Indices had another new high @ close.
S&P 500 @ 1790.62, high 1791.53
RSI @ 66.23
CMF @ 0.337
Internals were :
UP volume led by 2.67 to 1 in NYSE & .98 to 1 in Nasdaq
Advancing stocks led by 1.95 to 1 in NYSE & .92 to 1 in Nasdaq
Net new 52 wk highs were leading by 228 in NYSE & 121 in Nasdaq
VIX Down 1.20% @ 12.37
Oil @ $93.76
Gold @ $1286.30
Stocks which were UP 1% or more included MU
BIDU PCLN NFLX AMZN YNDX GRPN
YHOO LEN CMG MA LCC PANW
GG SLW AEM SPLK SPWR....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, despite CSCO horrible guidance even Nasdaq closed green & made a new 13 year high, this speaks about the strength of this bull market which is extremely rare. This TAPE has ignored just about everything which could trigger a sell off. We are all set to close on a strong note on Friday, option expiry is going to trigger more buying & force shorts to reconsider their negativity or thesis. As i have said repeatedly, any weakness in strong stocks was / is a buying opportunity.
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hey Saleem,
Sold SODA @ 55.611. Even though I am optimstic for next earnings, the stock has serious technical damage to work against in combination with the year-end effect that might cause portfolio managers to sell/avoid the stock.
Bought TXTR @ 32.543. I'm re-entering this name after a long break, and get to buy it cheaper as well. Yesterday they announced the acquisition of a mobile play in their space and I think this adds to their growing suite of products. I'm not positive how their quarter will look exactly, but the long term trend is highly favorable.
Stocktrader
Hi Stocktrader,
TXTR has been in a downtrend since their secondary...hopefully it has found support....
Good move in selling SODA.
Saleem
Hey Saleem,
Sold KRE @ 38.20.
Bought RALY @ 25.659.
RALY didn't preannounce when they gave their earnings date yesterday (not unexpected, but nice to confirm) and I think the market is warming back up to these long term stories after ignoring them for quite a while.
Stocktrader
Hi Stocktrader,
TXTR is flying..perfect timing...
Good luck with RALY....
Saleem
Hey Saleem,
Thanks. Now the only question is when/if to get back into CSOD. I probably have time to wait for better technicals there.
The ZU IPO is interesting. I might try to pick it up if it gets a little lower. I have a small speculative position size available.
Stocktrader
Hey Saleem,
Bought ZU @ 38.57.
Stocktrader
Hi Stocktrader,
Good luck with newest IPO ZU....
Saleem
Hi Stocktrader,
Sold MU @$19.58
Added 60% FNSR @ $21.85
Saleem
Hey Saleem,
Great trade on MU! FNSR is a tricky one, but at least it has factored in a lot of the CSCO mess.
Sold CSIQ @ 31.742. It seems these solar stocks are getting tired after an extreme run recently.
Stocktrader
Hi Stocktrader,
Booking profit in CSIQ was good$$$$
YES....FNSR should have discounted most of CSCO impact by now.....
Saleem
Hi Stocktrader,
Sold JKS @ $29.36......
They report before open on Monday...
Saleem
Hey Saleem,
Wow, nice call! Huge profits and not risking the event!
Sold WUBA @ 34.35 and YY @ 53.75. It just feels like this group is overheated and vulnerable to headline risk. I'm not sure what to think, so I'm just selling at a high for now.
Stocktrader
Hi Stocktrader,
Good move in booking profit.
I am back @ 100% exposure based on Risk / reward picture...had exceeded 200% exposure with SINA...
Saleem
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