Indices closed UP.
S&P 500 @ 2105.26, high 2105.26, low 2088.59
RSI @ 62.93
CMF @ 0.182
Internals were :
UP volume led by 1.63 to 1 in NYSE & 2.11 to 1 in Nasdaq
Advancing stocks led by 1.89 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 135 in NYSE & 60 in Nasdaq
VIX Down 4.01% @ 13.63
Oil @ $49.17
Gold @ $1209.80
Stocks which were UP 1% or more CNQ CMG JCP TWTR
LNG PANW AMZN QRVO LULU COH YHOO DNKN
SU FFIV SWN SSYS FEYE YELP AMCC CIEN
OLED M TCK DATA CSOD ZG WYNN
TRIP......
AH ER...GPS UP 4.64%, AVGO UP 7.15%
AMBA UP 8.9%
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE closed @ absolute high of the day despite no production cap by OPEC. Oil finished higher which took indices along for the ride. IBD tonight has changed its market outlook to "market in confirmed uptrend".Gold closed @ the lowest level since February 16, 2016. Jobs report @ 830 AM will set the tone for this TAPE, as long as its not too hot and come slightly lower than consensus, then we rally.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
IBD only today went to "confirmed uptrend"? Pretty late to the game there lol...
I listened to the AMBA call (as best I could with some distractions). It really wasn't that positive--the market reaction really tells what our market state is currently--very bullish price tilt due to long lasting prior bearish sentiment. It is nice to be in this new current phase :)
Stocktrader
Hi Saleem,
Added to SPLK @ 57.52
It was already my largest position (barely so), but now it is well overweight. I needed more "new economy" stocks and I trust this story so much. It is very overbought, but I wasn't sure if it would come back in either.
Stocktrader
Hi Saleem,
Bought GWPH @ 97.64 (and apparently just seconds early)
I was looking for a way to get some biotech exposure, and despite being stretched, I think buying strength is the right move. It got initiated with a $181 price target at Cantor today.
Stocktrader
Hi Saleem,
Sold SCHW @ 29.27
I tried for higher earlier but it dropped like a rock. This pick was highly predicated on an interest rate cycle that is less likely to develop.
Bought FDX @ 161.59
I think e-commerce continues to roll and I've been re-eyeing this pick for a while after their nice earnings report.
Stocktrader
Hi Stocktrader,
Interesting how certain not so good earnings report are being greeted.
Yes IBD confirmed uptrend normally begets selling as the case today.
Good luck with megaweight SPLK, GWPH and FDX.
Saleem
Hi Stocktrader,
Added 50% SBUX @ $55.00
Saleem
Hi Saleem,
It is a crazy day with crazy data. I'm not exactly sure how to allocate honestly, but price action is still mostly positive.
Good luck with more SBUX! :)
Stocktrader
Hi Stocktrader,
Sold ABX @ $19.00
Bought UA @ $36.64
Saleem
Hi Saleem,
Gold stocks made such a huge move on the surprise jobs report. Nicely done on ABX!
Good luck with the UA!
Stocktrader
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