Indices zig zagged whole day & closed mixed.
S&P 500 @ 1970.07, 1978.90, low 1962.42
RSI @ 51.26
CMF @ 0.112
Internals were :
UP volume led by .81 to 1 in NYSE & 1.79 to 1 in Nasdaq
Advancing stocks led by .63 to 1 in NYSE & 1.45 to 1 in Nasdaq
Net new 52 wk highs were leading by 25 in NYSE & 7 in Nasdaq
VIX UP .38% @ 13.33
Oil @ $100.27
Gold @ $1294.90
Stocks which were UP 1% or more included MU RAD SWIR
GTAT WUBA OTEX YELP TWTR EXPE YHOO FB
LNKD TSLA GRPN MRVL COH CSIQ CMG
FFIV ONVO YNDX BSFT HIMX ARUN
CIEN FNSR C JCP NFLX PANW M
SPLK X DATA CSOD MS....
AH ER...YELP Down 1.2%, WDC Down 2.64%,
WFM Down 3.38%
CTRP Down 3.93%, NOW Down 5.01%,
AKAM Down 5.40%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE was hesitant today in the face of Fed minutes & Argentina's default, Argentina has defaulted on $13 Billion. TAPE internals remains healthy & wants to go higher. Argentina will not affect market momentum. It is a stock pickers market & not all boats are being lifted, so throwing darts will not work in this environment. Know your stocks well or take time off to study fundamental & technical of each stock.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
Bought YELP @ 68.507.
Bought AAL @ 38.695.
Getting back into a few of my favorites. The results were squishy in some cases, but the franchises remain intact and the pullback has been serious.
Stocktrader
Hi Stocktrader,
Good Move with AAL and YELP.
Can you access news on MU if possible.
Saleem
Hey Saleem,
Samsung last night indicated higher DRAM supply than expected.
08:18 EDT MU theflyonthewall.com:
Goldman said increased DRAM supply an incremental negative for Micron
Goldman said Samsung's increased DRAM bit supply growth forecast is an incremental negative for Micron (MU) while increased capex to supply Line 17 with DRAM is a positive for SPE companies such as Lam Research (LRCX). :theflyonthewall.com
Stocktrader
Hi Stocktrader,
Thanks for MU info.
Saleem
Hey Saleem,
After further thought, I think I made a mistake on YELP.
Sold YELP @ 67.504.
Luckily I've been holding cash all week, so my purchase funds today were settled already, allowing me to sell.
Stocktrader
Hey Saleem,
The problem with YELP was two-fold, both the slowing of businesses added, and serious international problems. I think it's too much wrong for the stock to suddenly see a resurgence.
Stocktrader
Hey Saleem,
Bought FB @ 73.155.
I'd been waiting for a dip on this one, and this is my time I think. I also expect a decent day based on month-end markup.
Stocktrader
Hi Stocktrader,
Good luck with FB.
Saleem
Hey Saleem,
I find SRPT very interesting here based on recent news surrounding their drug focus (Duchenne muscular dystrophy) and the major short interest in the stock as well as some setbacks this year leading to very negative sentiment.
I'm probably too nervous to buy for the long term, but I'm watching closely now.
Stocktrader
Hi Stocktrader,
I just saw your note on YELP...yes comfort level needs to be very high in this market.
Good luck with your Strategy With SRPT.
Saleem
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