Indices closed UP.
S&P 500 @ 2186.48, high 2186.57, low 2175.10
RSI @ 58.58
CMF @ 0.167
Internals were :
UP volume led by 1.88 to 1 in NYSE & 1.44 to 1 in Nasdaq
Advancing stocks led by 1.43 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 242 in NYSE & 217 in Nasdaq
VIX UP .33% @ 12.02
Oil @ $44.83
Gold @ $1354.00
Stocks which were UP 2% or more included AKS GG VRX
NTES TSLA BIDU AMZN SPLK FB EGO ABX KGC
CSIQ YHOO SINA TK RIG FEYE WB LNG CHK
BABA YELP FSLR TCK SLW AEM FCX....
AH News ....CMG UP 6.38%, AMD Down 3.54%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE ignored weak US economic data and closed @ high of the day, Nasdaq closed @ new all time high, other indices are poised to do the same. Internals were strong, and Nasdaq starry stocks were shining bright. Expect another strong close and new record highs.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Stocktrader,
Added 70% CNQ @ $32.36.
Saleem
Hi Saleem,
Good luck--energy is really performing!
What do you think of CREE? I think you've invested there before. An interesting article out of China today about totally prohibiting the use of incandescent bulbs.
http://www.digitimes.com/news/a20160907PD204.htm
It appears to just be the final phase of a longer term plan, but it does seem to make for an interesting thesis in CREE's stock.
Stocktrader
Hi Stocktrader,
Have not followed CREE for a long time as low cost Chinese companies are hitting their margin before.
Technically it looks good and RSI is reasonable @ 49.13
Good luck with your decision.
Saleem
Hi Saleem,
Given my lack of convicted ideas, I am tempted to merely buy the TNA with the remainder of my cash until I get a better single-stock idea. I think small caps grind higher here, which should limit the decay in the triple-leverage instrument and the triple leverage itself should provide nice upside.
Stocktrader
Hi Saleem,
Argh, I've been stalking ZYNE all day for a purchase after doing more research on my opiod-replacement theme. It just spiked on the GWPH news, although nice I have that of course :).
Stocktrader
Hi Saleem,
Did a starter position in ZYNE @ 10.31. This is not ideal, but using some of the gains from GWPH and may even trim there.
Stocktrader
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