Wednesday, February 28, 2018

Indices closed down .78% to 1.50%.....

Indices closed down.

S&P 500 @ 2713.83, low 2713.54, high 2751.62

RSI @ 48.07

CMF @ -0.124

Internals were :

Down volume led by 4.48 to 1 in NYSE & 2.21 to 1 in Nasdaq

Declining stocks led by 2.55 to 1 in NYSE & 2.65 to 1 in Nasdaq

Net new 52 wk lows were leading by 88 in NYSE & 11 in Nasdaq

VIX UP 6.78% @ 19.65

Oil @ $61.64

Gold @ $1317.90

Stocks which closed green included SNAP SQ
JD BIDU SHOP AMZN CSIQ JKS EXPE
LULU MRVL MU NFLX SBUX SINA
TRIL TWTR YUM TRIP CRUS ULTA
M PANW CNX.....

AH news....MNST Down 6.11%, BOX Down 13.22%

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold Down

About market, TAPE slumped in the last hour and closed @ low of the day, S&P 500 and Dow both closed below 50 DMA, Nasdaq is still above 50 DMA which gives some hope, IF history is any guide, then Nasdaq may join in going below 50 DMA also. It is very important to look @ your exposure in this environment, stay with high conviction stocks.

BLOG does NOT give buy or sell.

Saleem

Indices UP .15% to .70%...NICE !!!!

Indices are UP while Nasdaq is showing major strength.

S&P 500 @ 2755.65, high 2761.52, low 2738.02

Internals are mostly positive.

Oil Down 87 cents

Gold UP $1.70

Canadian $ Down 49 tick @ .7277

VIX Down 2.10 @ 18.20

Portfolio BZUN CTRP FSLR NTES SNAP SQ

Most stocks are UP

@ 2.33 following are red :

CTRP FSLR NTES NVDA WB BABA CNQ AMD
ABX DNKN FCX GE LEN MOMO PCLN ROKU
SPWR SU TECK TSLA VRX VECO CHK TK
RIG LNG CIEN MGA AEM TNA KBH OPK...

BLOG does NOT give buy or sell.

Saleem

Tuesday, February 27, 2018

Indices closed down 1.16% to 1.27%....

Indices closed down.

S&P 500 @ 2744.28, low 2744.22, high 2789.15

RSI @ 52.33

CMF @ -0.103

Internals were :

Down volume led by 7.64 to 1 in NYSE & 2.78 to 1 in Nasdaq

Declining stocks led by 3.38 to 1 in NYSE & 3.07 to 1 in Nasdaq

Net new 52 wk highs were leading by 36 in NYSE & 49 in Nasdaq

VIX UP 17.66% @ 18.59

Oil @ $63.01

Gold @ $1318.60

AH news...SQ Down 1.98%, ETSY UP 14.88%

SQ earnings report was a beat in Sales and EPS...

Q4 Sales Actual $283 Million vs expectations of $267 Million a beat by $16 Million,   

EPS actual 8 cents vs expectations of 7 cents, 

Guiding Q1 Sales much higher than consensus, guiding Q1 Sales @ $290 to $295 million vs expectations of $272 Million, 

EPS guidance is between 3 & 5 cents below consensus of 8 cents

AH Futures UP 

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was under selling pressure due to testimony from new Fed chief who is calling for many interest rate hikes to contain inflation. Market had recovered quite a bit, so there was some profit taking. Hopefully market has discounted ever changing interest rate picture. Internals were weak and we closed @ absolute low of the day.

BLOG does NOT give buy or sell.

Saleem

Indices down .44% to .65%......

Tape is reacting to policy testimony by new Fed chief, he is insisting interest rates will go up despite gyrations in stock market.

S&P 500 @ 2760.08, low 2757.07, high 2789.15

Internals are negative by 2 to 1

Oil Down $1.00

Gold Down $14.40

Canadian $ Down 54 tick @ .7267

VIX UP 13.23% @ 17.89

Portfolio BZUN CTRP FSLR NTES SNAP SQ

Most stocks are down

@ 2.18 following are green :

NVDA AAPL SHOP BAC CNQ AMD FFIV MRVL
MU QRVO ROKU TRIL RIG FEYE CIEN MS
ULTA SWKS CMG M PANW CNX.....

