Sunday, July 31, 2016

Can Nasdaq go to new all time high.....

Nasdaq has been UP 5 weeks in a row, the question is, can it go to new all time high. Here is RSI comparison of major indices :

Dow RSI @ 59.32

S&P 500 RSI @ 64.16

Nasdaq RSI @ 70.00

As you can see that RSI in Nasdaq is @ its highest level in 5 months, normally this would have resulted in an immediate pullback, BUT this time pullback may not happen @ 70 level.

Nasdaq closed @ 5162.13

All time high 5231.94

Nasdaq needs only 69.82 points to make it into new all time highs or 1.36% move.......

As we have just witnessed this week that AAPL,FB AMZN & GOOG had outstanding earnings, there is a high probability that Nasdaq momentum continues this week.

I am expecting Nasdaq to hit all time highs by Thursday of this week, it will be interesting to watch how RSI goes higher than 70 range.....

RSI like any other technical indicator, can have abnormalities both on the low side like below 30 or high side like above 70....its all very subjective, being a close follower of RSI, this is the only times i feel, that we go well above trendline....shall see by Thursday of this week.

It has been a stock pickers market and those who do not change with the flow have not fared as well.

Trend has been very well defined, strong companies are performing very well.

Stock market is all about taking risk, sometimes it pays more to go into risky format like buying before earnings report, some like to buy after earnings report, which limits the gain, but allows you to sleep well @ night.

There are many ways to trade this market, i have my comfort level with my approach, may look reckless or too aggressive but results are there to justify my risk taking.

This season earnings reaction has been positive 9 out of 10 picks, not bad @ all.

TSLA earning is coming UP, they are expecting 7% move UP or Down......take your pick......I may join in.......

Good luck with your own trading style and comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, July 29, 2016

Indices closed mixed.....

Indices closed mixed despite anemic Q2 GDP growth of 1.2%, S&P 500 made another all time high intraday.

S&P 500 @ 2173.60, high 2177.09, low 2163.49

RSI @ 64.16

CMF @ 0.322

Internals were :

UP volume led by 1.60 to 1 in NYSE & .83 to 1 in Nasdaq

Advancing stocks led by 1.68 to 1 in NYSE & 1.02 to 1 in Nasdaq

Net new 52 wk highs were leading by 308 in NYSE & 120 in Nasdaq

VIX Down 6.68% @ 11.87

Oil @ $41.60

Gold @ $1357.50

Canadian $ .6959

Stocks which were UP 1% or more included GOOG CNQ JCP
PCLN ABX TCK KGC TWTR TSLA CHK TK SSYS RIG
SLW AEM MGA.....

Here is my weighting :

GOOG  31.02%

CMG    20.53%

SBUX  16.85%

CNQ     7.81%

JCP      7.80%

VRX     7.20%

UA       6.05%

GG      2.74%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 28, 2016

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2170.06, high 2172.85, low 2159.74

RSI @ 63.17

CMF @ 0.358

Internals were :

UP volume led by .98 to 1 in NYSE & 1.17 to 1 in Nasdaq

Advancing stocks led by 1.07 to 1 in NYSE & .88 to 1 in Nasdaq

Net new 52 wk highs were leading by 214 in NYSE & 115 in Nasdaq

VIX Down .86% @ 12.72

Oil @ $41.14

Gold @ $1341.20

Stocks which were UP 1% or more included CMG AAPL
AMZN PANW SPLK FB SU TWTR LVS WYNN 
EXPE MA SWN FEYE YELP LRCX TCK 
AEM CRUS DATA CSOD TRIP.....

AH ER...GOOG UP 3.9%, AMZN UP 2.02%
               EXPE Down 6.51%

GOOG earnings report was a beat on Sales and EPS....

Sales actual $21.5 billion, estimate $20.75 billion

EPS actual $8.42, estimate $8.04

Conference call was very impressive....

AH Futures UP

AH Asian Markets mixed

AH Oil Down

AH Gold UP

About market, TAPE closed near high of the day despite oil being lower and @ low point in months.After hour earnings report from GOOG & AMZN were impressive, this should give Nasdaq a lift from open.Internals were mostly positive and RSI is contained in 63 area. Nasdaq is about 78 points from a new all time high, which should be coming soon. 

