Indices closed UP.
S&P 500 @ 2163.79, high 2163.79, low 2152.56
RSI @ 58.38
CMF @ 0.262
Internals were :
UP volume led by 2.68 to 1 in NYSE & 2.18 to 1 in Nasdaq
Advancing stocks led by 2.09 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new 52 wk highs were leading by 78 in NYSE & 46 in Nasdaq
VIX Down 3.81% @ 12.86
Oil @ $40.83
Gold @ $1364.70
Stocks which were UP 1% or more included CNQ UA VRX
SPWR PCLN SU TWTR AAPL NXPI CHK SWN TK
SSYS RIG LNG FSLR CIEN M LRCX TCK SWIR
CSOD MS GS.....
AH ER...JACK UP 7.67%, SQ UP 14.85%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was strong and closed @ absolute highest point of the day, even Dow closed green after longest losing streak in 5 years which ended yesterday. Internals were solid all over. Oil also showed some life on inventory draw down. It will be interesting to see IF we have a confirmation positive close again, chances are very high.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
Sold BAC @ 14.41
This is mostly due to thinking financials may need to consolidate for a while with the interest rate outlook uncertain. I also wanted to raise cash for new opportunities.
Bought ELY @ 11.30
With Nike leaving the golf equipment business (and Adidas making a similar announcement a few months ago), it leaves more room for ELY which was starting to see better results anyways. The chart appears like a major breakout is in progress and entrenched long term sentiment should help provide institutional fuel.
Added to QRVO @ 53.09
It is too cheap!
Stocktrader
Hi Saleem,
I meant entrenched long term negative* sentiment in regards to ELY.
Stocktrader
Hi Saleem,
On another note, the one extra day delay I still need to sell SWKS is hurting my FB re-entry...that's a shame. Hopefully, I'll get some opportunities with the jobs report tomorrow to do something good.
Stocktrader
Hi Stocktrader,
Good luck with ELY and more QRVO.
I am speculating with OLED earnings through one option Aug 19 @ $ 80 for 60 cents...first time in a year...
Saleem
Hi Saleem,
Good luck on the speculation!
One of the reasons I sold OLED was that I expect the earnings to be lackluster as it is more of a 2017 story. The valuation in that context scared me. I hope I get another chance at the stock but I might miss it completely...
Stocktrader
Hi Saleem,
Bought even more QRVO @ 53.14
I don't see a bigger valuation disconnect in the stock universe right now. It is now my second largest position behind SPLK, but first in individual value (I've mentioned prior why SPLK is so large).
Stocktrader
Hi Stocktrader,
Good luck with QRVO. .now 2nd spot
Saleem
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