Indices closed down.
S&P 500 @ 2249.26, low 2244.56, high 2254.51
RSI @ 56.75
CMF @ 0.014
Internals were :
UP volume led by 1.19 to 1 in NYSE & .92 to 1 in Nasdaq
Advancing stocks led by 1.41 to 1 in NYSE & .97 to 1 in Nasdaq
Net new 52 wk highs were leading by 31 in NYSE & 32 in Nasdaq
VIX UP 3.24% @ 13.37
Oil @ $53.77
Gold @ $1157.70
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was under mild selling and it feels like most of the selling has already taken place.I am expecting TAPE to find footing here and go UP. Internals were half decent today, which gives me confidence, that selling looks tired. I have completed juggling my portfolio for 2017. It is important to look ahead and see which sectors are ready to move UP. Many financials, base metals and even oil stocks have pulled back to support area, now they should outperform in near term. There is only a closing BLOG around 7 PM on Friday's.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteGood luck with CNQ. I definitely still like energy here.
I have been away the last few days as a small retinal tear and detachment that got quick-fixed with a laser two weeks ago turned into a bigger problem and they had to redo my whole left eye. I won't have proper vision in it for about a month now as it recovers but hopefully it comes back enough by next week that I can restart my stock activities with comfort.
Happy New Years to everyone! :)
Stocktrader
Hi Stocktrader,
ReplyDeleteSad to hear about your eye issue, with proper rest and healing time, it should be back to normal health.
Streaming quotes is very taxing for eyes, try to stay away.
Happy new year and good health to you and your family.
Saleem
ReplyDeleteHi Stocktrader,
As you are resting and healing, I would like you to know that we missed you these days. Hope you will be feeling fine.
Take care
Joseph
Hi guys,
ReplyDeleteThanks for the words of encouragement--it has certainly been a disruption I never expected.
Added to HBAN @ 13.20
My plan was always to add at the end of the year after most/all of the rebalancing effect happened. It is now barely my largest position at 10.3% weighting.
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with heavy weighting HBAN.
Saleem
Hi Saleem,
ReplyDeleteBought half OCLR @ 8.95
I really like telecom equipment for this year assuming China/US trade relations don't mess it up.
ACIA has a huge insider lockup next Friday (I think, will have to look that up again) and it has been my plan to add to my ACIA position on that morning.
Stocktrader
Hi Saleem,
ReplyDeleteAdded to CHK @ 7.03
With energy prices higher and CHK's debt load lower, they seem positioned to profitably move forward.
Stocktrader
ReplyDeleteHi Stocktrader,
OCLR is rumored to be a takeover target for FNSR...thus an interesting timing.
CHK behaving better than most oil....
Good luck with all add on and strategy for ACIA.
Saleem
Hi Saleem,
ReplyDeleteI heard that rumor also about OCLR after FNSR upsized its bond offering a couple weeks ago. I don't actually think FNSR is the right size/fit for that transaction, but there are plenty others that may like an OCLR add-on. It provides potential upside for my trade other than through earnings surprises.
Stocktrader
ReplyDeleteHi Saleem and Stocktrader,
As New Year approaching, I want to express my heartfelt greetings for the New Year 2017 and thank you both for your hard work and dedication. All those who followed the blog would have benefited from your trades. Let us hope New Year will bring us good luck and prosperity.
I just happened to see a beautiful and moving gem of a tedx talk. Watch it on a good quality screen. Hope everyone will enjoy it....
https://www.youtube.com/watch?v=gXDMoiEkyuQ
Thank you............. thank you ...........
Joseph
ReplyDeleteHi Joseph,
Sincere appreciation for your ongoing support for this BLOG content and information flow.
I hope you have a very happy new year along with your family.
Saleem