Thursday, March 20, 2014

Indices closed UP .27% to .67%.....NICE !!!!

TAPE rebounded nicely after initial hesitation. All indices closed green.

 S&P 500 @ 1872.01, high 1873.49

 RSI @ 58.31

 CMF @ 0.092

 Internals were :

 UP volume led by 1.87 to 1 in NYSE & 1.33 to 1 in Nasdaq

 Declining stocks led by 1.06 to 1 in NYSE & 1.03 to 1 in Nasdaq

 Net new 52 wk highs were leading by 63 in NYSE & 107 in Nasdaq

 VIX Down 3.97% @ 14.52

 Oil @ $99.43

 Gold @ $1330.50

 Stocks which were UP 1% or more included LNKD JCP NFLX
CSIQ CMG YUM FSLR SPWR INVN LRCX SNDK
BRCM AMCC CIEN FNSR C AG GRPN SPLK
SBUX X MS TRLA Z.........

 AH ER : TIBX UP 1.90%, LEN Down 2.47% Before open.
               NKE Down 3.31%, RALY Down 4.43%
               SYMC Down 6.05% ( CEO departed )

 AH Futures Down

 AH Asian Markets Mixed

 AH Oil Down

 AH Gold UP

 About market, TAPE is under tremendous selling pressure so any positive close is a major sign of strength. Seasonally we are in a weak period, earnings are out mostly. Most stocks whether Chinese or Cloud based are under intense selling pressure. It is important not to be concentrated in any one sector, diversification & focus on strong sector should offset any market weakness. It is becoming a "stock picker" market, so do your analysis on a daily basis.

 BLOG does NOT give buy or sell.

 Saleem
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15 comments:

  1. stocktrader_1996March 21, 2014 at 6:22 AM

    Hey Saleem,

    Well...after two days and the subsequent price action, I think the market has decided nothing is wrong. I'll be getting more long today with either stock buys or closing my TZA hedge or both.

    Stocktrader

    ReplyDelete
  2. Stocks100March 21, 2014 at 6:33 AM

    Hi Stocktrader,

    Good luck with your strategy.

    Saleem

    ReplyDelete
  3. stocktrader_1996March 21, 2014 at 6:48 AM

    Hey Saleem,

    Bought DATA @ 89.566 after the secondary priced finally.

    Stocktrader

    ReplyDelete
  4. Stocks100March 21, 2014 at 6:53 AM

    Hi Stocktrader,

    Good luck with DATA...what is the price of secondary.

    Saleem

    ReplyDelete
  5. stocktrader_1996March 21, 2014 at 6:55 AM

    Hey Saleem,

    89.25.

    Stocktrader

    ReplyDelete
  6. Stocks100March 21, 2014 at 6:57 AM

    Hi Stocktrader,

    Thanks !

    Saleem

    ReplyDelete
  7. stocktrader_1996March 21, 2014 at 7:45 AM

    Hey Saleem,

    Sold TZA @ 14.64.

    With the prospects of a recovering US economy, I'm not sure how the small caps can be held down. One of the things I was counting on was all the issuance, but we are well into the impact of that now--just look at the charts of YELP, FEYE, etc.

    Stocktrader

    ReplyDelete
  8. stocktrader_1996March 21, 2014 at 7:51 AM

    Hey Saleem,

    Bought DRYS @ ~3.48 avg.

    Stocktrader

    ReplyDelete
  9. Stocks100March 21, 2014 at 8:08 AM

    Hl Stocktrader,

    There is selling pressure ln many. Stocks....

    Good luck with DRYS.

    Saleem

    ReplyDelete
  10. stocktrader_1996March 21, 2014 at 8:30 AM

    Hey Saleem,

    Added to JKS @ 32.709.

    Stocktrader

    ReplyDelete
  11. Stocks100March 21, 2014 at 8:45 AM

    Hi Stocktrader,

    Chinese solars are lagging US solar....i am sure they will come out of their coma soon !!!!

    Good luck with add on in JKS...

    Saleem

    ReplyDelete
  12. stocktrader_1996March 21, 2014 at 9:41 AM

    Hey Saleem,

    Sold RALY @ 17.42. It was a mixed report, and the conference call didn't have the enthusiasm of other calls nor others in the cloud space. They are struggling with the costs of growing I want to see better progress here before re-entering. Their best option might be to get bought--I would not be surprised to see them do a bit of shopping around.

    Stocktrader

    ReplyDelete
  13. Stocks100March 21, 2014 at 9:46 AM

    Hi Stocktrader,

    It was a good move to sell RALY....their EPS picture has worsened...

    Saleem

    ReplyDelete
  14. stocktrader_1996March 21, 2014 at 9:47 AM

    Hey Saleem,

    Bought WLH @ 27.995.

    After falling the last couple days post-Fed, I think the housing sector is priced right and I expect a nice Spring selling season.

    Stocktrader

    ReplyDelete
  15. Stocks100March 21, 2014 at 9:54 AM

    Hi Stocktrader,

    YES..i agree that spring should bring buyers into housing..pent up demand...i am watching LEN to see where the support is.

    Good luck with WLH.

    Saleem

    ReplyDelete