Indices closed down
S&P 500 @ 2136.73, low 2128.84, high 2161.56
RSI @ 43.32
CMF @ -0.014
Internals were :
Down volume led by 8.00 to 1 in NYSE & 6.07 to 1 in Nasdaq
Declining stocks led by 6.96 to 1 in NYSE & 5.11 to 1 in Nasdaq
Net new 52 wk lows were leading by 8 in NYSE & 12 in Nasdaq
VIX UP 14.80% @ 15.36
Oil @ $50.79
Gold @ $1255.90
AH ER...FTNT Down 13.96%, CUDA UP 6.82%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was under severe selling pressure till close, indices closed near low of the day , internals are all negative after a long time.S&P 500 & Dow are both below 50 DMA, Nasdaq barely above. This is a good time to get back in strong stocks on weakness and lower prices. AA earning is not an indicator of how tech companies will report.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
Started a position in ACIA @ 90.80
Stocktrader
Hi Stocktrader,
Good luck with ACIA, good entry price.
Saleem
Hi Saleem,
I've been stalking YUM all morning and trying to figure out what I can sell to buy a nice position in YUM. I think the split at the end of the month will create nice value, and their brands generally seem to be getting more positive sentiment.
Stocktrader
Hi Saleem,
Added more ACIA @ 91.23 to utilize all cash.
The chart actually makes me a bit nervous, but the story seems fantastic. Hopefully I don't get a 10% hit here. At least the secondary and earnings (pre-announce) are over so it can just trade on "story". It appears to have a long runway through next year which could drive year-end buying, especially as institutions will not want to take the huge capital gains this year.
Stocktrader
Hi Saleem,
I just realized there's a big chunk of buyers that got 4.5M shares of ACIA @ $100 that are actually underwater. They might try to sell now and buy back in a month, so maybe this isn't as well set up as I thought.
Also, I might try and sell SPLK if it rebounds nicely. I have been fearing extended sales cycles in the business arena for a while, and FTNT's warning last night put a big spotlight onto that. The risk/reward may have shifted for now.
Stocktrader
Hi Stocktrader,
Thanks for sharing your views on some of your stocks. It is really helpful to all of us who follow the blog. I know the market is looking for a direction. Let us hope it will make a upward move in the afternoon. GL.
Joseph
Hi Stocktrader,
These new IPO is tough to trade.....
Too many moving parts.....secondaries, underwriters and shorts...all in the mix.....
Saleem
Post a Comment