Wednesday, April 30, 2014

Indices closed UP .27% to .30%.....NICE !!!!

Indices closed after Fed stayed the course.

S&P 500 @ 1883.95, high 1885.20, low 1872.69

RSI @ 57.37

CMF @ 0.153

Internals were :

UP volume led by 1.64 to 1 in NYSE & 1.88 to 1 in Nasdaq

Advancing stocks led by 1.99 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new 52 wk highs were leading by 66 in NYSE & lows were leading by 27 in Nasdaq

VIX Down 2.19% @ 13.41

Oil @ $99.74

Gold @ $1295.90

Stocks which closed UP 2% or more included WUBA MU OWW
RAD FB MA GIB TRLA Z ONVO INVN YNDX LRCX
LSCC.....

AH ER : WDC DOWN 1.57%, JDSU DOWN 6%
               YELP UP 5.61%, PFPT UP 9.47%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, Dow made a closing all time high, S&P 500 is next in line. TAPE is building slowly & offer many trading opportunity.It is important to go with the flow where UP decision has been made, VIX is the only area of concern where 13 has caused change in direction, so do not overstay your welcome as TAPE can change on a dime. There is a rule when we are overbought based on many indicators.

BLOG does NOT give buy or sell.

Saleem

Indices UP .15% to .26%......NICE !!!!!

Indices are UP after Fed reducing bond buying by another $10 billion.

S&P 500 @ 1882.47, high 1882.99, low 1872.69

Internals are positive

Oil Down $1.53

Gold Down $4.20

Canadian $ Down 7 tick @ 90.52

VIX Down 1.39% @ 13.52

Portfolio WUBA GRPN LULU MU OWW 

Most stocks are UP

@ 2.31 following are red :

GRPN SWIR LEN GG YY YELP SPLK TWTR
EXPE YHOO COH LNKD BIDU TSLA
PCLN GOOGL AG COH TSL JKS
CSIQ SINA DNKN EBAY YUM
SPWR RVBD CRUS CIEN
JDSU FNSR ...

BLOG does NOT give buy or sell.

Saleem



Tuesday, April 29, 2014

Indices closed UP .48% to .72%.....NICE !!!!

Indices closed UP.

S&P 500 @ 1878.33, high 1880.60, low 1870.78

RSI @ 55.68

CMF @ 0.158

Internals were :

UP volume led by 1.79 to 1 in NYSE & 2.08 to 1 in Nasdaq

Advancing stocks led by 1.48 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 83 in NYSE & lows were leading by 23 in Nasdaq

VIX Down 1.86% @ 13.71

Oil @ $101.28

Gold @ $1296.30

AH ER : EBAY Down 4.33%, PNRA Down 4.4%

              TWTR Down 11.19%, RFMD UP 6.62%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, Indices strength did not translate into strong internals, also volume was lower than yesterday. Dow & S&P 500 are one day away from making new all time high, Dow 96.26 points away & S&P 500 only 18.96 away, Nasdaq remained @ a distant 9+ days for new highs. TAPE seems difficult to navigate based on lower volume & famous May one day away.

BLOG does NOT give buy or sell.

Saleem

Indices UP .50% to .75%.....NICE !!!!!

Indices are moving higher on generally upbeat earnings report.

S&P 500 @ 1878.78, high 1880.60, low 1870.78

Internals are positive

Oil UP 15 cents

Gold Down $3.10

Canadian $ UP 77 tick @ 90.50

VIX Down 2.08% @ 13.68

Portfolio WUBA GRPN LULU MU OWW

Most stocks are UP

@ 1.47 following are red :

WUBA SWIR LEN YY COH AAPL YUM
FSLR ONVO RVBD LRCX AMCC
LSCC CCJ WLT MLNX.....

BLOG does NOT give buy or sell.

Saleem

Monday, April 28, 2014

Indices closed mixed......

Indices closed mixed after an UP DOWN UP move.

