Indices were mixed @ close.
S&P 500 @ 1762.11, all time high 1764.99
RSI @ 68.20
CMF @ 0.395
Internals were :
Down volume led by 1.22 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by 1.21 to 1 in NYSE & 1.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 168 in NYSE & 144 in Nasdaq
VIX UP 1.68% @ 13.31
Oil @ $98.68
Gold @ $1352.20
AH ER : RVBD Down .03%, AAPL Down 1.23%, X Down 4.14%
HLF UP 1.73%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was mixed with Nasdaq & Dow closing slightly down while S&P 500 making new all time highs. Internals were weak. Earnings are not affecting overall TAPE as better earnings are being rewarded. This TAPE is a stock picker challenge where some earnings are rewarded while others are taken apart for weakness. Chinese stocks are under severe selling pressure based on emotions not on fundamentals, hopefully this phase has run its course.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hey Saleem,
Put in an order to sell while I was gone this morning for X and it sold at 23.00. I now see it's up on the day, so I'm a bit sad about that...
I want to hear the conference call before I stay committed because there were quite a few surprises in the report.
Stocktrader
Hey Saleem,
I'm going to wait and see how the market reacts to BIDU, LNKD, and YELP tonight, and then try to get some YY tomorrow morning. Hopefully it doesn't act too well before then...
Stocktrader
Hi Stocktrader,
Good luck with your YY strategy.
Saleem
Hey Saleem,
Argh. I almost bought some around $44 when it hung around there for 40 minutes earlier today, but got caught up in some phone calls and tasks and couldn't sit and think about it. I'm not sure what to do now--the risk/reward shifted so quickly, but it is clear has great support even in the face of NQ's debacle.
Stocktrader
Hi Stocktrader,
Currently YY is @ attractive price.
Saleem
Hey Saleem,
Stepped back into FB @ 49.79. Given their basically unstoppable market position, I think it's a "must own" name for the next five years as they innovate to monetize, and it still very cheap compared to other growth leaders like LNKD or NFLX.
While I was typing this up, my YY buy offer at 46.58 filled, so I'm back in there. I know there could be downside still, but I needed to establish some kind of position again given my positive outlook on the name and resilience despite some worries in the sector.
This leaves me with no ability to buy back X should that conference call go well. If necessary, I will trim AAPL to buy some X.
Stocktrader
Hi Stocktrader,
Good luck with FB & YY.....
X is unchanged which is a good thing.
Saleem
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