SQ is reporting after close, following are expectations :

Q4 Sales $266.26 Million, EPS 7 cents

Q1 Sales guidance $271.86 Million, EPS 8 cents

Expecting a beat in Sales and EPS....

BLOG does NOT give buy or sell.

Saleem

Monday, February 26, 2018

Indices closed UP 1.15% to 1.58%....NICE !!!!

Indices closed UP.

S&P 500 @ 2779.60, high 2780.64, low 2753.78

RSI @ 57.85

CMF @ -0.092

Internals were :

UP volume led by 2.63 to 1 in NYSE & 2.87 to 1 in Nasdaq

Advancing stocks led by 2.04 to 1 in NYSE & 1.91 to 1 in Nasdaq

Net new 52 wk highs were leading by 73 in NYSE & 78 in Nasdaq

VIX Down 4.18% @ 15.80

Oil @ $63.91

Gold @ $1332.80

Stocks which were UP 1% or more included FSLR SQ
AAPL GOOG BIDU AMZN BAC CNQ AMD CSIQ
AMAT FFIV JKS LRCX MA MSFT MU NFLX
QRVO SBUX SPWR TSLA TSM VECO FEYE
CIEN WYNN GS MS ORCL CRUS SWKS
TNA NKE AAL X M PANW.....

AH news...PANW UP 5.19%, FIT Down 13%
                  NTRI Down 27.44%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE continued its bull run and getting pretty close to making new all time highs. Indices closed @ absolute high of the day sign of strong technicals, internals were mostly positive. Most sector participated in today's UP move. TAPE has found its footing and may surprise now on the UP side.

BLOG does NOT give buy or sell.

Saleem 

Indices UP .94% to 1.44%....NICE!!!!

Indices are sharply higher on further fall in bond yield.

S&P 500 @ 2774.10, high 2774.79, low 2753.78

Internals are positive by 2 to 1

Oil UP 39 cents

Gold UP $3.10

Canadian $ Down 53 tick @ .7319

VIX Down 1.88% @ 16.18

Portfolio BZUN CTRP FSLR NTES SNAP SQ

Most stocks are UP

@ 2.13 PM following are down :

BZUN CTRP NTES SNAP NVDA WB SHOP 
GG MOMO PCLN ROKU SINA TWTR 
RIG YELP TRIP AEM SPLK ULTA
KBH CMG.....

BLOG does NOT give buy or sell.

Saleem

Sunday, February 25, 2018

US Market looking healthy......

US market is looking healthy again after gyrating wildly for 3 weeks.

All the averages are above 200 DMA & 50 DMA.....RUT is hair below 50 DMA.....

In terms of overbought and oversold, we are right in between...here is how RSI is stacking up:

Nasdaq       58.55

SOX           56.55

TAN           55.23

S&P 500    53.70

RUT           53.38

Dow           52.53

SO just about every index is above 50 DMA and RSI sporting a very healthy minimum 52.53....

There are lot of stocks which are very close to making new all time highs after testing support.

Again...a diversified approach in many sectors is the way to go with overweight in Technology.

Markets go through these gyrations after dealing with uncertainty, be it political or economic issues...

Now we seem to have a better handle on interest rate hikes.....more orderly than sharp uptick....

This is a fast moving TAPE in both direction....

Stay with your strong acting stocks no matter in which sector, that will pay handsomely.

Winter is winding down in Northeast earlier than expected, which may have repercussion for heating oil and gas.

Trade battle looming in steel sector.....

All in all a very positive scenario going forward.

Good luck with your strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem


Friday, February 23, 2018

Indices closed UP 1.39% to 1.77%....NICE !!!!

Indices closed UP and @ high of the day on falling bond yield. Market internals were very strong.Technology stocks were strong.

S&P 500 @ 2747.30, high 2747.76, low 2713.74

RSI @ 53.70

CMF @ -0.87

Internals were :

UP volume led by 5.45 to 1 in NYSE & 4.25 to 1 in Nasdaq

Advancing stocks led by 4.54 to 1 in NYSE & 2.82 to 1 in Nasdaq

Net new 52 wk highs were leading by 12 in NYSE & 5 in Nasdaq

VIX Down 11.91% @ 16.49

Oil @ $63.55

Gold @ $1330.30

Canadian $ @ .7339

Stocks which were UP included BZUN NVDA AAPL FB 
WB BABA FFIV LEN GOOG LRCX MOMO MU NFLX
QRVO SINA TSM ALDR TWLO TK RIG GS MS OSTK
SPLK TNA M PANW CNX.....

