Indices closed near high of the day.
S&P 500 @ 1752.07, high 1753.94
RSI @ 65.79
Internals were :
UP volume led by 1.39 to 1 in NYSE & 1.20 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk highs were leading by 200 in NYSE & 214 in Nasdaq
VIX Down 1.64% @ 13.20
Oil @ $97.11
Gold @ $1350.30
Stocks which were UP 1% or more included AMZN JKS MU
FB BIDU SINA QIHU YY PCLN LNKD AAPL TSLA
LEN EXPE EBAY YUM LVS COH MA V FSLR
WPRT CRUS LRCX SNDK NTES PANW
M SPLK X EGO SLW GG AEM CSOD
MS WLT TRLA Z WYNN GS YELP.....
In my Portfolio :
Bought AMZN 5 mts before close @ $331.25...I had a price of $327 whole day but no luck, had to buy much higher before close.
Portfolio AMZN CIEN FNSR GMCR JKS MU
AH ER : WYNN Down 1.09%, MSFT UP 5.31%,
AMZN UP 8.26%
AMZN was a beat on Sales & EPS....Sales actual $17.09 Billion expected $16.7 Billion,
EPS loss of 9 cents vs expected loss of 11 cents
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was strong but internals were so so. Leaders came to life but most stocks were struggling. Semis are having tough time in this market to increase Sales. Earnings needs to be anticipated in terms of trend & growth rate. Some leaders are being squeezed by smaller rivals thus Sales & margin pressure. Asian markets are worrying about Chinese monetary policy thus no gains despite US positive close.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
You can see the economic pause starting to be priced in. Many cyclical growth stocks are red today (and other days recently also) in spite of the positive averages.
Nice snag on AMZN too! :)
Stocktrader
Hi Stocktrader,
Thanks for AMZN remark.....it is saving my day as everything else is dying on me.....
We can all thank US politicians for destroying a good thing....they will never learn......it is affecting many sectors as you pointed out.
Saleem
Hi Stocktrader,
Sold CIEN @ $24.18
Sold GMCR @ $61.16
Saleem
Hey Saleem,
It always feels good to do some rotation and get some fresh stocks. That's why I always search around--it keeps me active and interested.
I don't know what to do with YY. I am very tempted to buy here. If I don't, I want to allocate that position size I freed up. FB is a candidate if not YY, and even YHOO looks more attractive here.
Stocktrader
Hi Stocktrader,
Bought LNKD @ $241.28...another earnings play......hopefully i will be as lucky as AMZN....
Saleem
Hi Stocktrader,
May i suggest QIHU instead of YY...
Saleem
Hey Saleem,
Good luck with LNKD. I think this quarter might be a challenge for them, but people will always buy the dip as long as they are the primary business-oriented social site.
I think the SODA chart is setting up nicely, and I'm sticking with my two software plays of RALY and CSOD even though it's been a bit challenging recently with price action.
Stocktrader
Hey Saleem,
I prefer the competitive landscape surrounding YY better, although admittedly, I'm not an expert in Chinese internets due to neglecting the sector for a long while. (I actually owned QIHU for some time right after it IPO'd but sold after a round of Chinese scam scares).
Stocktrader
Hey Saleem,
I tried to listen to the CLF conference call this morning, but their link wasn't working for me. I'll have to try again over the weekend and get the replay.
Stocktrader
Hi Stocktrader,
What a move in CLF......
Saleem
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