Indices closed UP.
S&P 500 @ 2109.79, high 2116.48, low 2097.51
RSI @ 69.66
CMF @ 0.299
Internals were :
UP volume led by 2.06 to 1 in NYSE & 1.76 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & 1.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 83 in NYSE & by 50 in Nasdaq
VIX UP 2.76% @ 14.54
Oil @ $47.90
Gold @ $1114.10
Stocks which were UP 1% or more included CNQ LULU
NFLX VDSI JCP MU BITA LNKD AAPL FEYE COH
NXPI SINA SU EBAY FFIV V CSIQ HIMX AMCC
AMBA GMCR ABX Z WYNN AGU YELP.....
AH ER.....TSLA UP 8.95%, GRPN Down 25.56%
AH Futures Mixed
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE was strong again and closed @ higher highs and getting ready to make new all time highs. Market internals remained strong which supports buying by new money in this TAPE. Stay with strong stocks as they keep going higher and making new highs. There is still more strength left in this TAPE, so stay with high exposure based on your own comfort level.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Bought WAFD @ 25.03 avg.
I was planning to buy KBE originally, but I thought I'd try and pick one of the better of the group to get a bit extra juice. I think regional banks will benefit from rising rates, increased loan demand, and consolidation in the next year.
Stocktrader
Hi Stocktrader,
Good luck with WAFD.
Saleem
Hi Saleem,
Bought POT @ 21.38
I've been waiting for a pullback in some kind of agriculture stock and I'll try my hand here. The dividend yield is 7.5%, wow! I know there is skepticism that the company can maintain this dividend, but the company addressed that affirmatively on the conference call. Additionally, with the further drop in stock prices in recent months, the consolidation chatter might start up again.
Stocktrader
Hi Stocktrader,
Good luck with POT.
Saleem
Hi Saleem,
Reluctantly bought BABA @ 84.96.
Chart looks constructive despite being overbought. Valuation is still very cheap after it handily and surprisingly beating earnings estimates last quarter. Honestly, I'm somewhat entering also because I missed the rebuy in AMZN. I think BABA has many of the same characteristics except earlier in the growth phase.
Stocktrader
Hi Stocktrader,
Good move with BABA.
In bull market it does not matter with price point.
Saleem
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