Indices closed mixed despite hotter than expected ADP data & Fed minutes.
S&P 500 @ 1837.49, high 1840.02, low 1831.40
RSI @ 61.98
CMF @ 0.083
Internals were :
Down volume led by 1.09 to 1 in NYSE & .71 to 1 in Nasdaq
Declining stocks led by 1.31 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 140 in NYSE & 163 in Nasdaq
VIX Down .39% @ 12.87
Oil @ $92.33
Gold $1225.50
AH News : BBBY Down 8.38%, M UP 5.52%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE struggled a bit on private payroll report which was stronger than expected which put fear of speedy taper. There is a fear that Friday's jobs report will be stronger than 190K consensus which has jumped today to 200K. I do not believe that jobs report will be super hot, my guess more or less in-line with expectations. In line jobs report may trigger a strong rally on Friday.
BLOG does NOT give buy or sell.
Saleem
14 comments:
Hey Saleem,
I might pick up some buys on a dip today as people fear a "too strong" employment report.
Bought QUNR @ 31.052. They are gaining ground on their competitor, CTRP, and have some of the best growth rates in the Chinese internet space. They also recently announced some record daily mobile ticket bookings. There seems to be a lot of room for earnings estimates revisions higher.
Stocktrader
Hey Saleem,
The big cap stocks I'm targeting are FCX and HPQ. Some smaller ideas are CLDX and RALY.
Stocktrader
Hi Stocktrader,
YES..it is faster taper jitters on strong jobs report.
Good luck with QUNR.... & other deals....
Saleem
Hey Saleem,
Bought CLDX @ 23.099
Bought RALY @ 20.493
Bought HPQ @ 27.835
As today starts to look uglier it definitely makes me regret some of my opening moves, but I hope my ideas comes through in the end.
Stocktrader
Hl Stocktrader,
YES weakness after buying gives a bad feeling.
Good luck with CLDX,RALY,HPQ...
Saleem
Hey Saleem,
The biggest regret I have is selling AAL and watching it skyrocket up--it had been the largest position in the portfolio. It's a lot trickier now.
Bought AAPL @ 539.744. I am expecting a great quarter from them.
Stocktrader
Hi Stocktrader,
Frank Sinatra sang "regrets i had a few..but i did it my way"
I know we all miss some big ones....
Good luck with AAPL....$539 is excellent entry & its showing relative strength today.....
Saleem
Hey Saleem,
I am tempted by FCX, X, and CSOD still.
Stocktrader
Hey Saleem,
Bought CSOD @ 55.51.
Stocktrader
Hi Stocktrader,
Good luck with super strong CSOD....
Saleem
Hey Saleem,
Bought FDX @ 140.995.
I think it has worked off a lot of the overbought condition, and recent developments including much better than expected business, lower fuel prices, and a stock buyback could all drive gains from here. It's a long term trend hard to ignore.
Stocktrader
Hi Stocktrader,
Chart looks good in FDX.
Saleem
Hey Saleem,
Wow on this timing:
14:06 EDT FDX theflyonthewall.com:
FedEx price target raised to $173 from $122 at Argus
Argus increased its price target on FedEx as the firm thinks the company's margin expansion in Q2 was solid, while the growth of its ground segment was strong. The firm finds the stock's valuation attractive and keeps a Buy rating on the stock. :theflyonthewall.com
Stocktrader
Hi Stocktrader,
FDX is stable in bad market.
Saleem
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