Indices closed UP
S&P 500 @ 2823.81, high 2839.26, low 2813.04
RSI @ 64.58
CMF @ 0.295
Internals were :
UP volume led by 1.07 to 1 in NYSE & 1.04 to 1 in Nasdaq
Advancing stocks led by 1.14 to 1 in NYSE & .62 to 1 in Nasdaq
Net new 52 wk lows were leading by 19 in NYSE & highs by 36 in Nasdaq
VIX Down 8.45% @ 13.54
Oil @ $64.73
Gold @ $1339.00
Stocks which were UP 1% or more included MOMO SQ
SHOP BIDU NVDA TSLA BABA BZUN GE SNAP
MU FCX KGC MA QRVO MSFT SINA FFIV AMD
ORCL TEUM DPW SPLK NKE AAL PANW CNX...
AH news...OTEX UP 11.53%, QRVO UP 8.68%
PYPL Down 11.13%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE was strong then faded on Fed announcement. By close indices were all green. Internals were mostly positive. AH earnings from FB, MSFT and others were taken as not bad. News about Chinese economy is encouraging and came in better than expected. Hopefully we move decidedly higher tomorrow into close.
BLOG does NOT give buy or sell.
Saleem
Wednesday, January 31, 2018
Indices UP .25% to .55%....NICE !!!!
Indices are UP despite Fed statement of higher inflation concern, rates remained unchanged.
S&P 500 @ 2829.70, high 2839.26, low 2824.48
Internals are mixed.
Oil Down 3 cent
Gold UP $2.80
Canadian $ UP 14 tick @ .7682
VIX Down 7.57% @ 13.67
Portfolio CTRP FSLR LRCX MRVL MOMO NTES SQ
Most stocks are higher.
@ 2.16 following are red :
ROKU NFLX OLED LULU SPWR CNQ TECK LVS
JKS LEN DNKN EXPE PCLN VECO FNSR CHK
TK RIG LNG WYNN TRIP MLNX LFIN OSTK
AEM CRUS ULTA KORS KBH OPK X....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2829.70, high 2839.26, low 2824.48
Internals are mixed.
Oil Down 3 cent
Gold UP $2.80
Canadian $ UP 14 tick @ .7682
VIX Down 7.57% @ 13.67
Portfolio CTRP FSLR LRCX MRVL MOMO NTES SQ
Most stocks are higher.
@ 2.16 following are red :
ROKU NFLX OLED LULU SPWR CNQ TECK LVS
JKS LEN DNKN EXPE PCLN VECO FNSR CHK
TK RIG LNG WYNN TRIP MLNX LFIN OSTK
AEM CRUS ULTA KORS KBH OPK X....
BLOG does NOT give buy or sell.
Saleem
Tuesday, January 30, 2018
Indices closed down .86% to 1.37%.....
Indices closed down.
S&P 500 @ 2822.43, low 2818.27, high 2837.75
RSI @ 64.30
CMF @ 0.354
Internals were :
Down volume led by 4.95 to 1 in NYSE & 3.40 to 1 in Nasdaq
Declining stocks led by 4.17 to 1 in NYSE & 2.97 to 1 in Nasdaq
Net new 52 wk lows were leading by 227 in NYSE & 17 in Nasdaq
Oil @ $64.50
Gold @ $1335.40
AH news...JNPR Down 8.62%, EA UP 7.5%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was under selling pressure again due to higher bond yield, Dow @ its low was down 400 points but managed to inch up to down 362.59, internals were hammered today but CMF remains very healthy. State of the union speech should bolster markets with optimistic tone and major infrastructure spending. We may have found a bottom / support in this TAPE, froth is definitely gone in most high fliers.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2822.43, low 2818.27, high 2837.75
RSI @ 64.30
CMF @ 0.354
Internals were :
Down volume led by 4.95 to 1 in NYSE & 3.40 to 1 in Nasdaq
Declining stocks led by 4.17 to 1 in NYSE & 2.97 to 1 in Nasdaq
Net new 52 wk lows were leading by 227 in NYSE & 17 in Nasdaq
Oil @ $64.50
Gold @ $1335.40
AH news...JNPR Down 8.62%, EA UP 7.5%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was under selling pressure again due to higher bond yield, Dow @ its low was down 400 points but managed to inch up to down 362.59, internals were hammered today but CMF remains very healthy. State of the union speech should bolster markets with optimistic tone and major infrastructure spending. We may have found a bottom / support in this TAPE, froth is definitely gone in most high fliers.
BLOG does NOT give buy or sell.
Saleem
Indices down .79% to 1.33%......
Indices are down for second day on same concern, rising bond yield plus slump in healthcare stocks due to competition from AMZN and others.
S&P 500 @ 2827.62, low 2818.27, high 2837.75
Internals are negative anywhere from 3 to 1 to 5 to 1
Oil Down $1.22
Gold Down $4.50
Canadian $ UP 9 tick @ .7673
VIX UP 5.64% @ 14.62...quite tame today..good for equity bulls....
Portfolio CTRP FSLR LRCX MRVL MOMO NTES SQ
Most stocks are down
@ 2.11 following are green :
FB SPWR TWTR AMZN SBUX QRVO FFIV GPRO
CIEN WYNN MLNX SWKS AAL....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2827.62, low 2818.27, high 2837.75
Internals are negative anywhere from 3 to 1 to 5 to 1
Oil Down $1.22
Gold Down $4.50
Canadian $ UP 9 tick @ .7673
VIX UP 5.64% @ 14.62...quite tame today..good for equity bulls....
Portfolio CTRP FSLR LRCX MRVL MOMO NTES SQ
Most stocks are down
@ 2.11 following are green :
FB SPWR TWTR AMZN SBUX QRVO FFIV GPRO
CIEN WYNN MLNX SWKS AAL....
BLOG does NOT give buy or sell.
Saleem
Monday, January 29, 2018
Indices closed down .52% to .67%.....
Indices closed down.
