Indices closed mixed.
S&P 500 @ 2002.28, low 1994.85, high 2006.12
RSI @ 65.59
CMF @ 0.267
Internals were :
UP volume led by .88 to 1 in NYSE & 1.57 to 1 in Nasdaq
Advancing stocks led by .93 to 1 in NYSE & 1.46 to 1 in Nasdaq
Net new 52 wk highs were leading by 209 in NYSE & 98 in Nasdaq
VIX UP 2.25% @ 12.25
Oil @ $92.88
Gold @ $1265.00
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE continues its record run with S&P 500 @ new all time high while Nasdaq notched another 14 year high. Nasdaq big caps were the star of the day by showing impressive gains. Dow was the only laggard on record game. Looks like we had a minor flattish day today, but we may be setting UP for a strong day again. Strong stocks are running away towards new highs, giving hope for strength in the TAPE going forward. Internals remained positive for the most part. Calls for pullbacks are not happening.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Sold WDAY @ 89.636.
WDAY is obviously not a SPLK, and I shouldn't try to use it as a replacement at this point. WDAY's TAM is more penetrated, and they are having to spend to try and get into adjacent markets, markets where competition is greater. At their $16B valuation, they are really not an acquisition target, so that potential big upside is not available.
Stocktrader
Hi Stocktrader,
Rethink is necessary in fast changing business model.
Saleem
Hey Saleem,
Finally bought SPLK @ 56.537. This could test as low as $48-$50 again, but I'm taking my cues from the huge accumulation during the last two days, plus my belief in the longer term story. This could certainly be a $10B company again given the early stages of growth still...
Stocktrader
Hi Stocktrader,
Good luck with SPLK.
Saleem
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