Tuesday, March 29, 2016

Indices closed UP .56% to 1.67%.....NICE !!!!

Indices closed UP.

S&P 500 @ 2055.01, high 2055.91, low 2028.31

RSI @ 67.69

CMF @ 0.466

Internals were :

UP volume led by 2.70 to 1 in NYSE & 3.55 to 1 in Nasdaq

Advancing stocks led by 4.12 to 1 in NYSE & 2.87 to 1 in Nasdaq

Net new 52 wk highs were leading by 199 in NYSE & 23 in Nasdaq

VIX Down 9.32% @ 13.82

Oil @ $38.28

Gold @ $1237.50

Stocks which were UP 3% or more included ABX JKS QRVO
SPLK GG LEN CSIQ YHOO YELP CRUS CIEN AMBA
LRCX SLW AEM DATA SWIR ZG TRIP......

In my portfolio :

Sold BIDU @ $188.50

Portfolio ABX CMG JKS MSFT NTES JCP QRVO SBUX TWTR V

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was very strong and closed @ high of the day, Fed chief Janet Yellen gave a very balanced view of world economy and its challenges, also affirmed its willingness to raise interest rates gradually, nothing is imminent.Internals were strong and positive all over. Booking profit @ this stage is not a bad idea. VIX is getting near low and RSI near high, both reliable indicator of TAPE getting frothy. Was busy with some chores, came too late for 2.30 BLOG..

BLOG does NOT give buy or sell.

Saleem

7 comments:

Stocks100 said...

Hi Stocktrader,

Added 100% ABX in pre market @ $13.88.

Saleem

stocktrader_1996 said...

Hi Saleem,

Sold SPLK @ 49.57 to take profits.

I may do other selling today also.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Good luck with the ABX. I think we may be at peak dovishness from the Fed, so I am opposed to a gold purchase here. I think the dollar moves higher from here.

Sold FB @ 115.77 to take profits.

I messed up this sell as I was planning to do a 116.37 limit order (which would have just filled) but did a market sell instead (oops!). It's not a big deal--the stock has been great for me.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold RLYP @ 13.95

Took an opportunity to sell on a bounce as this year has been so difficult for this stock. They are stuck in the rut of a bad biotech/drug environment squashing acquisitions, and they are burning cash fast to rush a launch ahead of a potential competitor. In a different time, this would still be at $28, not $14.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Sold QRVO $51.26.

Saleem

stocktrader_1996 said...

Hi Saleem,

Nice gains on many stocks, good to take some profits. I considered selling NXPI also today but felt the earnings could support further gain--we'll see if that is actually true lol...

Stocktrader

Stocks100 said...


Hi Stocktrader,

It is always nice to book gains, especially @ these level.

NXPI has performed better than most semis.

Saleem