Indices closed UP.
S&P 500 @ 2163.12, high 2165.11, low 2139.57
RSI @ 51.60
CMF @ 0.051
Internals were :
UP volume led by 9.71 to 1 in NYSE & 3.62 to 1 in Nasdaq
Advancing stocks led by 6.26 to 1 in NYSE & 2.65 to 1 in Nasdaq
Net new 52 wk highs were leading by 56 in NYSE & 82 in Nasdaq
VIX Down 16.46% @ 13.30
Oil @ $45.34
Gold @ $1331.40
Stocks which were UP 2% or more included CNQ GG VRX
NTES UA QRVO BIDU CTRP EGO ABX KGC JCP
OLED CSIQ YHOO FNSR CHK SWN TK RIG
WB LNG BABA YELP MU AKS X M TCK
AEM FCX ZG....
AH ER..JBL Down 4.76%, RHT UP 6.59%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE responded strongly to no raise in interest rates. Internals were strong. Nasdaq jumped to new all time high @ close. Most sectors participated in today's sharp rally. It is all clear for next few months for market with usual fed officials talking frenzy. Stay diversified and show patience and conviction, new highs begets more highs.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Sold AKS @ 4.93
Sold GWPH @ 108.40
After the huge run in AKS off the bottom, I needed to take profits here to evaluate again.
I think the easy money has probably been made in GWPH as it gets propped up by takeover rumors. I'm not sure it has much downside, but I don't think it has much upside either. I think a takeover is a ways off still. I do still have ZYNE in the same space should something positive happen and I think valuation more reasonable there.
Stocktrader
Hi Stocktrader,
Added 100% LULU @ $65.76.
Good move with AKS & GWPH.
Saleem
Hi Saleem,
I was going to post my portfolio after I made another move, but not sure there's one to be made today. I am watching BAC for entry.
Portfolio: TRIL TNA SWN FDX SPLK WLH QRVO ZYNE CNAT, cash 11.5%
Stocktrader
Hi Saleem,
Good luck with more LULU!
Stocktrader
Hi Stocktrader,
Congrats!!! It is wonderful to see how you allocate your money in different stocks. Excellent portfolio and it is going higher and higher. Keep up the good. GL
Joseph
Hi Stocktrader,
I just see that MACK is flying today. Do you know why it is flying? Thanks for the pick. GL
Joseph
Hi Joseph,
Short squeeze after some Oct 6 call buying in the last week. They should get EU approval for their drug very soon (by the end of the month if I remember correctly). I wish I had held obviously, but the chart was ugly and financing remains an overhang. When they get the EU approval, they might raise cash on the pop even though they get a milestone payment. The stock just becomes so much better when the financing overhang resolved.
Stocktrader
Hi Joseph,
I am tempted to take profits in ZYNE also. Many of these biotechs have had big runs and haven't seen a window this good to get financing in a while. ZYNE is not heavily pressured in that respect, but could always use more if the price is right...
Stocktrader
Hi Stocktrader,
Thanks for sharing your views on all these pharmaceutical companies. I think we should take profit considering the recent runs they had. I may sell MACK also. We could buy back when it comes down. TRIL had a huge run and we could have sold part of it. But we are lucky to have profit. I am so happy that I am able to make some profit with your guidance. I have only words of appreciation for everything you share here with the blog.
Thanks so much
Joseph
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