Indices closed down.
S&P 500 @ 2150.50, low 2144.01, high 2165.46
RSI @ 47.23
CMF @ -0.018
Internals were :
Down volume led by 2.30 to 1 in NYSE & 1.60 to 1 in Nasdaq
Declining stocks led by 2.59 to 1 in NYSE & 1.62 to 1 in Nasdaq
Net new 52 wk highs were leading by 43 in NYSE & 53 in Nasdaq
VIX UP .44% @ 13.63
Oil @ $48.69
Gold @ $1269.70
In my portfolio..Bought 5 minutes before close TWLO $60.96
Portfolio CNQ CMG LULU NTNX TWLO VRX
AH ER...MU Down 5.22%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under selling pressure as British pound took a beating to several decades low and Gold was pounded to below support @ $1269.70. Sometimes TAPE is in reactive mode to other things like currency and metals, today was just that day on US$ strength. Wednesday, we may recover, as close was half decent today. I shuffled my tech portion of portfolio to get more beta.
BLOG does NOT give buy or sell.
Saleem
16 comments:
Hi Stocktrader,
Bought AMD in pre-market @ $7.02
Saleem
Hi Saleem,
An interesting take on recent IPOs:
http://www.benzinga.com/analyst-ratings/analyst-color/16/10/8531165/chowdhry-twilio-and-nutanix-are-marching-in-the-junk-ipo
I know it's fashionable to be negative--thought you could use the info though.
Stocktrader
Hi Saleem,
Good luck with AMD!
Stocktrader
Hi Stocktrader,
Negativity is extremely positive for major price appreciation.
I am glad some traders are out of this IPO or shorting this...all future buyers....
Thanks for the link
Saleem
Hi Saleem,
Sold WLH @ 18.10
After a huge run on potential consolidation in the sector, I wanted to take profits, especially in the light of rising interest rates.
Stocktrader
Hi Saleem,
Trimmed some ZYNE @ 13.92
I am legitimately scared by these rising interest rates which could affect sentiment on many speculative stocks. I am playing it a bit more cautiously until I can fully digest the situation.
Stocktrader
Hi Stocktrader,
Sold 50% of TRIL @ 15.90. At times the sell order doesnt get executed due to low volume. I dont if I have sold it too early. GL
Joseph
Hi Joseph,
Nice run! I've been looking at TRIL all day to decide if I should trim also. I'm not sure I want to be so heavily exposed to biotech with the Fed on a raising path...
Stocktrader
Hi Stocktrader,
I think TRIL is going higher. It is on a mission it seems after I sold some. Thanks for the pick.
Joseph
Hi Stocktrader and Joseph,
Good move in all your biotechnology stocks.
Booking profit is a good thing.
Saleem
Hi Saleem,
I must say that it is stocktrader who gave me confidence in buying some of these biotech stocks. We have been very lucky. I am also fully aware of some of the dangers if some of the trials fail and these stocks can plunge. I had 1200 shares of TRIL. But I sold 600 of them this morning at 15.90. Anyway I can never complain. Thanks for your kind words and good luck with your trades.
Joseph
Hi Saleem,
Higher rates are not bothering the market at all today, even in sectors that should be most impacted. I'll be patient some, but the nearly 30% cash I have is burning a hole in the pocket now! :)
Portfolio: TRIL, URI SPLK QRVO, DKS SWN, ZYNE, CNAT, cash 29.3%
Stocktrader
Hi Stocktrader,
I know its very hard for you to sit with 30% cash on an up day.
I am sure, you will resolve this issue by end of the day.....
Saleem
Hi guys,
I am highly considering buying some LABD to protect my biotech positions. Rising interest rates have me quite fearful, but also lingering election concerns could be covered by the hedge also.
Stocktrader
Hi guys,
Bought some LABD @ 16.72
I actually feel much better now about holding the large TRIL position :) I think this could actually be a good general market hedge for my purposes. I might be able to add back other stocks knowing I have some protection.
Stocktrader
Hi Stocktrader,
You get A++++ for many ideas.
Good luck with LABD strategy and more to come
Saleem
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