TAPE was strong & closed near high of the day despite poor GDP data.
S&P 500 @ 1959.53, high 1960.83, low 1947.49
RSI @ 65.04
CMF @ 0.539
Internals were :
UP volume led by 2.15 to 1 in NYSE & 2.37 to 1 in Nasdaq
Advancing stocks led by 2.27 to 1 in NYSE & 1.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 118 in NYSE & 18 in Nasdaq
VIX Down 4.45% @ 11.59
Oil @ $106.50
Gold @ $1322.60
Stocks which were UP 2% or more included FB RAD
WUBA KORS LNKD KOG TSL JKS CSIQ
FSLR SPWR GOOG TWTR HIMX YY
YELP TRLA Z TRIP MLNX......
AH ER BBBY Down 7.05%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was back on its track & ignored poor GDP number. Nasdaq closed @ its highest level since 2000. This TAPE has lot of momentum & will continue to prove sideliners wrong & will force them to join this rally. There is lot of inflow from money market funds into equities & may go into overdrive on the fear of missing the biggest bull run. July 4th celebration is looking pretty good !
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
Bought back the YELP @ 77.53.
In further thought after selling, I don't think the Amazon threat is a reason to sell the stock...yet. The fact that multiple parties were interested in an OPEN acquisition means there's heavy interest in their business.
Stocktrader
Hi Stocktrader,
Good luck with YELP.
Saleem
Hey Saleem,
I'm going to try again with some homebuilders...bought DHI @ 23.83.
Stocktrader
Hey Saleem,
Every day I'm glad I have AAL--such an earnings powerhouse.
Stocktrader
Hi Stocktrader,
Good luck with DHI...
Yes AAL is a good one to have in portfolio.
Saleem
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