Indices closed @ high of the day again.
S&P 500 @ 2050.03, high 2050.30, low 2022.71
RSI @ 53.48
CMF @ 0.140
Internals were :
UP volume led by 8.09 to 1 in NYSE & 4.90 to 1 in Nasdaq
Advancing stocks led by 4.02 to 1 in NYSE & 2.65 to 1 in Nasdaq
Net new 52 wk highs were leading by 166 in NYSE & 27 in Nasdaq
VIX Down 10.81% @ 17.33
Oil @ $53.05
Gold @ $1260.30
Stocks which were UP 2% or more included AKS GPRO TSL
FEYE SWIR QIHU YELP TWTR LNKD TSLA PCLN
HRPN NXPI WUBA COH LVS WYNN JKS CSIQ
SU FSLR SPWR YNDX SNDK BRCM AMCC
FNSR C NFLX M SPLK X STLD MGA Z
TRLA GS......
AH ER ..WYNN Down 4.36%, CMG Down 6.35%,
DIS UP 3.83%
AH Futures Mixed
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE closed on a strong note, all indices closed above 50 DMA. Today's rally was a confirmation of this uptrend by closing @ high of the day. Many sector came to life like Solar, steels & technology. Oil rally was sharp to break the downtrend cycle. Last two days rally had the feel of a very powerful TAPE, as all internals not only are positive, but "super strong". Technically we are looking good.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
Sold PANW @ 124.532.
These high growth stocks appear to be out of favor as sniffs of cyclical growth are coming out of Europe and stimulus in Asia is large.
Stocktrader
Oil is down!!
A Citi analyst said yesterday storage will run out, and the costs for storage will drive prices down.
OPEC cut production during the previous oil crash but not during this one.
Wish I'd been brave enough to buy ERY yesterday...
Europe is tough to figure. QE causes asset inflation (stocks to rise), but some say Europe is on the verge of a recession. And Greek debt is an incurable problem. European banks seem to need the official existence of the debt, but the Greeks could never hope to actually pay the debt. So, Greek debt is to be shuffled around, a disaster put off until later.
If you can make sense of how to predict Europe in the near term, you deserve to get rich from it.
Hey Saleem,
I feel like quite the fool selling all my key earnings plays and then watching them rise (see KSS today).
Bought YELP @ 56.60.
Stocktrader
Hey Saleem,
Bought GM @ 35.587 on great execution and huge dividend boost. Many managers were underweight auto stocks due to a "cycle peak" thesis, so this up move could have legs.
Stocktrader
Hi Stocktrader,
Good luck with GM & YELP.
Saleem
Hi Firebird,
Most of the economic events are mostly noise, one has to stay focused on investment thesis IF its relevant.
Saleem
Hey Saleem,
Bought ETN @ 68.418.
Great core execution muted only by currency effects. The stock is still cheap compared to industrial peers.
Stocktrader
Hi Stocktrader,
Uncle Jimmy likes it too....
Good luck with ETN.
Saleem
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