BLOG does NOT give buy or sell.

Saleem

Indices mixed......

Indices are mixed but @ high of the day, despite lower oil.

S&P 500 @ 2168.51, high 2168.51, low 2159.74

Internals are mixed with NYSE positive and Nasdaq negative

Oil Down 79 cents

Gold UP $5.80

Canadian $ UP 17 tick @ .6830

VIX Down 1.48% @12.64

In my portfolio :

Sold NXPI @ $84.25

Sold AAPl @ $104.00

Bought GOOG @ $742.90

Bought UA @ $39.48

Bought GG @ $18.35

Portfolio CNG CMG GG GOOG JCP SBUX UA VRX

Most stocks are UP

@ 2.28 following are red :

GG UA VRX NTES OLED NXPI TK BABA CSIQ
FSLR SPWR MU CIEN MGA AGU MLNX....

GOOG is reporting AH, here are the expectations :

Sales $20.76 billion, EPS $8.03

Expectations next Q Sales $21.63 billion, EPS $8.35

Expecting a beat in Sales & EPS......

BLOG does NOT give buy or sell.

Saleem

Wednesday, July 27, 2016

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2166.58, low 2159.07, high 2174.98

RSI @ 62.21

CMF @ 0.377

Internals were :

UP volume led by .64 to 1 in NYSE & 1.23 to 1 in Nasdaq

Advancing stocks led by .87 to 1 in NYSE & 1.38 to 1 in Nasdaq

Net new 52 wk highs were leading by 220 in NYSE & 126 in Nasdaq

VIX Down 1.69% @ 12.83

Oil @ $41.92

Gold @ $1334.50

Stocks which were UP 1% or more included AAPL VRX
OLED NTES QRVO EGO GG ABX KGC FB TCK
SSYS SLW AEM CRUS CSOD FCX.....

NXPI Q2 results were ahead of expectations :

Q2 Sales Actual $2.365 billion vs expectations of $2.35 billion
EPS actual $1.39 vs expectations of $1.35

Q3 Sales mid point guidance is $2.465 billion inline with expectations of $2.47 billion...Sales for Q2 came in above mid point guidance.....

VRX reports August 9th.

AH ER...FB UP 4.53% , CRUS UP 14.56%

AH futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE had to struggle against Fed intent as spelled out in its statement, any time stock market is near all time high, Fed likes to tamper enthusiasm with key words, currently they are saying, economy is fine , implying an interest rake hike can be done. Earnings from major companies are better than expected. AMZN & GOOG is next after close on Thursday.

BLOG does NOT give buy or sell.

Saleem

Indices mixed....

Indices are mixed despite good earning reports, oil is lower again. Fed staying put for now.

S&P 500 @ 2167.89, low 2159.07, high 2174.98

Internals are mostly negative.

Oil Down 88 cents

Gold UP $12.30

Canadian $ Down 16 tick @ .6798

VIX Down 1.38% @ 12.87

In my portfolio :

Sold OLED @ $72.00

Bought NXPI @ $87.29

Bought CNQ @ $29.70

Portfolio AAPL CNQ CMG NXPI JCP SBUX VRX

Most stocks are UP

@ 3.02 following are red :

CNQ CMG NXPI SBUX JCP UA PANW AMZN LULU
SU TWTR LVS EXPE FFIV CHK SWN TK RIG WB
LNG YELP MU AAL MCD WYNN AGU MLNX...

NXPI reports after 8 PM, here are the expectations :

Sales $2.35 billion, EPS $1.35

Expectations Sales next Q $2.47 billion, EPS $1.59

Historically they beat on EPS....

VRX reports AH, here are the expectations :

Sales $2.47 billion, EPS $1.54

Expectations Sales next Q $2.54 billion, EPS $1.77

This is a battleground stock, lot of negativity priced in....

BLOG does NOT give buy or sell.

