Indices closed UP on renewed buying.
S&P 500 @ 1795.85, high 1797.16
RSI @ 64.04
CMF @ 0.268
Internals were :
UP volume led by 2.96 to 1 in NYSE & 5.79 to 1 in Nasdaq
Advancing stocks led by 2.96 to 1 in NYSE & 3.20 to 1 in Nasdaq
Net new 52 wk highs were leading by 83 in NYSE & 149 in Nasdaq
VIX Down 5.52% @ 12.66
Oil @ $95.44
Gold @ $1243.60
Stocks which were UP 2% or more included TSL ARUN
MU EXPE NFLX LUV MS YELP JKS PANW
LNKD TWTR GMCR YUM YNDX
GRPN LRCX AMCC JDSU Z
SBUX SPWR CSOD TRLA
WYNN RALY MLNX....
AH ER :
GPS Down 1.10%, MRVL UP 6.22%, SPLK UP 10.18%,
ARUN 10.47%
ARUN ER was a beat on Slaes @ $160.9 Million vs $157.58 Million
EPS was a beat @ 16 cents vs expected 14 cents
Guidance was higher @ $165 to $169 Million vs $166.05 Million
Conference call was upbeat & very optimistic about second half.
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE clearly defied "common logic " by going UP after yesterday's negative reaction to nothing new from Fed. It IS important to have your own views on Fed or TAPE which IS constantly evolving every 48 hours for traders. For investors this market is a dream come true which IS steady as she goes. We are all set to take out all time intraday highs while closing highs have been taken out already.
BLOG does NOT give buy or sell
Saleem
9 comments:
Hey Saleem,
I read through the transcript of TXTR's conference call this morning. If anything, the medium term story is strengthening versus my expectations, due somewhat to the improved world economic outlook as commercial construction activity is slowly improving. The company has received a lot more interest in their product suite since IPOing and that has helped solidify their market leading position. There is still massive opportunity within current geographies and customers, but also in new markets and cross-selling of products.
They have their huge lockup expiration on Decemeber 4th, so I'm not sure how that will dampen trading until then, but I'll be looking to rebuy on a pullback, even today.
Stocktrader
Hey Saleem,
Sold ARUN @ 19.114.
Waiting for TXTR to open to get a buy there.
Stocktrader
Hey Saleem,
Bought TXTR @ 33.35. The sell/buyback worked for once! :)
Stocktrader
Hey Saleem,
Bought EXPE @ 62.25 on this dip.
Stocktrader
Hey Saleem,
Bought a speculative position in AKS @ 5.25. It is powering through a steel downgrade today and got large positive comments from GS yesterday about their cost structure going forward.
Stocktrader
Hi Stocktrader,
Good moves, sell ARUN & buying TXTR AKS & EXPE.....
Saleem
Hey Saleem,
Apparently I could have been more patient on TXTR, but I was worried about a quick reversal. I picked a price I liked, and entered the order before the market opened so I could get some of the first prints.
As for ARUN, the quarter and guidance were definitely better than many expected, but the valuation still bothered me a little. I think it needs time to gather itself under the 200 DMA before a more convincing break. Their earnings leverage won't really come until next quarter's guidance.
Stocktrader
Hey Saleem,
Sold DWRE @ 55.54. It wasn't working as anticipated to buy the secondary and I don't have any special insight into the company.
Added to TXTR @ 31.869 and AKS @ 5.259. I am extremely excited about the long term prospects of TXTR here. There shouldn't be any long term sellers today, just traders who got mixed up on how earnings would play out. I would not be surprised to see afternoon strength as the traders close out and institutions use the dip to buy.
Stocktrader
Hi Stocktrader,
Good luck with Overweight TXTR AND AKS
Saleem
Post a Comment