Indices finally closed green after five days of selling.
S&P 500 @ 1698.67, low 1693.11 made a higher low from yesterday of 1691.88.
RSI @ 56.71
CMF @ 0.045
Internals were :
UP volume led by 1.47 to 1 in NYSE & 1.84 to 1 in Nasdaq
Advancing stocks led by 1.73 to 1 in NYSE & 1.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 90 in NYSE & 107 in Nasdaq
VIX @ 14.25
Oil @ $103.03
Gold @ $1324.10
Stocks which were UP 1% or more included JKS
YY TSLA QIHU TCK M NFLX LNKD FB
KOG MU RDN YHOO TXTR DNKN
CMG AMZN HMC EBAY YUM
LVS WYNN BIDU PCLN V
GRPN KORS SPLK
SINA
AH Futures UP
AH Asian Market Mixed
AH Oil Down
AH Gold UP
About market, TAPE finally made it in the green @ close. Many stocks continue to make all time highs. This TAPE has rewarded strong stocks with institutional backing. Market has given higher & higher multiples to winners. Keep that strategy when looking @ next buys.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hey Saleem,
A couple of stocks I regret selling: CLDX and KOG. It is symptomatic of the market though--some stocks just keep climbing higher as there are seemingly few sellers and any incremental buying just drives them up.
In this light, I wonder if I should rebuy SPLK. The story is amazing and the chart looks like it could be setting up for a breakout. It is expensive, but stories seem to trump valuation right now (for somewhat good reasons if people are looking past the short term). Any thoughts on SPLK?
Stocktrader
Hey Saleem,
I decided to go for it: bought SPLK @ 61.98. I can always sell it, right? :)
Stocktrader
Hey Saleem,
I did sell SPLK last Friday @ 62.95. Not that it should matter, but it feels a little better that I could actually buy one back lower instead of the rocket ships like CLDX.
Stocktrader
Hi Stocktrader,
Sorry i was out for an hour.
YES..you are doing what i said in closing BLOG..go for strong ones...
Good luck with SPLK.....it does looks good after basing....
Saleem
Hi Stocktrader,
I bought MU @ $17.81 & Sold CLF @ $20.94...trying to reposition my portfolio.
May do one more swap today.
Saleem
Hey Saleem,
Good luck with MU! I like swaps to keep the portfolio fresh.
Stocktrader
Hey Saleem,
Last night I was thinking about which stocks I could buy instead of having the TNA, which is somewhat out of character for me (I'm a stock picker at heart!). I think I've almost convinced myself to add to CSOD and/or RALY, even with their large weightings already. I think they are still relatively undiscovered and undervalued (104k and 16k shares traded respectively today).
Stocktrader
Hi Stocktrader,
Sold ANR @ $6.09 & averaged down in JCP @ $9.28......
Saleem
Hi Stocktrader,
I almost bought RALY today.....but left it for another day....i like its chart.
Saleem
Hey Saleem,
I swapped a little TNA @ 62.62 for RALY @ 30.71.
Stocktrader
Hi Stocktrader,
Sold BAC @ $13.91 & bought KOG @ $11.96.....
Saleem
Hey Saleem,
Lots of repositioning today--good luck! :)
Stocktrader
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