Indices closed @ high of the day.
S&P 500 @ 2088.48, high 2088.53, low 2069.98
RSI @ 60.17
CMF @ 0.204
Internals were :
UP volume led by 5.46 to 1 in NYSE & 3.02 to 1 in Nasdaq
Advancing stocks led by 3.56 to 1 in NYSE & 2.43 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 104 in Nasdaq
VIX Down 9.55% @ 15.34
Oil @ $52.21
Gold @ $1220.70
Stocks which were UP 2% or more included AKS MU
VDSI FEYE SWIR LEN GG YELP YHOO PCLN
LVS WYNN JKS CSIQ SU EXPE SPWR
YNDX SNDK BRCM FNSR C SPLK
X STLD AEM MA TRLA Z TRIP.....
Added 20% BBRY @ $9.87
AH ER CYBR UP 18.52%, ZNGA Down 14.29%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, tonight IBD saying that "market in confirmed uptrend". TAPE celebrated one major military and economic tension almost gone in Ukraine. Greece is on the verge of making the deal with Germany. Monday could bring that announcement. Monday could be a positive day in Europe, but Canada & US are closed on Monday.S&P is all set to take out all time highs which is only 5 points away. We are looking @ few more days of strong momentum. Cyber security stocks are flying.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteSold TTPH @ 34.658.
I made a small profit on it this week (although missed booking a big gain yesterday), and I feel like the tide is turning against biotech. With their huge outperformance in the past year, new attacks in both pricing and patents, and the money flow toward cyclical industries, I feel like there is more risk than reward currently. I'll look to re-enter at lower levels.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood move with TTPH..profit is a profit.
Added 20% AKS @ $4.56.
Cannot write in real time due to tablet issue with BLOG.
Saleem
Hey Saleem,
ReplyDeleteThat's ok, I know your limitations right now--I hope you get it worked out eventually!
I feel pretty good with what I've done this week--good diversification and mostly sector leaders :)
Stocktrader
Hi Stocktrader,
ReplyDeleteYES..you have outperformed averages by a mile this week, it is all about your due diligence, hardwork & rethink.
Saleem
Hey Saleem,
ReplyDeleteSold X @ 26.48 to take profits. This is using my brain instead of the charts, but I couldn't handle the fact that the steel price keeps dropping despite the gains in the stocks.
Stocktrader
Hi Stocktrader,
ReplyDeleteUsing brain is always desirable.
Profit is profit $$$$$$
Saleem
Hey Saleem,
ReplyDeleteUnfortunately I find that my brain tricks me into missing bigger profits most times. In this case, I bought for a semi-trade thesis anyways, and without the commodity rise to support, I feel ok with selling on the ~15% move since purchase last week.
It's good to have a bit of cash after the market shot straight to the all-time high anyways. I hope I can identify another opportunity if we retrace or churn here, although really the future looks great--it might not wait for me!
Stocktrader
Hey Saleem,
ReplyDeleteI am highly tempted by GPRO here. With the well-publicized lockup on Tuesday, I feel like the downside is limited now, and often we get a big pop immediately if major sellers don't materialize.
Stocktrader
Hey Saleem,
ReplyDeleteActually, did buy a half position @ 45.19.
Stocktrader
Hi Stocktrader,
ReplyDeleteWelcome to GPRO club and be a hero eventually......
15% in 5 business days in X is picture perfect....
Saleem