Thursday, May 5, 2016

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2050.63, low 2045.77, high 2060.23

RSI @ 44.74

CMF @ 0.120

Internals were :

Down volume led by 1.40 to 1 in NYSE & 1.19 to 1 in Nasdaq

Declining stocks led by 1.10 to 1 in NYSE & 1.75 to 1 in Nasdaq

Net new 52 wk highs were leading by 130 in NYSE & lows by 17 in Nasdaq

VIX Down .87% @ 15.91

Oil @ $44.32

Gold @ $1274.30

Stocks which closed green included CMG NTES
ABX NXPI GOOG QRVO YHOO SINA WB
BABA SLW GG AEM DATA CSOD....

AH News...   YELP UP 9.01%, WYNN UP 2.01%
                    GPRO Down 5.14%, FEYE Down 9.26%

FEYE earnings report was a miss on Sales and guidance for Sales
fell well short of expectations.

In my portfolio :

Sold FEYE AH @ $14.75

Added 40% BIDU AH @ $174.50

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was mixed ahead of jobs report, like every jobs report, this is end all & be all, not so, just another number pundits like to create panic or read too much into it. I expect jobs report to exceed 200,000, which should be acceptable to all the chicken traders. Expect green close on Friday after all pundits give a sigh of relief to jobs number. There is a closing BLOG around 7 PM on Friday's.

BLOG does NOT give buy or sell.

Saleem

3 comments:

stocktrader_1996 said...

Hi Saleem,

I like Z after this pullback. It really looks like fundamentals have turned for the positive and many have been on the wrong side of the trade. I'm considering selling something to swap into it under $26.50 here.
Stocktrader

stocktrader_1996 said...

Hi Saleem,

Swapped ORCL @ 39.23 for Z @ 26.44

I think ORCL might be stuck with its large cap "old tech" peers while Z has upside based on turning fundamentals and persistent negative sentiment.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good move with z.

Saleem