Saleem

Tuesday, July 26, 2016

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2169.18, high 2173.54, low 2160.18

RSI @ 63.35

CMF @ 0.441.....highest level in 5 months

Internals were :

UP volume led by 2.01 to 1 in NYSE & 2.36 to 1 in Nasdaq

Advancing stocks led by 1.58 to 1 in NYSE & 1.62 to 1 in Nasdaq

Net new 52 wk highs were leading by 205 in NYSE & 137 in Nasdaq

VIX UP 1.40% @ 13.05

Oil @ $42.92

Gold @ $1320.80

Stocks which were UP 1% or more included JCP
NTES PANW SPWR EGO GG ABX JKS KGC
BIDU NXPI LVS NFLX YHOO EBAY SSYS
CHK WB LNG FSLR MU CIEN AAL TCK
SLW AEM CRUS SWIR MGA FCX ZG
WYNN AGU.....

AH ER..TWTR Down 10.89%, AKAM Down 12.21%
             PNRA UP 3.9%, AAPL UP 6.81%

AAPL earning report was a beat in Sales and EPS, AAPL is guiding higher for this Quarter.

AH futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE showed its resiliency by erasing most of the losses and actually closed green, only Dow lagged slightly to close in red. AAPL lit the fire by beating in all metrics closely followed by all analysts, expecting much higher target price on AAPL. FB NXPI, BIDU are on tap for earning confession, most should be minor beat. Fed statement @ 2 PM, should be bullish for equities.

BLOG does NOT give buy or sell.

Saleem

Indices down .02% to .25%....

Lower oil and weak earnings are putting negative pressure on indices.

S&P 500 @ 2163.97, low 2160.18, high 2173.54

Internals are positive by 17 to 11 in NYSE & 14 to 10 in Nasdaq

Oil Down 31 cents

Gold UP $1.60

Canadian $ UP 22 tick @ .6808

VIX UP 2.8% @ 13.23

In my portfolio :

Sold NXPI @ $86.00

Bought AAPL @ $97.09

Portfolio AAPL CMG JCP SBUX OLED VRX

Most stocks are UP

@ 2.02 following are red :

AAPL CMG OLED COH SPLK GOOG PCLN
AMZN QRVO FB LULU UA TWTR V LEN
SINA DNKN YUM SWN TSLA MCD
CSOD ORCL MLNX

AAPL reports AH, here are the expectations :

Sales $42.09 billion, EPS $1.38

Expectations next Q Sales $45.71 billion, EPS $1.60

Expecting a beat in Sales & EPS......many deficiencies are priced in....

BLOG does NOT give buy or sell.

Saleem 

Monday, July 25, 2016

Indices closed down .05% to .42%.....

Indices closed down.

S&P 500 @ 2168.48, low 2161.95, high 2173.71


RSI @ 63.16


CMF @ .370


Internals were :


Down volume led by 1.94 to 1 in NYSE & .85 to 1 in Nasdaq


Declining stocks led by 1.69 to 1 in NYSE & 1.40 to 1 in Nasdaq


Net new 52 wk highs were leading by 169 in NYSE & 93 in Nasdaq


VIX UP 7.07% @ 12.87


Oil @ $43.13


Gold @ $1319.50


AH ER..LVS UP 4.5%, TXN UP 6.16%


AH Futures Down


AH Asian Markets Down


AH Oil & Gold UP


About market, TAPE sold off on oil's weakness. Nasdaq fought back to an almost breakeven close, which defines strength.Fed starts its monthly meeting on Tuesday with an statement on Wednesday @ 2 PM, too much focus on statement nuances. AAPL AH will set the tone for smartphone industry, TXN tonight had an outstanding earnings report, that gave lift to some semiconductor stocks in AH. Weakness to be bought for a sharp upturn.


BLOG does NOT give buy or sell.


Saleem

Indices down .15% to .54%.....

Indices are lower on lower oil, oil is @ recent lows.

S&P 500 @ 2165.51, low 2161.95, high 2173.31

Internals are negative by 18 to 10 in NYSE & 14 to 10 in Nasdaq

Oil down $1.06

Gold down $3.60

Canadian $ down 85 tick @ .6791

VIX UP 12.40% @ 13.51

Portfolio CMG NXPI JCP SBUX OLED VRX

Most stocks are down

@ 2.02 PM following are green :

JCP SBUX VRX NTES COH PANW SPLK 
LULU TWTR UA LVS LEN NFLX TSLA
SINA DNKN FFIV FEYE YELP CIEN
MU M LRCX SWIR MS WYNN
MLNX.....

