TAPE is fighting back from earlier losses, only S&P 500 is red barely.
S&P 500 @ 1784.23, low 1777.05
Internals are mixed
Oil Down 18 cents
Gold Down $14.30
Canadian $ Down 14 tick 94.23
VIX Down .75% @ 15.91...high today was 16.67.....looks very good for bullish move in stocks....
Portfolio FB options JKS RALY SINA AUY
Most stocks are down
@ 2.17 following are green :
FB JKS SINA LULU MGA EXPE TSLA
NFLX KORS TSL AMZN CSIQ V
FFIV FSLR GRPN ARUN CEUS
LRCX SNDK AMCC JDSU
FNSR PANW SPLK
SPWR CSOD Z
YELP MLNX....
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Made some moves in the last hour (was waiting for your afternoon post):
Sold WUBA @ 29.106. Despite it being one of my favorite "stories" in the Chinese stocks, the valuation is pretty high right now given the current earnings, and I worry about the high supply of Chinese stocks now and in the near future leading to challenges with institutional money flow. The chart indicates it does not have the momentum behind it currently.
Added to FCX @ 34.95. I think there's the potential for a number of positive near-term catalysts with or without a Fed taper and I needed a little more exposure in global cyclicals.
Stocktrader
Hi Stocktrader,
Good moves based on conviction.
I am not sure where the support is in RALY...any idea ?
Saleem
Hey Saleem,
Technical support on RALY is probably $14, which I believe was the IPO price.
I have no intentions to sell, and see today's news as a positive event, but we are still dealing with the tax-loss selling and negative impact of window dressing. The RSI so low means we'll eventually have a surprise large bounce day.
Stocktrader
Hi Stocktrader,
Thanks for your take...i also see $14 as lowest trade since IPO.....
Yes.....that PR for Marketing Chief was ignored...which was a surprise.
Saleem
Hey Saleem,
Sold GRPN @ 10.67 despite a very interesting chart. It was too small of a position to devote mental energy to it and I don't trust the company.
Stocktrader
Hi Stocktrader,
Good luck with your focus on relevant position.
Saleem
Hey Saleem,
Well done again on the JKS pickup. You are amazing at finding great entries on that stock! :)
Stocktrader
Hi Stocktrader,
Thanks for your comment re JKS....i need many more JKS to get me ahead...
Saleem
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