Indices closed UP near high of the day.
S&P 500 @ 2122.85, high 2129.89, low 2112.50
RSI @ 56.34
CMF @ -0.057
Internals were :
UP volume led by 1.99 to 1 in NYSE & 2.61 to 1 in Nasdaq
Advancing stocks led by 1.49 to 1 in NYSE & 1.78 to 1 in Nasdaq
Net new 52 wk highs were leading by 115 in NYSE & 182 in Nasdaq
VIX Down 8.74% @ 12.74
Oil @ $60.38
Gold @ $1184.10
Stocks which closed UP 1% or more included BBRY VDSI
FB LEN JKS SNDK C NFLX AAL STLD CSOD CNQ
MS GS AGU.....
In my portfolio :
Bought TWTR @ $35.60
Portfolio AKS BBRY GPRO LULU RAD SWIR TWTR
AH ER...SONC Down 5.64%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE got a boost from Greek effort to propose cuts in pension & hike in taxes which ECB & IMF was looking for, there is reasonable ground for striking a deal now, it may take several days to itemize each items for implementation & deadlines. Nasdaq is @ all time high again. We may get follow through in this run, but it is a chance to book profit. Stocks which have pulled back already are attractive buys.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Sold AAL @ 43.356 after a nice bounce from the lows.
Stocktrader
Hi Saleem,
Sold SPLK @ 73.25
Stocktrader
Hi Stocktrader,
Good move in selling AAL & SPLK.....
Market needs digestion of all the good news.
Saleem
Hi Saleem,
The craziest part about this market is that even if I assume a Greek resolution or deferment, I can't predict the direction of markets. Will a positive outcome drives rates up, forcing stocks (ex-financials) down? will the euro go up or down affecting many multi-national profits?
Last week was really good for the portfolio--it gained 2.12% versus smaller gains for the indices. This was despite low stock allocation late in the week. CSOD (+8.6%), MOMO (+4.9%), and SPLK (+4.4% even with a losing sell/buyback) were the big gainers. Only the sells of NXPI and HUN came with fractional losses. I ended the week with 56.7% cash and I have even more now.
The current portfolio is: PRU KSS GM AMBA WLH.
I am just waiting for something to stick out as a great buy--I'm just not seeing much I like currently...
Stocktrader
Hi Stocktrader,
Greece will be all resolved when we wake up this Friday, another uncertainty out of the way.
US$ will stay strong
Chinese economy will struggle
US stock market is the best place to be...
What happens in next 30 days, sideways to down, but $$$ will be made in selective trades....
Saleem
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