Indices closed mixed.
S&P 500 @ 1979.92, low 1971.92, high 1991.62
RSI @ 53.96
CMF @ 0.072
Internals were :
UP volume led by 1.51 to 1 in NYSE & .85 to 1 in Nasdaq
Advancing stocks led by 1.24 to 1 in NYSE & .79 to 1 in Nasdaq
Net new 52 wk highs were leading by 11 in NYSE & lows by 8 in Nasdaq
VIX Down .72% @ 19.40
Oil @ $48.53
Gold @ $1146.40
Stocks which closed green included CNQ LULU VDSI
AMBA YY TSL MU LVS WYNN GPRO JKS FSLR
SPWR SU SNDK AMCC LSCC CY GMCR MCD
X ABX SLW GG AEM CCJ Z AGU......
AH ER..ADBE Down 3.11%, YUM Down 18.35%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, All indices made higher highs and Dow closed above 50 DMA. After hour earnings reports are on the weak side especially YUM which may raise Chinese growth issue. Any weakness is a buying opportunity and may not last too long. Oil & Gold are getting bid in this environment. Stay the course, we are heading in the right direction.
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hi Stocktrader,
Sold BIDU @ $148.50.
Saleem
Hi Saleem,
Huge gain on BIDU recently--very nice!
Bought LBIO @ 5.88
Biotech seems to be bottoming and these guys have a $2+ cash pile making the core business very cheap for an emerging cancer technology.
Stocktrader
Hi Stocktrader,
Sold CNQ @ $23.59
Saleem
Hi Saleem,
Such nice moves many of those companies have made--congrats!
Bought DHI @ 30.10
I still think housing has a long way to go as rental rates continue to rise but mortgage rates remain low.
Stocktrader
Hi Stocktrader,
Bought FEYE @ $31.55
Good luck with LBIO & DHI.
Thanks for your comments.
Saleem
Hi Saleem,
Bought XON @ 31.787
Another speculative position size (LBIO too) to add to my biotech exposure. It really looks like that sector has bottomed.
Stocktrader
Hi Stocktrader,
Good luck with XON.
Saleem
Hi Stocktrader,
Bought BABA @ $64.97.
Saleem
Hi Saleem,
Sold TZA @ 47.45
The market has stabilized significantly and the need for the hedge has passed.
Stocktrader
Hi Saleem,
Welcome to the BABA train! :)
Stocktrader
Hi Saleem,
Bought PRU @ 77.30
Adding to my financials exposure as I feel they should be higher given the rebound in the market and the much improved stability in debt markets.
Stocktrader
Hi Saleem,
Reviewing the comments I missed your earlier buy of FEYE. They are one of my least favorite cybersecurity stocks, but they could be most ripe for short squeeze or takeover potential. They really don't do anything well, they just do most things decently. They are also well behind their peers in monetization.
In general I think the security space is very crowded considering it is just a niche, albeit very important, in the software space. If pressed, I'd choose CYBR or SPLK first, with CYBR having no true competitors currently and SPLK being ~30% security but gaining market share due to real-time analysis instead of "firewall" protection.
Stocktrader
Hi Stocktrader,
Thanks for your comment re FEYE, as you know my strategy well, i generally buy when stocks are washed out FEYE fits that bill perfect, i do not have love affair with any stock, IF they can make money for me, i am all for it.
Good luck with PRU.
Saleem
Post a Comment