Indices are mixed on slumping oil and change in investors allocation.Dow hit a new all time high intraday.
S&P 500 @ 2163.27, low 2157.73, high 2171.36
Internals are mixed
Oil Down $1.16
Gold Down $6.20
Canadian $ Down 43 tick @ .6417......new low in almost a year
VIX UP 5.79% @ 14.99
In my portfolio
Sold AAPL @ $105.374
Bought TCK @ $22.74
Portfolio AMD BIDU CNQ CMG TCK TWLO WB
Most stocks are down
@ 11.56 following are green :
AMD CMG TCK TWLO AKS GWPH SPLK ZYNE
TWTR NTNX SBUX COH DNKN FFIV YUM
FNSR FSLR SPWR GS AGU CSOD MS
MCD SLW X M PANW LRCX....
BLOG does NOT give buy or sell.
ps...had to go for some chores, thus early BLOG.
Saleem
4 comments:
Hi Saleem,
Bought LYB @ 81.68
With greater economic growth, and my already positive outlook on their earnings power for next year, I felt like now was the time to enter.
I was worried about lower oil prices right after the election, which did happen, but looks like maybe they have found a stability point now. I read a report today that the lower corporate tax rate proposed by Trump could improve LYB's earnings by 28% with all else equal. That makes their already-reasonable valuation even cheaper.
The chart shows the formation of a nice base above the 50- and 200-DMAs with moves heading toward the upside now.
Stocktrader
Hi Stocktrader,
I got some DKS calls ahead of earnings today. Hope they report good results and guide higher as Sports Authority traffic should provide some boost. I played the same on last earnings and they benefited by SA.
Hi explorer,
Good luck with the DKS calls! The WSJ put out a late day article that helped bring the stock down from its highs: http://www.wsj.com/articles/dicks-sporting-goods-looks-winded-1479153124
My biggest fear is just sluggish industry sales trends despite DKS's specific tailwinds from the recent bankruptcies in the sector. It was enough to keep me on the sidelines given the run and valuation. It's hard to know how much good news is "expected". More than anything I hate when a company reports a good quarter and guidance but still goes down. That said, the tailwind effect should help the stock into next year so I don't think it can fall too much even on lackluster results. My range of outcomes is -10% to +15%.
Stocktrader
Hi Stocktrader & Explorer
Good luck with LYB & DKS....
Was out whole day....
Explorer, thanks for your appreciative note.
Saleem
Post a Comment