Wednesday, September 16, 2015

Indices closed UP .59% to .87%....NICE !!!!

Indices closed UP.

S&P 500 @ 1995.31, high 1997.26, low 1977.93

RSI @ 50.76

CMF @ -0.053

Internals were :

UP volume led by 9.24 to 1 in NYSE & 2.87 to 1 in Nasdaq

Advancing stocks led by 3.34 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new 52 wk lows were leading by 18 in NYSE & 1 in Nasdaq

VIX Down 5.28% @ 21.35

Oil @ $47.15

Gold @ $1119.00

Stocks which were UP 2% + CNQ FIT LULU TSL
NFLX YY BIDU TSLA BABA SWIR TWTR
LVS WYNN GPRO JKS CSIQ FSLR SU
SPWR SINA EXPE EBAY YNDX 
HIMX FNSR QIHU GMCR 
ABX SLW GG AEM
MGA......

AH ER..ORCL Down 1.38%

AH futures Down

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE continued its strong run by closing UP again and near high of the day. 2.15 PM we will get verdict of yes or no on interest rate going up. Many pundits are predicting that only interest rate will go up but we will see a sharp retracement in indices lasting several days, i wish i could buy into that reliable crystal ball. IF Fed increases rate by anticipated .25%, there will be usual yoyo movement after announcement, but by close or maximum Friday open upon rethink, we should be back on track for further move up in indices.

BLOG does NOT give buy or sell.

Saleem




13 comments:

Stocks100 said...

Hi Stocktrader,

Added 300% CNQ @ $20.96.

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with add-on.

I made a few moves myself this morning:

Sold LNKD @ 197.09
Sold AMBA @ 72.459
Sold FIT @ 38.73 avg.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good luck with your next move.

Saleem

stocktrader_1996 said...

Hi Saleem,

Sold PRU @ 80.91.

I'm setting up to sell the TZA hedge also. I'm probably going to stay pretty lean through the end of the month. Once the Fed gets out of the way here, I think the shift will turn to the upcoming budget debate which could have large implications.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good luck with your strategy.

Saleem

stocktrader_1996 said...

Hi Saleem,

Last night I listened to AMBA's session and read NXPI's transcript from their tech conference yesterday and I felt almost sad.

For AMBA, it does seem like competition is increasing and margins will drop over time. They definitely are exposed to some exciting new areas, and the stock has dropped a lot, so maybe this is priced in, but it doesn't have that "jump out of your seat" growth ahead of it anymore.

For NXPI, it seems there is an ongoing inventory correction in China which they hope clears by Q1 2016 as LTE builds ramp again. Also, they are facing an extra merger review from the US side due to their disposal of assets to a Chinese firm. This will delay the merger until Oct 10th at earliest, or into November at latest.

The general tone from these companies made me really think about my favorite companies, including those in the cloud which I've abandoned for now, and it seems across many industries that capacity and competition is finally significant. I don't know where the next earnings drive will come from, and that has made me sad about market prospects for now.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

I don't want to confuse the very short term though. I think stocks are still fairly underowned, so the pressure is still to the upside. It will take new negative catalysts to bring us lower.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Sometimes uncertainty and issues are already factored in price. NXPI got EU approval.

Saleem

stocktrader_1996 said...

Hi Saleem,

Yes, today was the EU deadline--good to clear that hurdle. The US and China ones remain although both should be good. More problematic is what they said about inventories in my opinion, but definitely a lot has been priced in already.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold half my TZA hedge @ 10.82.

Just executing on the plan. Long exposure small.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold the rest of my TZA @ 10.71

It is very hard to be bearish on equities with such a dovish Fed. They could easily be on hold the rest of the year.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good to revisit any thesis IF it doesn't work.

Saleem

stocktrader_1996 said...

Hi Saleem,

Bought FCX @ 12.12

Copper has just been so strong that maybe estimate rises are ahead.

Stocktrader