Indices closed down.
S&P 500 @ 2102.31, low 2096.98, high 2114.59
RSI @ 66.94
CMF @ 0.241
Internals were :
Down volume led by 2.41 to 1 in NYSE & 1.23 to 1 in Nasdaq
Declining stocks led by 1.53 to 1 in NYSE & 1.01 to 1 in Nasdaq
Net new 52 wk highs were leading by 64 in NYSE & by 29 in Nasdaq
VIX UP 6.67% @ 15.51
Oil @ $46.32
Gold @ $1106.20
AH ER...FB UP 3.76%, QCOM Down 5.33%,
FEYE Down 14.15%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
Facebook ER was a beat on Sales & EPS, here are the numbers :
Q3 Sales expected $4.37 billion, actual Sales $4.501 billion
Q3 EPS expected 52 cents, actual EPS 57 cents
FB has over 1.01 billion daily users worldwide.
Mobile Ad revenue was strong UP 27% yoy
FB had a very good earnings report despite pundits saying FB always goes down after earnings and having trimmed their holding in FB, many technicians had FB as a short.Another example of not following so called experts.
About market, TAPE had slight consolidation after Fed chief talk of December rate hike, TAPE handled this remarkably well, considering we are @ lofty level, it speaks of the strength & buying support of this TAPE. Individual strong stocks are the story of this market, many are making all time highs, follow the strength.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
I knew FB is a good one to hold. I expected it to deliver a good report. I tried to buy it , but I never got. I will never short FB. I believe it has its potential to be a big winner.
Thanks for your daily market updates and your personal views about the market. I also thank stocktrader for his market views and stock picks.
GL
Hi Saleem,
Sold ORCL @ 40.57 to take profits as it approaches the 200 DMA here.
Stocktrader
Hi Stocktrader,
Booking profit is a good idea.
Saleem
Hi Joseph,
Thanks for your appreciation of my take on market and stocks.
Yes Stocktrader input is extremely helpful.
Saleem
Hi Saleem,
Sold FIT @ 36.96
The massive secondary is weighing too heavily right now. Although I think maybe we're on the cusp of a massive run higher after the secondary prices, I don't have a good feel for how much downside we might see before then. Earnings estimates for next year didn't rise as much as thought after that amazing quarter.
Stocktrader
Hi Joseph and Saleem,
Thanks for the kind words. I try to provide as much thought process as I can around my views/trades on particular stocks. Sometimes I'm on the correct side, and sometimes I'm not, but I hope it helps the discussion either way :)
Stocktrader
Hi Stocktrader,
Comfort level is extremely important no matter which stock is in play. FIT is waiting for pricing of secondary.
Saleem
Hi Stocktrader,
Added 20% CY @ $10.63
Saleem
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