Wednesday, November 16, 2016

Indices closed mixed......

Indices closed mixed.

 S&P 500 @ 2176.94, low 2172.20, high 2179.22

 RSI @ 62.29

 CMF @ 0.051

 Internals were :

 UP volume led by .58 to 1 in NYSE & 1.29 to 1 in Nasdaq

 Advancing stocks led by 1.11 to 1 in NYSE & 1.11 to 1 in Nasdaq 
( not a typo )

 Net new 52 wk highs were leading by 87 in NYSE & 172 in Nasdaq

 VIX UP 2.62% @ 13.72

 Oil @ $45.57

 Gold @ $1223.90

 AH ER...NTAP UP 10.8%, FSLR Down 12.34%

 AH Futures UP

 AH Asian Markets Mixed

 AH Oil Down

 AH Gold UP

 About market, TAPE was mixed but Nasdaq showed strength. Sector rotation is playing a huge role since Wednesday, first it was financial, then Technology and Shipping stocks. Some gets overbought in the process. Stay with your high quality stocks, this rally has lot of momentum. Buy strategically when price is right.

 BLOG does NOT give buy or sell.

 Saleem
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10 comments:

  1. Stocktrader2November 17, 2016 at 5:25 AM

    Hi Saleem,

    The morning good TCK news:

    05:30 EDT TCK Teck Resources upgraded to Overweight from Underweight at Barclays

    Barclays analyst Matthew Korn double upgraded Teck Resources to Overweight from Underweight and raised his price target for the shares to C$36 from C$22. The analyst sees "meaningful upside" for the shares amid higher commodity prices and better near-term cash flow generation.

    Stocktrader

    ReplyDelete
  2. stocktrader_1996November 17, 2016 at 6:59 AM

    Hi Saleem,

    Bought some LABD @ 15.08 to protect my biotech holdings in case the market starts to focus on higher rates and pricing problems again.

    Portfolio: TRIL MET ZYNE LYB NEFF LABD SPLK AKS, cash 27.5%

    Stocktrader

    ReplyDelete
  3. Stocks100November 17, 2016 at 7:15 AM

    Hi Stocktrader,

    Good luck with LABD.

    Added 70% BIDU @ $167.67

    Thanks for TCK news, much appreciated.

    Saleem

    ReplyDelete
  4. stocktrader_1996November 17, 2016 at 8:11 AM

    Hi Saleem,

    Good luck with more BIDU!

    I am already regretting this LABD position. It seems the market is very excited still :)

    Stocktrader

    ReplyDelete
  5. Stocks100November 17, 2016 at 8:22 AM

    Hi Stocktrader,

    IF you could sell then it should be done.

    I hope you do not have to wait 3 days...

    Saleem

    ReplyDelete
  6. stocktrader_1996November 17, 2016 at 8:42 AM

    Hi Saleem,

    Added a little AKS @ 8.03 based on still rising futures pricing and X's multi-year breakout today.

    I can sell LABD tomorrow based on the purchase using cash made available from Tuesday's sells.

    Stocktrader

    ReplyDelete
  7. stocktrader_1996November 17, 2016 at 8:45 AM

    Hi Saleem,

    Added a little more little AKS @ 8.03 again :)

    Now nearly a 10% position.

    Stocktrader

    ReplyDelete
  8. Stocks100November 17, 2016 at 10:18 AM

    Hi Stocktrader,

    Good luck with AKS.

    Saleem

    ReplyDelete
  9. stocktrader_1996November 17, 2016 at 10:54 AM

    Hi Saleem,

    It was a big hit I took after TRIL got cut in half. I'm happy to report the portfolio is back trading at all-time highs. If you just keep making the best decisions you can each day, the unforeseen events will eventually fade from memory :)

    Stocktrader

    ReplyDelete
  10. Stocks100November 17, 2016 at 11:11 AM


    Hi Stocktrader,

    You are following your research and conviction, more new all time highs to come......

    Saleem

    ReplyDelete