BLOG does NOT give buy or sell.

Saleem

Sunday, July 24, 2016

Nasdaq all set for new all time high......

Dow & S&P 500 have made series of new all time highs, but Nasdaq has been making steady progress towards new all time high, Russell is the big laggard.

Here is summary of Nasdaq and Russell :

Nasdaq closed @ 5100.16, all time high 5231.94....131.78 points to go or 2.58%

Russell closed @ 1212.89, all time high 1296.00....83.11 points to go or 6.85%

It is clearly evident that small caps are struggling the most.

This market is rewarding Dow & S&P 500 stocks for a long time......

There is a very good chance that, Nasdaq may hit new all time high this week......

Once Nasdaq makes it into record book, then expect euphoria to set in and new money will be in tech.

VIX @ 12.02...is the biggest threat to this rally, 10.88 is 52 wk low....VIX may give temporary pause to rally. 

VIX may trade in a 30% range.....11.50 to 15.00

Overall tone of this market is healthy, with internals looking very good.

BUT...it is important to book profit and stay with strong stocks which has rested and has low RSI.

It is becoming a traders market again......

Important earnings are this week, Tuesday AAPL & TWTR, FB & NXPI on Wednesday, GOOG, AMZN, BIDU on Thursday

Many stocks are sitting for breakout except few laggards.

Good luck with your own strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, July 22, 2016

Indices closed UP .29% to .50%....NICE !!!!

Indices closed near high of the day, S&P 500 notched a new intraday all time high. Oil was lower but TAPE ignored this weakness, TAPE also ignored many misses in earnings report from last night, this is a very good sign for series of new all time highs in future.

S&P 500 @ 2175.03, high 2176.11, low 2163.24

RSI @ 65.83

CMF @ 0.262

Internals were :

UP volume led by 2.14 to 1 in NYSE & 2.48 to 1 in Nasdaq

Advancing stocks led by 2.01 to 1 in NYSE & 1.88 to 1 in Nasdaq

Net new 52 wk highs were leading by 214 in NYSE & 114 in Nasdaq

VIX Down 5.65% @ 12.02......

Oil @ $44.19

Gold @ $1323.40

Canadian $ @ .6822

Stocks which were UP 1% or more included CMG NXPI
PANW SPLK LVS WYNN V MSFT YHOO SINA
DNKN EBAY YUM FFIV MA CHK SWN 
LNG FEYE VDSI YELP AAL DATA
CSOD ZG TRIP.....

Here is my weighting :

CMG   26.42%

NXPI   21.01%

SBUX  20.72%

OLED 13.65%

JCP      9.11%

VRX     9.09%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 21, 2016

Indices closed down .31% to .42%......

Indices closed down.

S&P 500 @ 2165.16, low 2159.75, high 2174.56

RSI @ 63.70

CMF @ 0.263

Internals were :

Down volume led by 1.47 to 1 in NYSE & 1.56 to 1 in Nasdaq

Declining stocks led by 1.38 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new 52 wk highs were leading by 181 in NYSE & 71 in Nasdaq

VIX UP 8.24% @ 12.74

Oil @ $44.75

Gold @ $1331.00

In my portfolio :

Bought NXPI @ $83.60
Added 100% SBUX @ $57.35

Portfolio CMG NXPI JCP SBUX OLED VRX.....

AH ER....CMG Down 1.93%, SBUX Down 2.66%
               SWKS Down 3.76%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down  

AH Gold UP

SBUX reported a beat in EPS by 2 cents, but Sales was a miss, actual Sales $5.2 billion vs expected $5.33 billion.Worth keeping in portfolio.

CMG Was a miss of 6 cents on EPS 87 cents vs expected 93 cents, Sales $998.4 million vs expected 1.05 billion.....Keeping in portfolio....