S&P 500 @1869.43, high 1877.01, low 1850.61

RSI @ 52.93

CMF @ 0.162

Internals were :

Down volume led by 1.24 to 1 in NYSE & 1.89 to 1 in Nasdaq

Advancing stocks led by 1.09 to 1 in NYSE & .58 to 1 in Nasdaq

Net new 52 wk highs were leading by 41 in NYSE & lows were leading by 81 in Nasdaq

VIX Down .64% @ 13.97

Oil @ $100.84

Gold @ $1299.00

AH ER / News : HLF Down .7%, GOGO Down 18.87%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under control of supercomputers & hedge funds were in total control. When there is so much volatility in a day that S&P 500 moved 1.3% from high to low in few hours, it only means that hedge funds are not sure about this TAPE. The only way to keep sanity in a TAPE like today is to take a long term view & not be rattled by machines. Also expectations needs to be tempered.

BLOG does NOT give buy or sell.

Saleem

Indices mixed......

Indices opened higher & then reversed sharply.

S&P 500 @ 1861.58, low 1850.61, high 1877.01

Internals are negative with Nasdaq negative by more than 2 to 1

Oil UP 23 cents

Gold Down $2.40

Canadian $ UP 12 tick @ 89.75

VIX UP 1.92% @ 14.33, high today 15.28

Portfolio WUBA GRPN LULU MU OWW

Most stocks are down

@ 2.54 following are green :

LEN GM AAPL COH SU MA V ONVO
CRUS BRCM M AGU MLNX.....

BLOG does NOT give buy or sell.

Saleem

Sunday, April 27, 2014

Sell in May or August ?

Many traders are fixated on Ukraine & Russian moves & fearing the worst.

Nasdaq is giving jitters to many as it trashes high beta stocks.

Much dreaded May is 72 hours away....

Sounds like a "logical sell in May has arrived"

BUT...logic do not work on Wall Street...

Emotions do work for a day or two.....

Lets look @ big picture.....

There are many "regional conflicts going on in this world"

Every so often those "regional conflicts flares UP"

Depending on the politics...reaction is either none to severe......

We may be witnessing an overreaction to Ukraine issue......

I personally believe that Ukraine issue will calm down shortly & some workable agreement may be in place to deal with issues.

World powers have a tendency to flex their muscle to assert themselves in world arena...but in the end it is the "economic costs which brings sanity"

Market may have reacted to obvious on Friday but TAPE may predict resolution starting Monday.....that is the nature of this beast.....

SO...many panicked on Friday on "World War 111" rhetoric.......but there is no world war 111 in the cards.....

All this panic was not reflected in VIX .....which mustered an anemic 5.56% gain on a troubled Friday...its high was 14.67 but closed @ 14.06........

When VIX does not panic...then traders should know that it is all "headlines" & media frenzy.....

Many are looking @ Nasdaq chart & worrying about "head & shoulder pattern"......every 90 days we have this pattern lurking but never comes to fruition.......

The real question is ..why S&P 500 & Dow chart is looking healthy.....any contradiction in pattern is resolved very quickly & majority rules....means IF Dow, S&P 500 & SOX looks healthy then Nasdaq will be pulled towards positive......

Nasdaq has suffered enormously due to high beta being slaughtered, still it has not breached any technical support....still above 4000, closing @ 4075.56....

SO..selling this May is not a good idea.......

We are on the verge of making news highs in S&P 500....

BLOG does NOT give buy or sell.

Saleem

Friday, April 25, 2014

Indices closed down .81% to 1.75%.......

Right before open S&P downgraded Russia's credit rating to BBB-, one level above junk. Immediately Russia's Central Bank raised interest rates by 50 basis to 7.50%.......rest is history.....

S&P 500 @ 1863.40, low 1859.70, high 1877.72

RSI @ 51.01

CMF @ 0.135

Internals were :

Down volume led by 3.10 to 1 in NYSE & 5.45 to 1 in Nasdaq

Declining stocks led by 2.00 to 1 in NYSE & 4.92 to 1 in Nasdaq

Net new 52 wk highs were leading by 39 in NYSE & lows were leading by 31 in Nasdaq

VIX UP 5.56% @ 14.06

Oil @ $100.60

Gold @ $1300.80

Canadian $ @ 89.58

Stocks which closed green included GG OTEX BIDU 
AAPL SPWR CRUS AMCC AG YUM SBUX
MCD ABX SLW AEM GIB AGU TZA.....

