Thursday, February 16, 2017

Indices closed mixed....

Indices closed mixed.

 S&P 500 @ 2347.22, low 2338.87, high 2351.31

 RSI @ 76.47

 CMF @ 0.371

 Internals were :

 Down volume led by 1.72 to 1 in NYSE & 1.26 to 1 in Nasdaq

 Declining stocks led by 1.33 to 1 in NYSE & 1.30 to 1 in Nasdaq

 Net new 52 wk highs were leading by 189 in NYSE & 215 in Nasdaq

 Oil @ $53.36

 Gold @ $1241.60

 AH ER...PI Down 2.43%

 AH Futures Down

 AH Asian Markets Mixed

 AH Oil UP

 AH Gold Down

 About market, TAPE was under mild selling pressure due to overbought condition. Indices closed near high of the day which is a sign of buying near lows. Internals were weak and many stocks were down. This was a mild digestive phase of gains, which is a good thing. Stay diversified as there is more upside left. There is a closing BLOG only on Friday's around 7 PM.

 BLOG does NOT give buy or sell.

 Saleem




at

11 comments:

  1. josephFebruary 17, 2017 at 6:43 AM


    Hi Saleem and Stocktrader,

    Added TECK @ 21.04. It had a good report. I hope it will eventually go up.

    Market has been quite shaky these days. We may have to take some off the table to be at a safer side.

    Good luck

    Joseph

    ReplyDelete
  2. stocktrader_1996February 17, 2017 at 6:47 AM

    Hi Saleem and Joseph,

    Sold TECK @ 21.36

    After the vicious down move after earnings, I need to re-evaluate how I feel about the longer term outlook for the company.

    Stocktrader

    ReplyDelete
  3. Stocks100February 17, 2017 at 6:53 AM

    Hi Joseph and Stocktrader,

    This is what makes a market.

    Good luck with your decision on TECK.

    I am staying put with TECK.

    Saleem

    ReplyDelete
  4. ne-tigerFebruary 17, 2017 at 7:05 AM

    Thinking TECK has a little up potential:) What's up with PI? I'm hard to make money on it.

    ReplyDelete
  5. Stocks100February 17, 2017 at 7:29 AM

    Hi ne-tiger,

    PI is guiding lower for current quarter in both Sales and EPS...thus selling pressure.

    Saleem

    ReplyDelete
  6. stocktrader_1996February 17, 2017 at 10:55 AM

    Hi Saleem,

    Ugh, I was looking at SPWR yesterday because I liked the thesis put forth by an analyst about a bottom in fundamentals. I wanted to do more work on it, especially after the bad reaction yesterday, but it really took off today. Not sure where that puts me now...maybe I'll look for a retest of the 50 DMA if I still like the idea.

    Stocktrader

    ReplyDelete
  7. Stocks100February 17, 2017 at 11:10 AM

    Hi Stocktrader,

    SPWR has been trashed....still a good entry...

    Saleem

    ReplyDelete
  8. stocktrader_1996February 17, 2017 at 12:22 PM

    Hi Saleem,

    This market is amazingly resilient. I was expecting some selloff today ahead of the three day weekend to get a good entry on MU...it's not coming to me! lol

    Stocktrader

    ReplyDelete
  9. Stocks100February 17, 2017 at 12:33 PM

    Hi Stocktrader,

    Yes selling yesterday was muted by close.

    Too much money waiting to invest on any weakness.

    MU has been weak lately others semis doing well.

    Good luck with your next pick.

    Saleem

    ReplyDelete
  10. ne-tigerFebruary 17, 2017 at 12:56 PM

    spwr prob is a short sqeeze, csiq/jks/fslr more reasonable.

    ReplyDelete
  11. Stocks100February 17, 2017 at 1:33 PM


    Hi ne-tiger,

    I personally like FSLR.....technically it is behaving much better and has institutional support.

    Saleem

    ReplyDelete