Indices closed down.
S&P 500 @ 2157.03, low 2147.58, high 2170.20
RSI @ 56.04
CMF @ 0.298
Internals were :
Down volume led by 2.87 to 1 in NYSE & 3.04 to 1 in Nasdaq
Declining stocks led by 3.35 to 1 in NYSE & 2.97 to 1 in Nasdaq
Net new 52 wk highs were leading by 80 in NYSE & 27 in Nasdaq
VIX UP 7.48% @ 13.37
Oil @ $39.51
Gold @ $1372.60
AH ER...DATA Down 1.51%, QRVO Down 8.85%
FIT UP 6%
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE has been extremely weak in Dow stocks, down 7 consecutive days, seems deeply oversold. Nasdaq was dragged on overbought conditions. Oil has been weak and sentiment on oil is extremely negative, a very reliable contrary indicator. Hopefully Nasdaq can get back on track of positive close starting with Wednesday close. Today's selling was overdue and am glad its out of the way.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteSwapped FB @ 123.36 for QRVO @ 54.25
I couldn't resist and I thought FB had the least immediate % upside.
Stocktrader
Hi Saleem,
ReplyDeleteI will likely sell SWKS when I can (2 more days) to back down my semis exposure again. QRVO has both better earnings power and takeover optionality right now in my opinion. I might rebuy the FB then--it should be a slow and steady gainer until next quarter.
Stocktrader
Hi Stocktrader,
ReplyDeleteExcellent swap from FB to QRVO. .
You are already ahead $$$/.
Saleem
Hi Saleem,
ReplyDeleteCurrent portfolio: SPLK BAC FDX DKS WLH FCX GM QRVO SWN SWKS GWPH CY MACK
Looking to sell SWKS as soon as possible. Might swap FCX for URI, I don't trust copper prices.
Stocktrader
Hi Stocktrader,
ReplyDeleteSold SBUX @ $55.95
Added 125% NTES @ $197.83
Saleem
Hi Saleem,
ReplyDeleteGood luck with more NTES!
Stocktrader