Indices closed near highs of the day again.
S&P 500 @ 1683.99, high 1684.09
RSI @ 60.47
CMF @ -0.058
Internals were :
UP volume led by 2.82 to 1 in NYSE & 2.30 to 1 in Nasdaq
Advancing stocks led by 1.97 to 1 in both NYSE & Nasdaq
Net new 52 wk highs were leading by 171 in NYSE & 183 in Nasdaq
VIX Down 7.04% @ 14.53
Oil @ $107.39
Gold @ $1364.00
Stocks which were UP 1% or more included ANR CLF FNSR
MU AMCC NTES TSLA QIHU SPWR AGU POT KOG
NFLX LNKD SINA RDN DNKN EXPE CMG EBAY
LVS WYNN BIDU FFIV PCLN MA V RVBD X
STLD LRCX SNDK CIEN JDSU C MS Z GS
YELP NVDA SBUX .....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Based on RSI easy money has been made in this run, expect consolidation of gains & pullbacks. Strongly suggest booking gains, as we have moved UP 3.48% in eight trading days.
BLOG does NOT give buy or sell.
Saleem
14 comments:
Hey Saleem,
Took profits in MU @ 16.28.
Stocktrader
Hey Saleem,
Sold TRLA @ 45.76 to take profits. Also worried about competitive aspects and housing weakness.
Stocktrader
Hi Stocktrader,
Good moves in booking profit.
Sold ANR @ $6.79
Saleem
Hi Stocktrader,
Bought AMCC @ $12.90...
Saleem
Hey Saleem,
Good luck with the new picks. I definitely messed up the TRLA sell. That stock is really crazy--huge intraday moves often.
Stocktrader
Hi Stocktrader,
Z TRLA YELP ..are extremely volatile...
You can always buy it back....
Saleem
Hey Saleem,
Added to current positions:
LCC @ 17.52
MS @ 28.04
RALY @ 29.067
SODA @ 64.93
I have one cash position available now.
Stocktrader
Hi Stocktrader,
Did you notice that DAL has gone crazy???
Saleem
Hey Saleem,
Yes. It got added to the S&P 500 yesterday so there were tremendous flows in recent days. I think today's performance is fantastic given the usual addition "hangover".
Stocktrader
Hey Saleem,
I'm really tempted by WLK today, but I feel like patience will present a different or better opportunity in coming days.
Stocktrader
Hi Stocktrader,
WLK down sharply on heavy volume?
Saleem
Hey Saleem,
Yes, it got downgraded today along with AXLL:
JPMorgan downgraded Westlake Chemical to Neutral from Overweight citing valuation and unfavorable commodity trends. The firm keeps a $114 price target for shares.
I'm not that tempted--just seems like a good short term buy on the 50 DMA test and hold.
Stocktrader
Hey Saleem,
Sold HLF @ 66.06. I'm tired of watching it bounce around based on who is buying or selling. Also, if it does turn out some of the accounting concerns are legitimate, it could drop 40% in a blink whereas I'm not sure how much short term upside is left based on valuation.
I need to take this ticker of my screen. I keep buying for a trade trying to convince myself it's an investment, and that never sticks. I'm glad to make the money I did here, and am similarly glad to be out of it.
Stocktrader
Hi Stocktrader,
HLF is volatile..but it can be traded.....
Saleem
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