Here is my portfolio weighting :

FSLR     26.30%

CTRP    20.20%

SQ        17.80%

NTES   17.70%

BZUN  15.60%

SNAP    2.50%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, February 22, 2018

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2703.96, high 2731.26, low 2697.77

RSI @ 47.24

CMF @ -0.122

Internals were :

UP volume led by 1.25 to 1 in NYSE & .77 to 1 in Nasdaq

Advancing stocks led by 1.09 to 1 in NYSE & .71 to 1 in Nasdaq

Net new 52 wk lows were leading by 37 in NYSE & highs by 9 in Nasdaq

VIX Down 6.49% @ 18.72

Oil @ $62.77

Gold @ $1332.70

Stocks which were UP 1% or more included CTRP NTES SQ
JD CNQ AMD EXPE DNKN FCX TSLA VECO CHK TK 
RIG MLNX MCD ULTA SWKS M CNX......

AH news.. FSLR Down 2.35%, ACIA Down 10.37%
                 OLED Down 12.85%, BJRI UP 11.11%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE mixed with Dow & S&P 500 closing UP while Nasdaq was down 4 days in a row. Lot of concern and commentary about rising bond yield, Art Cashin talking from experience saying IF 10 year hit 3% we will be in real trouble in equities, we are not too far from there. There is only a closing BLOG on Friday's around 7 PM.

BLOG does NOT give buy or sell.

Saleem

Indices UP .31% to 1.13%....NICE !!!!

Indices are higher on slightly lower 10 year bond yield.

S&P 500 @ 2716.93, high 2731.26, low 2707.14

Internals are positive 

Oil UP $1.03

Gold UP 73 cents

Canadian $ unchanged @ .7299

VIX Down 3.85% @ 19.25

In my portfolio Sold 50% NTES @ $111.85

Portfolio BZUN CTRP FSLR NTES SNAP SQ

Most stocks are UP

@ 2.43 following are red :

BZUN SNAP WB ABX GG KGC LVS MOMO 
NFLX QRVO ROKU SPWR TRIL TWTR
VRX TWLO FNSR WYNN TRIP OSTK
CMG .....

BLOG does NOT give buy or sell.

Saleem

Wednesday, February 21, 2018

Indices closed down .22% to .67%.....

Indices closed down.

S&P 500 @ 2701.33, low 2701.29, high 2747.75

RSI @ 46.82

CMF @ -0.101

Internals were :

Down volume led by 2.55 to 1 in NYSE & 1.25 to 1 in Nasdaq

Declining stocks led by 1.17 to 1 in NYSE & .81 to 1 in Nasdaq

Net new 52 wk highs were leading by 5 in NYSE & 46 in Nasdaq

VIX Down 2.82% @ 20.02

Oil @ $61.68

Gold @ $1332.10

Stocks which were UP 1% or more included BZUN FB WB FCX 
FFIV TWTR ALDR FNSR MGA CMG AAL....

AH news....MLNX UP 10.09%, AAOI Down 13.11%
                   ROKU Down 22.11%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was celebrating Fed minutes showing rapid growth in US economy, Dow shot UP 300 but then 10 year Bond yield jumped to new 4 year high @ 2.94% closing @ 2.935%. Indices @ closed @ absolute low of the day, surprisingly VIX closed down on the day. I guess Bond yield is going to decide every day equity action.

BLOG does NOT give buy or sell.

Saleem

Indices UP .45% to .90%...NICE !!!!

Indices are UP on renewed buying after selling off yesterday, Fed minutes @ 2 PM will be a non event.

S&P 500 @ 2732.15, high 2737.49, low 2717.78

Internals are positive by 2 to 1

Oil Down 32 cents

Gold Down 80 cents

Canadian $ Down 31 tick @ .7325...2018 low against US$

VIX Down 11.70% @ 18.19.....predicting equities to move higher

Portfolio BZUN CTRP FSLR NTES SNAP SQ

Most stocks are UP

@ 12.07 following are red :

SNAP NVDA OLED SHOP AMD LRCX ROKU
SU CHK TK OSTK AEM X....

