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
10 comments:
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
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
Hi Stocktrader,
Good luck with LABD.
Added 70% BIDU @ $167.67
Thanks for TCK news, much appreciated.
Saleem
Hi Saleem,
Good luck with more BIDU!
I am already regretting this LABD position. It seems the market is very excited still :)
Stocktrader
Hi Stocktrader,
IF you could sell then it should be done.
I hope you do not have to wait 3 days...
Saleem
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
Hi Saleem,
Added a little more little AKS @ 8.03 again :)
Now nearly a 10% position.
Stocktrader
Hi Stocktrader,
Good luck with AKS.
Saleem
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
Hi Stocktrader,
You are following your research and conviction, more new all time highs to come......
Saleem
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