Indices closed UP.
S&P 500 @ 2507.04, high 2511.75, low 2495.91
RSI @ 63.89
CMF @ 0.328
Internals were :
UP volume led by 1.55 to 1 in NYSE & 2.99 to 1 in Nasdaq
Advancing stocks led by 1.30 to 1 in NYSE & 2.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 192 in NYSE & 269 in Nasdaq
VIX Down 2.95% @ 9.87
Oil @ $52.14
Gold @ $1287.80
Stocks which were UP 2% or more included AMD
SHOP NVDA BABA WUBA GOOG FNSR FB
OCLR MU VRX TWTR BAC JKS QRVO X
CSIQ FFIV YELP CIEN GS MLNX DATA
CSOD CRUS ULTA SWKS KORS
LRCX......
AH ER...AAAP UP 9.61%, PIR Down 8.44%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE closed green but Nasdaq strength was the real story, FANG, Financials and other strong technology stocks closed near their highs. Tax reform seems to be the catalyst. Recently TAPE is trying to digest many things, before it can move decisively higher. Internals were strong in Nasdaq which is a very good thing.We need another good day to feel better about this new upswing.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Stocktrader,
It seems ZYNE got some good news.
Joseph
Hi Joseph,
Yes, the Fragile X trial was always the one that had the best chances in many analysts' opinions, but I didn't buy ZYNE for this niche area, but for the more general pain relief prospects. When that idea fizzled with the failed trials earlier, I took the stock off my watch list.
Stocktrader
Hi Stocktrader,
Thanks for the comments. I also dont have a position in ZYNE. I still keep these stocks in my watch list to see where it goes. I thought it may be an opportunity to get into the stock.
Thanks for sharing your thoughts on all your picks. It is of great help to me. Good luck.
Joseph
Hi Saleem,
Sold PETQ @ 27.60 to take profits
PetSmart just announced their own online pharmacy today and I'm not sure how this will affect the landscape. With great profits in the stock, I decided to sell and evaluate from the sidelines.
Stocktrader
Hi Stocktrader,
Good idea to book profit in PETQ.
Saleem
Hi Saleem,
Re-added to IP @ 56.90
After further thought, I like the packaging and container business and I think IP is well-positioned there.
I found myself with a high cash % today after some sells recently, and have been searching for ways to gain more market exposure, especially in non-tech areas.
Stocktrader
Hi Stocktrader,
Good luck with more IP.....
Saleem
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