Indices closed @ high of the day in slow pre-holiday trade.
S&P 500 @ 2078.54, high 2078.76, low 2069.28
RSI @ 60.44
CMF @ 0.042
Internals were :
UP volume led by 1.31 to 1 in NYSE & 2.22 to 1 in Nasdaq
Advancing stocks led by 1.41 to 1 in NYSE & 1.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 172 in NYSE & 96 in Nasdaq
VIX Down 7.52% @ 15.25
Oil @ $55.26
Gold @ $1179.80
Stocks which were UP 1% or more included BBRY NXPI TSL
SWIR TWTR EXPE TSLA PCLN GOOGL AAPL FB
COH CSIQ AMZN CMG YUM SPWR CRUS
SNDK BRCM AMCC LSCC PANW M
GMCR SBUX TRIP......
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE has continued on its upward trajectory, S&P 500 closed @ new all time high. Indices are all set to further advance and make series of new highs. It is important to play the strength of this bull TAPE. Do not try to pick bottom in oil as it looks very shaky after falling so much, more pain to come as it will take time to stabilize. Position your portfolio with strong stocks as many are hitting all time highs.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
Bought AKS @ 5.82.
This looks like a good entry after their nice pre-announcement and tax loss selling lessening. It could be a candidate for upgrades early next year.
On another note, my speculation on OCN is really hurting. As usual, when I stray from my close coverage areas, I find myself getting burned a lot...
Stocktrader
Hi Stocktrader,
Good luck with AKS..
OCN is selling below 2012 prices..not looking good..
Saleem
Hey Saleem,
Sold OCN @ 13.66.
I just don't know what's happening enough to make a good judgment on whether it will rebound from here.
New lessons all the time...
Stocktrader
Hey Saleem,
Added to AKS @ 5.769.
I only had enough cash to make it a fairly small position before. This brings it up more in line with the FCX position.
Stocktrader
Hi Stocktrader,
Good move with OCN, when in doubt wise to sell..lesson we all learn everyday.
AKS should do well.
Saleem
Hey Saleem,
Sold PANW @ 125.128 to take profits.
The chart is telling me it is tired and the space has many competitive players.
Stocktrader
Hey Saleem,
Sold DATA @ 89.28 also to take profits.
This biotech selloff makes me nervous about the high beta big gainers on the year, especially in the light of extremely strong US data where cyclicals might be favored and fears of Fed rate hikes could dampen the "cheap money" plays.
Stocktrader
Hi Stocktrader,
Good move on DATA and PANW..profit is good.
Sold LULU @$55.05
Saleem
Hey Saleem,
Amazing call and run on LULU. You rocked it! :)
Stocktrader
Hi Stocktrader,
LULU was a classic example of conviction and patience, which I am doing more and more..but RSI still trumps everything for me.
Thanks for your comment.
Saleem
Post a Comment