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
7 comments:
Hi Stocktrader,
Added 75% UA @ $39.57
Saleem
Hi Saleem,
Good luck with more UA!
Q2 GDP was a surprise...but probably keeps the Fed on hold longer.
Stocktrader
Hi Stocktrader,
Thanks for sharing your views on the market. It is going to be a great help to all of us especially to me. I have gone through every stock you mentioned and it does help me a lot. I traded LBIO (your pick) several times with profit. Unfortunately, once it started going up, it never turned back. I should have made almost 100% profit had I hold on to it.
It was not that easy to hold on to RLYP. There were moments when I was losing quite a bit. At the end we were rewarded not once but twice. That was an amazing run with one stock.
You have given us detailed views on so many picks and tell us why you pick them. I have never seen you. I dont even know your name. And yet I can tell you with confidence the type of person you are. Immensely appreciated for sharing your views and thoughts, (your hard work and effort) on market.
Thanks Saleem..............
Joseph
Hi Stocktrader,
GDP was a major let down. ..
Yes Fed cannot ignore this weakness.
Saleem
Hi joseph,
Thank you for the very kind words. I try to be as transparent as possible with my trades and thoughts, and think we're all in this together so I try to share anything that might help anyone.
I regret the times I am moving quickly and can't expound upon my ideas fully (or not at all on occasion other than to just post the trade and price). Honestly, I was never sure people cared, and wondered if people just wanted me to stop posting almost every day and sometimes multiple times in a day.
Thank you again for writing so kindly about my posts. I will continue to write anything I feel can be helpful for others.
Stocktrader
Hi Saleem,
My fear about chemicals is coming to roost today in EMN and LYB (and CE earlier this week). As much as I want to enter HUN or OLN, the sector is probably in the penalty box for a while. Part of this is the continuing rise in natural gas prices skewing the materials costs for these guys.
With the stimulus likely to extend even more now both here and around the world, gold is getting tempting...maybe FCX is the way to play it in a more diversified but still heavy stimulus way. The earnings report this week showed a stabilization in earnings power with upside as they cut costs and some commodities rise. They could even be a takeover candidate for a large player like BHP or RIO as world commodity players seek synergies to improve profitability.
Stocktrader
Hi Stocktrader,
Yes FCX is a good way to get gold, oil and copper exposure. ..takeover is another carrot.
Good luck!
Saleem
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