Indices closed UP again.
S&P 500 @ 1838.63, high 1841.65
RSI @ 60.18
CMF @ 0.166
Internals were :
UP volume led by 2.01 to 1 in NYSE & 1.42 to 1 in Nasdaq
Advancing stocks led by 2.04 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 132 in NYSE & 128 in Nasdaq
VIX Down 4.03% @ 13.57
Oil @ $100.30
Gold @ $1318.60
Canadian $ @ 90.23
Stocks which were UP 1% or more included SSRI ZNGA
MA LULU AMCC JCP LVS TWTR LEN DNKN
LRCX CIEN JDSU FNSR X STLD SLW
CCJ WUBA MLNX.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
A week with some questionable decisions ended with the portfolio gaining 1.51% versus the S&P's +2.32%.
Notable Winners: CLDX (+9.4% upon sale), DATA (+8.9%), SPLK (+7.8%), JKS (+6.6%), QUNR (+6.6% upon sale)
Notable Losers: Z (-11.3% from purchase), AAL (-3.5%)
YTD Info:
Portfolio: -2.07%
S&P 500: -0.53%
The moves this week were to sell some stocks that had nice gains for those I thought could move higher. This effort failed on many fronts. Here's the portfolio as it stands now:
Major positions: AAL (18.4%), MOS (12.3%)
Other positions (7.8-4.9%): CSOD RALY DATA SPLK NOW FDX AGU PFPT YELP JKS Z
Cash: 0.0%
Closed Positions: CLDX POT QUNR
New Positions: MOS(Mon) YELP Z
Add-ons: AAL MOS(Thu)
The market moved higher every day this week with Thursday being a standout reversal showing the strength of the market. Despite some weak data points, the market looked through all poor data as "weather-related" and an easy resolution to the debt ceiling aided the bullish moves. The S&P and NASDAQ are both very near record highs again.
I continue to believe stock picking is the key to this market, as with many bull markets. I failed on that front this week with additions of Z, AAL, and YELP lagging the market (Z very badly), and with the early sell of QUNR missing out on an extra +12.5%. All I can do is move forward and look for continued opportunities.
Given the congestion zone the S&P is in, it is possible we could churn here for a while, but I also think a possible scenario is just moving higher still. When the market moves aggressively higher on bad data, it leaves many people behind. Given the nature of this up move from the bottom, mostly positive company earnings, and the removal of some political obstacles, the market may just continue that march higher. It is important to be fully invested.
The only portfolio earnings this week is AGU (Thu PM, CC Fri AM). Other watched companies include DRYS (Tue PM), WLK (Thu AM), HPQ (Thu PM), PCLN (Thu PM), GRPN (Thu PM), JWN (Thu PM), and MHK (Thu PM). Next week brings many cloud software company earnings like SPLK, WDAY, and CRM, and I'll be looking forward to those.
My major focus in this shortened week is working around the edges of the portfolio to sell some tired stocks for newer ideas. The landscape is ever-changing and it is important to adapt to new leadership and participate in those winners. I also need to make sure my top positions (AAL, MOS) are in those winning positions.
Stocktrader
Hi Stocktrader,
Your analysis of portfolio buys & sells is extremely informative for many readers. How one makes buying or selling decisions can define strategy.
It has been extremely tough market for most participants as only GOOG FB MU keeps making new highs while other high fliers are being challenged.
Hopefully we all can find our winning strategy very soon.
Saleem
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