Indices closed UP on low volume.
S&P 500 @ 1885.08, high 1886.00, low 1872.42
RSI @ 54.20
CMF @ 0.170
Internals were :
UP volume led by 1.76 to 1 in NYSE & 3.02 to 1 in Nasdaq
Advancing stocks led by 1.85 to 1 in NYSE & 2.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 94 in NYSE & lows were leading by 10 in Nasdaq
VIX Down .16% @ 12.42
Oil @ $102.61
Gold @ $1293.80
Stocks which were UP 1% or more included WUBA LULU MU SWIR RAD FB YY YELP YHOO LNKD BIDU TSLA
PCLN GOOGL AAPL AG LVS KOG TSL EXPE
SPWR ONVO INVN YNDX ARUN BRCM
AMCC CIEN JDSU FNSR NFLX
PANW SLW DATA CSOD
MGA ZTRLA TRIP
MLNX...
AH ER, URBN Down 4.59%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was much better & closed near high of the day. High beta stocks came to life which is very good for Nasdaq which is the weakest of major indices.IF there is a follow through in high beta stocks for couple of days then we are looking @ a healthy TAPE. Internals were much better today which is a good thing. We need to closed UP on Tuesday to confirm this rally.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
Sold TZA @ 17.99.
Stocktrader
Hi Stocktrader,
TAPE is looking weak....
Good luck with proceed from TZA.
Saleem
Hey Saleem,
With the TZA sell I'm about 67.5% invested right now. I'm looking to stick with that allocation for now, and potentially will sell some more long positions if the action warrants. I think smaller is better right now until we have better direction.
Stocktrader
Hi Stocktrader,
YES...comfort level needs to be very high in this 50DMA market...
Saleem
Hey Saleem,
Sold PFPT @ 30.91 after a nice run. Given their purchase today, I think it's less likely they get taken over themselves, which is part of the thesis for being long this stock.
Stocktrader
Hey Saleem,
Sold WLH @ 25.555.
The action has been awful except for the actual reporting day, and I'm not sure these high end homes will see sustainable demand right now.
Stocktrader
Hey Saleem,
I shouldn't have sold that TZA hedge--ugh, I'm horrible at putting that on and off.
Stocktrader
Hi Stocktrader,
Conviction is very important in any position long or short.
Good luck with your reduced exposure.
Saleem
Hey Saleem,
Sold a few more cyclicals:
AXLL @ 43.122
GM @ 33.323
AAL @ 38.233
Z @ 107.754
The only stocks I have right now are YELP, DATA, and SPLK. SPLK I can't sell for two more days without triggering restrictions on the account.
Stocktrader
Hi Stocktrader,
Good luck with YELP,DATA & SPLK...
Saleem
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