Indices closed mixed.
S&P 500 @ 2435.64, low 2430.74, high 2442.23
RSI @ 57.64
CMF @ 0.376
Internals were :
Down volume led by 2.17 to 1 in NYSE & .37 to 1 in Nasdaq
Declining stocks led by 1.76 to 1 in NYSE & 1.09 to 1 in Nasdaq
Net new 52 wk low were leading by 34 in NYSE & highs by 28 in Nasdaq
VIX Down 1.01% @ 10.75
Oil @ $42.53
Gold @ $1245.80
Stocks which were UP 2% or more included MOMO TWTR WB
VRX KGC GG NTES MU BABA AMD TECK JKS CSIQ
FSLR SPWR SINA DATA SHOP CRUS NKE OPK....
AH ER....ORCL UP 10.30%, CCJ UP 4.63%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under pressure due 10 months low price of oil, Nasdaq bucked the trend with impressive strong close.Internals were weak. Nasdaq leadership today is a very good sign of future TAPE.Oil has been a major negative for equities, IF it turns, then we may see a very strong rebound.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Stocktrader,
I have been having CARA in my portfolio along with ZYNE. CARA popped up10% on news. Can you advise if this can go to new highs or should I take profits here
Thanks,
Explorer
Hi explorer,
I'm not sure exactly how the news might have impacted (it seems fairly open to interpretation), but the chart looks quite good after today. With biotechs it is always tricky, so take profits if you feel you've gained enough :)
Stocktrader
Hi Saleem and Stocktrader,
Sold 50% of VRX @ 14.82. I also sold 50% of TECK @ 16.30. I have to trim TECK because too much commodity exposure can hurt us. Good luck to everyone.
Joseph
Hi Joseph,
Nice recent gains on VRX! It helps that biotech/pharma is flying right now :)
TECK has had so much negative news out lately, from company-specific problems to slipping industry met coal prices. It's good to get a chance to sell some on a pop :)
Stocktrader
Sold CARA at 20.68. Trying to get some calls on GWPH
Hi explorer,
That's probably not a bad idea actually. I'm sure all the biotech calls are pretty expensive suddenly though. GWPH has been really disappointing in recent months, will be interesting to see how it plays out.
Stocktrader
Hi Joseph,
Good move in booking 50% profit in VRX....it is being recommended by many analysts now....
TECK is not having a good year.....
Saleem
Hi Saleem and Stocktrader,
Thanks for your encouraging words. Whenever I sell my stocks, it goes higher. Look at VRX. I had averaged both TECK and VRX when it came down and so I needed to trim it.
Thanks for all your help and good luck.
Joseph
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