Indices closed mixed.
S&P 500 @ 2579.36, high 2588.40, low 2574.92
RSI @ 67.25
CMF @ 0.154
Internals were :
UP volume led by 1.41 to 1 in NYSE & .84 to 1 in Nasdaq
Advancing stocks led by 1.13 to 1 in NYSE & .59 to 1 in Nasdaq
Net new 52 wk highs were leading by 163 in NYSE & 134 in Nasdaq
VIX UP .20% @ 10.20
Oil @ $54.30
Gold @ $1277.30
AH ER......
TSLA Down 5.04%
YELP Down 5.39%
GPRO Down 11.06%
FEYE Down 13.87%
OCLR Down 15.46%
CTRP earnings report was beat in Sales & EPS
Sales Actual $1.19 billion, beats by $40 million
EPS Gap 32 cents beats by 8 cents
EPS Non Gap 41 cents beats by 17 cents
CTRP guiding next Q growth @ 25% to 30% YOY
CTRP was UP AH 3.26%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong @ open and made new all time highs in Dow , S&P 500 and Nasdaq. Nasdaq gave up all gains and closed down. Tonight most earnings report reaction are not positive, even FB beat on Sales & EPS is being sold off due to major expenses being incurred for 2018. Tomorrow could be a challenging day unless new Fed chief can say some soothing words to calm the market.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteSold TDOC @ 31.78
After listening to the conference call, I don't see a major way to beat expectations for now despite much positive commentary. I think they will have to grow into their valuation for a while.
Bought HUBS @ 84.50
I thought the already-preannounced guidance would put a sluggish effect on the stock during the actual release, but I was wrong. These guys continue to show major traction with customers driving increases in revenue and profits. I think they can continue to run into year end.
Stocktrader
Hi Saleem,
ReplyDeleteSold NOW @ 124.00
After soft guidance, I think the stock could rest here.
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with HUBS....
Saleem
ReplyDeleteHi Stocktrader,
Sold OLED @ $147.00
Saleem
Hi Stocktrader,
ReplyDeleteBought TSLA @ $296.50
Saleem
Good move with TSLA Saleem. I earlier got puts when the price was 307 and sold at 296. Took quick 1k profits.
ReplyDeleteI got AAPL calls for tonight's earnings play.
Thanks,
Explorer
Hi Explorer,
DeleteExcellent profit in put on TSLA.
Good luck with AAPL calls
Saleem
Hi Saleem,
ReplyDeleteNice profits on OLED!
Besides TSLA's squishy report, the trade gets even harder when we look at the proposed tax bill eliminating the EV credit. I wish you good luck! :)
Stocktrader
Hi Explorer,
ReplyDeleteI expect the reaction to AAPL's earnings to be mostly muted given the run-up in recent days already on reports of very strong iPhone X demand, but I wish you good luck with the calls! The opportunity here might be to grab some cheap stock if it sells off on a rough Q3 or squishy Q4 guidance (because X is still supply limited), but I suspect you'll have to be quick because everyone knows this Q won't matter.
Stocktrader
Thanks Saleem & stocktrader for your valuable inputs. For AAPL The expectation is higher guidance but I got 1k profits already so I put a sell order. Let's see if that goes thru. I'll be in a meeting for next 2 hrs so I'll check it out probably after market close
ReplyDeleteThanks,
Explorer
Hi Saleem,
ReplyDeleteSold SCCO @ 42.93
I'm a little more uncertain about the future of copper given two attacks by the proposed tax bill and also potential industrial slowing in China. I already have the FCX exposure, and I thought their quarter was fine and the conference call made me more comfortable with potential outcomes in the Indonesia situation, so I'll stick with my play there given SCCO is quite a bit more expensive.
Stocktrader
Hi Stocktrader,
ReplyDeleteMy order is not filled and I don't see any effect yet. Did they report?
Explorer