Indices closed UP.
S&P 500 @ 2102.40, high 2111.05, low 2096.32
RSI @ 68.24
CMF @ 0.130
Internals were :
UP volume led by 1.65 to 1 in NYSE & 1.53 to 1 in Nasdaq
Advancing stocks led by 1.32 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 133 in NYSE & 55 in Nasdaq
VIX UP .30% @ 13.28
Oil @ $44.18
Gold @ $1254.40
Stocks which were UP 1% or more included JKS QRVO TWTR
CTRP LNG NXPI SPLK SPWR COH LNKD LEN NFLX
TSLA CSIQ YHOO EBAY FFIV SSYS WB BABA
YELP FSLR SLW DATA MGA MS ZG GS
MLNX.....
AH ER...LVS Down 5.71%, CTXS UP 3.94%
NOW UP 8.15%, YUM UP 3.99%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE remained in major bullish mode and is sitting @ 9 month high.Higher highs are the name of this TAPE. There are plenty of skeptics about this move who are looking @ 2008 for clues on the downside. Only strong bull market make higher highs on a daily basis. Oil is showing an amazing strength and keeps making higher highs also. When bears wake UP, then we may have a blowout upside, for now its very orderly.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Contrary to the comments I made last night about URI (and so far, so good!), I think GM could fade back some. Given their nice beat, I think only maintaining full year guidance might show some nervousness with respect to the rest of the year. The execution continues to be fantastic, however.
I'll know more about both these companies after their conference calls today, but those were my initial takes.
Stocktrader
Hi Stocktrader,
Yes URI is listening to you and hopefully GM doesn't.
Saleem
Hi Stocktrader,
Sold ABX @ $16.55.
Saleem
Hi Stocktrader,
Sold CNQ @ $30.45
Saleem
Hi Saleem,
Great profits again for you!
As for my conference calls:
GM went as expected--challenging markets around the world still but they are making adjustments as they can. Their stock appreciation is really just a product of great management--the car business is not great right now despite the relatively high sales numbers currently.
URI also as expected--1st quarter was rough, but signs of pickup. They were even able to say Feb and Mar were increasingly sequentially better than Jan. They also called a trough in a multi-year cycle of supply/demand in rental equipment, which if true, could give upside to the stock to $100 over time in my opinion.
Stocktrader
Hi Stocktrader,
Thanks for your cc updates.
Good luck with GM & URI.
Saleem
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