Here is my weighting :

MU    36.65%

LULU 29.93%

WUBA 21.34%

GRPN 6.38%

OWW 5.70%

Exposure 173%

Next post by 2 PM Sunday

BLOG does NOT give buy or sell.

Saleem

Thursday, April 24, 2014

Indices closed unchanged to UP .52%......NICE !!!!

TAPE was under pressure due to Ukraine situation but managed to close UP.

S&P 500 @ 1878.61, high 1884.06

RSI @ 56.38

CMF @ 0.163

Internals were :

Down volume led by 1.03 to 1 in NYSE 7 1.19 to 1 in Nasdaq

Declining stocks led by .95 to 1 in NYSE & 1.40 to 1 in Nasdaq

Net new 52 wk highs were leading by 112 in NYSE & 30 in Nasdaq

VIX UP .38% @ 13.32

Oil @ $101.94

Gold @ $1290.60

AH ER :

BRCM Down 2.06%, V Down 4.48%, KLAC Down 5.52%

MSFT UP 2.51%, CRUS UP 3.83%, BIDU UP 4.55%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, despite Ukraine tension market ended UP, that is a major indicator of where indices wants to go. VIX was barely up which is another sign that near term TAPE goes higher. Earning reports are being rewarded or punished based on "real trend" which is a sign of maturity in TAPE. Not every beat is being rewarded IF guidance is downbeat. My read tells me that Friday is looking better than Thursday.

BLOG does NOT give buy or sell.

Saleem

Indices mixed.....

Good earnings are being ignored as TAPE is reacting to tension about Ukraine.

S&P 500 @ 1875.62, high 1884.06, low 1870.24

Internals are mixed

Oil UP 41 cents

Gold UP $6.90

Canadian $ UP 3 tick @ 89.69

VIX UP 3.01% @ 13.67

Portfolio WUBA GRPN LULU MU OWW

Most stocks are down

@ 2.03 following are green :

LEN COH MA AMZN BIDU KOG LVS TSL
JKS CSIQ CMG AAPL V FSLR SPWR
RVBD CRUS LRCX SNDK AMCC
CIEN FNSR SBUX MCD X
AEM GIB MGA WLT
Z WYNN GS
MLNX.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, April 23, 2014

Indices closed down .08% to .83%....

Indices took a pause & closed lower.

S&P 500 @ 1875.39, high 1879.75, low 1873.91

RSI @ 55.46

CMF @ 0.101

Internals were :

Down volume led by 1.12 to 1 in NYSE & 2.07 to 1 in Nasdaq

Declining stocks led by 1.06 to 1 in NYSE & 2.19 to 1 in Nasdaq

Net new 52 wk highs were leading by 128 on NYSE & by 13 in Nasdaq

VIX UP .61% @ 13.27

Oil @ $101.44

Gold @ $1284.60

AH ER :

QCOM Down 3.89%, FIO Down 4.75%

FB UP 3.57%, AAPL UP 7.89%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE rested today on poor housing data in US. AH came "surprisingly strong earnings from FB & AAPL"......AAPL earnings report was a complete surprise to me & all the analysts who cover this stock. Benefit of surprisingly strong earnings that it gives boost to market to go further UP.

BLOG does NOT give buy or sell.

Saleem

Indices down .10% to .73%.......

Indices are slightly lower today after reversing higher for many days.

S&P 500 @ 1875.86, high 1879.75, low 1873.91

Internals are mixed

Oil UP 16 cents

Gold UP $3.10

Canadian $ Down 6 tick @ 89.71

VIX UP 1.52% @ 13.39

In my portfolio :

Added 15% LULU @ $48.12

Portfolio WUBA GRPN LULU MU OWW

Exposure 173%

Most stocks are down

@ 1.37 following are green :

MU GM GG OTEX COH AG KOG JKS SU SPWR
INVN CIEN JDSU BRCM C M STLD X ABX
ABX SLW AEM GIB WLT MLNX....

AH ER of FB & AAPL may not live up to expectations.

BLOG does NOT give buy or sell.

Saleem




Tuesday, April 22, 2014

Indices closed UP .40% to .97%......NICE !!!!!

Indices continued their UP close on good earning momentum.