S&P 500 @ 2853.53, low 2851.48, high 2870.62
RSI @ 76.39
CMF @ 0.365
Internals were :
Down volume led by 3.18 to 1 in NYSE & 1.55 to 1 in Nasdaq
Declining stocks led by 4.64 to 1 in NYSE & 2.16 to 1 in Nasdaq
Net new 52 wk highs were leading by 26 in NYSE & 169 in Nasdaq
VIX UP 24.91% @ 13.84
Oil @ $65.56
Gold @ $1340.30
AH news...EXTR UP 6.32%, MXIM Down 8.71%
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE reacted to rising interest rates and slow progress in NAFTA, 10 year treasury yield has jumped to highest level since April 2014. Market hate surprises and interest rate sharp jump was more than surprise. As TAPE was overbought, this news jolted many to book profit. Nothing has changed in positive picture of this strong bull market.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2853.53, low 2851.48, high 2870.62
RSI @ 76.39
CMF @ 0.365
Internals were :
Down volume led by 3.18 to 1 in NYSE & 1.55 to 1 in Nasdaq
Declining stocks led by 4.64 to 1 in NYSE & 2.16 to 1 in Nasdaq
Net new 52 wk highs were leading by 26 in NYSE & 169 in Nasdaq
VIX UP 24.91% @ 13.84
Oil @ $65.56
Gold @ $1340.30
AH news...EXTR UP 6.32%, MXIM Down 8.71%
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE reacted to rising interest rates and slow progress in NAFTA, 10 year treasury yield has jumped to highest level since April 2014. Market hate surprises and interest rate sharp jump was more than surprise. As TAPE was overbought, this news jolted many to book profit. Nothing has changed in positive picture of this strong bull market.
BLOG does NOT give buy or sell.
Saleem
Indices down .24% to .32%......
Indices are lower on higher interest rates and Nafta talks making tiny progress.
S&P 500 @ 2864.67, low 2854.83, high 2870.62
Internals are negative by 2 to 1
Oil Down 73 cents
Gold Down $10.80
Canadian $ Down 15 tick @ .7676
VIX UP 14.62% @ 12.70
In my portfolio ...Sold MARA @ $3.12
Portfolio CTRP FSLR LRCX MRVL MOMO NTES SQ
Most stocks are down
@ 2.19 PM following are green :
CTRP MOMO NVDA TSLA TRIL NFLX AMD GE
LULU VRX TWTR BAC TECK GOOG AMZN
FCX LVS JKS YUM FFIV YELP GS MLNX
OSTK ULTA CMG X....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2864.67, low 2854.83, high 2870.62
Internals are negative by 2 to 1
Oil Down 73 cents
Gold Down $10.80
Canadian $ Down 15 tick @ .7676
VIX UP 14.62% @ 12.70
In my portfolio ...Sold MARA @ $3.12
Portfolio CTRP FSLR LRCX MRVL MOMO NTES SQ
Most stocks are down
@ 2.19 PM following are green :
CTRP MOMO NVDA TSLA TRIL NFLX AMD GE
LULU VRX TWTR BAC TECK GOOG AMZN
FCX LVS JKS YUM FFIV YELP GS MLNX
OSTK ULTA CMG X....
BLOG does NOT give buy or sell.
Saleem
Sunday, January 28, 2018
Market keeps going UP.......
This TAPE is challenging old understanding of overbought indicators, it is defiant in its action, many including me are giving up on old valuation metrics of overbought stocks.
IF you had followed old valuation metrics of selling @ 60 RSI...you would have missed 50% of UP move in every strong stocks.
Most strong stocks are trading in mid 80 RSI....
All of the above is telling everyone that something has changed in US stock market.
By the time everyone will adjust to " new norm ".....markets will be substantially higher....
This week is "mother of all earnings report"
Here are few stocks who are all set to report earnings this week :
Monday STX....RSI 85.06
Tuesday AMD RSI 65.25
Wednesday FB RSI 62.86
MSFT RSI 80.17
Thursday AAPL RSI 41.96
GOOG RSI 82.07
AMZN RSI 86.31
As you very well know, all the stocks in 80++ RSI are expected to report good results, they are expected to go even higher....case in point NFLX with good earnings went further UP 3 days in a row, currently sporting an eye popping RSI of 90.26.......enough said.....
SO....this TAPE is lot different than PE of 5 where we traded for decades and all technical metrics developed and followed from that kind of environment......
NOW..PE of 26 is mighty fine...so RSI of 90 is fine also.......
Things have changed and those who are looking in "rearview mirror " are being left behind in droves....
SO....make your daring move into 2018 market, it may require totally different strategies than what you were used to for decades......
Good luck with your own understanding of this TAPE and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
IF you had followed old valuation metrics of selling @ 60 RSI...you would have missed 50% of UP move in every strong stocks.
Most strong stocks are trading in mid 80 RSI....
All of the above is telling everyone that something has changed in US stock market.
By the time everyone will adjust to " new norm ".....markets will be substantially higher....
This week is "mother of all earnings report"
Here are few stocks who are all set to report earnings this week :
Monday STX....RSI 85.06
Tuesday AMD RSI 65.25
Wednesday FB RSI 62.86
MSFT RSI 80.17
Thursday AAPL RSI 41.96
GOOG RSI 82.07
AMZN RSI 86.31
As you very well know, all the stocks in 80++ RSI are expected to report good results, they are expected to go even higher....case in point NFLX with good earnings went further UP 3 days in a row, currently sporting an eye popping RSI of 90.26.......enough said.....
SO....this TAPE is lot different than PE of 5 where we traded for decades and all technical metrics developed and followed from that kind of environment......
NOW..PE of 26 is mighty fine...so RSI of 90 is fine also.......
Things have changed and those who are looking in "rearview mirror " are being left behind in droves....
SO....make your daring move into 2018 market, it may require totally different strategies than what you were used to for decades......
Good luck with your own understanding of this TAPE and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, January 26, 2018
Indices closed UP .85% to 1.28%....NICE !!!!
Indices closed @ absolute high of the day and made a new all time highs in Dow, S&P 500 and Nasdaq.Oil made a new 3 year high.
S&P 500 @ 2872.87, high 2872.87, low 2846.18
RSI @ 86.69
CMF @ 0.438
Internals were :
UP volume led by 2.46 to 1 in NYSE & 2.38 to 1 in Nasdaq
Advancing stocks led by 1.21 to 1 in NYSE & 1.54 to 1 in Nasdaq
Net new 52 wk highs were leading by 216 in NYSE & 276 in Nasdaq
VIX Down 4.32% @ 11.08
Oil @ $66.14
Gold @ $1352.10
Canadian $ .7678
Stocks which were UP 2% or more included CTRP
SHOP WB BIDU NVDA BABA BZUN AMD JD
SPWR TWTR QRVO SWKS SINA EBAY FFIV
FEYE LNG YELP ORCL TEUM M......
