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
8 comments:
Hi Saleem,
Bought some FB @ 126.41
Stocktrader
Hi Stocktrader,
Good luck with FB
Bought GG @ $18.35
Saleem
Hi Saleem,
Good luck with GG!
Sold NXPI @ 86.95
The report was nothing special and they gave some indications of "seasonality" in Q4 which is associated with the FSL acquisition. I don't think the company gets acquired in the near future as many suggest, especially as the divestiture will take a while to complete, so I think the stock is at fair value for now. This leads me to take profits and look to deploy elsewhere.
Stocktrader
Hi Stocktrader,
Good move with NXPI, good luck with redeployment of $$$$.
Saleem
Hi Saleem,
Bought SWN @ 14.53
I am really impressed by the natural gas rally and I think it has staying power with so much of the energy and industrial areas having switched to natural gas over recent years. I think the valuation is reasonable versus many of the peers, and the chart looks ready for a breakout with cup-and-handle/reverse head-and-shoulders formations on the weekly/daily charts. I think risk/reward is favorable and has upside of acquisition potential.
Stocktrader
Hi Saleem,
Current portfolio is: SPLK RLYP BAC FDX DKS FB WLH SWKS SWN TASR GWPH CY
I have no "official" cash, but RLYP is acting like a cash position with a possible upside if a competing bid comes in. Given the huge options activity *after* the announcement, I'll probably wait to cash it in for a few weeks unless some other really compelling investment presents itself.
Stocktrader
Hi Saleem,
Also, as I've mentioned prior, SPLK is a heavy overweight in the portfolio. This is not necessarily due to thinking SPLK specifically is a great bargain here (it's actually very expensive)--it is more due to wanting heavy exposure to that space and I really only trust SPLK to have years left of unfettered growth potential. Many other players in the space are running into higher levels of saturation with their product and/or increasing competitive dynamics.
Stocktrader
Hi Stocktrader,
Good luck with SWN.
Thanks for your take on SPLK, it is working out great for you.
Bought UA @ $39.48.
Saleem
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