Indices closed down.
S&P 500 @ 2088.66, low 2085.23, high 2102.56
RSI @ 29.14
CMF @ -0.251
Internals were :
Down volume led by 1.29 to 1 in NYSE & 2.42 to 1 in Nasdaq
Declining stocks led by 1.52 to 1 in NYSE & 1.91 to 1 in Nasdaq
Net new 52 wk lows were leading by 92 in NYSE & 195 in Nasdaq
VIX UP 14.29% @ 22.08
Oil @ $44.66
Gold @ $1303.30
AH ER..QRVO Down 10.34%, GPRO Down 19.92%
TWLO reported a beat in Q3 Sales and EPS and guided UP in Q4 Sales and EPS...it was rewarded with further $3 per share loss in AH......but after excellent conference call, it ended AH session down only 1.84%.....
Here is the actual result Q3 Sales expectations $66.79 million.
actual Sales $71.5 million, EPS expected loss 8 cents, actual EPS loss 4 cents.
Q4 Sales guidance expected $68.98 million, guiding $72.5 to $74.5 million, EPS expected loss of 6 cents, guiding loss of 5 cents......nothing is good enough these days......
AH Futures UP
AH Asian markets Down
AH Oil & Gold UP
About market, TAPE has been slaughtered irrespective of stocks, look @ RSI of 29.14 in S&P 500, only @ major bottom. This is more than ridiculous in terms of being deeply oversold, a major bounce is imminent, which even this crazy election cannot postpone it. All i have done, is to ensure, that my diversified portfolio is ready for any bounce and then will build from there. This relentless selling in all stocks makes no sense. Buy quality stocks @ today's level. There is a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Sold WLH @ 17.75
They guided for lower deliveries in certain markets, which they are hoping to make up in other areas, but could impact gross margins.
I still like the company and will evaluate how it trades from here.
Stocktrader
ZYNE is showing some life today but TRIL is lagging. I got into this yesterday at 7.75 I am still down on ZYNE too. Hope it will pick up the speed but earnings could impact
Thanks,
Explorer
Hi Stocktrader,
Good luck with your next pick.
Saleem
Hi Saleem,
I am torn between an insurer (MET/PRU) or generic market exposure (TNA). I feel the market has bottomed as Clinton's chances to win are rising again. We might have the relief rally early...
Stocktrader
Hi Saleem,
Bought TNA @ 65.30
I decided to go with TNA because in the early stages of a rebound from oversold conditions, this instrument performs best. Basically when all stocks rebound a similar percentage, the 3x bull can outperform almost all of them individually.
Stocktrader
Hi Stocktrader,
Based on imminent market rally, go with TNA.
Saleem
Hi explorer,
I fear that ZYNE is receiving speculative flows due to the prospects of positive marijuana votes in certain states on Tuesday. I don't think the vote either way should influence the fundamental aspects of the company, and therefore might be susceptible to a "sell the news" reaction.
That said, I think fundamentally the stock remains undervalued and from a longer perspective is fine here. The company will probably look to raise cash soon if not acquired.
Stocktrader
Hi Saleem,
Portfolio: TNA LYB FDX TRIL ZYNE QRVO, ACIA SPLK DKS, AKS, CNAT, cash 0.0%
If ZYNE keeps running next week, I might try and sell that to buy MET ahead of the election results, and then buy it back when I swap out of TNA. I also need to find a way to get housing exposure back with WLH or IBP on my radar.
Stocktrader
Hi Stocktrader,
Good luck with your Trump / Clinton strategy.....
Saleem
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