Indices staged an oversold bounce by closing UP.
S&P 500 @ 2063.11, high 2074.28, low 2056.32
RSI @ 37.67
CMF @ -0.223
Internals were :
UP volume led by 1.18 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by 1.55 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk lows were leading by 215 in NYSE & 78 in Nasdaq
VIX Down 3.29% @ 18.23
Oil @ $59.47
Gold @ $1171.80
Stocks which were UP 1% or more included
SWIR TWTR VDSI VIPS
AMBA BITA FEYE YY YELP
LNKD TSLA PCLN BABA WUBA LVS
JKS CSIQ EXPE EBAY MA YNDX CRUS OTEX
NFLX SPLK DATA MS BRCM WYNN AGU TRIP...
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was sluggish today and barely closed UP. Internals remained extremely weak. Tonight IBD is changing its market outlook to " market uptrend under pressure". While market is indecisive, it is prudent to add good stocks in your portfolio, i pruned all the laggards and added to strength or stocks with better prospects. We should work our way higher gradually.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
It's been a wild week so far, including what looks like today. For last week, I ended very flat (-0.0038%) in a slightly down market week with AAL and WLH the big winners, and GM and SPLK the big losers.
Portfolio:
Primary holdings (8.4%-7.5%): KSS MOS DAL SPLK CSOD NXPI GM
Speculative holdings (5.7%-2.9%): AMBA WLH NEFF OMED JMEI NOAH MOMO
Cash: 12.6%
I almost bought some financials back into the selloff close last night. I guess I should have... I am probably saving the remaining cash position for buying back the financials exposure (C/PRU) that I sold earlier in the week. It definitely seems like the US economy has some good underpinnings right now.
Stocktrader
Hi Saleem,
Bought PRU @ 89.02.
Stocktrader
Hi Saleem,
Had about a half position left and bought C @ 55.58.
Stocktrader
Hi Stocktrader,
Good luck with PRU & C.
Your week was way better than me, mine was a loss of 4.7%.....2015 worst performance for the week.
Saleem
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