Indices closed UP second day in a row.
S&P 500 @ 1892.49, high 1896.33, low 1885.39
RSI @ 56.34
CMF @ 0.212
Internals were :
UP volume led by 1.81 to 1 in NYSE & 2.85 to 1 in Nasdaq
Advancing stocks led by 1.84 to 1 in NYSE & 2.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 95 in NYSE & 23 in Nasdaq
VIX UP 1.01% @ 12.03
Oil @ $103.74
Gold @ $1295.00
Stocks which were UP 1% or more included GRPN OWW
M LEN YY YELP LNKD TSLA GOOGL LVS CMG
CSIQ ONVO INVN GTAT YNDX AMCC CIEN
FNSR PANW SPLK SBUX DATA CSOD MS
TRLA Z WYNN TRIP MLNX.....
AH ER : MRVL Down 2.44%, ARUN Down 7.43%
NTAP UP 1.49%, BRCD UP 1.85%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE confirmed this rally by closing higher two days in a row. Nasdaq closed above 50 DMA in almost 2 months. Volume was higher today. I am expecting higher close again & should see new all time highs in S&P 500 ahead of memorial day long weekend. Staying diversified has helped my portfolio to balance any negative TAPE due to earnings reaction which @ best has been unpredictable. Staying the course with conviction is the only way to counter wild swing in stocks & market.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteBought PANW @ 66.35.
Stocktrader
Hey Saleem,
ReplyDeleteWow this market again...guess I should have waited 10 minutes.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with PANW,much stronger than most high beta.
Saleem
Hey Saleem,
ReplyDeleteBought AXLL @ 44.474.
With new home sales doing better, these guys should benefit. Also, natural gas prices have eased back some. This could be a nicely leveraged play with many things hitting positively right now.
Stocktrader
Hi Stocktrader,
ReplyDeleteYES housing is looking much better.
Good luck with AXLL.
Saleem
Hey Saleem,
ReplyDeleteBought WLH @ 26.018.
It seems like it has formed a nice base for breakout possibilities.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with WLH.
Saleem