Indices closed UP.
S&P 500 @ 2070.77, high 2073.13, low 2042.69
RSI @ 49.52
CMF @ 0.046
Internals were :
UP volume led by 9.63 to 1 in NYSE & 4.75 to 1 in Nasdaq
Advancing stocks led by 6.09 to 1 in NYSE & 3.78 to 1 in Nasdaq
Net new 52 wk highs were leading by 312 in NYSE & 11 in Nasdaq
VIX Down 11.25% @ 16.64
Oil @ $49.88
Gold @ $1326.90
Stocks which were UP 3% or more included
CNQ CMG NTES SBUX UA
LNG PANW SPLK SPWR QRVO
COH NFLX TSLA CHK TK SSYS RIG
FEYE YELP FSLR AAL TCK SLW CSOD
MGA ORCL ZG WYNN TRIP......
AH ER...PIR Down 6.07%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE had another strong day and closed near high of the day, internals were strong all over.Gold had the highest close since July 2014, almost 2 year high. S&P 500 & Dow are staring @ 50 DMA, they can take it out anytime with green TAPE. So we went from head & shoulder formation in S&P 500 to heading north in a hurry, so much for many formations. Most sectors participated in this rally. Stay with your high comfort stock, we may be celebrating 4th of July in a big way.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
Sold BAC @ 13.37 right on open to take profits.
Stocktrader
Hi Saleem,
Added to CSOD @ 37.28
Using the small pullback to bring this up to a full position (and it suddenly becomes #2 in my portfolio with all the speculative stocks I currently have). I think ORCL's raise of $14B in notes/bonds last night might signal an imminent acquisition. CSOD is certainly for sale, and has finally turning positive fundamentals after a sluggish last year.
Stocktrader
Hi Saleem,
Sold the rest of my TMF @ 114.45
Although treasury yields might move lower still, I think the bulk of the move has completed for now, and the 3x nature of this instrument will force decay on me barring another leg lower in yields.
Generally here, I'd prefer to have the cash available for a stock pick.
Stocktrader
Hi Stocktrader,
Good move in booking profit in TMF, BAC and more CSOD.
Saleem
Hi Saleem,
Bought DKS @ 44.26
The bankruptcy auction results seem like a best case scenario for DKS. I am worried about the "Amazon effect", but I'll see if this great win for them gives some traction.
Stocktrader
Hi Saleem,
Trimmed some SODA @ 21.02
They are highly exposed to the European Union and UK so I moved the position size back to speculative. Some recent channel checks have been mixed.
Stocktrader
Hi Stocktrader,
Good luck with DKS.
Saleem
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