Here is my portfolio weighting :
NTES 46.90%
FSLR 14.80%
LRCX 11.30%
CTRP 9.80%
MRVL 6.50%
SQ 5.10%
MARA 3.40%
MOMO 2.10%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2872.87, high 2872.87, low 2846.18
RSI @ 86.69
CMF @ 0.438
Internals were :
UP volume led by 2.46 to 1 in NYSE & 2.38 to 1 in Nasdaq
Advancing stocks led by 1.21 to 1 in NYSE & 1.54 to 1 in Nasdaq
Net new 52 wk highs were leading by 216 in NYSE & 276 in Nasdaq
VIX Down 4.32% @ 11.08
Oil @ $66.14
Gold @ $1352.10
Canadian $ .7678
Stocks which were UP 2% or more included CTRP
SHOP WB BIDU NVDA BABA BZUN AMD JD
SPWR TWTR QRVO SWKS SINA EBAY FFIV
FEYE LNG YELP ORCL TEUM M......
Here is my portfolio weighting :
NTES 46.90%
FSLR 14.80%
LRCX 11.30%
CTRP 9.80%
MRVL 6.50%
SQ 5.10%
MARA 3.40%
MOMO 2.10%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, January 25, 2018
Indices closed mixed.......
Indices closed mixed.
S&P 500 @ 2839.25, high 2848.56, low 2830.94
RSI @ 83.24
CMF @ 0.399
Internals were :
Down volume led by 1.35 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by 1.19 to 1 in NYSE & 1.06 to 1 in Nasdaq
Net new 52 wk highs were leading by 208 in NYSE & 182 in Nasdaq
VIX UP .96% @ 11.58
Oil @ $65.51
Gold @ $1362.90
Stocks which were UP 1% or more included CTRP FSLR NTES SQ
MOMO SHOP WB BABA ROKU TRIL BZUN NFLX JD SPWR
AMZN FCX JKS CSIQ DNKN GS YELP MLNX ULTA CELG
CMG.....
AH news....INTC UP 3.53%, SBUX Down 4.64%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE although closed mixed, but Dow managed to make a new all time high and closed @ new all time high. TAPE saw some selling when President Trump contradicted Treasury Secretary position of weak US dollar. Internals were weak today, which is a usual churning on some day. TAPE remains healthy which is confirmed by new highs in indices. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2839.25, high 2848.56, low 2830.94
RSI @ 83.24
CMF @ 0.399
Internals were :
Down volume led by 1.35 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by 1.19 to 1 in NYSE & 1.06 to 1 in Nasdaq
Net new 52 wk highs were leading by 208 in NYSE & 182 in Nasdaq
VIX UP .96% @ 11.58
Oil @ $65.51
Gold @ $1362.90
Stocks which were UP 1% or more included CTRP FSLR NTES SQ
MOMO SHOP WB BABA ROKU TRIL BZUN NFLX JD SPWR
AMZN FCX JKS CSIQ DNKN GS YELP MLNX ULTA CELG
CMG.....
AH news....INTC UP 3.53%, SBUX Down 4.64%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE although closed mixed, but Dow managed to make a new all time high and closed @ new all time high. TAPE saw some selling when President Trump contradicted Treasury Secretary position of weak US dollar. Internals were weak today, which is a usual churning on some day. TAPE remains healthy which is confirmed by new highs in indices. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .06% to .41%....NICE !!!!
Indices are higher into another record high. Oil continues to make 4 year high.
S&P 500 @ 2838.87, high 2848.56, low 2833.67
Internals are mostly negative.
Oil UP 10 cents
Gold Down $3.80
Canadian $ Down 4 tick @ .7649
VIX UP 2.18% @ 11.72
In my portfolio :
Sold MOMO @ $29.45
Bought LRCX @ $206.90
Portfolio CTRP FSLR LRCX MARA MRVL NTES SQ
Most stocks are UP
@ 2.36 following are red :
LRCX BIDU TSLA RIOT AAPL AMD OLED SNAP
LULU VRX TWTR CNQ GG ABX LVS KGC LEN
QRVO SU FFIV TWLO TK CHK RIG GPRO
CIEN MGA OSTK CRUS SWKS TNA KBH
AAL M PANW CNX...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2838.87, high 2848.56, low 2833.67
Internals are mostly negative.
Oil UP 10 cents
Gold Down $3.80
Canadian $ Down 4 tick @ .7649
VIX UP 2.18% @ 11.72
In my portfolio :
Sold MOMO @ $29.45
Bought LRCX @ $206.90
Portfolio CTRP FSLR LRCX MARA MRVL NTES SQ
Most stocks are UP
@ 2.36 following are red :
LRCX BIDU TSLA RIOT AAPL AMD OLED SNAP
LULU VRX TWTR CNQ GG ABX LVS KGC LEN
QRVO SU FFIV TWLO TK CHK RIG GPRO
CIEN MGA OSTK CRUS SWKS TNA KBH
AAL M PANW CNX...
BLOG does NOT give buy or sell.
Saleem
Wednesday, January 24, 2018
Indices closed mixed.......
Indices closed mixed.
S&P 500 @ 2837.54, low 2824.81, high 2852.97
RSI @ 83.03
CMF @ 0.417
Internals were :
Down volume led by .78 to 1 in NYSE & 1.80 to 1 in Nasdaq
Declining stocks led by 1.29 to 1 in NYSE & 1.83 to 1 in Nasdaq
Net new 52 wk highs were leading by 322 in NYSE & 365 in Nasdaq
VIX UP 3.33% @ 11.47
Oil @ $65.61
Gold @ $1356.30
AH news...VAR UP 13.14%, XLNX UP 5.2%
TER Down 2.97%, CLS Down 7.43%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE started nicely higher and made all new all time highs on an intraday basis, then started to react to trade war comments and US$ weakness strategy by US officials, as TAPE was overbought, it gave an excuse to lock profit, thus a sharp decline in all indices. Resiliency of this TAPE was obvious when traders stepped in @ lows of the day, indices erased majority of losses by close and Dow closed @ new all time high. VIX was giving a clear signal that this selling has no leg and was contained in a narrow range. Today's selling gave a new leg to this bull run.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2837.54, low 2824.81, high 2852.97
RSI @ 83.03
CMF @ 0.417
Internals were :
Down volume led by .78 to 1 in NYSE & 1.80 to 1 in Nasdaq
Declining stocks led by 1.29 to 1 in NYSE & 1.83 to 1 in Nasdaq
Net new 52 wk highs were leading by 322 in NYSE & 365 in Nasdaq
VIX UP 3.33% @ 11.47
Oil @ $65.61
Gold @ $1356.30
AH news...VAR UP 13.14%, XLNX UP 5.2%
TER Down 2.97%, CLS Down 7.43%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE started nicely higher and made all new all time highs on an intraday basis, then started to react to trade war comments and US$ weakness strategy by US officials, as TAPE was overbought, it gave an excuse to lock profit, thus a sharp decline in all indices. Resiliency of this TAPE was obvious when traders stepped in @ lows of the day, indices erased majority of losses by close and Dow closed @ new all time high. VIX was giving a clear signal that this selling has no leg and was contained in a narrow range. Today's selling gave a new leg to this bull run.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed after being UP & making new all time highs, then down and now mixed, all this on profit taking and buying near lows of the day.
