Earnings for the most part has been good, most stocks got rewarded while poor earnings were punished. Some good earnings were punished also, like AMD, FB & INTC.....while bad earnings from AMZN were penalized only 2.5%.....TWTR got slammed big time on missing users growth.
Coming week will see earnings from the following which i own or follow closely:
Tuesday AAPL, SPWR
Wednesday TSLA OCLR SWIR
Thursday OLED
AAPL earnings will be about its guidance, without 8, it may be soft.....
SPWR may surprise on the upside due to higher guidance, whole solar sector is on fire due to legislative changes in US market, where solar panels are being made mandatory on new residential construction.
OCLR may give good guidance, this may propel this stock from a very long base into new highs.
SWIR has beaten estimates and it may be no different this time, yes it may also go to new 52 wk high.
TSLA....may see major move in either direction, it is a battleground stock, suggest waiting for earnings, then taking a position.
OLED had a beat and higher guidance last Q, it may repeat this Q ...may go into new highs.
Major indices continue to make series of new all time highs, which is an indication of more to come in short term.
VIX has been in total slump, that slump may continue near term.
Here is RSI for major sector / indices....
Dow........ 68.55.....strongest in big 3 index
S&P 500..62.90...better than Nasdaq
Nasdaq...60.98...weakest in major index
Russell...52.05....small cap in trouble
SOX.......51.96....trouble in chip land
XLE.......59.19.....getting attention for sector rotation
TAN.......73.62....sun is shining brighter in solar world...best performing in all sector....
Bulls 60.2%...still room to run towards 70 area
Bears16.5%
As you can clearly see, that it has become a "stocks picker market".......
Good luck with your own homework and comfort level with this TAPE.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Stocktrader,
Sold TWTR @ $16.58 in pre-market.
Saleem
Hi Stocktrader,
Tripled my position in SPWR @ $11.27
Saleem
Hi Saleem,
Big week ahead for you, good luck!
Added a bit to EXAS @ 39.41 since it was really underweight and it appears the buying interest is quite good in the stock for now.
Stocktrader
Hi Saleem & stocktrader
Got some P at 8.90 & SPWR at 10.90
Also got some AAPL puts
Explorer
Hi Explorer,
Good luck with your moves :)
Stocktrader
Hi Stocktrader,
Good luck with more EXAS.
Saleem
Hi Explorer,
Good luck with P & SPWR....
Saleem
Hi guys,
I am tempted by MU here after the 10% drop. Always hard to know what P/E is right if earnings have peaked though...
Stocktrader
Hi Stocktrader,
Many stocks have pulled on good earnings or bad earnings......
It all depends IF its a day trade or swing trade or long term hold.....
Good luck with your pick!
Saleem
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