Indices closed mixed.
S&P 500 @ 2160.77, high 2162.93, low 2150.28
RSI @ 50.41
CMF @ - 0.015
Internals were :
Down volume led by 1.24 to 1 in NYSE & 1.26 to 1 in Nasdaq
Declining stocks led by 1.26 to 1 in NYSE & 1.54 to 1 in Nasdaq
Net new 52 wk highs were leading by 66 in NYSE & 45 in Nasdaq
VIX Down 1.15% @ 12.84
Oil @ $50.44
Gold @ $1253.00
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE fought is way back from triple digit loss to almost unchanged level, on higher oil. It is all about jobs report @ 830 AM, expectations is job growth of 168K, i expect actual to come in higher after back to back below expectations number. How much higher will determine IF we sell off immediately or slightly higher, means rally. There is a closing BLOG around 7 PM on Friday's.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteSold LABD @ 18.64
I feel I don't need the hedge anymore.
Stocktrader
Hi guys,
ReplyDeleteAdded to ZYNE @ 13.96
Oh well, PT $22 from analyst today really spiked the price. I not always a great trader, but I know the stock is very undervalued still, so I'm ok rebuying even here, especially if it starts to get more recognition.
Stocktrader
Hi Saleem and Strocktrader,
ReplyDeleteThanks for your thoughts and prayers. The hurricane had very little impact on south florida except for the power outage for few hours. This morning i removed all the hurricane shutters.
Regarding market, things look bright for both TRIL and ZYNE. Stocktrader deserves kudos..
Good luck to everyone.
Joseph
Hi Joseph,
ReplyDeleteGreat news!
Yes, TRIL and ZYNE both continue to be juggernauts.
Stocktrader
Hi Saleem,
ReplyDeleteAdded to SWN @ 13.92
With natural gas prices continuing to rise, the estimates for this company are way too low. Mizuho initiated with a $20 PT on Wednesday.
Stocktrader
ReplyDeleteHi Guys,
Bought some more ZYNE @ 13.66.
Joseph
Hi Joseph,
ReplyDeleteNice snag! I hope it works its way higher now after consolidating here.
Stocktrader
Hi Stocktrader,
ReplyDeleteYou have been very successful in buying some of these stocks. It has worked so far. The problem with my investment strategy is that I don't fully invest. I have almost 55% cash in my retirement account. In case the stock comes down, I try to average it down and see if I can get out of it with minimum loss. Thanks for all your help.
Let us hope our stocks move higher and higher.
Joseph
This comment has been removed by the author.
ReplyDeleteHi Stocktrader and Joseph,
ReplyDeleteYou both on a roll with ZYNE and TRIL.
Good luck with more SWN.
Joseph,I am glad you remained safe.
Saleem
Hi Joseph,
ReplyDeleteHaving 55% cash is not a bad thing.
It is execution which matters.
You can grow your portfolio with 45% invested.
Saleem
ReplyDeleteHi Stocktrader,
I have been very successful this year with your help. Thanks so much.
Joseph
Hi Stocktrader,
ReplyDeleteMACK is down almost 8%. The CEO resigned and they reduced the workforce by 22%. It may not be good to buy the stock. What do you think?
Joseph
Hi Stocktrader,
ReplyDeleteMACK is down almost 8%. The CEO resigned and they reduced the workforce by 22%. It may not be good to buy the stock. What do you think?
Joseph
Hi Joseph,
ReplyDeleteThanks for your kinds words. I try to find stocks with the right stories and valuation to give them a long runway. It has been working in both biotech and other areas in recent months :)
I think MACK is not buyable for now. The threat of financing still overhangs, and I did not take much comfort from the sharp reduction in R&D. It tells me they are capped in terms of drug capabilities.
Stocktrader
ReplyDeleteThanks Stocktrader for your view on Mack.
Joseph
Hi Joseph,
ReplyDeleteMore generally, I think it's too late in the year to try to pick up a loser. Buying a market dip of a winner is the best idea.
Stocktrader
Hi Saleem and Stocktrader,
ReplyDeleteThank you for the blog and valuable comments. I silently follow this thread and I am similar to Joseph with fulltime job.
I got in ZYNE few days ago at 13. Let it run...
I have some calls on NXPI. Any thoughts in QCOM coming up with an offer?
Thanks
Explorer
Hi explorer,
ReplyDeleteI think NXPI is a great fit for QCOM. I'd stick with the trade, but the timing is still tricky when you are playing with options. I think there could actually be other potential acquirers lurking too.
Stocktrader
ReplyDeleteHi Stocktrader,
Sold 60% CMG @ $631.50
Added 200% AMD @ $6.77
Added 25% VRX @ $23.21
Added 40% LULU @ $58.41
Saleem
Sorry i meant $431.50 on CMG
ReplyDeleteSaleem
Hi Saleem,
ReplyDeleteThis was a pretty tough day to figure out. Good luck on your adjustments!
Today was the first underperforming day I had this week and it wasn't even bad.
Portfolio: TRIL, URI AAPL QRVO SWN SPLK, DKS WLH ZYNE, CNAT, cash 7.0%
I was going to trim URI but didn't get the price I wanted after I'd actually decided to trim. I looked hard at trimming TRIL also--I think it is due for a rest, potentially a longer one.
Interest rates were tamer than people made it seem today. The 10-yr yield was actually down, contrary to what sounded like interest rate panic all day. I'm hoping for an up Monday to potentially trim some stocks. The warnings from HON and PPG were pretty intense, and although I don't have much exposure to those names or their industries, it could signal a tougher corporate environment for profits.
Stocktrader
Hi Saleem,
ReplyDeleteScratch the underperforming comment. Even though I was down .28% today, the S&P and $RUT were both down more. It was a nice week :)
Stocktrader
ReplyDeleteHi Explorer,
Thanks for visiting my BLOG.
NXPI calls needs to be monitored for expiry and your "deep in the money status"
QCOM deal should be done shortly, even by Monday$$$$.
Good luck with your position in ZYNE & NXPI.
Saleem