Tuesday, January 21, 2014

Indices closed mixed.....

TAPE was erratic today & closed mixed.

S&P 500 @ 1843.80, high 1849.31

RSI @ 58.51

CMF @ 0.207

Internals were :

UP volume led by 1.34 to 1 in NYSE & 1.63 to 1 in Nasdaq

Advancing stocks led by 1.91 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new 52 wk highs were leading by 194 in NYSE & 
202 in Nasdaq

VIX UP 3.46% @ 12.87

Oil @ $94.99

Gold @ $1241.80

Stocks which were UP2% or more included KOG MU AUY
AMCC BBRY FB TSLA PCLN CIEN CSIQ SPLK
CCJ.....

AH ER : IBM Down 2.82%, AMD Down 11.75%, 
              CREE UP 1.86%, NUAN UP 8.40%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE has been churning for a while & it may be ready for a decisive move UP as shorts are getting comfortable. Earnings have been mixed so far thus market posture of mixed TAPE. Staying engaged should pay off but pay close attention to stocks which are moving UP. Market verdict this year may be different than last year. Go where money flow is.

BLOG does NOT give buy or sell.

Saleem

9 comments:

stocktrader_1996 said...

Hey Saleem,

The FCX results were very uninspiring and I'm looking to sell near open to allocate funds elsewhere. I think it's interesting they plan to pay down massive amounts of debt in coming years instead of other shareholder friendly measures. I wonder if quietly that is saying they expect the commodity supercycle is over?

I'll probably take a speculative position in NUAN. I've always liked the idea of this company, but they always execute so poorly. I wonder if this is finally the inflection point in the business with the positive preannouncement. Carl Icahn being involved also helps for future catalysts.

The "new trends" are really having disruptive impact now. The move to online shopping is killing brick-and-mortar retailers, and cloud software is killing incumbent players like IBM. I wonder if that makes SPLK a "strong buy" on this secondary despite its truly crazy valuation?

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Sold FCX @ 35.00

Bought NUAN @ 16.076

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Added to CRUS @ 20.301.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Added to NUAN @ 15.875.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Sold X @ 26.826.

Even though I expect good earnings, the whole sector is structurally challenged, and the sentiment is fading fast. The move in AA is demonstrating that people think aluminum is the future, not steel. In the end, it becomes a case of not being able to quantify the upside anymore.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Bought SPLK @ 81.383.

This is a bit speculative for me despite knowing the company well. I just see what happened after the WDAY secondary and wonder if SPLK can see similar gains. Also, SPLK is frequently rumored to be an IBM acquisition (for good reason).

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good moves in NUAN, SPLK & CRUS...

It will be interesting to see how they pan out......

Good luck!!!!

Saleem

stocktrader_1996 said...

Hey Saleem,

I decided against WDC due to potential for weak sales into servers. It will be an interesting one for sure.

I'm being very careful in old industries right now--the airlines are one of the few that really look like they still have a bright future ahead.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Comfort level needs to be high in every purchase.

EBAY is reporting tonight..could be a good short....

Saleem