Indices closed near high of the day & closed @ all time highs in Dow & S&P 500 in high volume. Market internals were strong.
S&P 500 @ 1940.46,high 1941.74, low 1922.93
RSI @ 70.82
CMF @ 0.441
Internals were :
UP volume led by 3.39 to 1 in NYSE & 3.07 to 1 in Nasdaq
Advancing stocks led by 3.55 to 1 in NYSE & 3.77 to 1 in Nasdaq
Net new 52 wk highs were leading by 277 in NYSE & by 75 in Nasdaq
VIX Down 3.31% @ 11.68
Oil @ $102.48
Gold @ $1253.30
Stocks which were UP 1% or more included GRPN SWIR
AG COH TWTR AMZN TSLA SINA EXPE CMG
FFIV GOOG ONVO INVN BSFT ARUN MS
SNDK BRCM AMCC CIEN JDSU CSOD
FNSR C LEN GG YY BIDU WLT
TSLA NFLX PANW TRLA
SPLK X STLD TRIP
ABX SLW MLNX
DATA AEM
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, Mario Draghi gutsy decision of negative deposit rates for banks lit the fire in world market. Mr Tepper was wrong for a month now decides to join the party & given credit for missing series of all time highs. It is NOT about jobs anymore, TAPE is all set to stay into overdrive mode thanks to ECB & all those shorts & traders on the sideline who will jump to cover or be part of this phenomenal bull TAPE.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hey Saleem,
I feel like we're in for a decently below consensus number--for some reason I've been thinking 145-149k. Even if that does happen, I think plenty of stocks will do well enough to make the day ultimately not bad, and anything even close to consensus should be treated well.
Stocktrader
Hi Stocktrader,
Close should be all time high...
Good luck.
Saleem
Hey Saleem,
Glad to see I was wrong about an undershoot. Lovely number today :).
Stocktrader
Hi Stocktrader,
You Need to think like an optimistic Taurus.....that is where i get my ongoing optimistic conclusion....
Saleem
Hey Saleem,
:)
Even though I feared a poor jobs number, I knew the market direction was up. There are so many investors underallocated right now.
Watching rates fall again today--good for homebuilders I hope! DHI looking nice.
Stocktrader
Hi Stocktrader,
I was checking my friends house valuation in your neighborhood on Zillow....2002 he spent 600k..last night it was valued @ 725k...my research for housing sector.
Saleem
Hey Saleem,
Not bad :)
Stocktrader
Hey Saleem,
Sold DATA @ 61.244.
I had a great run from just two days ago (purchase funds cleared by today). Despite TIBX's warning this week that shows DATA's strength, I find the TIBX CEO's comment that DATA's product is just a "toy" as troubling from a longer term standpoint.
I can use the money for other opportunities. The $SPX RSI at 73 troubles me too.
Stocktrader
Hi Stocktrader,
Good Move in booking profit in DATA.
RSI AND VIX are making historic move not seen in decades....
Caution is OK but staying till music stops is a better strategy.
Saleem
Hey Saleem,
Yes, I don't expect a sustained pullback any time soon. But often when we get this overbought, the intraday dips get a bit bigger, providing for nice opportunity.
Stocktrader
Hey Saleem,
Bought PFPT @ 33.091.
I'm less certain about this pick long term versus the SPLK/YELP I own, but their billings continue to grow nicely, and being almost exclusively subscription-based means their revenues will flow for years down to the bottom line.
The good chart setup (assuming it holds the 200 DMA here) sold me on the position.
Stocktrader
Hi Stocktrader,
Good luck with PFPT...
Saleem
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