Indices closed green after some hesitation.
S&P 500 @ 1767.93, high 1768.78
RSI @ 65.89
CMF @ 0.350
Internals were :
UP volume led by 2.83 to 1 in NYSE & 1.61 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 1.93 to 1 in Nasdaq
Net new 52 wk highs were leading by 133 in NYSE & 74 in Nasdaq
VIX Down 2.64% @ 12.93
Oil @ $94.62
Gold @ $1314.70
Stocks which closed UP 1% or more included JKS LNKD MU
TSLA QIHU YELP AAPL YY PCLN LULU NFLX CF
GMCR CSIQ SPWR FSLR CMG COH GRPN
RVBD SNDK TCK PANW M X STLD GG
AEM LCC CSOD WLT Z AGU MLNX
YUM...
AH ER CSOD UP 4.53%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was much better today although indices were UP slightly, internals were strong. Many sectors participated today which is healthy. There is a fear from technical point of view that there is a strong resistance around 1780 to 1785 area, please factor this in trading strategy.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
I posted a CSOD conference call summary on your afternoon post (was in the middle of typing it out when your evening recap came).
KORS before the bell tomorrow for me. Frankly, I'm not sure what Q3 looked like due to the weakness in many consumer spending areas, but I still like the name going forward. It certainly seems like with gasoline prices down and sentiment up, it could really be a great Christmas for shopping! :)
Stocktrader
Hi Stocktrader,
Thanks for posting CSOD recap..i will read your review.
KORS Q4 should be very good...i may position for that as my next trade.
Good luck with AM report on KORS...
Saleem
Hey Saleem,
Nice report by KORS in a weak apparel environment (although, of course, they have lots of accessories too which helped).
Unfortunately, I'll miss a good chunk of this conference call (listening already) dropping off the kids.
At least it's not a "concern" situation, so a replay later should suffice for whatever I miss.
Stocktrader
Hey Saleem,
Despite CSOD's nice earnings and outlook, you can tell institutions are still skeptical that CSOD can actually make this work longer term. Many of the analysts' questions last night start with "I get a lot of questions on...", meaning they are fielding many questions from clients about CSOD's competitive position and ultimate place in the HR space.
I'm not sure CSOD can answer this skepticism except through continued execution, but may depress valuation until institutions are more confident. Additionally, I am interested to see if short interest grows over time.
Ultimately, skepticism is good, but I'll be watching carefully, and it makes it tempting to take the profits and run. The only way I'd really get concerned though is if the stock breaks under $45.
Stocktrader
Hi Stocktrader,
KORS had a beat on both Sales & EPS...
They are guiding higher sales & UPOD on EPS by being below 1 cents...guiding 84 vs expected 85 cents.....
KORS is a good hold.
Saleem
Hi Stocktrader,
CSOD is UP nicely by 7.08%.....
Saleem
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