Indices closed near high of the day. Internals were super strong.
S&P 500 @ 1978.22, high 1979.91, 1960.82
RSI @ 58.00
CMF @ 0.253
Internals were :
UP volume led by 4.77 to 1 in NYSE & 8.51 to 1 in Nasdaq
Advancing stocks led by 4.72 to 1 in NYSE & 3.74 to 1 in Nasdaq
Net new 52 wk highs were leading by 102 in NYSE & lows were leading by 12 in Nasdaq
VIX Down 17.06% @ 12.06
Oil @ $103.13
Gold @ $1309.40
Stocks which were UP 1% or more included FB RAD SWIR
QIHU GTAT YELP EXPE LNKD BIDU TSLA AAPL
GGOGL GRPN OWW RVBD KOG TSL JKS X
CSIQ AMZN CMG MA SPWR FSLR SPLK
ONVO INVN YNDX BSFT HIMX STLD
ARUN CRUS LRCX SNDK CSOD V
BRCM AMCC FNSR MS WLT
NFLX PANW TRLA TRIP
GMCR....
Here is my weighting @ close :
LULU 24.30%
FB 21.79%
MU 19.61%
SWIR 15.83%
RAD 11.59%
EGO 6.88%
Exposure 190%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
6 comments:
what a resilient market!!!!we maybe witnessing the greatest bull market ever -just think of all the money on the sidelines that hasn't even come in
Hi Charlie,
YES.....5 years and it keeps going...no sign of let up $$$$
Saleem
Small caps(-4.7% ) lagging s&p (5.5 % ) does that concern you? Thanks
Hi Charlie,
Small caps are underperforming no doubt as focus is on big cap techs...
Small caps are volatile group but have found support @ 200 DMA & moving UP.
Saleem
Hey Saleem,
A volatile week ended mostly flat with the portfolio losing -0.31% versus the S&P's +0.54%.
Weekly Winners: MS (+3.9%)
Weekly Losers: GTAT (-7.6%), RALY (-2.1% from purchase), SPLK (-1.7%), M (-1.7%)
YTD Info:
Portfolio: +1.13%
S&P 500: +7.03%
Russell 2000: -1.03%
I only made two swaps this week (slowest in recent memory) trying to add more beta after the dip, and letting YELP go early in the week on fear of slowing growth. Here's the portfolio, ready to go for the earnings parade:
Top weighting (19.9%): AAL
Middle weightings (8.8-7.6%): PFPT MS AXLL CMI M
Lowest weightings (6.8-4.2%): SPLK NXPI DHI SGMO GTAT RALY
Cash: 6.2%
New Positions: SGMO RALY
Closed Positions: YELP PRU
With many tech and industrial companies reporting this week, in addition to several portfolio names, it will be very busy. In the portfolio we will see SGMO (Wed PM), NXPI (Wed late PM, Thu AM CC), AAL (Thu AM), DHI (Thu AM), and PFPT (Thu PM). Other big names reporting this week include: Monday-NFLX HAL TXN, Tuesday-AAPL MSFT BRCM BTU, Wednesday-FB DAL DOW EMC FCX GILD QCOM, and Thursday-F GM AMZN BIDU CAT CELG SBUX MMM V POT UA.
With all these earnings, I think this week will be earnings-focused despite many world hotspots. I think the belief that many of these volatile situations are contained at present will keep buyers interested in companies that report well.
The Russell 2000 is at a key crossroads. After breaching the 200 DMA Thursday on a tough market day, it staged a powerful rally back up on Friday. Although this single day looks good from a chart perspective, the rest of the month has been abysmal. The signal from the Fed that bond-buying was ending in October coupled with a focus on many cheap large cap stocks, has put the $RUT on its heels. I am a believer in the fact that a better US economy will power small cap stocks, but they need to show it now. A fall back below that 200 DMA could spell disaster.
As mentioned, my key focus this week will be earnings. The market overall shows no signs of weakness except for a single day here and there, and overbought conditions we saw just weeks ago got worked off through this sideways consolidation. Even sentiment shows signs of weakening as investors grow nervous about the market levels. I think this sets us up perfectly for some great upward moves based on great execution and earnings from leading companies. It is important to be confident with the companies you know well and stick with them!
I look forward to the informative week ahead! :)
Stocktrader
Hi Stocktrader,
YES its earnings deluge...Based on so far it appears to be better than expected for high profile companies...here comes NFLX today..
Saleem
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