Indices closed UP.
S&P 500 @ 2279.55, high 2289.14, low 2272.44
RSI @ 55.67
CMF @ 0.253
Internals were :
UP volume led by .78 to 1 in NYSE & 1.09 to 1 in Nasdaq
Advancing stocks led by .92 to 1 in NYSE & 1.01 to 1 in Nasdaq
Net new 52 wk highs were leading by 143 in NYSE & 110 in Nasdaq
VIX Down 1.50% @ 11.81
Oil @ $53.88
Gold @ $1208.30
Stocks which were UP 1% or more included AMD FCX TECK
MU BAC NVDA AMZN BAC FB AAPL COH TK YELP
FSLR DATA SWIR CSOD CRUS LRCX......
AH ER....QRVO Down 8.13%, CRUS Down 9.63%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE starting strong on above consensus economic data in US & China. Rally faded quickly, by close we barely were UP. Internals were weak. There is still hangover from immigration issues and related economic impact. Stay with high comfort stocks and stay away from speculative bets. Earnings are becoming challenging for most in terms of guidance.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem and Stocktrader,
Sold VRX @ 13.90 and TECK @ 25.90.
Whenever our president opens his mouth, something happens. It is good to trade whenever we can to make some money.
Thanks for all your help. Good luck.
Joseph
Hi Joseph,
Very nice trades!
Rinse and repeat :)
Stocktrader
Hi Joseph,
Booking profit is good.
World stock market including US is independent of any politician, it has a discounting mechanism to deal with anything.
Follow the trend and you will be more than OK.
Saleem
Hi Saleem,
Trimmed a little NEFF @ 15.50
I didn't actually get all I wanted to sell but have left the order in. URI indicated that rental rates are still a headwind, and without the tailwind of management initiatives and an acquisition, I'm not sure NEFF can have the same kind of results. We seem far away from an infrastructure bill also.
Stocktrader
Hi Stocktrader,
Good luck with your strategy for NEFF.
Saleem
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