Indices closed UP.
S&P 500 @ 2365.72, high 2375.74, low 2352.72
RSI @ 43.99
CMF @ 0.167
Internals were :
UP volume led by .89 to 1 in NYSE & 1.90 to 1 in Nasdaq
Advancing stocks led by 1.03 to 1 in NYSE & 1.36 to 1 in Nasdaq
Net new 52 wk lows were leading by 44 in NYSE & 56 in Nasdaq
VIX Down 5.97% @ 14.66
Oil @ $49.35
Gold @ $1252.80
Stocks which were UP 2% or more included CY OLED
TSLA SWKS QRVO NVDA WB CSIQ SINA YELP
SPWR CNX.....
AH ER..CRM UP 1.37%, GPS UP 4.14%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE staged an oversold bounce but internals were weak. We need confirmation of this uptrend by closing green on Friday. Most strong stocks in FANG and SOX did well. By close we lost some of the upside, hopefully we can pick up tomorrow where we left off today. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Bought TNA @ 50.07
I am so confident on the rebound now that I've totally flipped from yesterday. I want to position for breakout highs.
Stocktrader
Hi Stocktrader,
Good luck with TNA.....flipping is good for more $$$$$$
Bought WB @ $81.00
Saleem
Hi Saleem,
Good luck with WB--you're really supercharging that portfolio now! :)
I have about 14.4% cash that I'm almost desperate to deploy as my thesis on the market has so dramatically changed. It is hard when many things are up so much already from the lows, but I'll be searching as the day progresses.
Stocktrader
Hi Saleem,
It also seems like I got pretty lucky with my TNA fill getting the low of the day. I put in the order right at open and it filled pretty quickly but never looked back again:
DESCRIPTION DIREXION SHS ETF TR SMALL CAP BULL 3X SHS 3X SHS
ORDER TIME 9:30:04 AM ET
ACCOUNT TYPE Cash
REFERENCE #TRU 0226
ORDER TYPE at a Limit price of 50.07
Principal 90,126.00
Commission/Fees 9.95
Net Amount 90,135.95
Status Quantity Price Date Time
Executed 400 50.07 05/19/2017 9:30:17 AM ET
Executed 1,400 50.07 05/19/2017 9:30:17 AM ET
Stocktrader
Hi Saleem,
I am lacking confidence in the upside in some particular names I thought could be good like HUN BAC CHK DAL etc, so I just went for an additional block of TNA. It is my largest position now:
Added to TNA @ 50.58
Current portfolio: TNA SPLK BABA RCL ZYNE MU KBH PLNT ACIA GRUB Z MJCO, cash 7.1%
Now that I have plenty of upside exposure, I'll save the cash position for a specific idea when something really appeals to me.
Stocktrader
Hi Stocktrader,
Good luck with your supercharged TNA.
Saleem
Hi Stocktrader,
Sold CY @ $13.20
Added 150% WB @ $78.50
Saleem
Hi Saleem,
Good luck with more WB. I feel like it needs to rest after such a huge post-earnings run, but they really showed something special this quarter.
Stocktrader
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