S&P 500 @ 2840.25, high 2852.97, low 2824.81
Internals are mixed
Oil UP $1.25...over 3 years high
Gold UP $22.20
Canadian $ UP 85 tick @ .7671...4 months high against US$
VIX UP 3.60% @ 11.50
In my portfolio :
Bought in pre-market
NTES @ $336.00
FSLR @ $69.00
SQ @ $45.30
Portfolio CTRP FSLR MARA MRVL MOMO NTES SQ
Most stocks are down
@ 2.34 following are green :
CTRP FSLR MARA SHOP BIDU BZUN NFLX JD SNAP
GG KGC ABX AEM BAC TECK GOOG AMZN DNKN
EXPE TWLO LNG BABA WYNN GS MGA ORCL MS
DPW NKE OPK CMG CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2840.25, high 2852.97, low 2824.81
Internals are mixed
Oil UP $1.25...over 3 years high
Gold UP $22.20
Canadian $ UP 85 tick @ .7671...4 months high against US$
VIX UP 3.60% @ 11.50
In my portfolio :
Bought in pre-market
NTES @ $336.00
FSLR @ $69.00
SQ @ $45.30
Portfolio CTRP FSLR MARA MRVL MOMO NTES SQ
Most stocks are down
@ 2.34 following are green :
CTRP FSLR MARA SHOP BIDU BZUN NFLX JD SNAP
GG KGC ABX AEM BAC TECK GOOG AMZN DNKN
EXPE TWLO LNG BABA WYNN GS MGA ORCL MS
DPW NKE OPK CMG CNX.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, January 23, 2018
Indices closed mixed....
Indices closed mixed.
S&P 500 @ 2839.13, high 2842.24, low 2830.59
RSI @ 83.93
CMF @ 0.449
Internals were :
UP volume led by 1.09 to 1 in NYSE & 2.12 to 1 in Nasdaq
Advancing stocks led by 1.63 to 1 in NYSE & 1.28 to 1 in Nasdaq
Net new 52 wk highs were leading by 265 in NYSE & 391 in Nasdaq
VIX UP .63% @ 11.10
Oil @ $64.47
Gold @ $1336.70
Stocks which were UP 1% or more included BIDU MARA MOMO
NVDA LRCX BABA BZUN NFLX AMD GE FB MU VRX GG
GOOG AMZN ABX KGC QRVO DNKN SU YUM FFIV PCLN
TWLO CHK FEYE LNG MGA DPW OSTK AEM SPLK IBM
KORS CELG NKE OPK X PANW
In my portfolio ...Sold BIDU @ $256.95
AH news...UAL Down 6.62%, TXN Down 6.85%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE continued its momentum and made a new closing highs in Nasdaq & S&P 500, while Dow made an intraday high. I continued to trim my exposure today by selling BIDU, my exposure is only 17.15% currently and it may go down further based on RSI. New highs expanded further and CMF is near highest point in recent months. All in all a very healthy TAPE.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed only after making another new all time highs, Dow is trading near breakeven.
S&P 500 @ 2839.20, high 2842.24, low 2830.59
Internals are positive
Oil UP 89 cents
Gold UP $5.70
Canadian $ UP 3 tick @ .7560
VIX Down .63% @ 10.96
Portfolio BIDU CTRP MARA MRVL MOMO
Most stocks are UP
@ 2.19 following are red :
CTRP MRVL SQ OLED SPWR TWTR TECK FCX
MA JKS LEN CSIQ FNSR RIG GPRO FSLR GS
TRIP MLNX TEUM LFIN SSC CRUS ULTA
TSM ......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2839.20, high 2842.24, low 2830.59
Internals are positive
Oil UP 89 cents
Gold UP $5.70
Canadian $ UP 3 tick @ .7560
VIX Down .63% @ 10.96
Portfolio BIDU CTRP MARA MRVL MOMO
Most stocks are UP
@ 2.19 following are red :
CTRP MRVL SQ OLED SPWR TWTR TECK FCX
MA JKS LEN CSIQ FNSR RIG GPRO FSLR GS
TRIP MLNX TEUM LFIN SSC CRUS ULTA
TSM ......
BLOG does NOT give buy or sell.
Saleem
Monday, January 22, 2018
Indices closed UP .55% to .98%...NICE !!!!
Indices closed UP.
S&P 500 @ 2832.97, high 2833.03, low 2808.12
RSI @ 83.28
CMF @ 0.395
Internals were :
UP volume led by 2.39 to 1 in NYSE & 2.75 to 1 in Nasdaq
Advancing stocks led by 1.75 to 1 in NYSE & 1.38 to 1 in Nasdaq
Net new 52 wk highs were leading by 217 in NYSE & 346 in Nasdaq
VIX Down 2.13% @ 11.03
Oil @ $63.49
Gold @ $1331.90
Stocks which were UP 1% or more included SHOP SQ
TSM ROKU TRIL NVDA NFLX FB NTES GOOG
VRX AMZN LVS WYNN V MSFT EXPE YUM
FFIV TWLO TK RIG YELP CIEN GS TRIP
MLNX LFIN SSC SPLK TNA X CNX ...
