Thursday, September 26, 2013

Indices closed UP .35% to .70%....NICE !!!!

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

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12 comments:

  1. stocktrader_1996September 27, 2013 at 8:38 AM

    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

    ReplyDelete
  2. stocktrader_1996September 27, 2013 at 8:59 AM

    Hey Saleem,

    I decided to go for it: bought SPLK @ 61.98. I can always sell it, right? :)

    Stocktrader

    ReplyDelete
  3. stocktrader_1996September 27, 2013 at 9:00 AM

    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

    ReplyDelete
  4. Stocks100September 27, 2013 at 9:42 AM

    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

    ReplyDelete
  5. Stocks100September 27, 2013 at 10:27 AM

    Hi Stocktrader,

    I bought MU @ $17.81 & Sold CLF @ $20.94...trying to reposition my portfolio.

    May do one more swap today.

    Saleem

    ReplyDelete
  6. stocktrader_1996September 27, 2013 at 10:33 AM

    Hey Saleem,

    Good luck with MU! I like swaps to keep the portfolio fresh.

    Stocktrader

    ReplyDelete
  7. stocktrader_1996September 27, 2013 at 10:37 AM

    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

    ReplyDelete
  8. Stocks100September 27, 2013 at 10:45 AM

    Hi Stocktrader,

    Sold ANR @ $6.09 & averaged down in JCP @ $9.28......

    Saleem

    ReplyDelete
  9. Stocks100September 27, 2013 at 10:46 AM

    Hi Stocktrader,

    I almost bought RALY today.....but left it for another day....i like its chart.

    Saleem

    ReplyDelete
  10. stocktrader_1996September 27, 2013 at 11:45 AM

    Hey Saleem,

    I swapped a little TNA @ 62.62 for RALY @ 30.71.

    Stocktrader

    ReplyDelete
  11. Stocks100September 27, 2013 at 12:06 PM

    Hi Stocktrader,

    Sold BAC @ $13.91 & bought KOG @ $11.96.....

    Saleem

    ReplyDelete
  12. stocktrader_1996September 27, 2013 at 1:03 PM

    Hey Saleem,

    Lots of repositioning today--good luck! :)

    Stocktrader

    ReplyDelete