Indices closed UP.
S&P 500 @ 2104.05, high 2106.20, low 2080.76
RSI @ 68.76
CMF @ 0.273
Internals were :
UP volume led by 5.44 to 1 in NYSE & 5.23 to 1 in Nasdaq
Advancing stocks led by 4.44 to 1 in NYSE & 3.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 72 in NYSE & 39 in Nasdaq
VIX Down 6.10% @ 14.15
Oil @ $46.14
Gold @ $1135.90
Stocks which closed UP 2% or more included CNQ LULU
JKS MU TWTR GPRO BIDU TSL FEYE VRX LVS
TSLA CSIQ EBAY YELP SPWR HIMX CRUS
LSCC FNSR QIHU AMBA X STLD DATA
CSOD Z WYNN AH FIT....
AH ER...SANM UP 10.16%, FIT Down 8.09%
FIT reported a huge beat and guide UP, but was eclipsed by
7 million secondary for corporate purposes including R&D.
Here are the results :
Q3 Sales expected $350.97 million, actual $409.3 million
EPS expected 10 cents, actual 24 cents
Guidance Q4 expected $580.72 million, guiding $620 to $650 million
Guidance expected EPS 20 cents, guiding 20 to 25 cents
gross margins went up from Q2 to Q3 is 48.3%
Guiding gross margin from 48% to 48.5% for 2015
All in all, the-best earning report for Q3 by any company.....FIT is definitely a strong hold stock, based on its strong international growth picture.
AH Futures Up
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was strong as European & UK economy showed robust pick up in economic activity. S&P 500 is ready to take out its all time highs as early as Tuesday, Nasdaq & Dow in few days. Market internals were super strong. It seems like we are reaching a blow off stage in market. Stay in strong stocks with good growth potential.
BLOG does NOT give buy or sell.
Saleem
15 comments:
Hi Stocktrader,
Added 30% FIT @ $38.86
Saleem
Hi Saleem,
Took profits in AAPL @ 122.014
Channel checks today by Pacific Crest indicate poor sell-through and inventory builds due to slower sales than expected. I think AAPL is probably up just on technicals but I fear an afternoon fade as the information moves through the street. I think it is probably fairly valued here so I'll look for a different opportunity despite the strong momentum AAPL has since earnings. I prefer to find a re-entry point for AMZN.
Stocktrader
Hi Saleem,
Good luck with more FIT. A spectacular quarter and guidance!
Stocktrader
Hi Saleem,
I've been tempted all morning in FIT. It feels like the "worst" has been priced in here and the massive short interest has to start covering soon as many were likely looking at the lockup as their short term catalyst. Although they might have a longer term catalyst of competitors eating them up, that thesis is not playing out yet at all and so risk for them remains.
Stocktrader
Hi Stocktrader,
Sorry a typo, paid $37.86.
Should be a good trade in FIT.
Saleem
Hi Saleem,
Sold AMBA @ 55.356 to take profits.
Honestly, I don't see how it can gain much traction ahead of its earnings early next month. I might be wrong, but I'll try to buy lower in coming days/weeks.
Stocktrader
Hi Stocktrader,
Good move with AAPL & AMBA.
Good luck with next pick.
Saleem
Hi Saleem,
Cash is rising in my account.
Portfolio: GM FDX ORCL RCL DHI
Cash: 40.2%
I have my eyes on AMZN LNKD BABA FIT DATA/SPLK KITE HUN MOS. I missed a great chance in MOS earlier today--just so hard for me to play that "trough earnings" game when I'm not extremely familiar with the company's earnings model.
Stocktrader
Hi Stocktrader,
When MOS is moving, it is OK to join the party, it may be a move of several days.
Saleem
Hi Saleem,
Sold RCL @ 95.67
Chart starting to get rough and NCLH's earnings today signal maybe some kind of pricing war ensuing as new capacity hits the market. It was a relatively new position for me and I'll step to the sidelines to evaluate further.
Stocktrader
Hi Saleem,
Bought FIT @ 38.28
Stocktrader
Hi Stocktrader,
Welcome to the world of FIT.
Saleem
hi stocktrader, do you know why amba is going higher today. I have a small position. thanks
Hi Joseph,
Traders are attributing it to a short squeeze and certainly all the drone news of late is helping (AMZN GOOGL etc). I think these guys are too excited about their business to actually agree to a sale to anyone, especially one that is below prices they traded at just this summer. I like the company fundamentally still, but just worry about Q3 numbers which are likely to be soft due to GPRO's inventory correction, but probably not as bad as GPRO's due to diversification in IP security cameras and heavy commercial drone interest.
I'm a bit sad I sold today, even with getting a nice run anyways--I did not expect this vicious of an upside move before they reported.
Stocktrader
Hi stocktrader,
Thanks for your informative post. I was losing money. But now I have some profit. I will wait for couple of days to see the trend.
Once again thanks for your input
joseph
Post a Comment