In my portfolio :
Sold SQ @ $45.29
Sold SHOP @ $119.10
Sold WB @ $130.76
AH news...NFLX UP 8.45%, FSLR UP 6.73%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE started the week on a very familiar note, made another new all time highs in Dow , S&P 500 and Nasdaq, Indices closed @ high of the day. As per my Sunday BLOG analysis, i wanted to book profit and today was a good day to do that, I reduced my exposure by 46.05%, my current exposure is 53.95%, this will be reduced further IF i can book more gains with RSI in focus. This is just me doing what suits my strategy, i have started the year with robust gains and i want to book those gains ASAP. Internals were strong and new highs list is expanding.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2832.97, high 2833.03, low 2808.12
RSI @ 83.28
CMF @ 0.395
Internals were :
UP volume led by 2.39 to 1 in NYSE & 2.75 to 1 in Nasdaq
Advancing stocks led by 1.75 to 1 in NYSE & 1.38 to 1 in Nasdaq
Net new 52 wk highs were leading by 217 in NYSE & 346 in Nasdaq
VIX Down 2.13% @ 11.03
Oil @ $63.49
Gold @ $1331.90
Stocks which were UP 1% or more included SHOP SQ
TSM ROKU TRIL NVDA NFLX FB NTES GOOG
VRX AMZN LVS WYNN V MSFT EXPE YUM
FFIV TWLO TK RIG YELP CIEN GS TRIP
MLNX LFIN SSC SPLK TNA X CNX ...
In my portfolio :
Sold SQ @ $45.29
Sold SHOP @ $119.10
Sold WB @ $130.76
AH news...NFLX UP 8.45%, FSLR UP 6.73%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE started the week on a very familiar note, made another new all time highs in Dow , S&P 500 and Nasdaq, Indices closed @ high of the day. As per my Sunday BLOG analysis, i wanted to book profit and today was a good day to do that, I reduced my exposure by 46.05%, my current exposure is 53.95%, this will be reduced further IF i can book more gains with RSI in focus. This is just me doing what suits my strategy, i have started the year with robust gains and i want to book those gains ASAP. Internals were strong and new highs list is expanding.
BLOG does NOT give buy or sell.
Saleem
Indices UP .26% to .66%....NICE !!!!
Indices are higher with S&P 500 and Nasdaq into new all time high. Hope to resolve shutdown is moving in the right direction.
S&P 500 @ 2822.04, high 2825.91, low 2808.12
Internals are positive with Nasdaq UP volume leading by 2 to 1
Oil UP 6 cents
Gold Down $1.60
Canadian $ UP 24 tick @ .7537
VIX Down 2.31% @ 11.01
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.29 following are red :
BIDU CTRP MARA RIOT AAPL BZUN GE JD OLED
SNAP LULU TECK JKS QRVO SINA FNSR FEYE
BABA TWTR FSLR MGA DPW AEM CRUS
ULTA SWKS NKE OPK CMG PANW....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2822.04, high 2825.91, low 2808.12
Internals are positive with Nasdaq UP volume leading by 2 to 1
Oil UP 6 cents
Gold Down $1.60
Canadian $ UP 24 tick @ .7537
VIX Down 2.31% @ 11.01
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.29 following are red :
BIDU CTRP MARA RIOT AAPL BZUN GE JD OLED
SNAP LULU TECK JKS QRVO SINA FNSR FEYE
BABA TWTR FSLR MGA DPW AEM CRUS
ULTA SWKS NKE OPK CMG PANW....
BLOG does NOT give buy or sell.
Saleem
Sunday, January 21, 2018
Market getting overbought.....
We may be heading towards a " melt up " or a correction......
Melt UP means market take off on heaviest volume for days and weeks.....
Correction may be on the horizon......
There are many sign that this rally may be heading towards a correction....
VIX has been trending UP with higher market......
Bull Bear ratio has gone into extreme not seen in 30 years...
Bears are awfully close to 1987 number...just before a major crash....
SO Bulls are 66.7%
Bears are 12.7%
These ratios are very alarming....and may have gone into more extreme number since Wednesday Jan 16th tabulation....23rd January ratio could be downright scary......
RSI has been trending into extreme also...here are key RSI stat :
Dow 83.52
S&P 500 80.60
Nasdaq 78.41
SOX 71.21
RUT 66.49
All of the above RSI numbers are in " serious overbought " condition based on old definition of 60 being overbought and 30 being oversold......
SO...IF we look @ 3 key indicators.......Bulls bears ratio.....RSI......& VIX....they are all heading into a " troubling zone "......
Before, we were dealing with RSI only as being overbought for a while ...but now Bulls / Bears ratio are confirming a corrective signal.......
Now the question is....will it start this Monday or next Monday or the Monday after....nobody knows...
In the meantime, we can start to book profit in overbought positions......
It will be prudent to wait for a correction before we " redeploy any finds back in market "
Good luck with your own interpretation of this TAPE.
BLOG does NOT give buy or sell.
Saleem
Melt UP means market take off on heaviest volume for days and weeks.....
Correction may be on the horizon......
There are many sign that this rally may be heading towards a correction....
VIX has been trending UP with higher market......
Bull Bear ratio has gone into extreme not seen in 30 years...
Bears are awfully close to 1987 number...just before a major crash....
SO Bulls are 66.7%
Bears are 12.7%
These ratios are very alarming....and may have gone into more extreme number since Wednesday Jan 16th tabulation....23rd January ratio could be downright scary......
RSI has been trending into extreme also...here are key RSI stat :
Dow 83.52
S&P 500 80.60
Nasdaq 78.41
SOX 71.21
RUT 66.49
All of the above RSI numbers are in " serious overbought " condition based on old definition of 60 being overbought and 30 being oversold......
SO...IF we look @ 3 key indicators.......Bulls bears ratio.....RSI......& VIX....they are all heading into a " troubling zone "......
Before, we were dealing with RSI only as being overbought for a while ...but now Bulls / Bears ratio are confirming a corrective signal.......
Now the question is....will it start this Monday or next Monday or the Monday after....nobody knows...
In the meantime, we can start to book profit in overbought positions......
It will be prudent to wait for a correction before we " redeploy any finds back in market "
Good luck with your own interpretation of this TAPE.
BLOG does NOT give buy or sell.
Saleem
Friday, January 19, 2018
Indices closed UP .21% to .55%.....NICE !!!!
Indices closed @ high of the day, S&P 500 and Nasdaq closed @ new all time high. RUT was the strongest. All this when there is no agreement on shutdown yet.
