TAPE proved once again that it has strength no matter what is thrown @ it. A mixed close is a testimony to its strength & buy the dip mentality.
S&P 500 @ 1955.06, low 1941.50, high 1964.04
RSI @ 52.54
CMF @ 0.012
Internals were :
Down volume led by 1.34 to 1 in NYSE & .87 to 1 in Nasdaq
Declining stocks led by 1.04 to 1 in NYSE & 1.33 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 12 in Nasdaq
VIX UP 5.88% @ 13.15, high today 14.94
Oil @ $97.35
Gold @ $1306.20
Canadian $ @ 90.91
Stocks which were UP 1% or more included MU RAD SWIR
QIHU GTAT YELP GRPN KOG TSL JKS CSIQ SPWR
SINA SU ZNGA LRCX NFLX CCJ TRLA Z AGU....
PS...i had a twitter account since 2009, never used it , today discovered it was hacked so changed its password & cleaned it up & did 4 tweet. I will be setting up my twitter account details in next few days. In the meantime i will tweet in between BLOG posting for trading opportunities or comments.
So follow me @saleemakhtar87
Here is weighting :
LULU 23.73%
MU 20.87%
SWIR 18.70%
FB 16.26%
RAD 13.14%
EGO 7.30%
Exposure 187%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
Another family day puts me home pretty late today--kids getting older means more fun and more time commitment.
A rebound week for the markets helped the portfolio gain 2.25% versus the S&P's +1.22%.
Weekly Winners: DRYS (+10.3% from purchase), PFPT (+9.7%), JKS (+7.3% buy/sell), SRPT (+6.5%), AAL (+5.4%), NXPI (+4.6%), SPLK (+4.1%)
Weekly Losers: M (-4.2% upon sale)
YTD Info:
Portfolio: +1.61%
S&P 500: +5.77%
Russell 2000: -1.89%
The positive momentum from reduced geopolitical tensions carried through the whole week except for a few minor hiccups. I didn't do much in the portfolio except to try and spot good ideas/trades. This worked out well with DRYS and JKS. Here's the portfolio now:
Main Positions (7.0->5.4%): CMI GS FB AAL WLH POT ETN NXPI PFPT BWLD SPLK GM NOW
Speculative Positions (4.2->3.0%): DRYS SRPT
Cash: 12.4%
New Positions: DRYS
Buy/Sell Intraweek: JKS
Closed Positions: M
Add-on: WLH
Now that we've gained back more than half the decline from the peak to trough in recent weeks, we need to re-evaluate our status.
Although encouraged by the reduced chances of a worst outcome, the Ukrainian situation lingers with neither side really backing down. This doesn't have much of a direct impact on most US companies, but can give an excuse for many consumers or companies (especially in Europe) to "pause" for a while. Couple this new wrinkle with an already slowing European economy, and I fear the earnings prospects for many multi-nationals doing business there.
The US is showing some signs of softness, but this could be just a small pause after some ferociously good numbers in recent months. If geopolitics stabilize, the US could certainly see firmness in economic activity again, especially as many input costs like gasoline have dropped in recent weeks.
I find my portfolio was quite divergent this week. A group of stocks did quite well, while the rest did almost nothing. I think this is actually a healthy development as it shows rational thought in stock-buying decisions, and I believe this could continue into year end if economics or geopolitics (or politics) stay choppy. Finding those companies with reasons to move higher, either based on new catalysts or momentum from outlook/earnings, should prove most fruitful in the months ahead.
Although I am worried about the direction of earnings revisions as we pass the midpoint of the quarter, I want to remain in stocks showing relative strength and/or insulated business models to the various concerns of the world. I have some cash now for ideas, and will continue to prune if certain stocks aren't working, hopefully swapping into those that do!
Good luck to all! :)
Stocktrader
Hi Stocktrader,
Good performance by your portfolio beating SPX.
Good luck this week.
Saleem
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