Indices closed UP.
S&P 500 @ 2066.66, high 2067.33, low 2043.09
RSI @ 63.61
CMF @ 0.324
Internals were :
UP volume led by 3.23 to 1 in NYSE & 4.57 to 1 in Nasdaq
Advancing stocks led by 3.11 to 1 in NYSE & 2.54 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 22 in Nasdaq
VIX Down 8.63% @ 14.09
Oil @ $37.75
Gold @ $1223.80
Stocks UP 2% or more included CNQ FEYE JKS NTES
LNG PANW NXPI SPLK AMZN TSLA SINA DNKN
SU EBAY WB YELP UA CSOD VRX TRIP MLNX..
AH News...BBBY UP 4.49%, VRX UP 4.92%
MGA Down 11.61%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE started weak but built momentum after dissection of Fed minutes and closed @ high of the day. Internals were strong. This TAPE is definitely unpredictable, when it looks as if it is losing momentum, it charges higher. Many new sectors are trending UP but with sharp pullbacks. Trade winning names as they swing in a defined range.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Sold yesterday on general market fears...always the risk: RLYP.
Stocktrader
Hi Stocktrader,
What a bummer....
Saleem
Hi stocktrader,
I have 1500 shares of RLYP. Thanks for your pick. I didn't buy more when it went down. Now I am with a good profit. what do you think? should I sell it or hold on to it. I wish you also had hold on to your shares.
My blog password is revoked. I had to create a new one.
Joseph
Hi Joseph,
Nice job on the conviction! I tried to get too tricky and sell/buyback lower even though if you would have asked me, the fair value was clearly higher than $14.25.
The company Relypsa exists only as a buyout candidate (it really can't ultimately stand alone), so it was only a matter of price and time.
I guess I'd suggest to just hold on. It is likely all the offers just went up today. An alternate scenario would be to sell a portion on today's massive gain.
Nice job and good luck! :)
Stocktrader
Hi stocktrader,
To be honest with you, it was your conviction that made me to buy it. I could see your confidence even in your last comment when you sold it the other day. I intend to sell half of my position to be at a safer place.
Once again thanks a million.
Joseph
Hi Stocktrader,
Added 25% CNQ @ $25.85
Saleem
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