S&P 500 @ 2810.30, high 2810.33, low 2798.08
RSI @ 80.60
CMF @ 0.312
Internals were :
UP volume led by 1.80 to 1 in NYSE & 2.11 to 1 in Nasdaq
Advancing stocks led by 2.02 to 1 in NYSE & 2.51 to 1 in Nasdaq
Net new 52 wk highs were leading by 160 in NYSE & 254 in Nasdaq
VIX Down 7.85% @ 11.27
Oil @ $63.37
Gold @ $1333.10
Canadian $.7543
Stocks which were UP 1% or more included MOMO SQ
TSLA TRIL NVDA NTES LULU SPWR FCX LVS
UA LEN FNSR RIG WYNN GS MLNX OSTK
KORS TNA NKE OPK CMG M LRCX......
Here is my portfolio weighting :
BIDU 21.70%
WB 17.70%
SQ 13.70%
SHOP 13.70%
CTRP 11.90%
MOMO 8.70%
MRVL 8.00%
MARA 4.30%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2810.30, high 2810.33, low 2798.08
RSI @ 80.60
CMF @ 0.312
Internals were :
UP volume led by 1.80 to 1 in NYSE & 2.11 to 1 in Nasdaq
Advancing stocks led by 2.02 to 1 in NYSE & 2.51 to 1 in Nasdaq
Net new 52 wk highs were leading by 160 in NYSE & 254 in Nasdaq
VIX Down 7.85% @ 11.27
Oil @ $63.37
Gold @ $1333.10
Canadian $.7543
Stocks which were UP 1% or more included MOMO SQ
TSLA TRIL NVDA NTES LULU SPWR FCX LVS
UA LEN FNSR RIG WYNN GS MLNX OSTK
KORS TNA NKE OPK CMG M LRCX......
Here is my portfolio weighting :
BIDU 21.70%
WB 17.70%
SQ 13.70%
SHOP 13.70%
CTRP 11.90%
MOMO 8.70%
MRVL 8.00%
MARA 4.30%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, January 18, 2018
Indices closed down .03% to .37%....
Indices closed down.
S&P 500 @ 2798.03, low 2792.56, high 2805.83
RSI @ 78.90
CMF @ 0.207
Internals were :
Down volume led by 2.08 to 1 in NYSE & .97 to 1 in Nasdaq
Declining stocks led by 2.67 to 1 in NYSE & 1.74 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 126 in Nasdaq
VIX UP 2.60% @ 12.22
Oil @ $63.95
Gold @ $1327.20
AH news.....MLNX UP 7.45%, AAOI UP 6.71%
AXP Down 2.70%, IBM Down 3.44%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE started UP but only Dow made a new all time high, Indices struggled due to looming government shutdown, there is some hope for averting that now, this gets resolved most of the time. This weakness was another opportunity to position in strong stocks. Internals were weak today die to limited selling, TAPE is in very good shape ready to take off again. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2798.03, low 2792.56, high 2805.83
RSI @ 78.90
CMF @ 0.207
Internals were :
Down volume led by 2.08 to 1 in NYSE & .97 to 1 in Nasdaq
Declining stocks led by 2.67 to 1 in NYSE & 1.74 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 126 in Nasdaq
VIX UP 2.60% @ 12.22
Oil @ $63.95
Gold @ $1327.20
AH news.....MLNX UP 7.45%, AAOI UP 6.71%
AXP Down 2.70%, IBM Down 3.44%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE started UP but only Dow made a new all time high, Indices struggled due to looming government shutdown, there is some hope for averting that now, this gets resolved most of the time. This weakness was another opportunity to position in strong stocks. Internals were weak today die to limited selling, TAPE is in very good shape ready to take off again. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
@ open Dow made a new all time high, Nasdaq is green after being lower.
S&P 500 2801.09, low 2792.56, high 2804.61
Internals are mixed with Nasdaq UP volume in the lead.
Oil Down 2 cents
Gold Down $11.90
Canadian $ Down 3 tick @ .7563
VIX UP 1.51% @ 12.09
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are down
@ 2.12 following are green :
MARA MRVL SQ WB RIOT TRIL AAPL AMF FB OLED
SNAP BAC LVS V SBUX MA SINA DNKN EBAY JUNO
VECO TWLO WYNN MS LFIN CRUS SPLK ULTA CMG
SWKS M PANW.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 2801.09, low 2792.56, high 2804.61
Internals are mixed with Nasdaq UP volume in the lead.
Oil Down 2 cents
Gold Down $11.90
Canadian $ Down 3 tick @ .7563
VIX UP 1.51% @ 12.09
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are down
@ 2.12 following are green :
MARA MRVL SQ WB RIOT TRIL AAPL AMF FB OLED
SNAP BAC LVS V SBUX MA SINA DNKN EBAY JUNO
VECO TWLO WYNN MS LFIN CRUS SPLK ULTA CMG
SWKS M PANW.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, January 17, 2018
Indices closed UP .94% to 1.25%.....NICE !!!!
Indices closed UP.
S&P 500 @ 2802.56, high 2807.04, low 2778.38
RSI @ 81.34
CMF @ 0.214
Internals were :
UP volume led by 2.10 to 1 in NYSE & 2.22 to 1 in Nasdaq
Advancing stocks led by 1.86 to 1 in NYSE & 1.83 to 1 in Nasdaq
Net new 52 wk highs were leading by 133 in NYSE & 156 in Nasdaq
VIX UP 2.14% @ 11.91
Oil @ $63.97
Gold @ $1339.20
Sticks which were UP 2% or more included MOMO SHOP WB
ROKU BZUN AMD NVDA OLED MU FCX LEN QRVO
MSFT SINA WYNN TEUM SSC OSTK SPLK SWKS
TNA CMG LRCX.....
AH news...AEM UP 5.35%, AA Down 6.65%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE proved to everyone including Carter Worth, that, this TAPE is beyond any analysis, BA was sharply higher and Dow jumped to a brand new all time high. This TAPE has much more strength to show all skeptics, that betting against a " runaway bull " is very bad for financial health. Going with the flow has worked like a charm, too much money chasing entire market.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2802.56, high 2807.04, low 2778.38
RSI @ 81.34
CMF @ 0.214
Internals were :
UP volume led by 2.10 to 1 in NYSE & 2.22 to 1 in Nasdaq
Advancing stocks led by 1.86 to 1 in NYSE & 1.83 to 1 in Nasdaq
Net new 52 wk highs were leading by 133 in NYSE & 156 in Nasdaq
VIX UP 2.14% @ 11.91
Oil @ $63.97
Gold @ $1339.20
Sticks which were UP 2% or more included MOMO SHOP WB
ROKU BZUN AMD NVDA OLED MU FCX LEN QRVO
MSFT SINA WYNN TEUM SSC OSTK SPLK SWKS
TNA CMG LRCX.....
