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
9 comments:
Hi Stocktrader,
Added 15% LULU @ $48.12.....
Saleem
Hey Saleem,
Good luck with more LULU. I think traders are mostly washed out of the name, so I think you have a good entry.
Stocktrader
Hey Saleem,
This could be sentimentally big for the likes of JKS, TSL, etc:
http://www.digitimes.com/news/a20140423PD210.html
Stocktrader
Hey Saleem,
Added to JKS @ 30.11.
Stocktrader
Hi Stocktrader,
Good luck with JKS add on.
I have to read that article you referenced.
Saleem
Hey Saleem,
It basically says TSLA will use locally-sourced PV modules to build its supercharger network in China.
Stocktrader
Hi Stocktrader,
YES...That will be very bullish...do you know the timeliness for that factory..
Saleem
Hey Saleem,
I'm not sure, and I know it will roll out slowly, but I was making more a call on the major Chinese PV players who consistently have P/Es well below that of their American peers. This kind of news could close that gap at least a little.
Stocktrader
Hi Stocktrader,
SPWR is catching up fast to its recent decline on GOOG linkup news....
Chinese Solars Q1 is iffy based on YGE & TSL announcement of lower shipment.....
Saleem
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