Thursday, November 21, 2013

Indices closed UP .69% to 1.22%....NICE !!!!

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:

stocktrader_1996 said...

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

stocktrader_1996 said...

Hey Saleem,

Sold ARUN @ 19.114.

Waiting for TXTR to open to get a buy there.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Bought TXTR @ 33.35. The sell/buyback worked for once! :)

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Bought EXPE @ 62.25 on this dip.

Stocktrader

stocktrader_1996 said...

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

Stocks100 said...

Hi Stocktrader,

Good moves, sell ARUN & buying TXTR AKS & EXPE.....

Saleem

stocktrader_1996 said...

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

stocktrader_1996 said...

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

Stocks100 said...

Hi Stocktrader,

Good luck with Overweight TXTR AND AKS

Saleem