AH news...AEM UP 5.35%, AA Down 6.65%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE proved to everyone including Carter Worth, that, this TAPE is beyond any analysis, BA was sharply higher and Dow jumped to a brand new all time high. This TAPE has much more strength to show all skeptics, that betting against a " runaway bull " is very bad for financial health. Going with the flow has worked like a charm, too much money chasing entire market.
BLOG does NOT give buy or sell.
Saleem
Indices UP .89% to 1.02%....NICE !!!!
Indices are @ high of the day trying to take out high of yesterday. Buying momentum continues.
S&P 500 @ 2800.76, high 2801.79, low 2778.38
Internals are positive by 2 to 1
Oil UP 24 cents
Gold UP $2.30
Canadian $ UP 47 tick @ .7614...Central Bank of Canada raised interest rate by .25%.....
VIX Down 3.86% @ 11.21
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.14 following are red :
BIDU MARA RIOT TRIL NFLX GE GG AMZN ABX KGC
CSIQ FNSR VRX GS MLNX LFIN ABX CELG OPK.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2800.76, high 2801.79, low 2778.38
Internals are positive by 2 to 1
Oil UP 24 cents
Gold UP $2.30
Canadian $ UP 47 tick @ .7614...Central Bank of Canada raised interest rate by .25%.....
VIX Down 3.86% @ 11.21
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.14 following are red :
BIDU MARA RIOT TRIL NFLX GE GG AMZN ABX KGC
CSIQ FNSR VRX GS MLNX LFIN ABX CELG OPK.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, January 16, 2018
Indices closed down .04% to .51%......
Indices closed down.
S&P 500 @ 2776.42, low 2768.64, high 2807.54
RSI @ 77.63
CMF @ 0.226
Internals were :
Down volume led by 2.02 to 1 in NYSE & 1.79 to 1 in Nasdaq
Declining stocks led by 2.04 to 1 in NYSE & 2.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 359 in NYSE & 399 in Nasdaq
VIX UP 14.76% @ 11.66
Oil @ $63.73
Gold @ $1337.10
AH news...JUNO UP 42.76%, BWLD Down 6.35%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE started very strong by making a new all time highs in Dow, S&P 500 and Nasdaq, Dow was UP 283 @ high of the day but went down 100 points @ low of the day, but closed down only 10 points. Today was a profit taking day, buyers came in @ low of the day again. This pullback was a welcome news as froth was taken out in a hurry, VIX jumped to a reasonable 11.66 area, lot of room for bullish action.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2776.42, low 2768.64, high 2807.54
RSI @ 77.63
CMF @ 0.226
Internals were :
Down volume led by 2.02 to 1 in NYSE & 1.79 to 1 in Nasdaq
Declining stocks led by 2.04 to 1 in NYSE & 2.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 359 in NYSE & 399 in Nasdaq
VIX UP 14.76% @ 11.66
Oil @ $63.73
Gold @ $1337.10
AH news...JUNO UP 42.76%, BWLD Down 6.35%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE started very strong by making a new all time highs in Dow, S&P 500 and Nasdaq, Dow was UP 283 @ high of the day but went down 100 points @ low of the day, but closed down only 10 points. Today was a profit taking day, buyers came in @ low of the day again. This pullback was a welcome news as froth was taken out in a hurry, VIX jumped to a reasonable 11.66 area, lot of room for bullish action.
BLOG does NOT give buy or sell.
Saleem
Indices UP .06% to .49%.....NICE !!!!
Indices were sharply higher @ open but were subjected to profit taking, Nasdaq lost all its gains while Down has retained half of its earlier highs, all indices made a brand new all time high. Indices are @ low of the day.
S&P 500 @ 2788.28, high 2807.54, low 2787.72
Internals are mostly negative.
Oil Down 29 cents
Gold UP $2.50
Canadian $ UP 1 tick @ .7582...Canadian Central bank expected to raise interest rate by .25% around 10 AM tomorrow.
VIX UP 12.80% @ 11.46.....good for equities
In my portfolio... Added 70% MARA @ $3.75
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are down
@ 1.51 following are green :
BIDU CTRP SHOP WB TSLA TRIL OLED MU GG AMZN
LVS V PCLN LNG GPRO CIEN WYNN GS CRUS LRCX
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2788.28, high 2807.54, low 2787.72
Internals are mostly negative.
Oil Down 29 cents
Gold UP $2.50
Canadian $ UP 1 tick @ .7582...Canadian Central bank expected to raise interest rate by .25% around 10 AM tomorrow.
VIX UP 12.80% @ 11.46.....good for equities
In my portfolio... Added 70% MARA @ $3.75
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are down
@ 1.51 following are green :
BIDU CTRP SHOP WB TSLA TRIL OLED MU GG AMZN
LVS V PCLN LNG GPRO CIEN WYNN GS CRUS LRCX
BLOG does NOT give buy or sell.
Saleem
Monday, January 15, 2018
TAPE keeps moving UP......
TAPE has perplexed many seasoned traders, indices are not following old traditional technical definition of "overbought "......
Old traditional definition of overbought is RSI @ 60......
Currently RSI in S&P 500 is 83.42.......
Lat time RSI dipped below 60 was in second week of November 2017.....
SO...for last 9 weeks we have gone UP in RSI......
Strength in RSI is a sign of money flowing in market @ above average level.....
Currently, based on old interpretation, retail investors are " most exposed in this TAPE "
MAYBE.....just maybe, retail investors are getting in this market after being away from this market for last 17 years......
There is too much demand for stocks from retail, institutions and many portfolio managers who are " most cautious "
I do not see any sign which tells me that we are going to make
a " u turn " in this market.
We MAYBE @ the start of biggest inflow in stock market, retail investors are @ the highest level of exposure.....
IMAGINE...IF...institutions start allocating " trillions " into equities......
I do think we are witnessing inflow based on "lowest interest rate environment "
Money is finding stocks to be cheapest in terms of PE values...compared to other times of euphoria..
1999 / 2000 PE was "non existent " in most stocks.....
Established companies like CSCO were trading @ triple of current multiple........and still going higher....
SO..based on " new Tax treaty " profitability of most corporation in US is looking much brighter than before.....
In any "bullish " environment, worst mistake IS when one tries to guess where the TOP is ......
In conclusion, stay with this market in a diversified portfolio for a long time, we may have just started on another run in this bullish TAPE.....
