Indices fought its way to close green.
S&P 500 @ 1845.16, low 1840.66, high 1852.65
RSI @ 59.92
CMF @ 0.156
Internals were :
UP volume led by 1.30 to 1 in NYSE & 1.32 to 1 in Nasdaq
Advancing stocks led by 1.63 to 1 in NYSE & 1.58 to 1 in Nasdaq
Net new 52 wk highs were leading by 148 in NYSE & 149 in Nasdaq
VIX UP 4.97% @ 14.35
Oil @ $102.54
Gold @ $1328.00
Stocks which were UP 1% or more included ZNGA
LNKD LULU JCP M BIDU TSLA JKS LEN
TWTR SINA CSIQ EBAY FFIV INVN
YNDX RVBD CRUS AMCC JDSU
FNSR SWIR PANW SBUX X
STLD CCJ WUBA WUBA
CSOD WLT Z MLNX.....
AH ER : WDAY UP 1.77%, ADSK UP 4.82%
BIDU UP 8.16%, JCP 13.26%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was struggling between red & green but by close gently landed in green. TAPE is marking time before decidedly moving higher. Nasdaq made another new 14 year high intraday. Janet Yellen testimony in front of Senate Banking committee may give more reason for traders to stay bullish.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hey Saleem,
Some amazing earnings came out of SB last night. When I get back this morning, I'll try to swap some AGU for SB if I can get it around $11.
Stocktrader
Hi Stocktrader,
Chart looks great for SB....
Good luck with swap.
Saleem
Hey Saleem,
Swapped half my AGU @ 91.37 for SB @ 10.585.
I had an order to sell AGU @ 92.13 while I was briefly gone this morning but it just missed...
Stocktrader
Hi Stocktrader,
Good luck with SB....
Saleem
Hey Saleem,
I listened to most of WDAY's conference call last night. They are really developing well as a comprehensive HR and more solution for companies.
Even though CSOD is much more "nichy" in HCM, I can't help but see them as still undervalued and a good fit as an acquisition for many players looking to expand their HR/HCM product line. WDAY is currently really not competing against CSOD (only recently one product overlap from what I could see), but will eventually have to expand its line into CSOD's area. They could also accomplish that by buying CSOD, but ultimately, I find it hard to think CSOD stands alone in the end. I think that's why institutions have a bit of trouble embracing the name--the end-game for CSOD is a bit uncertain.
Stocktrader
Hi Stocktrader,
You have a good thing going with CSOD and making new Highs repeatedly.
Saleem
Hey Saleem,
Sold YELP @ 98.612.
I think the stock needs to rest for a while, and I don't feel like a takeover is coming. It would be too limited by getting bought by a company with a singular objective. Without the fear of missing out on that takeover premium, I can feel ok by selling after a nice profit and seeing what happens next.
Stocktrader
Hi Stocktrader,
Always good to book profit & on to the next profitable idea.
Saleem
Hey Saleem,
I just realized we have end-of-month markups going on with many stocks right now...another reason to sell YELP here (albeit maybe too early now that I realize) because it could deflate a bit come March. I think NOW might be seeing those same kind of flows.
My favorite stocks now/for March are solars and shippers. I think we'll see favorable announcements and earnings from the solars and the $BDI is starting to ramp up again for the shippers.
Stocktrader
Hey Saleem,
Sold NOW @ 71.413.
I'll admit, I'm a bit nervous to sell some of these, but I'm trying to raise cash and take profits in those companies that have run a lot.
Stocktrader
Hey Saleem,
With SPLK and CRM after the bell, representing the last of the earnings reports in the sector, I just wonder if that will be the end of the cloud software move for now as we run out of catalysts for a while?
Stocktrader
Hi Stocktrader,
YES..from March it may be a struggle for indices until June......
Good moves today YELP & NOW....
Saleem
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