Indices closed UP.
S&P 500 @ 1951.70, high 1951.83, low 1925.41
RSI @ 56.84
CMF @ 0.269
Internals were :
UP volume led by 2.93 to 1 in NYSE & 2.54 to 1 in Nasdaq
Advancing stocks led by 2.89 to 1 in NYSE & 1.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & lows by 19 in Nasdaq
VIX Down 7.77% @ 19.11
Oil @ $33.07
Gold @ $1238.80
Stocks which were UP 1% or more CTSH FB MSFT SBUX V
COH LVS WYNN LNKD LEN NXPI NFLX TSLA SU
YHOO FFIV MA YELP FSLR CRUS PANW SPLK
LRCX FEYE AAL M MCD UA AEM DATA
SWIR CSOD MGA ORCL MS VRX ZG
GS AGU TRIP.....
AH ER...BIDU UP 10.81%, SPLK UP 13.81%
PANW UP 4.78% +9.65% pre release
BIDU earning report was a beat on Sales and huge beat on EPS by 1.57 billion yuan, expectation was 2.2 billion yuan, actual EPS 3.87 billion yuan, guidance is in line.
AH futures Mixed
AH Asian Market Mixed
AH Oil & Gold Down
About market, TAPE followed oil closely from open to close and closed @ high of the day. Internals were strong and S&P 500 closed above much feared 1950 area.S&P 500 also closed above 50 DMA, first index to accomplish. TAPE has become healthy as it defied Shanghai 6%++ slump. Stay with conviction in strong stocks, there is more gains to come.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Amazing numbers again out of SPLK!
I was going back and looking at how I wanted to get back into SPLK at various times during this crash and it always stayed a few $ above my "no-brainer" entry. It hit $29.85 when I was looking for $28s; it hit $33.77 when I was looking for $32s. Now it is up 50% in two weeks and I'm still sitting on the sidelines. Granted I bought TREE and FB at various times when SPLK was in consideration and those have made me good money, but I'm disappointed I never got back into my favorite new software play.
Looking for the next play! (as I find myself with too much cash for my bullish market stance)
Stocktrader
Hi Stocktrader,
Sometimes these things happen, regroup and buy which makes sense to you.
Good luck!
Saleem
Hi Stocktrader,
Bought ABX @ $ 13.40.
Saleem
Hi Saleem,
Good luck with the gold positioning.
Rebought RLYP @ 14.83
I think the potential for catalysts skews positively now, and will take this extreme negative sentiment chance to rebuy. There is no doubt challenges remain, but longer term is still well positioned. I was hoping for followthrough negative action today (and we did get that briefly), but the positive tone of the market works to help them in multiple ways, so I don't think my bigger downside targets are realistic.
Stocktrader
Hi Stocktrader,
RLYP is deeply oversold and heavily shorted,thus a strong reversal today.
Good luck with your favorite stock!
Saleem
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