Indices closed near high of the day.
S&P 500 @ 1854.29, high 1854.53
RSI @ 62.62
CMF @ 0.238
Internals were :
UP volume led by 2.65 to 1 in NYSE & 1.73 to 1 in Nasdaq
Advancing stocks led by 2.08 to 1 in NYSE & 1.81 to 1 in Nasdaq
Net new 52 wk highs were leading by 113 in NYSE & 130 in Nasdaq
VIX Down 2.16% @ 14.04
Oil @ $102.40
Gold @ $1331.80
Stocks which were UP 2% or more included KOG
LVS YHOO TSL BIDU FSLR GRPN CRUS
AMCC KBH SPLK JCP WUBA TRLA
WYNN YELP......
AH ER : GPS Down .3%, CRM Down .8%
KOG Down 1.54%, SPLK Down 3.14%
DECK Down 13.78%, OVTI UP 14.81%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, S&P 500 closed @ the highest level in history, Nasdaq closed @ highest level in 14 years. We may get month end buying follow through on Friday. I am expecting a "tough March"......RSI may not get to 70 this time & was not impressed with new 52 wk high list for today. It is important to keep an eye on your winners & take advantage of higher prices by booking gains, you can buy them back in April. Sectors which may do well in March needs to be monitored closely. It is OK to have your own hunch but TAPE will decide on winners for March.
BLOG does NOT give buy or sell.
Saleem
21 comments:
Hey Saleem,
I'm not sure if you caught my comment on yesterday's afternoon post (didn't realize you had made the KOG post already), but it doesn't look like I'll get my SPLK chance today.
In general, all these cloud companies need to rest. Whether they will or not, I'm not sure, but I feel pretty foolish having sold any of the leaders and missing the big pops and hoping for the crumbs afterwards. It seems I tell the right amazing stories, but always find a reason to be out.
Stocktrader
Hey Saleem,
An interesting summary of analysts I just read:
9:12 EST - Splunk's (SPLK) strong F4Q revenue beat and solid view for the new year leaves FBR to say "this party is just getting started" for the data- software company. As it continues to boost its salesforce, that should better help SPLK generate further demand from businesses, the investment bank adds as it hikes its price target 20% to $120 . Meanwhile, fellow bull Cowen posits, " Splunk is the industry standard for machine data. Period." And though Jefferies says, "The company remains one of the best-positioned companies in software," SPLK's valuation is "the only debate." Shares rise 5.7% premarket to $100.96 after having already surged 24% this month to fresh highs. (kevin.kingsbury@ wsj.com)
I pretty much wrote the same thing last night.
Stocktrader
Hi Stocktrader,
Your research is impeccable....sometimes too much knowledge about market gets in the way of making long term bets...
We all live & learn to be patient with our ideas.
Good luck with your potential re-entry in SPLK....
Saleem
Hey Saleem,
I totally messed up which dry shipper to buy. I didn't look carefully enough to notice SB had some special items to impact its earnings report...ugh...
I think JKS/TSL are beneficiaries of that fire at CSIQ's plant. I haven't looked, but it might also be raising module prices some?
Stocktrader
Hi Stocktrader,
YES..i agree that TSL / JKS will benefit from any slowdown @ CSIQ...
Good luck on earning for JKS on Monday before open.....
Saleem
Hey Saleem,
Where did you find the info about JKS reporting Monday morning? I couldn't find anything in that regard.
Stocktrader
Hi Stocktrader,
I always write earning date after company gives earning release date.....
This should be under news from JKS...
Saleem
Hey Saleem,
Oh my, I completely missed that press release. Thanks for the heads up.
Stocktrader
Hey Saleem,
It will be an unusual Monday morning for me then--both JKS and CLDX report before the bell.
Stocktrader
Hi Stocktrader,
CLDX chart is very impressive & JKS has moved UP decidedly from 50 DMA...
I am sure you will have a fine Monday......
Saleem
Hey Saleem,
I am very confident about JKS--I think the analysts are severely underestimating earnings power (of course who knows what the stock reaction will be).
As for CLDX, it is less certain, but they have a nice early stage pipeline that I hope will keep them going for a while.
Stocktrader
Hi Stocktrader,
First is JKS then TSL then CSIQ..all back to back.....
I am out based on reaction from SPWR/FSLR on day one.....want to see how Chinese reaction will be after results are announced......
Saleem
Hey Saleem,
Well...I may not have sold enough of the high fliers! They are really getting crushed today. I am still fine with the ones I kept though--they each are prime takeover candidates (DATA PFPT CSOD RALY).
Stocktrader
Hi Stocktrader,
When big guns get slammed after good earnings...then its time to rethink exposure & picks......
PFPT is bucking the trend.....
Saleem
Hi Stocktrader,
Sold ZNGA $5.03
Saleem
Hey Saleem,
A great trade you made overall there :).
Stocktrader
Hi Stocktrader,
Thanks for your note re ZNGA....
In $4.50 out @ $5.03....
Saleem
Hey Saleem,
I should have bought some WUBA on this overall market selloff. Those numbers were great and deserves probably a bigger move higher. At least I'll be able to research further--hopefully I don't miss a gap higher.
Stocktrader
Hi Stocktrader,
Bought TSL in closing second @ $16.03.....
Saleem
Hey Saleem,
Well hopefully JKS blows off the doors and then TSL can follow up with the same! :)
Stocktrader
Hi Stocktrader,
I hope you are right about JKS & TSL upcoming earnings....
Good luck !
Saleem
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