Indices closed UP.
S&P 500 @ 2159.93, high 2161.13, low 2141.55
RSI @ 50.23
CMF @ 0.066
Internals were :
UP volume led by 1.28 to 1 in NYSE & 2.52 to 1 in Nasdaq
Advancing stocks led by 1.42 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new 52 wk highs were leading by 74 in NYSE & 58 in Nasdaq
VIX Down 9.66% @ 13.10
Oil @ $44.67
Gold @ $1330.40
Stocks which were UP 1% or more included GOOG VRX
UA TWLO NTES BIDU QRVO AMZN FB CTRP MS
SPLK TWTR TRIL JKS MSFT NFLX CSIQ YHOO
SINA EXPE FFIV FNSR FEYE WB BABA MU
YELP FSLR SPWR AMCC CIEN OLED
AAL PANW LRCX CRUS DATA
CSOD ZG MLNX.....
AH ER...NKE Down 2.44%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE got its footing back despite oil being lower , Europe being sharply down, plus proclamation of stock market as "bubble". Indices closed near high of the day and internals were strong, Nasdaq leading stocks were winners. Oil may still hold the key to higher stock prices, IF oil UP we go UP. Stay diversified and show conviction and patience, the key to making money in a strong bull market.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
I like the setups for QRVO and SPLK better than some of the recent hotter stocks. I think it is their turn now :)
Stocktrader
Hi Stocktrader,
QRVO is behaving much better.
Saleem
Hi Saleem,
Trimmed a little SWN @ 13.15
The chart broke through some key levels in recent days and I'm less convinced on a positive energy outlook.
Portfolio: TRIL WLH AMZN AAPL URI SPLK DKS QRVO SWN TNA CNAT, cash 2.1%
I will likely sell TNA when available tomorrow as this upcoming earnings season might be more challenging than I expected, and therefore I want specific stock exposure rather than whole market exposure.
Stocktrader
Hi Stocktrader,
Yes energy is challenging.
Big guns of Nasdaq is a lazy way of investing.
TAPE is getting sloppy.
Saleem
Hi Saleem,
Added a little to QRVO @ 54.60
These are relatively small moves today but I wanted to better reflect my outlook for each stock appropriately through weighting.
Stocktrader
Hi guys,
The only stock I don't currently own that I really want is ZYNE. The future looks very bright and the market cap seems small given the potential. I am very much looking for the right entry, but won't have easy capital available until tomorrow.
Stocktrader
Hi Stocktrader,
Good luck with more QRVO and possibly ZYNE.
Saleem
Hi Stocktrader,
This morning I was in a meeting and so I did not get a chance to look at the market. I see ZYNE is down today too. Yesterday I had an order for the stock to buy at 13.02. But the stock did not come to my price. It seems the stock is quite weak. I will watch and see if I can take a small position today. Gl
Joseph
Hi Joseph,
If it wasn't that the chart looks toppy and I feel this is a good chance to raise cash, ZYNE would be a big buy right at these levels. My sensible nature telling to me wait, but it is hard with GWPH up another $3+ today.
Stocktrader
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