Indices closed mixed.
S&P 500 @ 2000.12, high 2002.14, low 1996.20
RSI 66.18
CMF @ 0.125
Internals were :
UP volume led by 1.24 to 1 in NYSE & 1.04 to 1 in Nasdaq
Advancing stocks led by 1.31 to 1 in NYSE & .77 to 1 in Nasdaq
Net new 52 wk highs were leading by 146 in NYSE & 62 in Nasdaq
VIX UP 1.29% @ 11.78
Oil @ $93.88
Gold @ $1283.40
AH ER WDAY UP .78%, WSM Down 11.5%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE is taking a rest after a huge run, ironically there is overconfidence & euphoria about stock market in US, which normally results in downward move. We have 1.5 wk of vacation left which may reduce buying activity. Volume is tapering due to vacation. Market may return to normalcy after in week of September 8th, but IF we are in downward move then it may accelerate in that week, so be careful in your expectation in near term.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
I put in an order to buy WDAY at open. The revenue momentum continues strongly and I feel this could be a nice winner into year's end.
I might end up selling FB at some point to even out the tech beta exposure.
Stocktrader
Hey Saleem,
Got filled @ 88.14.
Stocktrader
Hi Stocktrader,
Good luck with WDAY.
Saleem
Hey Saleem,
Sold FB @ 74.075 to reduce tech beta exposure after the WDAY add. I think FB could rest in this mid-70s range for a while.
Bought DRYS @ 3.18 based on improving dry bulk numbers and a good last quarter. I was debating whether to buy BALT instead because of the better chart and even higher exposure to spot rates, but took a bit more known company to reduce volatility.
Stocktrader
Hi Stocktrader,
Good luck with DRYS.
Saleem
Hi Stocktrader,
Bought MITL @ $10.20.
Saleem
Hey Saleem,
Good luck with MITL! I know very little about them.
Stocktrader
Hi Stocktrader,
This is a technology company based in Canada....this is a new reincarnation of Mitel Network...strong Sales and EPS growth based on acquisition.
Saleem
Hey Saleem,
Good info, thanks :)
Sold SPLK @ 45.944. This is based on my plan to be out ahead of earnings. If anything, WDAY confirmed I should be out as I don't expect SPLK to beat as nicely as WDAY. If WDAY does rally into close to change the perception of those earnings, well, at least I have WDAY, NOW, and PFPT.
Stocktrader
Hi Stocktrader,
Good Move in booking profit.
Saleem
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