Indices battled Ukraine news with Janet Yellen & Mario Draghi speech. By close only Nasdaq could muster the strength of a positive close.
S&P 500 @ 1988.40, low 1984.76, high 1993.54
RSI @ 62.59
CMF @ 0.085
Internals were :
Down volume led by 1.91 to 1 in NYSE & .78 to 1 in Nasdaq
Declining stocks led by 1.68 to 1 in NYSE & .93 to 1 in Nasdaq
Net new 52 wk highs were leading by 85 in NYSE & 46 in Nasdaq
VIX Down 2.47% @ 11.47...closed @ absolute low of the day, 52 wk low 10.28
Oil @ $93.65
Gold @ $1280.20
Canadian $ @ 90.50
Stocks which were UP 1% or more included LULU SWIR
GTAT OTEX YY YELP TWTR LNKD KORS COH
CSIQ HIMX AMCC LSCC NFLX M GMCR
SPLK X DATA MS TRLA Z TRIP......
Here is my weighting :
LULU 21.56%
MU 19.01%
SWIR 18.86
EGO 14.92%
FB 14.19%
RAD 11.46%
Exposure 200%
Next post by 2 PM Sunday
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
A fairly steady, strong week was good for the portfolio also. It gained 1.82% versus the S&P's +1.71%.
Weekly Winners: NOW (+9.0%), WLH (+3.9%), CMI (+3.6%), many +1-3%
Weekly Losers: SRPT (-3.4%), HUN (-1.4% from purchase)
YTD Info:
Portfolio: +3.46%
S&P 500: +7.58%
Russell 2000: -0.28%
After talking some profits Monday on the huge day, I let the rest of the week ride, adding some exposure on Thursday. Here's how the portfolio looks:
Higher Weights (9.1-6.4%): GS FDX CMI FB WLH AAL POT
Lower Weights (5.9-5.6%): NXPI NOW PFPT SPLK HUN BWLD
Speculative Weight (2.8%): SRPT
Cash: 12.4%
New Positions: FDX HUN
Closed Positions: ETN DRYS GM
Add-on: GS
With earnings season behind us, and the end of the month coming, the trade gets pretty easy...either Ukraine heats up and we *might* go down, or nothing happens and we *don't* go down. This puts the risk to the upside and means nearly full or full investment is wise.
Some interesting software companies actually do report this week such as WDAY on Wed PM and portfolio-name SPLK on Thu PM. It will be interesting to see how the market responds to these reports both before and after given the large price move in CRM this week after its earnings. If SPLK ramps enough heading into the quarter, I might sell mine off and see how the stock does given I fear a bit of slower growth and higher spending.
Looking beyond August, some of the things I'm watching for are earnings warnings given the European slowdown and/or Ukrainian crisis. Also, the ability of US companies to effectively do business in Russia or China remains in question. If we get through earnings warning season without problem, the market could really have a nice year-end run.
The financials are an interesting picture right now. With the yield curve flattening every week, you'd think financials would be doing poorly, and they have generally underperformed until this month, and then this week was especially good. With the US economic picture still improving (despite world problems), and overhanging litigation resolutions from BAC (early Thursday) and GS (late Friday), financials put in their best week in a while. I think this could be the start of something much bigger if we really turn the corner on the geopolitical problems and see the yield curve steepen some.
Overall, I'm working with a balance of strong names getting stronger, and some weak names seeing fundamental rebound. I will try and focus on those stocks seeing accumulation, but its never an easy game. Whenever I try and stray from my main core of names, I often find myself on the wrong end of a fundamental or technical picture, and so I need to resist this temptation--there's plenty of winners in the names I *do* follow closely.
Good luck to all in this pre-holiday week! :)
Stocktrader
Hi Stocktrader,
I did not see your post until now. Your portfolio is progressing nicely & catching up in performance.
Good luck with SPLK earnings.
Saleem
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