S&P 500 @ 1879.55, high 1884.89, low 1872.57

RSI @ 56.90

CMF @ 0.133

Internals were :

UP volume led by 2.42 to 1 in NYSE & 3.72 to 1 in Nasdaq

Advancing stocks led by 2.75 to 1 in NYSE & 2.67 to 1 in Nasdaq

Net new 52 wk highs were leading by 124 in NYSE & 51 in Nasdaq

VIX Down .45% @ 13.19

Oil @ $102.13

Gold @ $1281.10

Stocks which were UP 2% or more included WUBA GRPN MU OWW SWIR YY SPLK FB TSLA KORS AG LVS WYNN 
TSL JKSCSIQ FSLR SPWR INVN AMCC NFLX 
PANW TRLA MLNX.....

AH ER / News :YUM UP 3.74%, SWKS UP 8.80%
                          VMW Down 4.99%, CREE Down 7.82%
                          PLUG Down 8.66%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, upward momentum continues & internals are getting stronger. Key earnings report are AH from FB & AAPL, i am expecting one good & one bad. Good earning report should carry the day on Thursday BUT if both are bad we could be in trouble with a sharp pullback. As TAPE has been very good, do not forget to book some gains.

BLOG does NOT give buy or sell.

Saleem
                         

Indices UP .63% to 1.06%.....NICE !!!!

TAPE is strong again on earnings. All indices are green & @ high of the day.

S&P 500 @ 1883.96, high 1884.21

Internals are positive by 3 to 1....strong internals.

Oil Down $2.42

Gold Down $7.70

Canadian $ Down 13 tick @ 89.78

VIX Down 2.11% @ 12.97

Portfolio WUBA GRPN LULU MU OWW

Most stocks are UP

@ 1.31 following are red :

LULU OTEX YHOO KOG SINA SU AAPL
MCD AEM CCJ ....

BLOG does NOT give buy or sell.

Saleem


Monday, April 21, 2014

Indices closed UP .25% to .64%.....NICE !!!!

Indices closed UP on good economic data in US.

S&P 500 @ 1871.89, low 1863.18

RSI @ 54.90

CMF @ 0.108

Internals were :

UP volume led by 1.53 to 1 in NYSE & 2.25 to 1 in Nasdaq

Advancing stocks led by 1.64 to 1 in NYSE & 1.55 to 1 in Nasdaq

Net new 52 wk highs were leading by 84 in NYSE & 27 in Nasdaq

VIX Down .82% @ 13.25

Oil @ $104,37

Gold @ $1288.50

Stocks which were UP 1% or more included WUBA MU 
SWIR GG YY YELP TWTR AMZN FB BIDU 
TSLA PCLN FSLR JKS SPWR TSL 
CSIQ GTAT RVBD ZNGA 
AMCC FNSR AAPL
STLD CCJ MGA
TRLA MLNX
Z.....

Here is weighting after close :

MU    36.98%

LULU 27.74%

WUBA 22.61%

GRPN 6.63%

OWW  6.04%

Exposure 169%

AH ER NFLX UP 6.80%

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE closed strong, S&P 500 & Nasdaq closed @ absolute high of the day, Dow missed it by 10 points. When indices close @ high of the day it means that more UP move to come. Being diversified in this market is the best way to benefit from sector rotation which changes on a daily basis.

BLOG does NOT give buy or sell.

Saleem

Indices UP .26% to .52%.......NICE !!!!

TAPE is on the positive side & near high of the day after some hesitation, economic news was better than expected in US.

S&P 500 @ 1870.79, high 1871.22, low 1863.18

Internals are positive

Oil UP 4 cents

Gold Down $4.70

Canadian $ Down 3 tick @ 89.83

VIX Down 1.27% @ 13.19

In my portfolio :

Sold RAD @ $7.14

Doubled my position in LULU 30% @ $51.10, 70% @ $48.85

Portfolio WUBA GRPN LULU MU OWW

Exposure 169%

Most stocks are UP

@ 2.42 following are red :

LULU GRPN OWW RAD LEN OTEX SPLK
EXPE COH GOOGL KOG AG LEN
SINA CMG YUM ONVO YNDX
ARUN LRCX BRCM C PANW
MCD X ABX SLW AEM
CSOD WLT WYNN
LVS TRIP...

BLOG does NOT give buy or sell.