About market, TAPE was under mild selling pressure and closed well above low of the day, this is very impressive considering we were overbought. VIX turned UP 8.24% which is a big relief from lowest close in 2 years. It will be interesting how market close looks like, as most high profile earnings were a miss.

BLOG does NOT give buy or sell.

Saleem

Indices down .33% to .55%.....

Indices are lower & near low of the day on overbought conditions and lower oil.

S&P 500 @ 2163.57, low 2162.77, high 2174.56

Internals are negative by 1.50 to 1 in both NYSE & Nasdaq

Oil Down 84 cents

Gold UP $10.30

Canadian $ Down 20 tick @ .6924

VIX UP 9.09% @ 12.84

In my portfolio :

Bought OLED @ $68.50

Portfolio CMG JCP OLED SBUX VRX

Most stocks are down

@ 2.06 following are green :

JCP VRX EGO GG ABX KGC BIDU UA MSFT
EBAY FFIV CHK TK LNG MCD TCK SLW
AEM MGA FCX......

AH SBUX reporting, following are expectations :

Current Q Sales $5.33 billion, EPS 49 cents

Expectations next Q Sales $5.76 billion, EPS 55 cents

Expecting a small beat...

CMG also reports AH , here are the expectations:

Current Q Sales $1.05 billion, EPS 93 cents

Expectations next Q Sales $1.16 billion, EPS $2.05

Bad news seems to be priced in, any improvement shown, stock will fly....

BLOG does NOT give buy or sell.

Saleem

Wednesday, July 20, 2016

Indices closed UP .19% to 1.06%....NICE !!!!!

Indices closed UP.

S&P 500 @ 2173.02, high 2175.63, low 2164.89

RSI @ 66.77

CMF @ 0.243

Internals were :

UP volume 1.75 to 1 in NYSE & 3.34 to 1 in Nasdaq

Advancing stocks led by 2.11 to 1 in NYSE & 2.19 to 1 in Nasdaq

Net new 52 wk highs were leading by 204 in NYSE & 119 in Nasdaq

VIX Down 1.67% @ 11.77....lowest close since August 2014.....scary

Oil @ $44.94

Gold @ $1319.30

Stocks which closed UP 1% or more ...CMG JCP SBUX VRX
OLED PANW SPLK SPWR PCLN FB JKS TWTR NXPI LVS
CTSH MSFT NFLX TSLA CSIQ YHOO SINA DNKN 
EBAY MA CHK LNG VDSI BABA FSLR MU 
AMCC CIEN LRCX DATA SWIR CSOD
MS ZG TRIP....

In my portfolio...Sold CNQ @ $31.96

Portfolio CMG JCP SBUX VRX.....lowest exposure in 3 years...

AH ER...EBAY UP 6.89%, QCOM UP 7.04%
              INTC Down 3.33%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market,TAPE maintained its impressive run with Dow & S&P 500 @ fresh new all time highs. Internals were strong with Nasdaq stocks doing very well. After a long long time, i am not so gutsy anymore as VIX is @ 2 year low, anytime i ignored that, i have suffered financially in a hurry, this time, i am booking gains, so i am not going to lose my profit.RSI in Dow is @ 69.05...awfully close to sharp pullback, Nasdaq @ 65.76 is lagging slightly. BUT in 1999-2000 runup, TAPE kept going up defying technicals or fundamentals, i certainly hope, we are not going to repeat that.

BLOG does NOT give buy or sell.

Saleem

Indices UP .28% to 1.15%.....NICE !!!!!

Indices are strong & @ high of the day on strong earnings report. Dow & S&P 500 are @ new all time intraday high.

S&P 500 @ 2164.74, high 2175.63, low 2164.89

Internals are positive by 2 to 1

Oil UP 40 cents

Gold Down $15.10

Canadian $ Down 29 tick @ .6953

VIX Down 1.50% @ 11.79.......troubled by extremely low vix....thus my sell and booking profit.

In my portfolio :

Sold NXPI @ $84.28

Sold UA @ $42.05

Portfolio CNQ CMG JCP SBUX VRX.....lowest exposure in a long time.

