Wednesday, May 17, 2017

Indices closed down 1.78% to 2.57%.......

Indices closed down.

 S&P 500 @ 2357.03, low 2356.21,high 2384.87

 RSI @ 39.60

 CMF @ 0.183

 Internals were :

 Down volume led by 4.82 to 1 in NYSE & 8.59 to 1 in Nasdaq

 Declining stocks led by 3.92 to 1 in NYSE & 5.63 to 1 in Nasdaq

 Net new 52 wk lows were leading by 33 in NYSE & 60 in Nasdaq

 VIX UP 46.38% @ 15.59

 Oil @ $49.07

 Gold @ $1258.70

 AH ER....CSCO Down 7.69%

 In my portfolio..Bought BABA @ $120.45 in AH.....they report before open

 AH Futures Mixed

 AH Asian Markets Down

 AH Oil Down

 AH Gold UP

 About market, TAPE faced relentless selling on US political storm which was developing fast, after hour, ex FBI chief has been appointed Special Counsel to deal with issues. Hopefully, there will be an oversold bounce on Thursday as political issues are dealt with. Indices closed @ low of the day and internals were extremely weak.

 BLOG does NOT give buy or sell.

 Saleem

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9 comments:

  1. Stocks100May 18, 2017 at 5:44 AM


    Hi Stocktrader,

    What was your impression of BABA conference call, i missed it.

    Saleem

    ReplyDelete
  2. stocktrader_1996May 18, 2017 at 6:03 AM

    Hi Saleem,

    Honestly I didn't listen to it. It didn't really matter to me what they reported or said this specific quarter, it's a longer term thesis. Plus, mornings are a busy time around here :) I'm sure the analysts will have a lot to say throughout the day today and tomorrow.

    Stocktrader

    ReplyDelete
  3. Stocks100May 18, 2017 at 6:08 AM


    Hi Stocktrader,

    Revenue growth is very good and a solid beat $5.61 billion vs $5.23 billion expected....

    EPS of 63 cents vs 65 cents expected is a minor issue imho

    Saleem

    ReplyDelete
  4. stocktrader_1996May 18, 2017 at 6:10 AM

    Hi Saleem,

    AMZN reported volatile bottom line numbers for years and years. We will see if investors give BABA the same pass. The accelerating revenue growth seems the real story to me, with much more still to come.

    Stocktrader

    ReplyDelete
  5. Stocks100May 18, 2017 at 6:46 AM


    Hi Stocktrader,

    Bought OLED @ $110.84

    Saleem

    ReplyDelete
  6. stocktrader_1996May 18, 2017 at 6:57 AM

    Hi Saleem,

    Good luck with OLED.

    I'd been looking at ATHN in the past week for the first time in a long, long while. It had been so expensive for so long but finally was getting closer to a value where I was comfortable...not anymore! LOL :)

    Stocktrader

    ReplyDelete
  7. Stocks100May 18, 2017 at 7:06 AM


    Hi Stocktrader,

    ATHN is up only 16%......
    '
    Saleem

    ReplyDelete
  8. stocktrader_1996May 18, 2017 at 11:09 AM

    Hi Saleem,

    Sold TZA @ 18.54

    I had been waiting to see if the Brazil problem caused more forced selling today but I think we're in the clear. Ready for the market to make new highs possibly now--it seems like we washed away a good amount of complacency yesterday...

    Stocktrader

    ReplyDelete
  9. Stocks100May 18, 2017 at 11:14 AM


    Hi Stocktrader,

    Nice 72 hour gain in TZA.....

    Saleem

    ReplyDelete