TAPE is strong today & near high of the day on lessening of tensions in hot spot.
S&P 500 @ 1970.18, high 1971.99, low 1958.36
Internals are positive by minimum 2 to 1
Oil Down 87 cents
Gold Down $5.60
Canadian $ UP 1 tick @ 91.17
VIX Down 5.40% @ 12.44
Portfolio EGO FB LULU MU RAD SWIR
Most stocks are UP
@ 2.32 following are red :
RAD GG TSLA KOG JKS SU ONVO INVN
AMCC ABX AEM LNKD WLT TRLA
Z.......
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
Sold DRYS @ 3.25 after a nice run. I don't trust the long term story enough to stay involved quite yet.
Stocktrader
Hi Stocktrader,
Good move in booking profit.
Saleem
Hey Saleem,
CMI is acting particularly poorly given it is an industrial leader and beat and raised estimates last month. You would think it would have participated in last week's rally and done better today on the relief. I'm confused on this one and wonder if it's indicative of broader problems in industrials. Any thoughts?
Stocktrader
Hi Stocktrader,
CMI depends on China for its growth .....
Due to slow growth in China it may be taking a pause...IF your conviction is high then stay with it or else rotate into something like AAPL which has immediate catalyst.
Saleem
Hey Saleem,
Sold ETN @ 68.834 to reduce exposure to multinationals after a good run last week and today.
Stocktrader
Hi Stocktrader,
Good move in booking profit in ETN.
Saleem
Hey Saleem,
Sold GM @ 34.404 right at close.
I'm trying to trim stocks that may have just rebounded along with the market but earnings were questionable.
Here's a news story from today:
13:01 EDT GM theflyonthewall.com:
Ford, Chevrolet launching incentives earlier than usual, Autmotive News says
Ford (F) and GM's (GM) Chevrolet are launching late summer incentives earlier than usual this year, according to Automotive News. The two brands are offering 0% financing for 72 months on many of their vehicles, with Chevrolet adding 90 days of payment deferrals, the website stated. Reference Link :theflyonthewall.com
Stocktrader
Hey Saleem,
I'm at 28.3% cash now (71.7% invested), which I think is where I'm more comfortable based on running into chart resistance and lingering world problems.
Stocktrader
Hi Stocktrader,
Good to Have high comfort level.
Saleem
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