Indices closed UP.
S&P 500 @ 2234.72, high 2235.57, low 2208.93
RSI @ 72.71
CMF @ 0.265
Internals were :
UP volume led by 3.78 to 1 in NYSE & 2.89 to 1 in Nasdaq
Advancing stocks led by 3.31 to 1 in NYSE & 1.81 to 1 in Nasdaq
Net new 52 wk highs were leading by 422 in NYSE & 377 in Nasdaq
VIX UP 3.65% @ 12.22
Oil @ $49.79
Gold @ $1177.50
Stocks which were UP 2% or more included BIDU WB
PI AKS QRVO TWTR UA V LULU SBUX JKS LEN
MSFT TSLA CSIQ EBAY MA RIG FEYE FSLR
SPWR MU CIEN CNX SWIR CSOD MGA
ORCL CRUS AKS AAL X LRCX.....
AH ER .....LULU UP 14.07%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE went wild with enthusiasm for changes in Washington policies and priorities. Dow & S&P 500 and Transports went to new all time highs, Transport made into record books after a gap of 2 years, this is a major confirmation of this uptrend. Stock market is behaving like roaring 60's. There is more to this rally as we move forward, this is a real transformation of "ideas into action". IF you feel certain sectors are overbought, think again, they have just started on a major bull run, IF you need a hint, look @ their all time highs on today's chart, way way more to go.
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hi Saleem,
Added to TECK @ 24.68 with my small remaining cash.
Portfolio: MET (~22%), LYB TECK FDX M PI CHK SPLK (~9%), ZYNE CY OCLR (~5%), cash 0.0%
Yesterday I was nervous and was planning to trim. After having a random conversation last night with a friend who needs freed up money for a house downpayment in April, my advice to him was to sell in the last days of December since I suspected there would be almost no selling pressure this calendar year. Given that no one wants to take capital gains now when they could wait a few weeks and pay taxes a whole year later instead, coupled with the fact that capital gains tax rates will likely be lower next year, I think the market could continue to levitate given the "no sellers" environment.
This makes me now think the market is not as vulnerable as I suspected yesterday. I will mostly stand pat with my investments unless something dramatic happens, trying to be opportunistic on new ideas if they arise.
Stocktrader
Hi Stocktrader,
Sold WB @ $48.25
Saleem
Hi Saleem,
Wonderful quick run on WB!
Stocktrader
Hi Stocktrader,
Bought TECK @ $24.03.
Saleem
Hi Stocktrader,
Sold ZYNE @ 14.80. Thanks for the pick.
Joseph
Hi Saleem and Stocktrader,
Bought TECK @ 24.00.
Good luck to all of us.
Joseph
Hi Stocktrader,
Sold TWLO @ $31.14
Saleem
Hi Joseph,
Good luck with TECK...first time we all have same stock....start of a good thing!
Saleem
Hi guys,
Great patience on finding the perfect TECK entry. Let it run for us now! :)
I'm keeping my speculative position in ZYNE because it is acting so well, but very nice profits, Joseph!
TWLO's chart looks troubled. Nice call to get out, Saleem.
Stocktrader
Hi Stocktrader,
I had an opportunity to buy back more shares when ZYNE came down after selling part of my holding. If I had bought more it would been great, but no regret. If it pulls back, I will try to buy back.
Thanks
Joseph
Hi Stocktrader,
ZYNE started moving up again. May be stock was waiting for me to get out... Just kidding.
Good luck with your trades. You deserve to get more and more profit...
Joseph
Hi Stocktrader,
Added 60% CNQ @ $32.76
Saleem
Hi Saleem,
Nice add. After resting, I think these energy stocks are re-charged! :)
Stocktrader
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