Indices were UP & closed near high of the day.
S&P 500 @ 1773.43, high 1774.06
RSI @ 42.87
CMF @ 0.095
Internals were :
UP volume led by 4.63 to 1 in NYSE & 3.25 to 1 in Nasdaq
Advancing stocks led by 3.13 to 1 in NYSE & 1.90 to 1 in Nasdaq
Net new 52 wk highs were leading by 13 in NYSE & 9 in Nasdaq
VIX Down 13.63% @ 17.23
Oil @ $97.84
Gold @ $1257.20
Stocks which were UP 2% or more included KOG MU
MA AMZN LULU AMCC BBRY LNKD MGA
M TSLA LEN DNKN LVS FFIV COH C
YNDX GMCR LRCX SNDK YHOO
SODA PANW SBUX X JCP WLT
WUBA TRLA Z WYNN YELP....
AH ER : OPEN Down 5.75%, LNKD Down 8.21%,
EXPE UP 12.91%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, We are all set for jobs report @ 830 AM, expectations are anywhere from 181K to 185K, this could be the-most talked about non-event. Jobs number which may miss expectations will be discounted quickly due to much talked about weather. Markets have already corrected so no worries about emerging market or jobs report. TAPE is ready to confirm this rally with a green close on Friday.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hey Saleem,
Sold RL @ 155.72 after a nice bounce from the lows. I need to evaluate further on this name given the margin compression.
Stocktrader
Hi Stocktrader,
Market is tough with many earnings misses.....
Saleem
Hey Saleem,
Also trimmed FDX @ 132.20 due to cyclical exposure. I didn't want to sell completely due to what I feel is a massive opportunity in coming years. The new position size is more inline with the other beta positions I have in the portfolio.
Stocktrader
Hi Stocktrader,
It is good to re-evaluate weighting & use proceeds in other ideas.
Saleem
Hey Saleem,
NOW is charging today for no specific reason I can find. It is slowly bringing up a lot of my other software stocks too (SPLK/CSOD/RALY), and might turn DATA and PFPT positive.
If there's one lesson from the ATHNs and YELPs and KORSs, it's that high growth story stocks are still working very well if they show the progress the street is expected. I would never have thought 20% moves were possible in some of these stocks given their runs already.
Stocktrader
Hey Saleem,
Here's some interesting activity I've been doing in my trading account:
POT indicated in their conference call that MOS is getting an extra allocation from Canpotex in the first half of the year. I bought some next week 49 calls for $0.24 today to see if I can catch a flier. There's also potential for the European potash cartel to get back together as those CEOs are talking again. I bought some POT next week 34.5 calls for $0.15 earlier today to see if we can get a breakout there. I've had good luck with POT in that I bought some 32 calls for $0.22 on Monday and sold for $0.95 yesterday (too early but still great!)
Also, bought some JKS Feb 29 calls yesterday right at close for $1.00. I think there's potential for a preannouncement from one of these guys in the next couple weeks and it should be extremely positive.
Finally, bought a few CLDX Feb 27 calls @ $0.55 this morning just in case they announce some good trial results or a takeover.
I'll be going into the weekend with more options exposure than I've had in a while but there's a lot of all or nothing potential trades right now which are perfect for options. My stock positions are CSOD, SPLK, PFPT, DATA in hopes for positive analyst notes or takeovers or momentum continuation through Monday. Options are either too expensive or too illiquid to consider for these kinds of stocks.
I keep trying to find spots for AAL because it is still so cheap, and may get a positive writeup in Barron's this weekend, but I can't seem to find the room and options are pricier than I'd like.
Hope you enjoyed this look into my trading mind! The market doesn't require much general portfolio thought the rest of the day so I thought I'd share some interesting trading ideas I have currently.
Stocktrader
Hi Stocktrader,
Thanks for sharing your strategies.
Options are great IF we catch direction on purchase.
Many stocks are moving UP after touching support.....YY SINA BIDU TWTR all moving UP.
Saleem
Hey Saleem,
Yes, many beta stocks moving much better today. I don't follow the Chinese stocks a whole lot except for WUBA and QUNR. I listened to YY's last conference call and think there's a chance for shortfall, but the market does tend to look past short term margin compression to expand the business if the opportunity is large. As for SINA and BIDU, they are so large, I have a hard time figuring out the competitive landscape surrounding them.
They are likely all good trades right now, I just don't have the necessary comfort level to enter them.
Stocktrader
Hey Saleem,
Another interesting note today:
GOOG just passed XOM for second largest US stock.
Stocktrader
Hi Stocktrader,
Chinese stocks are getting "very difficult to make money"
They keep going UP or DOWN on no fundamental news.....
Saleem
Hey Saleem,
It's so hard to keep updated on the trading account because I move so much. I forgot that's why I don't mention it very often.
I just wanted to confirm that I kept everything that I mentioned above but pared back some of the overall stock exposure trimming a little from each and also added a TWTR weekly 50 put for $0.40 as a bit of insurance for all those long market stocks and options I have. Plus, I think there's a chance for negative articles over the weekend talking about slowing user growth and valuation issues.
I'll stop talking about that trading account now...I could post every 5 minutes if I tried to keep you updated real time!
Stocktrader
Hi Stocktrader,
Thanks for your closing position updates on everything.
I think your trading may be of interest to many...so dont hesitate to update whenever you have time or have the energy.
Saleem
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