Indices closed UP.
S&P 500 @ 2262.53, high 2267.47, low 2258.21
RSI @ 68.62
CMF @ 0.065
Internals were :
UP volume led by 1.18 to 1 in NYSE & 1.70 to 1 in Nasdaq
Advancing stocks led by 1.66 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk highs were leading by 89 in NYSE & 115 in Nasdaq
VIX Down 4.02% @ 11.71
Oil @ $52.12
Gold @ $1142.70
Stocks which were UP 1% or more included AMD
CHK PI NVDA AMZN NTES VRX OLED
QRVO MSFT CSIQ CIEN NFLX SWIR
AEM AAL LRCX.....
AH ER ...NPTN Down 19.06%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE continues to slowly grind higher, oil & commodities stocks are taking a breather, Chinese stocks were lower again. Rotation are more pronounced now than before, Technology is behaving much better and look stable. A balanced approach may be better to stay ahead. Try to prune out non performing stocks before Next Tuesday deadline for 2016.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Two positive notes on TECK this morning...hopefully will do some good...
07:55 EDT TECK Teck Resources initiated with a Buy at MKM Partners
MKM Partners analyst Daniel Scott initiated Teck Resources with a Buy and a $29 price target saying he believes coal is poised to continue its run into at least 1H 2017. Scott said Teck's geographic advantage against other North American producers, its low cost open pit operations, its currency exchange rage advantage, and its 100 year reserve life are all investment positives.
06:37 EDT TECK Teck Resources upgraded to Outperform from Neutral at Macquarie
Stocktrader
Hi Saleem,
Sold FDX @ 199.00 ahead of earnings tonight to take profits.
Stocktrader
Hi Stocktrader,
Thanks for posting analysts upgrades on TECK.
Booking profit never hurts.
Saleem
Hi Saleem,
Bought HBAN @ 13.30
This is my new entry into financials. An analyst upgrade today really pointed out the positives including reasonable valuation still, increased earnings power from the recent merger, and high leverage to economic growth and higher interest rates.
Stocktrader
Hi Stocktrader,
Good luck with HBAN.
Added 25% AMD @ $ 11.38
Saleem
Hi Saleem,
Good luck with more AMD. It has been a rocket ship!
Stocktrader
Hi Saleem,
The action in QRVO (and other smartphone suppliers) makes it look like investors are expecting another miss and guide down for Q4/Q1. I might have been too early still. I may pare it back tomorrow when it is available to do so unrestrictedly.
Portfolio: TECK LYB CHK ZYNE SPLK, QRVO HBAN NEFF, ACIA CY PI M, cash 9.6%
Interestingly, my portfolio is starting to widen out a bit whereby I'm finding more ideas that may have good upside and therefore don't need concentrated positions just to stay fully allocated. If I'm right in any way, it's probably a good sign for the overall market still.
Stocktrader
Hi Stocktrader,
YES...market has broadened its appeal, thus a rotation is going on......
Not having a concentrated position is another strategy which works.....my max is 8 stocks based on my "impatient trading style"
Good luck with more stocks....
Saleem
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