Good luck with your own thesis and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Old traditional definition of overbought is RSI @ 60......
Currently RSI in S&P 500 is 83.42.......
Lat time RSI dipped below 60 was in second week of November 2017.....
SO...for last 9 weeks we have gone UP in RSI......
Strength in RSI is a sign of money flowing in market @ above average level.....
Currently, based on old interpretation, retail investors are " most exposed in this TAPE "
MAYBE.....just maybe, retail investors are getting in this market after being away from this market for last 17 years......
There is too much demand for stocks from retail, institutions and many portfolio managers who are " most cautious "
I do not see any sign which tells me that we are going to make
a " u turn " in this market.
We MAYBE @ the start of biggest inflow in stock market, retail investors are @ the highest level of exposure.....
IMAGINE...IF...institutions start allocating " trillions " into equities......
I do think we are witnessing inflow based on "lowest interest rate environment "
Money is finding stocks to be cheapest in terms of PE values...compared to other times of euphoria..
1999 / 2000 PE was "non existent " in most stocks.....
Established companies like CSCO were trading @ triple of current multiple........and still going higher....
SO..based on " new Tax treaty " profitability of most corporation in US is looking much brighter than before.....
In any "bullish " environment, worst mistake IS when one tries to guess where the TOP is ......
In conclusion, stay with this market in a diversified portfolio for a long time, we may have just started on another run in this bullish TAPE.....
Good luck with your own thesis and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, January 12, 2018
Indices closed UP .67% to .89%....NICE !!!!
Indices closed UP on good earnings and retail report. Dow, S&P 500 and Nasdaq all closed @ new all time highs, new 52 wk highs climbed to its highest level in a long time. CMF also improved in all major index.
S&P 500 @ 2786.24, high 2787.85, low 2769.64
RSI @ 83.42
CMF @ 0.218
Internals were :
UP volume led by 1.82 to 1 in NYSE & 1.37 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & 1.54 to 1 in Nasdaq
Net new 52 wk highs were leading by 3338 in NYSE & 405 in Nasdaq
VIX UP 2.83% @ 10.16
Oil @ $64.30
Gold @ $1334.90
Canadian $ @ .7481
Stocks which were UP 1% or more included
BIDU MARA MRVL SHOP WB
RIOT AAPL BZUN NFLX TWTR CNQ GG BAC TECK GOOG
AMZN ABX KGC QRVO SWKS MSFT DNKN EXPE SU YUM
FFIV PCLN FNSR CHK TK FEYE YELP WYNN TRIP MLNX
MGA OTCL MS AEM ULTA KORS AAL M CNX......
Here is my portfolio weighting :
BIDU 22.40%
WB 17.20%
SHOP 14.00%
SQ 13.90%
CTRP 12.60%
MRVL 8.40%
MOMO 8.40%
MARA 3.20%
Next post by 6 PM on Monday ( market is closed on Monday for MLK holiday )
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2786.24, high 2787.85, low 2769.64
RSI @ 83.42
CMF @ 0.218
Internals were :
UP volume led by 1.82 to 1 in NYSE & 1.37 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & 1.54 to 1 in Nasdaq
Net new 52 wk highs were leading by 3338 in NYSE & 405 in Nasdaq
VIX UP 2.83% @ 10.16
Oil @ $64.30
Gold @ $1334.90
Canadian $ @ .7481
Stocks which were UP 1% or more included
BIDU MARA MRVL SHOP WB
RIOT AAPL BZUN NFLX TWTR CNQ GG BAC TECK GOOG
AMZN ABX KGC QRVO SWKS MSFT DNKN EXPE SU YUM
FFIV PCLN FNSR CHK TK FEYE YELP WYNN TRIP MLNX
MGA OTCL MS AEM ULTA KORS AAL M CNX......
Here is my portfolio weighting :
BIDU 22.40%
WB 17.20%
SHOP 14.00%
SQ 13.90%
CTRP 12.60%
MRVL 8.40%
MOMO 8.40%
MARA 3.20%
Next post by 6 PM on Monday ( market is closed on Monday for MLK holiday )
BLOG does NOT give buy or sell.
Saleem
Thursday, January 11, 2018
Indices closed UP .70% to .81%....NICE !!!!
Indices closed UP.
S&P 500 @ 2767.56, high 2767.56, low 2752.78
RSI @ 80.90
CMF @ 0.120
Internals were :
UP volume led by 4.72 to 1 in NYSE & 3.02 to 1 in Nasdaq
Advancing stocks led by 3.40 to 1 in NYSE & 3.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 266 in NYSE & 297 in Nasdaq
VIX UP .61% @ 9.88
Oil @ $63.80
Gold @ $1322.50
Stocks which were UP 1% or more included CTRP SQ
TRIL BZUN AMD NFLX OLED SPWR FSLR JKS
CSIQ VRX TECK FCX AMZN LEN KBH QRVO
SWKS EXPE TRIP PCLN VECO TWLO FNSR
CRUS CHK TK RIG MLNX ULTA AAL M
CNX.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed @ high of the day and strongest internals i have seen in a long time, Dow , S&P 500 and Nasdaq all closed @ new all time high, this TAPE is super strong and cannot be judged by old technicals of RSI. Stay with this market as rewards are much more defined than risk. On Friday's there is only a closing BLOG around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2767.56, high 2767.56, low 2752.78
RSI @ 80.90
CMF @ 0.120
Internals were :
UP volume led by 4.72 to 1 in NYSE & 3.02 to 1 in Nasdaq
Advancing stocks led by 3.40 to 1 in NYSE & 3.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 266 in NYSE & 297 in Nasdaq
VIX UP .61% @ 9.88
Oil @ $63.80
Gold @ $1322.50
Stocks which were UP 1% or more included CTRP SQ
TRIL BZUN AMD NFLX OLED SPWR FSLR JKS
CSIQ VRX TECK FCX AMZN LEN KBH QRVO
SWKS EXPE TRIP PCLN VECO TWLO FNSR
CRUS CHK TK RIG MLNX ULTA AAL M
CNX.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed @ high of the day and strongest internals i have seen in a long time, Dow , S&P 500 and Nasdaq all closed @ new all time high, this TAPE is super strong and cannot be judged by old technicals of RSI. Stay with this market as rewards are much more defined than risk. On Friday's there is only a closing BLOG around 7 PM.
BLOG does NOT give buy or sell.
Saleem
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