Indices closed UP.
S&P 500 @ 2083.58, high 2085.31, low 2051.99
RSI @ 57.28
CMF @ 0.128
Internals were :
UP volume led by 8.20 to 1 in NYSE & 2.97 to 1 in Nasdaq
Advancing stocks led by 3.19 to 1 in NYSE & 2.50 to 1 in Nasdaq
Net new 52 wk lows were leading by 60 in NYSE & 71 in Nasdaq
VIX Down 10.56% @ 16.85
Oil @ $40.75
Gold @ $1068.70
Stocks which were UP 2% or more included
CY FB LULU NFLX
BBRY JCP JKS MU BITA
TWTR BIDU AMZN AAPL TSL
FEYE VRX COH LEN NXPI TSLA
CSIQ SINA EXPE GOOG V ANTH YELP
FSLR SPWR YNDX HIMX CRUS AMCC LSCC
M SBUX X STLD ABX SLW GG AEM MGA Z TRIP....
AH ER...CRM UP 5.55%, CTRP UP 13.6%, GMCR UP 19.11%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Fed minutes majority consensus on December rate hike removes uncertainty about timing, market hates uncertainty, thus a major move UP in all indices. Indices closed near high of the day and internals improved big time. All indices are above 50 & 200 DMA which is a powerful technical set up. Stay with strong stocks as they are in overdrive and have more room to run.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Trimmed my overweight SWKS @ 78.45 for more RLYP @ 20.528.
That overweight I initiated earlier in the week has come up nearly $4 since purchase but the chart is still constrained as uncertainty weighs regarding iPhone sales and continued merger bidding war.
I have even more confidence in RLYP as the fundamentals become clearer as I research, and the chart is confirming the improved thesis. It is still my smallest position, but now just barely under DHI.
Stocktrader
Hi Saleem,
I've been warming to AAPL the last few weeks as I really think they have formed such a valuable ecosystem that once you get in, you can never leave, and more and more people are forced to enter. This should create massive lasting value that is underappreciated by the street's current valuation for the stock. Their immense offshore cash is likely to see favorable repatriation treatment at some point in the future, which is likely to result in a much higher buyback or dividend yield.
To some degree, my SWKS position is a play on this thesis, which I still think will work, and SWKS also has a leading position in IoT that drives more growth. I am discouraged by the disconnect (with AAPL) on days like today and I hope I don't miss out on my AAPL thesis as I really have no other room to buy something without compromising my diversification.
Just sharing some thoughts.
Stocktrader
Hi Stocktrader,
Good luck with more RYLP and less SWKS.
AAPL is a tough one it's Tape action is lethargic @ best.
Saleem
Hi Stocktrader,
Bought MU @ $16.20.
I meant RLYP.
Saleem
Hi Saleem,
Good luck with MU. I think that stock looks interesting here.
Stocktrader
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