Indices closed near low of the day, housing data was weak in US.
S&P 500 @ 1836.25, low 1835.60, high 1846.13
RSI @ 57.86
CMF 0.140
Internals were :
Down volume led by 1.00 to 1 in NYSE & 1.26 to 1 in Nasdaq
Advancing stocks led by 1.31 to 1 in NYSE & 1.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 157 in NYSE & 173 in Nasdaq
VIX Down .74% @ 14.68
Oil @ $102.20
Gold @ $1323.60
Canadian $ @ 88.72
Stocks which were UP 1% or more included HMY OTEX
PCLN LEN CSOD WYNN AGU......
Here is my weighting :
MU 33.10%
KOG 25.96%
SSRI 23.07%
ZNGA 11.00%
ALU 6.87%
Exposure 139%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
A consolidation week for the S&P was a great one for the portfolio. I gained 2.46% versus the S&P's -0.13%.
Notable Winners: CLDX (+14.2% from purchase), PFPT (+5.3%), AAL (+5.1%), CSOD (+4.6%), NOW (+2.6%), AGU (+2.6%), YELP (+2.3%), Z (+2.3% upon sale), DATA (+2.2%)
Notable Losers: RALY (-9.0%), JKS (-2.0%), CNX (-2.0% from purchase)
YTD Info:
Portfolio: +0.34%
S&P 500: -0.66%
I didn't make too many moves this week other than trying to swap out old ideas for fresh ones. Here's the current portfolio:
Highest Weights: AAL (18.8%), AGU (12.1%)
Everything Else (8.0-5.1%): CSOD DATA NOW RALY MOS CLDX FDX PFPT CNX YELP JKS
Cash: 0.1%
Closed Positions: Z SPLK
New Positions: CLDX CNX
Sell/Buyback: YELP
Trim: MOS
Add-on: AGU
As the market struggled with weak data both domestic and abroad (China notably) and also persistently high energy prices, certain sectors reasserted themselves in the search for growth in an uncertain environment. Besides the obvious energy that did well, many of my sectors like cloud software, biotech, airlines, and fertilizer did fairly well, and precious metals and semiconductors rounded out the leaders this week.
The resurgent leadership from many growth sectors tells me this market is healthy despite the flat week and poor data. Smart investors are looking past the weather effects and finding those companies that reported well this earnings season and have many quarters/years of growth ahead. I am extremely encouraged by the price action in many of my favorite sectors and companies, hand-picked for secular growth characteristics.
A few possible areas that could trip up the market would be a too-hawkish Fed in the face of some weak US data, a weakening Chinese growth situation, persistently high energy prices that creates a "tax" on many companies and consumers, and a housing market that appears somewhat stalled even beyond the weather effects. Although there are worries in all of these, none are problematic enough right now to stop the growth areas of the market, but we should remain vigilant for further worsening and react accordingly.
Overall, I don't have much to say this week. We aren't stretched too far either way on RSI or sentiment, two areas I watch closely, so deep analysis for a potential reversal or inflection point isn't really necessary. The market is just consolidating a huge down and then up move, and secular growth sectors of the economy are outperforming. It's times like these when a little speculation can create great returns as long as you don't get too carried away on risk. I hope I have a good balance right now.
Stocktrader
Hi Stocktrader,
My take on market is same as yours..nothing to worry too much.
Based on what you wrote Z purchase was $91 plus & Sales was $82 plus...you are showing that as gain of 2.3% ??? that will affect your Wk / YTD numbers.
Saleem
Hey Saleem,
Z closed last week at $80.96, therefore a small rebound gain for this specific week prior to selling. Check last week's recap for how the big loss hurt the numbers.
Also, there's no way for me to mess up the weekly and YTD totals. I just take the current portfolio value and compare against the value of last week's and Dec 31st's closes respectively.
Stocktrader
Hi Stocktrader,
OK...i see how you calculated...my thinking was it was done on difference of buy vs sale & also it did span over two weeks....
My apology....
Saleem
Hey Saleem,
It's no problem--there are so many numbers floating around it's easy for me to get mixed up sometimes too.
The great thing about comparing the overall portfolio value week to week is that it ignores all the noise of the buys/sells which can sometimes be numerous. If I have more money than last week or last year, then I'm up--easy math! :)
Stocktrader
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