Indices closed mixed.
S&P 500 @ 2095.15, high 2099.89, low 2082.31
RSI @ 63.68
CMF @ 0.137
Internals were :
UP volume led by 3.24 to 1 in NYSE & 1.36 to 1 in Nasdaq
Advancing stocks led by 2.40 to 1 in NYSE & 1.14 to 1 in Nasdaq
Net new 52 wk highs were leading by 121 in NYSE & 63 in Nasdaq
VIX Down 1.36% @ 13.77
Oil @ $45.33
Gold @ $1250.40
AH ER...FB UP 9.1%, FSLR Down 2.95%
OTEX Down 8.59%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Indices closed near high of the day. Fed statement was bullish for the market, stocks moved towards high of the day after their statement. Internals were strong. FB earnings report was stellar and breaks away from dismal tech reporting, should be good for tech stocks on Thursday's trading. Do not forget to book profit as you go along.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Stocktrader,
Added 30 % TWTR @ $14.72
Saleem
Hi Saleem,
I am also looking at TWTR for purchase some time in the next month--good luck with your add!
I have been thinking about trimming WLH based on what I felt was a shift towards the entry-level homes, which is not really in WLH's portfolio mix right now (and because it had gotten so large compared to my usual position size). I waited because it is still cheap and execution was finally good for the first time last quarter. Today, MTH had some scary things to say about west coast housing and WLH is getting hurt badly, justifiably so in my opinion. I should have followed my gut, although the amount I would have trimmed would only be saving me 0.2% of the whole portfolio right now, so it's not a huge deal.
In the overall market, many good performers look tired again. I think it may be time for another rest period in the market, especially as we are likely to start hearing the "Sell in May" mantra.
Stocktrader
Hi Saleem,
Sold BAC @ 15.05
Their quarterly results were not overly impressive and I think $15 may be a sticky price for now without many catalysts.
Stocktrader
Hi Stocktrader,
Yes..market may need rest soon...rsi 70 may be the trigger.
Pullback may not be that extreme ....3% maybe
Good luck with new ideas & WLH decision
Saleem
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