Saleem

Sunday, April 20, 2014

Technicians are not comfortable with this TAPE ?

Technicians are extremely nervous that we are on the verge of another breakdown.

They are quoting the recent "technical violations" as a long term phenomenon.....

They are firmly in the camp that once a trendline has been broken then there is more to come.....

Technicians are doing "micro analysis" of every indicator there is..be it VIX, Options or history....

It is the much feared "sell in May" syndrome taking hold......

All of the above negativity is reflected in the latest bull to bear ratio, currently

Bulls @ 27.2%

Bears @ 34.3%

Highest bearish reading since April 18,2013.......

Any reading of this extreme can only mean one thing......in my trading history......that opportunity is highest to make good money in short order.......

Technicians may be right in the long run...but this BLOG is meant for short term analysis.....

Short term which could last 72 hours is looking very good.......

We even have a good chance to make new highs in S&P 500 which is more of a balanced index of 500 stocks.....

S&P 500 has gained 2.78% on a closing basis & have gained 3.05% on intraday high basis.....from 1814.36 we touched 1869.63....in 4 straight days.......

SO...any weak open or weakness is a trading opportunity.

YES it is a short term window of opportunity but it does work.....

We are entering weak months from May to early October...but focused / strategic buying should work.

BLOG does NOT give buy or sell.

Saleem

Thursday, April 17, 2014

Indices closed mixed.....

Indices struggled a bit but made it into green in S&P 500 & Nasdaq, Dow was a small loser.

S&P 500 @ 1864.85, high 1869.63, low 1856.72

RSI @ 53.03

CMF @ 0.015

Internals were :

UP volume led by 1.64 to 1 in NYSE & 1.73 to 1 in Nasdaq

Advancing stocks led by 1.43 to 1 in NYSE & 1.83 to 1 in Nasdaq

Net new 52 wk highs were leading by 108 in NYSE & 16 in Nasdaq

VIX Down 5.78% @ 13.36

Oil @ $104.30

Gold @ $1293.90

Canadian $ @ 90.02

Stocks which were UP 1% or more included   GRPN MU OWW
SWIR YY SPLK TWTR LNKD KOG SINA AAPL YNDX
CRUS LRCX SNDK AMCC JDSU FNSR AEM MS
TRLA Z WYNN TRIP...

Here is my portfolio weighting :

MU       36.62%

WUBA 23.39%

LULU 15.33%

RAD   11.32%

GRPN 6.96%

OWW 6.38%

Exposure 162%

Next post by 2 PM on Sunday.

Enjoy Easter holiday.

BLOG does NOT give buy or sell.

PS...on last trading day of the week, there is closing post only, this means on Friday's & holiday week.

Saleem

Wednesday, April 16, 2014

Indices closed UP 1% to 1.29%.....NICE !!!!

TAPE was strong & closed UP 3 day's in a row.

S&P 500 @ 1862.31, low 1846.01

RSI @ 52.37

CMF @ 0.041

Internals were :

UP volume led by 3.68 to 1 in NYSE & 4.40 to 1 in Nasdaq

Advancing stocks led by 3.88 to 1 in NYSE & 4.40 to 1 in Nasdaq

Net new 52 wk highs were leading by 88 in NYSE & 5 in Nasdaq

VIX Down 9.16% @ 14.18

Oil @ $103.76

Gold @ $1303.50

Stocks which were UP 2% or more included JKS PANW YELP
OTEX YY EXPE YHOO MA V AMZN TSLA PCLN
GOOGL LVS TSL CSIQ CMG YNDX ARUN
CIEN FNSR SBUX Z....

AH ER : AXP Down .92%, GOOG Down 3.15%
               IBM Down 4.23%, SNDK UP 5.80%

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, Dow & S&P 500 closed @ absolute high point of the day, Nasdaq missed it by 5 tick that showed strength of this TAPE. We are looking @ ongoing UP move with some consolidation. Buying on any weakness should work.

BLOG does NOT give buy or sell.

Saleem

Indices UP .63% to .70%......NICE !!!

TAPE is strong again & all indices green.

S&P 500 @ 1854.56, high 1858.45, low 1846.01, 50 DMA @ 1848.72.....comfortably above 50 DMA.

