Tuesday, October 6, 2015

Indices closed mixed......

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:

Stocks100 said...

Hi Stocktrader,

Sold BIDU @ $148.50.

Saleem

stocktrader_1996 said...

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

Stocks100 said...

Hi Stocktrader,

Sold CNQ @ $23.59

Saleem

stocktrader_1996 said...

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

Stocks100 said...

Hi Stocktrader,

Bought FEYE @ $31.55

Good luck with LBIO & DHI.

Thanks for your comments.

Saleem

stocktrader_1996 said...

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

Stocks100 said...

Hi Stocktrader,

Good luck with XON.

Saleem

Stocks100 said...

Hi Stocktrader,

Bought BABA @ $64.97.

Saleem

stocktrader_1996 said...

Hi Saleem,

Sold TZA @ 47.45

The market has stabilized significantly and the need for the hedge has passed.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Welcome to the BABA train! :)

Stocktrader

stocktrader_1996 said...

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

stocktrader_1996 said...

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

Stocks100 said...

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