Indices closed UP.
S&P 500 @ 1868.00, high 1889.85, low 1848.98
RSI @ 31.58
CMF @ -0.014
Internals were :
UP volume led by 2.17 to 1 in NYSE & 1.34 in Nasdaq
Advancing stocks led by 1.86 to 1 in NYSE & 1.17 to 1 in Nasdaq
Net new 52 wk lows were leading by 93 in NYSE & 114 in Nasdaq
VIX Down 3.26% @ 26.69
Oil @ $29.53
Gold @ $1098.20
Stocks which were UP 2% or more included BABA BIDU CNQ
FCX TCK JCP TWTR TSL MU FIT LULU CY VDSI COH
CSIQ FSLR SPWR SU M SBUX X ABX CCJ CSOD.....
AH ER...AXP Down 3.66%, SBUX Down 4.44%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE saw green all over for the first time, Nasdaq barely made into green which is not a strong vote of confidence. Internals were mixed. We need confirmation of this green close or we go back to extreme volatility again. Oil was strong but that strength was not visible in indices on the UP side. I believe strongly that strong stocks have better chance of growth than weaker ones. On Friday there is one closing BLOG only around 7 PM. Any trade i make is reported in a timely manner in comment section.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Sold TREE @ 72.32 to take profits.
Stocktrader
Hi Saleem,
Sold URI @ 58.25
Sold OMED @ 17.53
Sold SPLK @ 50.91
Taking profits when I can. Most of these are lacking catalysts right now and I think that's a problem in the current environment, but especially after nice bounces from the bottom. Currently around 64% invested with the sales.
Stocktrader
Hi Saleem,
Bought a speculative size in BBRY @ 7.01
Stocktrader
Hi Stocktrader,
Good luck with BBRY.
Nice move in booking profit $$$
Saleem
Hi Stocktrader,
Bought SBUX @ $58.81
Saleem
Hi Saleem,
Bought DKS @ 36.99
I think the stock has been beaten down immensely making it the cheapest in years on a P/E basis; I still see sporting goods as a major part of the US consumer spending, and the report of a competitor closing many stories should improve the landscape.
Stocktrader
Hi Saleem,
Good luck with SBUX.
I personally think the play is too crowded, the chart is sitting just above major support (good for now, but have a quick sell trigger), and valuation is too rich for a company whose primary product is coffee. They are getting a boost from China expansion right now, but I think ramped discretionary spending towards coffee drinks has peaked, especially from a US standpoint.
Stocktrader
Hi Stocktrader,
Good luck with DKS.
SBUX is expanding rapidly in China, India and Europe. Looks very solid for future growth.
My thesis is buy strength.
Saleem
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