Internals are positive almost 2 to 1

Oil Down 14 cents

Gold UP $2.10

Canadian $ Down 34 tick @ 89.93, Central Bank Governor hinted on possibility of lower rates....

VIX Down 6.53% @ 14.59

In my portfolio :

Added 40% OWW @ $7.45

Portfolio WUBA GRPN LULU MU OWW RAD

Exposure 162%

Most stocks are UP

@ 1.51 following are red :

WUBA LULU LEN SPLK TWTR LNKD FB AG
SINA FFIV SPWR CRUS LRCX C
AMCC GMCR MCD X STLD
ABX SLW AEM WLT...

BLOG does NOT give buy or sell.

Saleem

Tuesday, April 15, 2014

Indices closed UP .29% to .68%.....NICE !!!!

TAPE staged a high volume reversal & closed UP.

S&P 500 @ 1842.98, high 1844.02, low 1816.29

RSI @ 47.13

CMF @ -0.012

Internals were :

UP volume led by 1.76 to 1 in NYSE & 1.46 to 1 in Nasdaq

Advancing stocks led by 1.56 to 1 in NYSE & .90 to 1 in Nasdaq

Net new 52 wk lows were leading by 0 in NYSE & 96 in Nasdaq

VIX Down 3.10% @ 15.61, high 17.50

Oil $103.75

Gold $1300.30

AH ER INTC UP 1.53%, YHOO UP 6.84%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE made a huge reversal around 1PM & closed near high of the day. Dow closed above 50 DMA which is a good sign for market direction. We also got confirmation of this rally with back to back higher close. Chinese Q1 GDP came in @ 7.4% vs expectations of 7.3%. This is another reversal news from China. We are all set to make further UP move with S&P 500 heading above 50 DMA.

BLOG does NOT give buy or sell.

Saleem

Indices mixed......

Indices were in freefall on Ukraine news but has recovered nicely, only Nasdaq is down which came within 5 points of going through 200 DMA......

S&P 500 1834.13, low 1816.29 this was higher low from 1814.36 which was two days ago.....

Internals are negative & 3 to 1 negative in Nasdaq

Oil Down 21 cents

Gold Down $26.00

Canadian $ Down 22 tick @ 90.18

VIX  UP .62% @ 16.21, high today 17.50

Portfolio WUBA GRPN LULU MU OWW RAD

Most stocks are down

@ 2.26 following are green :

MU GRPN  GM SPLK TWTR LNKD MA KORS TSL
YHOO V ONVO ARUN CRUS BRCM JDSU
FNSR C PANW M GMCR MCD GIB 
CSOD MS WLT Z AGU TRIP....

BLOG does NOT give buy or sell.

Saleem

Monday, April 14, 2014

Indices closed UP .57% to .91%....NICE !!!!

Indices closed near high of the day except Nasdaq which was @ midpoint.

S&P 500 @ 1830.61, high 1834.19, low 1815.80

RSI @ 43.43

CMF @ -0.031

Internals were :

UP volume led by 3.21 to 1 in NYSE & 1.55 to 1 in Nasdaq

Advancing stocks led by 1.93 to 1 in NYSE & 1.11 to 1 in Nasdaq

Net new 52 wk highs were leading by 12 in NYSE & lows were leading by 54 in Nasdaq

VIX Down 5.40% @ 16.11

Oil @ $104.05

Gold @ $1327.50

Stocks which were UP 2% or more included MU OWW
SWIR YY SPLK TWTR EXPE MA BIDU CSIQ
DDNKN FFIV V ARUN C PANW STLD 
MS WLT....

AH ER PBY Down 5.85%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed on a stronger note which is a good thing. Internals & volume leaves a lot to be desired. We need to close on Tuesday near high of the day otherwise we could struggle again. Markets are always tricky so it is better to stay diversified & watch how your portfolio is performing against market.

BLOG does NOT give buy or sell.

Saleem

Indices UP .32% to .62%...NICE !!!!

Indices are staging an oversold bounce.