Most stocks are UP

@ 2.07 following are red :

COH EGO GG ABX KGC AEM SLW BIDU NTES
FFIV WB LULU MCD TCK FCX WYNN.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, July 19, 2016

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2163.78, low 2159.01, high 2164.63

RSI @ 64.92

CMF @ 0.226

Internals were :

Down volume led by 1.62 to 1 in NYSE & 1.98 to 1 in Nasdaq

Declining stocks led by 1.43 to 1 in NYSE & 1.87 to 1 in Nasdaq

Net new 52 wk highs were leading by 167 in NYSE & 55 in Nasdaq

VIX Down 3.78% @ 11.97...not good for bulls

Oil @ $44.65

Gold @ $1332.30

AH ER ...MSFT UP 4.24%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, Dow made another closing all time high, while Nasdaq and S&P 500 took a well deserved rest. TAPE is in the process of digesting gains and may need few more days of  down to sideways action. Internals were negative after a long time which is a good thing. Overbought conditions are being dealt with, RSI in 50+++ will be healthy. Individual story stocks are behaving better than rest. It may be a good time to create a buy list on any pullback, i have mine ready.

BLOG does NOT give buy or sell.

Saleem

Indices down .02% to .47%......

Indices are slightly lower on overbought conditions and lower oil, despite strong earnings from GS & Johnson and Johnson.

S&P 500 @ 2160.68, low 2159.01, high 2164.63

Internals are negative by almost 2 to 1

Oil Down 49 cents

Gold UP $4.40

Canadian $ Down 86 tick @ .6971

VIX UP 1.85% @ 12.67

Portfolio CNQ CMG NXPI JCP SBUX UA VRX

Most stocks are down

@ 2.15 following are green :

CMG UA AMZN FB V YHOO EXPE YUM FFIV GOOG
WB PANW LRCX MCD CRUS MA DATA .....

BLOG does NOT give buy or sell.

Saleem

Monday, July 18, 2016

Indices closed UP .09% to .52%....NICE !!!!

Indices closed UP.

S&P 500 @ 2166.89, high 2168.35, low 2159.63

RSI @ 66.07

CMF @ 0.178

Internals were :

UP volume led by 2.31 to 1 in NYSE & 2.18 to 1 in Nasdaq

Advancing stocks led by 1.72 to 1 in NYSE & 1.25 to 1 in Nasdaq

Net new 52 wk highs were leading by 199 in NYSE & 125 in Nasdaq

VIX Down 1.82% @ 12.44

Oil @ $45.24

Gold @ $1329.30

Stocks which were UP 2% or more included NXPI JCP VRX
COH SPWR QRVO FB KGC NTES TWTR TSLA CHK
TK WB VDSI WYNN MLNX......

AH ER...VMW UP 9%, NFLX Down 13.19%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil  & Gold Down

About market, TAPE continues to make new all time highs in S&P 500 and Dow, Nasdaq keeps going towards old highs. Internals remained positive. VIX is flashing warning sign and RSI is getting close to overbought 70 reading, a good move is to book profit, which i did today and added NXPI whose RSI was below 50 upon purchase. No matter how you position, it is all about making money.

BLOG does NOT give buy or sell.

Saleem

Indices UP .07% to .57%...NICE !!!!

Indices are higher despite lower oil but better BAC earning and merger of ARMH by Softbank which brought indices to its high of the day.

S&P 500 @ 2166.43, high 2167.87, low 2159.63

Internals are positive by 1.5 in NYSE & Nasdaq

Oil Down 69 cents

Gold UP $2.20

Canadian $ Down 3 tick @ .7035

VIX Down 1.42% @ 12.49

In my portfolio :

Sold NTES @ $198.29

Sold TWTR @ $18.55

Added 400% NXPI @ $81.08

Portfolio CNQ CMG NXPI JCP SBUX UA VRX

Most stocks are UP

@ 2.05 following are red :

SBUX LNG LULU SINA SU YUM FFIV SSYS
AEM......

BLOG does NOT give buy or sell.

Saleem


Sunday, July 17, 2016

Are we topping out......?

Indices has been on a tear since end of June, after breaking support we rallied hard and made new all time highs in S&P 500 & Dow.

