Indices closed UP.
S&P 500 @ 2212.23, high 2212.78, low 2202.21
RSI @ 65.28
CMF @ 0.231
Internals were :
UP volume led by 2.53 to 1 in NYSE & 2.32 to 1 in Nasdaq
Advancing stocks led by 2.45 to 1 in NYSE & 1.98 to 1 in Nasdaq
Net new 52 wk highs were leading by 255 in NYSE & 298 in Nasdaq
VIX Down 2.88% @ 11.79
Oil @ $50.93
Gold @ $1170.10
Stocks which closed green included BIDU TWLO
PI NVDA NEFF AMZN VRX AMD LVS LEN
QRVO NFLX CHK TK RIG FEYE CSIQ
LNG MU WYNN GS AGU COH MGA
SWIR CSOD ORCL PCLN MS SLW
CRUS AAL X M LRCX......
AH ER...PLAY UP 12.50%, WDC UP 4.81%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE continued its bull run with buying interest, Dow made it into another all time high @ close. Many stocks are outperforming overall market. Diversification is key to making money in this TAPE, some stocks rest for a day, then jump to new all time highs. Show conviction and patience in letting profit run. Some stocks can be for long term but most should be for near term strategy.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hi Saleem,
Sold that last bit of TRIL @ 7.10
Stocktrader
Hi Saleem,
I'd sell ZYNE if I could. Trump's comments about drug prices should shake the whole sector, probably through the rest of the year.
Stocktrader
Hi Saleem,
I am really eyeing OCLR here. I think they'll see a rush of orders by Chinese customers ahead of any potential restrictions or tariffs in trade.
Stocktrader
Hi Saleem,
Took a speculative size (5%) position in OCLR @ 8.42
The huge 100G build-out in the world is in the early stages and this company is well positioned. Trade fears are a concern, hence the 5% weight.
Stocktrader
Hi Stocktrader,
Good luck with OCLR.
Your PI has gone into orbit..
Great pick $$$$$
Saleem
Hi Stocktrader,
Sold TRIL @ 6.92. You are right, the stock might go further down. The price action shows that the people are selling the stock. I try to get a better price, but in vain. It is always good to take a loss and move on. Good luck with your trade.
Joseph
Hi Saleem,
Yes, PI was a good buy at the right time. Nice to have a little extra booster as the year winds down.
Hi Joseph,
TRIL was definitely disappointing. Good to move on when the story has faded. If the story changes, we can revisit.
Stocktrader
Hi Saleem,
The action today is the least healthy in this run. It reeks of that kind of panic buying we see at a top. I am looking to pare back positions.
Stocktrader
Hi Stocktrader,
You have a huge reason to protect your gains.....take a back seat for 16 trading days.
Good luck in sell sell sell.
Saleem
Hi Saleem,
I looked at my positions. I'm not really uncomfortable with any of the big positions' valuations. The worst of the group are FDX PI ZYNE CY OCLR and only FDX and CY are eligible for non-restrictive sale today. FDX is part of the broad transport group breakout, so possibly has more room to run, plus doesn't move fast enough to hurt me too badly in the event of a decline. As for CY, it's a smaller position and has speculative characteristics which are desirable. I guess I'm on hold for today...
Portfolio: MET(2x), LYB FDX M CHK PI SPLK, TECK, ZYNE CY OCLR, cash 2.2%
Stocktrader
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