S&P 500 @ 1824.75, high 1834.19

Internals are positive 

Oil UP 30 cents

Gold UP $8.60

Canadian $ UP 22 tick @ 90.43

VIX Down .41% @ 16.96

Portfolio WUBA GRPN LULU MU OWW RAD

Most stocks are UP

@ 2.19 following are red :

WUBA COH LNKD TSLA KORS TSL AMZN
SINA AAPL FSLR SPWR ONVO YNDX
RVBD CRUS BRCM JDSU FNSR M
GMCR TRLA Z MLNX LEN YY
FB....

BLOG does NOT give buy or sell.

Saleem



Sunday, April 13, 2014

Technical selling to continue on Monday......

We are witnessing a classic selling climax which may happen on Monday.

Based on my read Nasdaq may breach 200 DMA which sits @ 3936.25......

Not only Nasdaq may breach but it may go below 3900 to 3890 area......

Based on my read S&P 500 should hold 200 DMA which sits @ 1761.43.....not only it should hold but it may rebound without breaching it.....

Currently 200 DMA on Nasdaq is only 1.57% away but in S&P 500 it is 2.97% away.....

We may have strong support in mid point of those two %....which is a downside risk of further 2.27% as an average......never realized math will come handy in technical analysis......

Looking @ my crystal ball....we may see a higher than low close on Monday......which will be a "technical victory" based on all the pessimism we have......

We are currently "technically deeply oversold"...so a bounce is imminent.....

Biotech is down 7 week in a row & is down 21%...a bear market move....

There are optimistic signs already happening, there was inflow of $8.9 billion in equities in the week of April 9, 2014.......@ the same time outflow from US treasury which is first time in 4 weeks.....

There is optimism in US economy as jobless claims have fallen to a level not seen in many years......

Consumer confidence is @ highest level.....sign of good things to come in terms of retail & technology spending.

When S&P 500 & Nasdaq has the worst TAPE since June of 2012......we may be extremely close to a "major turnaround"

BUT...one reality will still play out that PE matters......do not go bottom fishing on high beta stocks which has "no earnings"...that game is over for a long time......

SO...get your high earnings growth stocks list out & buy aggressively @ open on Monday...you never know you may be buying stocks @ lowest point as fear is rampant......

Good luck with your own take of this market.

Buy close to low, sell close to high still works......

BLOG does NOT give buy or sell.

Saleem

Friday, April 11, 2014

Indices closed down .89% to 1.34%.....

Indices continued its downward spiral & closed near low of the day.

S&P 500 @ 1815.69, low 1814.36

RSI @ 38.61

CMF @ -0.033

Internals were :

Down volume led by 4.04 to 1 in NYSE & 6.03 to 1 in Nasdaq

Declining stocks led by 2.56 to 1 in NYSE & 4.10 to 1 in Nasdaq

Net new 52 wk lows were leading by 29 in NYSE & 76 in Nasdaq

VIX UP 7.17% @ 17.03, high 17.85

Oil @ $103.74

Gold @ $1319.00

Canadian $ @ 90.40

Stocks which closed green included RAD
KOG EXPE CMG GTAT ARUN
FNSR PANW GIB MGA
WYNN

Here is my portfolio weighting :

MU      34.67%

WUBA 25.20%

LULU 16.54%

RAD   11.92%

GRPN 6.99%

OWW 4.68%

Exposure 159%

Next post by 2 PM Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, April 10, 2014

Indices closed down 1.62% to 3.10%........

Indices closed near low of the day.

S&P 500 @ 1833.08, low 1830.87, high 1872.53

RSI @ 42.53

CMF @ -0.018

Internals were :

Down volume led by 8.47 to 1 in NYSE & 17.42 to 1 in Nasdaq

Declining stocks led by 3.56 to 1 in NYSE & 6.57 to 1 in Nasdaq

Net new 52 wk highs were leading by 33 in NYSE & lows were leading by 29 in Nasdaq

VIX UP 14.98% @ 15.89, high 16.38

Oil @ $103.40

Gold @ $1320.50

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE is in total disarray closing lower lows & on high volume. There is no denying this fact that TAPE has been poor since start of 2014 & market internals are extremely weak now. TAPE has been giving a clear message that to pay attention to fundamentals of each stock you own. No earnings means severe downward pressure. This is NOT a momentum environment @ all, it IS back to basic of PE. Lot of guesses going around as to how low we can go, Carter Worth thinks first stop is 1675 then on to 1520 in S&P 500, i can easily see that we can go to 200 DMA which is another 3.98% in S&P 500 & 2.98% in Nasdaq, i have a feeling that we may breach 200 DMA especially in Nasdaq. 

