Indices closed UP
S&P 500 @ 2151.33, high 2154.79, 2146.91
RSI @ 51.01
CMF @ 0.070
Internals were :
UP volume led by 1.31 to 1 in NYSE & 2.34 to 1 in Nasdaq
Advancing stocks led by 1.51 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk highs were leading by 99 in NYSE & 74 in Nasdaq
VIX Down 2.40% @ 13.02
Oil @ $50.52
Gold @ $1263.70
Stocks which were UP 2% or more included AMD AMZN
ACIA BIDU QRVO OLED MSFT SINA FNSR YELP
CRUS CSOD......
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold Unchanged
About market, TAPE was strong and closed near high of the day, internals were all positive. Nasdaq leaders closed @ high of the day. Mergers invoked a vote of confidence in valuation of this market. S&P 500 & Dow are ready to climb over 50 DMA, which will be a strong technical indicator. It is all about AAPL after close on Tuesday, lot of concern about valuation and different metrics like iphone sales number. CMG is another beaten down stocks reporting AH on Tuesday. It is never easy to play earnings, but i am in both stocks.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
This is probably much too late, but sold SWN @ 11.08
I don't trust the natural gas thesis anymore with forecasts of the warmer winter and SWN is not particularly well positioned to take advantage due to their geography. This stock was one of my biggest mistakes the second half of this year...
Stocktrader
Hi Stocktrader,
You had many winners all year. SWN was just a blip in an outstanding stock picking.
Saleem
Hi Stocktrader,
Added 35% AAPL @ $117.58
Saleem
Hi Saleem,
Good luck with more AAPL. I expect an initial "sell the news" reaction to AAPL's earnings but could rebound in short order, and I think the next 12 months is bright for the company. With the huge 10-yr anniversary release upcoming, I think it is a must-own next year.
Stocktrader
Hi Saleem,
Sold URI @ 76.51
The market action today is horrific, and I think URI is especially vulnerable given CAT's outlook for North American construction and recent commentary from URI analysts about higher competition and slowing markets.
In some ways this is only an attempt to sell now and buyback lower given I love how management is handling the environment and analysts/street remains pretty bearish. The valuation is not particularly attractive though given the nearly flat earnings YoY outlook with potential for weakening. If we want a stock like that, we can look at GM?
Stocktrader
Hi Stocktrader,
Good luck with your pile of buying power.
Saleem
Post a Comment