Indices closed UP.
S&P 500 @ 2358.57, high 2363.78, low 2337.63
RSI @ 52.40
CMF @ 0.018
Internals were :
UP volume led by 3.55 to 1 in NYSE & 1.66 to 1 in Nasdaq
Advancing stocks led by 2.91 to 1 in NYSE & 1.62 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 87 in Nasdaq
VIX Down 7.76% @ 11.53
Oil @ $48.37
Gold @ $1255.60
Stocks which were UP 1% or more included OCLR AKS PI
OLED BAC C GS MS CMG FCX FB AMZN UA AAPL
COH TSLA CSIQ SU YUM CHK TK RIG FEYE WB
TRIP KORS NKE KBH OPK AAL X M CNX.....
AH ER.....RH UP 15.79%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE staged a rally and build on reversal yesterday, a kind of TAPE which everyone loves. Internals were strong and oil staged a mini uptick. Indices have been languishing for a while and was oversold. Hopefully we go to series of new all time highs in short order. Stay diversified as rotation keeps happening.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem and Stocktrader,
At last the CHK is going up. I believe it is because of Trump energy and coal policies. Hope it sustains. Good luck.
Joseph
Hi Joseph,
Here's an analyst call from last week and there was another one yesterday with the same price target (I don't have details on that one). Investor sentiment has finally shifted back to energy, but CHK had done so much already to improve its efficiency and balance sheet. I think energy prices might be stuck around these levels, but CHK may have more upside on increased profitability. I am tempted to take profits, however.
March 23, 2017
Chesapeake initiated with a Buy at Stifel
Stifel analyst Karl Chalabala initiated Chesapeake with a Buy and a $10 price target saying its well positioned to succeed in the North American shale low-price commodity environment. The analyst said Chesapeake has top-tier break-even economic assets and believes the 2018 and 2019 gas strip have significant upside, and that investors are overlooking a company-wide technology revolution that will increase productivity beyond current results.
Stocktrader
Hi Stocktrader,
Thanks for the CHK information . I had also bought more shares when the stock had come under 6. Some analysts are very bullish. Let us hope it will continue to go up. Once again thanks so much.
joseph
Hi Joseph and Stocktrader,
Good luck with CHK.....patience pays and conviction makes money.
Saleem
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