Indices closed down.
S&P 500 @ 2064.47, low 2064.46, high 2083.29
RSI @ 49.89
CMF @ 0.130
Internals were :
Down volume led by 1.77 to 1 in NYSE & 2.75 to 1 in Nasdaq
Declining stocks led by 1.74 to 1 in NYSE & 2.43 to 1 in Nasdaq
Net new 52 wk highs were leading by 110 in NYSE & lows by 12 in Nasdaq
VIX UP 7.78% @ 14.69
Oil @ $46.23
Gold @ $1275.50
AH ER......SINA Down 3.87%, WB UP 3.51%
JACK UP 10.68%
NTES earnings report was a beat in Sales actual $1.228 billion vs expected $1.2 billion and huge beat in Q1 EPS Actual $3.12 vs expected $2.29, guidance for Q2 to be given @ conference call tonight @ 9PM.
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was sharply lower @ close ignoring oil being UP and US$ being down, both positive influence in past. TAPE was fixated on DIS & M and that is all that mattered. This TAPE lacks consistency now vs previous predictability based on oil & US$. Most Chinese internet earnings are positive which should give a boost to their share price on Thursday's trading.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteSold VRX @ 26.32
It is amazing how much I lost in just the three days I had to hold it. I should have gone with my original instinct that I don't know where the earnings will bottom out...
Stocktrader
Hi Stocktrader,
ReplyDeleteWe all face losses when thesis don't pan out, BIDU was a big winner on day after earnings went to $201...was looking for new highs. ..few days later it is @ $ 162.30...
Good luck with new pick.
Saleem
Hi Saleem,
ReplyDeleteYes, as long as the lesson is learned, there is a positive...
Sold FDX @ 161.31
Despite an attractive idea capturing e-commerce, they appear to be facing increasing competition from the likes Amazon and the US Postal Service. I am stepping to the sidelines for now.
Stocktrader
Hi Saleem,
ReplyDeleteI'm looking at FIT and TWTR as potential takeover candidates. Do you like either/both of those?
Stocktrader
Hi Saleem,
ReplyDeleteBought FIT @ 13.59
I think this trend towards health/fitness wearables is just in its infancy. FIT has the best brand recognition in the space, has optionality for takeover by a NKE or UA, and is finally cheap enough to find "value" investors. I'll give this a try as the majority of the other stocks I follow are seemingly near fair value, making it hard to generate returns.
Stocktrader
Hi Saleem,
ReplyDeleteBought DAL @ 40.93
I've been watching and waiting for a while to get back into airlines. Although I fear problems with overcapacity and the Zika virus, DAL is very well run and has its own refinery to mitigate some of the profit erosion from higher oil prices. Also, I think stocks with large buybacks should do well over the summer as normal trading gets lighter.
Portfolio: Z AMZN GM DAL MTH NXPI HUN FIT SPLK JKS
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with FIT & DAL.....
TWTR is my bet for takeover....
Saleem