Indices extended their record breaking advance.
S&P 500 @ 1827.99, high 1829.75
RSI @ 65.77
CMF @ -0.003
Internals were :
UP volume led by 2.92 to 1 in NYSE & 4.20 to 1 in Nasdaq
Advancing stocks led by 2.43 to 1 in NYSE & 2.65 to 1 in Nasdaq
Net new 52 wk highs were leading by 312 in NYSE & 304 in Nasdaq
VIX Down 5.44% @ 13.04
Oil @ $98.91
Gold @ $1197.00
Stocks which were UP 2% or more included RALY
BBRY FB AAPL QIHU TWTR LEN CSIQ
YNDX CRUS X JCP WLT TRLA Z.....
AH Futures Mixed
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE was strong based on stronger internals. Closing @ new record highs is an indication of the strength of this TAPE. Momentum to pick UP as we start new year. Tuesday we close @ 1 PM.....thus 1 post by 4 PM. Continue your homework in terms of themes & stick with those ideas for the year.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
Added to TXTR @ 37.04.
Stocktrader
Hey Saleem,
Bought BALT @ 6.45 to add some dry bulk exposure and diversity. The $BDI is up again today +30 to 2277 which is unbelievable late year strength and BALT is 100% exposed to the spot market. It would not surprise me to see the $BDI above 3000 early next year which will result in massive upward earnings revisions for these companies.
Stocktrader
Hi Stocktrader,
BALT chart is very impressive...good move getting in that stock.
Good luck with TXTR addition.
Saleem
Hey Saleem,
A couple of ideas I have in mine currently:
1. Packages (UPS) -- I know it's run so much already, but it is best positioned for mass adoption of e-commerce (which I'd argue hasn't already happened until the signs we are starting to see this Christmas).
2. Commodity Chemicals (WLK/AXLL) - Sustained price increases of end products and the improving economy might spark another leg up. Major chemical companies exiting the commodity business helps to consolidation the industry. Both WLK and AXLL have company specific positive points now.
3. Insurers (PRU/MET) - Although I'm not convinced banks are the right move here, insurers should benefit nicely from the rising stock market and gradually rising rates. They are still cheap on a P/B and P/E basis, especially if earnings power is returning.
4. Laggards of 2013 (RALY/TRLA) - Although forced down by year end tax selling, I think these guys could be winners for 2014 that I follow. I'm looking for entries early next week when I'm convinced the year-end portfolio positioning is completed.
5. Computers (WDC/HPQ/INTC/MSFT) - I think 2014 might bring about a better desktop environment than expetced as a business and consumer refresh cycle finally takes hold. I like WDC due to a highly consolidated industry and HPQ for high cash flow and possible market love if they announced a 3D printer entrance. INTC is not quite as cheap as I'd like, and MSFT has a lot of speculation surrounding it already.
6. Chip Equipment Makers (LRCX) - As we expand the use of electronics in 2014 and beyond, I think major semiconductor makers will find it important to allocate capital to new equipment. LRCX is very cheap compared to peers and is arguably better.
7. Dry bulk shippers (SB BALT DRYS) - You know my stance on these. 2014 could be huge!
Hmm. This turned out longer than I thought, but I've been thinking about a lot of things lately I guess! :)
Stocktrader
Hey Saleem,
Bought LRCX @ 54.297.
Stocktrader
Hi Stocktrader,
Thanks for your list of buys as you see it for 2014.....
Good luck with LRCX....
Saleem
Hey Saleem,
That's just some of the new ideas that I haven't really discussed prior. I still like my top positions of AAL, AAPL, FCX, TXTR, and all the smaller ones too. It is tough to balance when I have too many good ideas. I'll be doing more homework and thinking to try and get all my major ideas into the portfolio.
Stocktrader
Hey Saleem,
It is a shame to see my pick like AKS keep going after I sold, but I think the shippers could see even better action as their earnings leverage is so massive.
I know I keep talking about them, but really, I am quite excited! :)
Stocktrader
Hi Stocktrader,
It is very good to be excited about your picks as it displays confidence & pride in your pick.....
Keep talking about those ideas & many more will follow you.....
Saleem
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