Indices staged a rebound & closed near high of the day.
S&P 500 @ 1967.57, high 1968.67, low 1959.63
RSI @ 57.98
CMF @ 0.402
Internals were :
UP volume led by 1.14 to 1 in NYSE & 1.41 to 1 in Nasdaq
Advancing stocks led by 1.22 to 1 in NYSE & 1.02 to 1 in Nasdaq
Net new 52 wk highs were leading by 82 in NYSE & lows by 4 in Nasdaq
VIX Down 4.05% @ 12.08
Oil @ $100.83
Gold @ $1337.40
Canadian $ Down 62 tick @ 92.80 on poor jobs report, expectations were for +20K actual -9.4 K
Stocks which were UP 1% or more included EGO FB SWIR
QIHU GG YY TWTR YHOO BIDU GOOGL GRPN
SNDK GMCR X STLD WLT TRLA TRIP AG
JKS AMZN EBAY ONVO HIMX ARUN
ZNGA LSCC JDSU....
Here is my weighting @ close :
LULU 25.42%
FB 20.99%
MU 19.27%
SWIR 15.47%
RAD 11.87%
EGO 6.98%
Exposure 190%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
A family gathering today delayed this posting.
In a nasty week for the Russell 2000 (-3.99%), the portfolio lost 2.34% versus the S&P's -0.90%.
Weekly Winners: AAL (+3.0%), YELP (+2.9% from purchase), SPLK (+2.6% from purchase)
Weekly Losers: GTAT (-17.9%), AXLL (-4.8%), PFPT (-4.5% from purchase), MS (-3.7%), M (-3.0%)
YTD Info:
Portfolio +1.44%
S&P 500: +6.45%
Russell 2000: -0.32%
I didn't make too many moves. Mainly I sold some larger, safer positions for some beta stocks as the market was very beat down by Tuesday. Here's the portfolio composition as it stands:
Top Weighting (19.8%): AAL
Middle Weightings (9.1-7.7%): PRU PFPT AXLL MS CMI M
Lowest Weightings (6.9-5.1%): SPLK NXPI YELP GTAT DHI
Cash: 0.0%
New Positions: PFPT SPLK YELP CMI
Closed Positions: DG MSFT
Reduced Position: DHI
Earnings season is now upon us with many large cap financials and tech stocks reporting this week. Although there will be some interesting buzz surrounding these events, I think it is important to stick with the stocks and stories you know well and trust.
The overall market has worked off much of the short term overbought conditions and some sentiment indicators are well balanced (although the Investors Intelligence is still wildly bullish). If the pace of job gains is consistent in the 200k-300k range, and world economies manage to stabilize or slowly grow, I think the market can steadily move higher. Companies have done very well at making adjustments to their businesses to maximize profitability. Although there is a limit to efficiency gains, the hope is that revenue growth is soon coming as the economy strengthens.
In reflecting, it has been a much more difficult year to make money as compared to last. Familiarity and patience is being rewarded, while chasing gains has often worked poorly. I hope this earnings season will again shine a light on those companies ready to outperform in the second half. *We often see major individual stock moves in the second half of the year as certain stocks become the "chosen" ones.* It is important to start recognizing which stocks those are as they well exceed the returns of the average stock.
Good luck to all as earnings season kicks into high gear! :)
Stocktrader
Hi Stocktrader,
I agree that this year is extremely challenging and it may get more so...
We all are trying to get an edge with our strategy.
Saleem
Post a Comment