There has been no progress in resolving shutdown or debt ceiling.
Six days of rhetoric is all we have.......
Market may not look kindly after six days......
TAPE has tremendous strength but Washington is getting in its way & may cause weak open on Monday again......
We need to focus on what stocks to buy in case of weakness.....
That is all we can do while politicians are engaged in slugfest...
Dow remains below 50 DMA......
S&P 500 is 10 points above 50 DMA...not enough cushion in a weak TAPE.
Investors sentiment is "highly bullish" with bulls @ 46.4% & bears @ 18.6%......
Many strong stocks are @ attractive buy RSI as listed below :
AMCC 57.47 TSLA 56.89 TRLA 52.03 Z 39.70 AAPL 51.49
GOOG 43.62 LNKD 50.74 CLDX 59.31 YY 59.39
NTES 52.10 QIHU 56.18 CSOD 44.87
For traders & investors it is a very good time to do homework & position for a very strong Q4 rally which may last until January.......
BUT..we may get serious setback in TAPE IF politicians do not smarten up very quickly.
It may get very dicey......
Try to be patient while we wait for a resolution.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hey Saleem,
A report late Friday indicated the Alibaba IPO was likely pushed into next year, and it suggested this could weigh on YHOO stock. I don't know, my initial impression was that the longer YHOO got to hold the underlying Alibaba, the more it was likely to be worth. So, I think any weakness related to that story would be a longer term buying opportunity. Also, based on personal experience and some tracking sites & analyst notes, I think the YHOO traffic numbers, both mobile and overall, could look really good this quarter.
I'm slightly uncomfortable with the position because it has run so much, but if you step back, it still looks like a worthy investment, both from an organic level and Alibaba's additive value.
Stocktrader
Hi Stocktrader,
Any pullback..i want to enter YHOO..based on its improving fundamental from Q3.....
I may do a swap with YHOO very quickly.
Saleem
Hey Saleem,
I also think the secondary from DRYS provides an attractive entry point with the $BDI holding up surprisingly well.
Stocktrader
Hey Saleem,
Bought DRYS @ 3.537.
Stocktrader
Hey Saleem,
Sold SPLK @ 62.42. There was a two-notch analyst downgrade to underperform today on valuation, and you know my fears on SPLK's valuation, so it kind of fit to raise cash here from SPLK.
Stocktrader
Hi Stocktrader,
YES..SPLK valuation was high.....
Good move on DRYS.....
Saleem
Hi Stocktrader,
Sold TSLA @ $184.95
Bought YY @ $48.65
Saleem
Hey Saleem,
Fantastic trade on TSLA!
Good luck with YY. I hear that mentioned a lot but have never researched it myself.
Look at X go...so much for congestion up here. I have WLT and X next to each other on my board and they really stand out today.
Stocktrader
Hi Stocktrader,
YY has a popular social platform where it conducts many activities including gaming....
YY is growing its Sales & EPS in excess of 55% Y/Y......FY Dec 14 earnings of $1.77
YES X & WLT is behaving much better than ANR & CLF
Saleem
Hi Stocktrader,
Sold MU @ $18.75
Bought YHOO @ $34.26
Saleem
Hey Saleem,
You did very well on MU also--I sold too early! (although I got two good trades from it)
Good luck with YHOO. I think a lot of potential investors still look at it with a skeptical eye, especially at these levels, but I think that's a positive sign considering the double catalyst long thesis I put forth above.
Stocktrader
Hi Stocktrader,
Having a good handle on relative RSI..i was able to trade MU several times.....
YHOO is giving me a very good feeling on Q3 results.....
Saleem
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