Indices closed mixed.
S&P 500 @ 2362.82, low 2358.34, high 2365.13
RSI @ 78.39
CMF @ 0.442
Internals were :
Down volume led by 1.79 to 1 in NYSE & 1.21 to 1 in Nasdaq
Declining stocks led by 1.26 to 1 in NYSE & 1.51 to 1 in Nasdaq
Net new 52 wk highs were leading by 198 in NYSE & 167 in Nasdaq
VIX UP 1.47% @ 11.74
Oil @ $53.59
Gold @ $1233.30
AH ER...SQ UP 8.58%, LB Down 12.94%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was mixed but DOW still managed to close @ new all time high, 9th straight day of new all time high, a record not made in last 3 decades. S&P & Nasdaq rested and digested its gain. Fed is itching to raise interest rate due to anticipated policies. US$ was strong and oil was weak on supply fear.This is a strong bull market and does not want to give too much back on any down days. Stay with your conviction and show patience.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hi Saleem,
Oclaro selloff yesterday a buying opportunity, says Jefferies
Jefferies analyst James Kisner says his discussions with the company suggest yesterday's selloff in shares of Oclaro is overdone. In a research note partially titled "Much Ado About Nothing," the analyst recommends using the pullback as a buying opportunity. Oclaro noted that the next deadline for the U.S. Department of Commerce to extend ZTE's relief from trade sanctions imposed in early 2016 is coming up next week, Kisner tells investors. He believes the deadline will likely be a non-event with the most likely outcome being ZTE getting another extension. The analyst says he found Oclaro's commentary around the 5G opportunity in China and worldwide "very encouraging." Kisner keeps a Buy rating on the stock with a $14 price target.
Stocktrader
Hi Stocktrader,
Thanks for Jefferies positive take on OCLR.....it is my largest position now with yesterday's 50% add-on.
Sold BIDU @ $188.17.....they are reporting tonight...with rsi over 75...time to exit
Saleem
Hi Saleem,
Good luck with OCLR!
Nice profits on BIDU!
Bought MU @ 23.49 as it was on my wish list and pulled back some today.
Stocktrader
Hi Stocktrader,
Good luck with MU.
Saleem
Hi Stocktrader,
Sold AMD @ $14.10
Saleem
Hi Saleem,
Amazing run on AMD, great job! :)
Bought ZYNE @ 21.85 as it is on my wish list and pulled back some from the prior sell.
Stocktrader
Hi Stocktrader,
Good luck with ZYNE.
Saleem
Hi Stocktrader,
Added 33% TECK @ $20.85
TECK becomes my #1 weighting.
Saleem
Hi Saleem,
Good luck with TECK!
Here's a nice writeup on an analyst initiation of PI today:
http://blogs.barrons.com/techtraderdaily/2017/02/23/impinj-the-best-way-to-play-the-tipping-point-in-rfid-says-morgan-stanley/
I was talking to the wife on the phone and missed an entry I was eyeing...
Stocktrader
Hi Saleem,
Ugh, bought some PI @ 30.54
I've now completed my wish list from yesterday!
Portfolio: HBAN SPLK DAL BABA Z SWKS GM URI MU DFRG HUN ZYNE TECK CHK PI MJCO, cash 0.0%
Stocktrader
Hi Stocktrader,
Good luck with PI.....it's a good entry....easy $35 stock.
Saleem
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