Let us look @ RSI to see where we may be heading next :

Dow RSI 67.33

S&P 500 RSI 65.12

RUT RSI 63.82

Nasdaq RSI 62.66

As we know that Russell and Nasdaq has not made new all time high, which is a concern, here is the number to get to in those indices :

Nasdaq all time high 5231.94......4.02% away

Russell all time high 1296.00......7.52% away

Dow has some room in RSI and can go to 72 area, but may do a quick reversal.....

S&P 500 also has similar room to 70 area and may do quick reversal from there...

RUT & Nasdaq can also go to 70 RSI ..but those can reach serious overbought condition.....

BUT..the good news is that...it is a stock picker market and many stocks are behaving very well and wants to go much higher.......

ALSO...this is NOT a trading market but an " investment strategy " is the way to go......

This TAPE has the feel of a sustained bull market, which may surprise everyone by making series of new highs....

As Nasdaq has not made a new high yet, it gives us hope that it will make series of new highs first, followed by Russell few weeks further......

In conclusion, it is good to be exposed with maximum exposure, which has worked since February lows with some correction along the way.

On Friday before close, i bought NXPI @ $79.76.

Here is my weighting :

NTES  20.20%

CMG   16.76%

CNQ   15.89%

UA      12.65%

TWTR 12.47%

SBUX  7.13%

VRX    6.31%

JCP     5.84%

NXPI   2.75%

Sincere appreciation to stocktrader_1996 for doing closing recap for two weeks, i appreciated that plus all the BLOG visitors.

BLOG does NOT give buy or sell.

Saleem

Sunday, July 3, 2016

S&P 500 may hit new all time high this week....

Brexit is in rear view mirror and TAPE is poised to hit all time highs, here are the numbers for making new highs :

S&P 500 31.78 points or 1.49%

Dow 402.00 points or 2.19%

Nasdaq 369.38 points or 7.06%

Based on a 4 day week, it appears S&P 500 is all set to march into record books....

Dow could make into record books also...

Nasdaq may need another 3 weeks to cross 5231.94......

TAPE was extremely strong and impressive last week by moving UP a fast 3% in most indices.

Most sectors were participating in last week snapback.

A diversified portfolio is the-best bet going forward.

Strong stocks needs to be overweight, as technical health should provide superior result.

July may become the month of series of new highs in all indices.....

Market is looking very strong as all central banks are in wait and see mode post Brexit.

Increasing your exposure in this environment can be profitable.

I am leaving on a 2 week vacation with my family in US starting early Monday, i am unable to write my BLOG for 2 weeks, will be back with Sunday July the 17th BLOG around 2 PM.

I am hoping that stocktrader_1996 will be able to give a closing report in comment section for 9 trading days, plus his trades as they happen. His experience in market is highly valued by me and other BLOG readers.

BLOG does NOT give buy or sell.

Saleem


Friday, July 1, 2016

Indices closed UP .11% to .41%...NICE !!!!

Indices closed UP on Higher oil and lower US$ plus better than expected manufacturing in US.

S&P 500 @ 2102.95, high 2108.71, low 2097.90

RSI @ 55.50

CMF @ 0.041

Internals were :

UP volume led by 2.07 to 1 in NYSE & 1.57 to 1 in Nasdaq

Advancing stocks led by 1.76 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new 52 wk highs were leading by 420 in NYSE & 118 in Nasdaq

VIX Down 5.50% @ 14.77

Oil @ $48.99

Gold @ $1399.00

Canadian $ @ .7085

Stocks which were UP 1% or more included TWTR VRX
LNG GOOG PCLN AMZN EGO GG KGC ABX SU
JKS NFLX TSLA YHOO DNKN EXPE EBAY
CHK SWN RIG AAL TCK SLW AEM 
CSOD FCX WYNN......

In my portfolio :

Added 25% NTES @ $185.26

Here is my weighting :

NTES  20.35%

CMG   17.35%

CNQ   16.37%

UA      13.08%

TWTR 12.70%

SBUX  7.54%

JCP     6.57%

VRX    6.01%

Next post by 2 PM on Sunday

BLOG does NOT give buy or sell.

Enjoy long weekend !

Saleem