Indices closed UP.
S&P 500 @ 2159.73, high 2163.95, low 2155.15
RSI @ 50.08
CMF @ -0.043
Internals were :
UP volume led by 2.22 to 1 in NYSE & 1.84 to 1 in Nasdaq
Advancing stocks led by 1.55 to 1 in NYSE & 2.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 99 in NYSE & 96 in Nasdaq
VIX Down 4.70% @ 12.99
Oil @ $49.83
Gold @ $1268.60
AH ER..YUM Down 2.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong on better than expected US data which more than negated private payroll report.Internals were strong. Oil was strong. Thursday should be interesting as it is one day before jobs report.we may get a green close to confirm this move. Many sectors are looking strong especially technology.Stay with your high comfort stocks.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem and Stocktrader,
This morning I have been busy with hurricane shutters. Hope Mathew will not create havoc for south Florida. Last minute purchasing is also done. Let us hope for the best.
Stocktrader, What a wise move with LABD. Well done. Keep up the good work.
Good luck
Joseph
Hi Joseph,
Stay safe.
Saleem
Hi Joseph,
I wish the best for you during the storm. It sadly even looks like it might loop back around and hit again, although the track could certainly shift by then. You will be in my thoughts for these upcoming days.
Stocktrader
Hi Saleem,
Rebought WLH @ 17.81
I still like the valuation, geography, and current execution of this company very much. I think it's ok to buy the strongest of a group, even if that group is under pressure. If the pressure ever lifts, WLH could lead the charge.
Stocktrader
Hi guys,
If it wasn't for this nagging thought that ZYNE is going to do a secondary, I'd have filled back up on that one also. It remains extremely undervalued.
Portfolio: TRIL, URI SPLK QRVO, LABD, WLH DKS SWN, ZYNE, CNAT, cash 12.9%
With the LABD position, my "long exposure" is probably <75%, although I'm in every stock I want to be in and have great protection. One of my plans was to actually sell the LABD by close as I think it quickly already served its purpose--I'm not sure I need more protection now as I feel my stocks can stand on their own. I also feel like the jobs report will not be "scary strong" tomorrow which could give relief to bonds and stocks.
Stocktrader
Hi Stocktrader,
Good luck with WLH.
Good luck with your strategy for LABD.
Saleem
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