Indices closed in record territory again after US economic data was strong.
S&P 500 @ 2000.02, high 2005.04, low 1998.59
RSI @ 66.15
CMF @ 0.106
Internals were :
UP volume led by 2.00 to 1 in NYSE & 1.89 to 1 in Nasdaq
Advancing stocks led by 1.96 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new 52 wk highs were leading by 171 in NYSE & 67 in Nasdaq
VIX @ 11.63
Oil @ $93.86
Gold @ $1285.20
Stocks which were UP 1% or more included ECO FB LULU
SWIR GTAT GG YY TWTR LNKD KORS GRPN
WUBA AMZN CMG EBAY FFIV BSFT AMCC
LSCC CIEN JDSU FNSR JCP PANW GMCR
SPLK X STLD ABX SLW AEM DATA
CSOD WLT TRLA Z AGU MLNX....
AH ER ARUN UP 4.2%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, Dow, S&P 500 & Nasdaq all are into record territory. Smart thing to do @ this stage is to book profit & wait for better entry in your favorite stocks. We may be hitting 70 RSI in a hurry, which could be an overbought situation. Tone of the market is pretty good which entails more gains as we go along. Rotation is a good approach in this ongoing bull TAPE, as some stocks are not overbought.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Did that fertilizer swap today: sold POT @ 35.223 for AGU @ 94.114.
Stocktrader
Hi Stocktrader,
Good move.
Saleem
Hey Saleem,
Added to JKS @ 29.296.
This addition brings it inline with my other smaller positions instead of speculative size near SRPT. I think the headline flow from this point is very skewed positive given how poor the first half was for Chinese installations. If the government is serious about getting to 13 GB from the 3 GB in the first half, there needs to be a massive push in the second half which could push up module prices and definitely will push up volumes.
Stocktrader
Hi Stocktrader,
Good luck with your thesis and JKS.
I find Chinese Solar companies extremely contradictory of business environment.
YGE results and guidance speaks volume.
Saleem
Post a Comment