Indices closed mixed.
S&P 500 @ 2271.89, high 2272.01, low 2263.35
RSI @ 59.05
CMF @ 0.148
Internals were :
UP volume led by 1.07 to 1 in NYSE & 1.61 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & 1.28 to 1 in Nasdaq
Net new 52 wk highs were leading by 73 in NYSE & 51 in Nasdaq
VIX UP 5.14% @ 12.48
Oil @ $51.08
Gold @ $1212.10
AH news...OCLR UP 8.24%, NFLX UP 8.06%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was weak @ open but managed to close near high of the day, internals improved and CMF is positive in all major indices, after being negative for a week. Sector rotation is happening on a daily basis, what is strong today, gets weak in 48 hours. Stay with high conviction stocks as they do surprise in a positive manner. Financials did well today.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
Amazing job with OCLR!
I made a few moves this morning:
Sold QRVO @ 59.47 to take profits
Added to GM @ 37.75 to bring it up to full position size
Added to ZYNE @ 18.82 on this dip and lack of negative catalysts now
Stocktrader
Hi Stocktrader,
Excellent trade with QRVO.
Good luck with more GM and ZYNE.
Saleem
Hi Saleem,
Well done with OCLR. I remember you even added more to your position. I feel that we should book profit Whenever we can. The future is always uncertain and there are lot of crooks in Wall Street. Good luck.
Thanks for the blog.
Joseph
Hi Saleem,
I remain skeptical of optical stocks until we see some Q1 guidance. I may have missed the good trade due to this fear...
I am still trying to get some HUN. I think the TiO2 business is much improved which should facilitate a nice price for its spinoff.
It is very hard to choose which stocks in my portfolio I should sell to raise cash. Many things still look attractive from a medium term valuation basis.
Stocktrader
Hi Stocktrader,
It would have been nice if you had sold ZYNE yesterday. We can't predict anything. Even Wall Street Gurus make mistakes. At least you have good profit with the stock.
Thanks for sharing the trades and good luck.
Joseph
Hi Saleem,
Sold MU @ 21.98
Multiple analyst and trading patterns have lessened my confidence in the stock this week. I thought this stock might be the best to raise cash.
Looking at HUN and PI for purchase.
Stocktrader
Hi Stocktrader and Joseph,
Thanks for your feedback re OCLR.
I have high comfort with this stock based on its 100G product.
When margin is improving it only means, they are ahead of competition.
I know wall street does not allow gains to last....but will keep this one for few quarters. ..unless gains are much higher.
Saleem
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