Jobs report jitters kept market in check resulting in mixed close.
S&P 500 @ 1838.13, low 1830.38, high 1843.23
RSI @ 62.25
CMF @ 0.133
Internals were :
UP volume led by 1.01 to 1 in NYSE & .80 to 1 in Nasdaq
Advancing stocks led by 1.13 to 1 in NYSE & .96 to 1 in Nasdaq
Net new 52 wk highs were leading by 182 in NYSE & 188 in Nasdaq
VIX UP .16% @ 12.89
Oil @ $91.66
Gold @ $1229.40
AH ER AA Down 4.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, it is all about jobs report, i am expecting positive reaction to jobs report, job growth up to 225 K will be taken as "moderate growth" which will keep Fed taper on slow track. Chinese December trade surplus came in @ $25.6 Billion vs expectations of $31.15 Billion. Exports were UP 4.3% vs expectations of 4.9%, Imports UP 8.3% vs expectations of 5.3%. Chinese numbers are tracking below expectations for a while, inflation is running lower than desired. All in all, this week TAPE & VIX action is telling me that all is well in this bull market.
BLOG does NOT give buy or sell.
Saleem
14 comments:
Hey Saleem,
What a head scratcher that number was...
$BDI has been falling for days--today down another -194 to 1512.
With retail weak, AA uninspiring, China weakening?, and this jobs number, I find it hard to find a reason to buy. I think the market could really sell off, although I'm definitely hoping for a more measured response.
JKS with very interesting news today. I might try and start a position if we get a general market selloff.
Stocktrader
Hi Stocktrader,
Jobs report leaves a lot to be desired......Yes China, India, South America are all slowing....
Yes JKS news will give them capacity which they badly need for all the business they can get.
Good luck with your strategy.
Saleem
Hey Saleem,
Bought JKS @ 35.643.
Stocktrader
Hi Stocktrader,
Good luck to both of us with JKS.
Saleem
Hey Saleem,
I've got to say...you've been so right on JKS for a 100%+ move now from that original entry. That's definitely one I've missed.
Stocktrader
Hi Stocktrader,
Thanks for your appreciative note..I think we have another 100 percent left in JKS.
Saleem
Hey Saleem,
Obviously I haven't been following the industry too carefully recently, but today's news is very interesting. Is China starting to force consolidation? That could be a game changer for the remaining players who get free capacity and less competition.
Stocktrader
Hi Stocktrader,
Chinese government is actively involved in promoting solar..all the province are giving loans & helping bankrupt companies in mergers & consolidation.
Saleem
Hey Saleem,
Sold HPQ @ 27.427.
The chart looks vulnerable and the stock lacks a visible catalyst after the PC numbers were poor (always a chance for a weekend acquisition though).
Stocktrader
Hi Stocktrader,
YES..PC is in a decline as tablet takes hold.
Saleem
Hey Saleem,
Bought FCX @ 36.0525. I should have gone along with my plan to buy yesterday!
FCX is benefiting from much higher copper prices this quarter, and their recent oil/gas venture allows for continued cash flow that they could address in a number of shareholder friendly ways. Also, many recent proposals have the Indonesian government relaxing the rules for exports for three more years, perfect for FCX.
Stocktrader
Hi Stocktrader,
You are buying FCX @ support....Copper & Gold will surprise everyone this year...
Saleem
Hey Saleem,
Bought back my SODA @ 50.089.
I've expected this quarter's sales numbers to be good based on their conference calls comments last quarter. It also helps the recent initiation to PT $70 to get some positive action back in the stock. Short interest is extremely high.
There's some history of seasonality in which SODA does well going into Spring, and part of that is the Super Bowl commercial which they'll be doing again this year.
I bought a Sodastream for my inlaws this Christmas, and a segment on CNBC yesterday casually had two different anchors mention they bought some for Christmas gifts also. I know this isn't scientific evidence, but it seems like buzz has been good this season.
Stocktrader
Hi Stocktrader,
You are following Peter Lynch approach to investing...buy what you like...
Good luck with SODA....
Saleem
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