Tuesday, December 22, 2015

Indices closed UP .65% to .96%....NICE !!!!

Indices closed UP

 S&P 500 @ 2038.97, high 2042.74, low 2020.49

 RSI @ 47.39

 CMF @ -0.068

 Internals were :

 UP volume led by 5.48 to 1 in NYSE & 2.21 to 1 in Nasdaq

 Advancing stocks led by 3.22 to 1 in NYSE & 1.80 to 1 in Nasdaq

 Net new 52 wk lows were leading by 33 in NYSE & by 62 in Nasdaq

 VIX Down 11.23% @ 16.60

 Oil @ $36.14

 Gold @ $1074.10

 Stocks which were UP 1% or more included BBRY BITA
JCP TWTR BABA LULU COH LVS GPRO YHOO
LEN EXPE EBAY YELP AMCC AAL M STLD
X CCJ DATA MS VRX WYNN GS AGU.....

 AH ER...NKE UP 2.14%, MU Down 5.82%

 AH Futures Down

 AH Asian Markets Mixed

 AH Oil UP

 AH Gold Down

 About market, TAPE confirmed this UP move by closing near high of the day, Nasdaq closed above 200 DMA while S&P 500 & Dow are stuck below 50 & 200 DMA still, however all indices are maintaining golden cross. Market volume is getting lower daily due to holidays, i expect volume to slump considerably on Thursday being half day trading, Wednesday may be the last day of half decent volume for next week also. Time to plan your portfolio for pruning losses or buying into emerging themes for 2016.

 BLOG does NOT give buy or sell.

 Saleem
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11 comments:

  1. stocktrader_1996December 23, 2015 at 7:22 AM

    Hi Saleem,

    Sold AMZN @ 662.57

    I think I overstayed my welcome a bit here looking for a year end run. It may still have that run, but I think all the major buyers are already in, thereby limiting the upside.

    I'm trying to find something with more "juice" going forward as the market seems to be getting more comfortable with the rate hike and small caps have underperformed for two years.

    I'm looking at JKS, HUN, URI, AMBA, BAC, more WLH (only 1/2 position currently).

    Stocktrader

    ReplyDelete
  2. stocktrader_1996December 23, 2015 at 7:27 AM

    Hi Saleem,

    Bought some JKS @ 28.179

    My thoughts from yesterday still hold--surprisingly good chart and possible positive catalysts ahead as the Chinese continue to address their pollution problem. I also think about consolidation in the Chinese industry or one of those Chinese private buyouts as a potential surprise upsides.

    Stocktrader

    ReplyDelete
  3. stocktrader_1996December 23, 2015 at 7:33 AM

    Hi Saleem,

    Used the rest of my cash to buy BAC @ 17.16

    After resting, I think the financials can run for a while. BAC has one of the best charts in that group and has the biggest deposit base to capitalize on the Fed rate hikes.

    Stocktrader

    ReplyDelete
  4. Stocks100December 23, 2015 at 7:51 AM

    Hi Stocktrader,

    Good move with JKS and BAC.

    FB is stuck in the mud,spinning wheel.

    Saleem

    ReplyDelete
  5. UnknownDecember 23, 2015 at 7:54 AM

    Hi Stocktrader,

    URI was an excellent pick. I wish you had hold on to it. My FCX is also going up. Do you have any idea why the stock FCX is up?

    Thank you

    Joseph

    ReplyDelete
  6. stocktrader_1996December 23, 2015 at 7:56 AM

    Hi Saleem,

    I actually think the FB chart looks better than the AMZN one--might still stick with it. It is still hard to figure out what is good right now, seems like a lot changing this close to the end of the year...

    Stocktrader

    ReplyDelete
  7. stocktrader_1996December 23, 2015 at 7:57 AM

    Hi Joseph,

    Yes, I got caught up in the "sell the pop" mentality. My thesis on URI had not changed...I should have just left it alone.

    I almost bought FCX yesterday for my trading account. Improved conditions in commodities is really helping an FCX that was left for dead this year. The highly leveraged balance sheet gives it both great up- and down-side.

    Stocktrader

    ReplyDelete
  8. UnknownDecember 23, 2015 at 8:09 AM

    Thanks Stocktrader for your input. Yesterday,I had an order for RLYP. Unfortunately, it didn't come to my price. I am waiting for an opportunity.

    I also feel that we should get some oil stocks. It is time to rebound. At the same time we should be careful about the impact of Iran and Venezuela oil production that can really hit the oil prices further down.

    Good luck

    Joseph

    ReplyDelete
  9. Stocks100December 23, 2015 at 8:10 AM

    Hi Stocktrader,

    2016 could be a year of non-fang.

    FB I will keep as core position, will see how it performs along with NFLX. Hedge funds are pushing these two.

    AAPL has started it's reverse course.

    2016 should be different but interesting.

    Saleem

    ReplyDelete
  10. stocktrader_1996December 23, 2015 at 8:12 AM

    Hi Saleem,

    I really hope we'll see the year of small caps again as this fear of the Fed *finally* fades. We've seen underperformance of small caps since the start of 2014, almost 2 years. I definitely do best when small caps do better...I like to dig deep! :)

    Stocktrader

    ReplyDelete
  11. stocktrader_1996December 23, 2015 at 8:17 AM

    Hi Joseph,

    A Wedbush analyst raised his PT from $75 to $86 on RLYP yesterday, yet it still went down. I think the early launch of its drug Monday has people thinking a potential buyout is pushed off as management focuses on execution. I'm not sure that's necessarily true, but I believe it's what caused the declines on Mon/Tue. I like the stock at these levels regardless of a buyout or not, but might require more patience than the dramatic move we saw from the low 20s.

    Stocktrader

    ReplyDelete