strong note.
Stocktrader
Post a Comment