Chinese CPI came in @ +2.4% vs expectations of +2.5%......wholesale inflation falling @ -2.3% vs expectations of falling -2% for March 2014 all stat year over year.

BLOG does NOT give buy or sell.

Saleem

Indices down 1.09% to 2.48%.....

Indices are down sharply after an oversold bounce yesterday.

S&P 500 @ 1845.04, low 1840.03...this is higher than low of 2 day's ago of 1837.49,
50 DMA @ 1843.54

Internals are negative by minimum 2 to 1 in S&P 500 & 5 to 1 in Nasdaq

Oil Down 19 cents

Gold UP $14.00

Canadian $ UP 45 tick @ 90.78

VIX UP 11.87% @ 15.46

Portfolio WUBA GRPN LULU MU OWW RAD

Most stocks are down

@ 1.59 following are green :

RAD LEN GM COH MCD AEM ...

BLOG does NOT give buy or sell.

Saleem

RAD Q4 beats on Sales & EPS......

RAD is reporting the following for Q4 :

Sales actual $6.6 Billion vs estimate of $$6.54 Billion

EPS 6 cents vs estimate of 4 cents

Guiding 2015 Sales @ $26 to $26.5 Billion vs $25 Billion for 2014

Guiding EPS @ 31 to 42 cents vs 23 cents for 2014...

RAD bid $7.13 ask $7.14..closed @ $6.40...jump of 73 cents or 11.4%

BLOG does NOT give buy or sell.

Saleem

Wednesday, April 9, 2014

Indices closed UP 1.09% to 1.72%......NICE !!!!

Indices closed near high of the day after release of Fed minutes.

S&P 500 @ 1872.18, high 1872.43, low 1852.38

RSI @ 53.96

CMF @ -0.004

Internals were :

UP volume led by 2.67 to 1 in NYSE & 5.90 to 1 in Nasdaq

Advancing stocks led by 2.79 to 1 in NYSE & 3.01 to 1 in Nasdaq

Net new 52 wk highs were leading by 71 in NYSE & 14 in Nasdaq

VIX Down 7.19% @ 13.82

Oil @ $103.60

Gold @ $1305.90

Stocks which were UP 2% or more included WUBA LULU RAD
SWIR OTEX YY YELP SPLK EXPE YHOO LNKD MA
FB BIDU PCLN KOG SPWR JKS TSL CSIQ 
ONVO INVN ARUN LRCX AMCC 
CIEN FNSR AG SINA FFIV V
PANW GMCR X GIB MS
CSOD MGA TRLA Z
WYNN MLNX.....

AH ER BBBY Down 5.67%

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong going into Fed minutes but took off knowing that there was no surprise. Most pundits are excited about today's strong rally & giving all kinds of explanation for this move. In my opinion, stocks were deeply oversold & needed to be bought before today's jump. With today's jump many stocks are @ fair value already & may not move too much from hereon. Earnings will be a wait & see game which is getting underway.

BLOG does NOT give buy or sell.

Saleem

Indices UP .76% to 1.32%....NICE !!!!

Indices are @ high of the day confirming this new uptrend. Fed minutes showed no dissent in policy matters.

S&P 500 @ 1866.01, high 1866.60, low 1852.38

Internals are positive by almost 2 to 1

Oil UP 91 cents

Gold UP $1.20

Canadian $ UP 54 tick @ 91.33

VIX Down 6.25% @ 13.96

In my portfolio :

Bought GRPN @ $7.40

Portfolio WUBA GRPN LULU MU OWW RAD

Exposure 159%..highest in 12 months

RAD reports before open Thursday, expectations are :

Q4 Sales $6.54 Billion EPS 4 cents
Q1 guidance Sales $6.37 Billion EPS 7 cents

With new purchase 2 days ago guidance could be lower....

Most stocks are UP

@ 2.09 following are red :

OWW GM TSLA SU RVBD CRUS 
JCP ABX AEM WLT .....

BLOG does NOT give buy or sell.

Saleem