Indices closed mixed.....
S&P 500 @ 2108.63, high 2110.48, low 2094.97
RSI 53.38
CMF @ 0.112
Internals were :
UP volume led by .77 to 1 in NYSE & 1.19 to 1 in Nasdaq
Advancing stocks led by 1.04 to 1 in NYSE & 1.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 10 in NYSE & lows by 14 in Nasdaq
VIX Down 2.96% @ 12.13
Oil @ $48.52
Gold @ $1088.70
AH ER... LNKD Down 4.80%, FEYE Down 5.42%
EXPE UP 8.49%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE showed its strength by closing mixed after two days of big gains, internals improved further. Reaction to similar earnings are treated totally different, why is it that way this Q, only gods of this market know. I expect TAPE to make further progress in a selective manner. Taking profit quickly is a good strategy.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
What do you think about LNKD here? Tricky guidance but they stand alone in business social.
Stocktrader
Hi Saleem,
Bought LNKD @ 208.15.
I figure the downside is limited here given the decline already, so the risk/reward seems favorable.
Stocktrader
Hi Saleem,
To expand upon LNKD, their best bet is to continue to buy companies to provide additional services. I'm not sure what they have currently is enough to propel the stock significantly higher, but using their current monopoly in business social to provide more and more services would be the key to doubling their market cap over time--$50B does not seem unreasonable given other social valuations.
Stocktrader
Hi Saleem,
Sold FB @ 95.64 to take profits.
I am very leery of any stock with too much positive sentiment and allocation. It seems they are getting hurt the worst.
Stocktrader
Hi Saleem,
Sold MS @ 39.054 for some of the same reasons as above in addition to the flattening of the yield curve.
Stocktrader
Hi Stocktrader,
Just got home.
Good luck with LNKD.
Booking profit works$$$$$$
Saleem
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