Indices closed UP.
S&P 500 @ 1989.26, high 1992.69, low 1979.84
RSI @ 59.55
CMF @ 0.281
Internals were :
UP volume led by 1.99 to 1 in NYSE & 1.62 to 1 in Nasdaq
Advancing stocks led by 2.33 to 1 in NYSE & 1.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 115 in NYSE & 0 in Nasdaq
VIX Down 1.77% @ 18.34
Oil @ $38.29
Gold @ $1257.40
Stocks which were UP 2% or more included
ABX BIDU CNQ JKS MSFT NTES QRVO
SPLK SPWR LVS LNKD TSLA FSLR
AMCC CIEN AMBA AAL MGA
VRX......
AH ER..... BOX UP 12.22%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE closed UP near high of the day as oil closed UP sharply. Internals were positive all over. ECB takes centre stage with Mario Draghi setting new stimulus program, ECB may push US market into overdrive, good spot to book some gains. RSI in mid 60 brings some selling for a day or so. Oil & Gold continues to look strong even @ this stage.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hi Stocktrader,
Added 30% JKS @ $23.73.
Saleem
Hi Saleem,
I like the add on CSIQ's weakness. JKS has proven to be a better executor at this time.
Stocktrader
Hi Stocktrader,
So far JKS is the only solar company which has guided higher for 2016, hopefully JKS will be rewarded soon with much higher prices.
Saleem
Hi Saleem,
Sold TMF @ 91.75
I really think oil has bottomed which could rekindle inflation expectations.
It also frees up cash for another position.
Stocktrader
Hi Stocktrader,
Good luck with next pick.
Saleem
Hi Saleem,
Bought MET @ 42.73
As interest rates normalize and the equity market remains firm, insurers stand to benefit nicely. MET specifically is also aggressively pursuing the removal of their SIFI designation through asset sales and litigation which could be a major positive catalyst at some point.
Stocktrader
Hi Stocktrader,
Good luck with MET.
Saleem
Hi Stocktrader,
Sold CTSH @ $54.98
Saleem
Hi Saleem,
Good luck with your next pick!
The market is difficult here, but it still strikes me that "bad" oil news is not hitting the oil price anymore. I wish I was brave/knowledgeable enough to buy an actual oil stock, but I haven't been following the price action nor fundamental stories well enough on individual companies to make an informed choice. I still think financials are a decent, albeit tangential, way to play oil due to less bad debts and higher interest rates from inflation expectations rising.
Stocktrader
Hi Stocktrader,
We have the same thesis but different strategy as per benefit of higher oil.
Saleem
Post a Comment