BLOG does NOT give buy or sell.

Saleem 


Tuesday, February 20, 2018

Indices closed down .07% to 1.01%......

Indices closed down.

S&P 500 @ 2716.26, low 2706.76, high 2737.60

RSI @ 48.86

CMF @ -0.40

Internals were :

Down volume led by 2.49 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks led by 1.99 to 1 in NYSE & 2.05 to 1 in Nasdaq

Net new 52 wk highs were leading by 11 in NYSE & 59 in Nasdaq

VIX UP 5.86% @ 20.60

Oil @ $61.78

Gold @ $131.20

AH news....TTPH UP 9.13%, TWRH Down 2.74%
                  BYD Down 6.13%

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was spooked by rising inflation and higher interest rates in treasury. WMT earnings report was a huge negative which impacted overall investor sentiment. After 6 days of huge gains, we were ripe for profit taking.Dow & S&P 500 closed below 50 DMA but Nasdaq still above. Hopefully by Wednesday close we will be back in positive mode.

BLOG does NOT give buy or sell.

Saleem

Indices mixed.....

Indices are mixed as 10 year yield hit a fresh 4 year high @ 2.91%, high today 2.93%. Nasdaq showing relative strength being in green.

S&P 500 @ 2726.46, low 2717.98, high 2737.60

Internals are negative

Oil UP 17 cents

Gold Down $24.40

Canadian $ Down 76 tick @ .7366

VIX UP 3.24% @ 20.09

In my portfolio :

Sold NVDA @ $249.00

Added 200% BZUN @ $36.22

Started a position in SNAP @ $19.55

Portfolio BZUN CTRP FSLR NTES SNAP SQ

Most stocks are down

@ 1.32 following are green :

BZUN FSLR SQ NVDA JD GOOG OLED SHOP
AMZN BABA AMD EXPE AMAT LRCX MOMO
MRVL ROKU QRVO SINA ALDR FNSR CHK
TK YELP MU WYNN MLNX OSTK CRUS
SPLK SWKS CMG X PANW.....

BLOG does NOT give buy or sell.

Saleem

Monday, February 19, 2018

Excellent recovery in indices.....

Last 6 trading session saw support and major recovery.

Here are some of the tabulation of 2 major index :

S&P 500 went down 11.84% in 10 trading days, has recovered from the lows 8.75% in 6 trading days, all the stats are taking absolute highs to absolute lows in both direction.

Nasdaq went down 11.66% in 10 trading days absolute highs to absolute lows to Friday's high. and have recovered from lows 10.14% in last 6 trading days...taking

Based on my recollection, this could be the fastest selling and fastest recovery in historical terms.

SO...what is the message of this market.......

It went down on " overbought conditions with huge profit to be booked "

It recovered fast because selling was overdone when we breached 200 DMA in 10 trading days...

Biotechs and industrial metals stocks are two of the strongest sector...

Russell and Sox are showing relative strength.....

Does market need a rest now and go sideways or will it pull back to half of its recent gains.....these are the possible scenario we may face.

I will hope that it goes sideways with 2% pullback from recent highs.

No matter what market does, it is important to stay involved in strong behaving stocks, NFLX and AMZN are behaving the-best

NVDA made a new intraday all time high of $250 on Friday..only stock to do that......

There are many stocks which are on the verge of many series of new all time highs, those are the ones to be involved with, this is a market of strong stocks which cannot be ignored.

SO...take a look @ your portfolio again and see where adjustment can be made, last 6 trading days was a tell tale of strength or weakness.

Good luck with your own take of this market and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, February 16, 2018

Indices closed mixed.....

Indices closed mixed when indictment were issued by Special Counsel in USA.Dow & S&P 500 closed UP while Nasdaq was down @ close. This was the-best weekly gain since 2013.

S&P 500 @ 232.22, high 2754.42, low 2725.11

RSI @ 51.08

CMF @ 0.017

Internals were :

UP volume led by 1.26 to 1 in NYSE & .88 to 1 in Nasdaq

Advancing stocks led by 1.43 to 1 in NYSE & 1.34 to 1 in Nasdaq

Net new 52 wk highs were leading by 49 in NYSE & 57 in Nasdaq

VIX UP 1.73% @ 19.46

Oil @ $61.68

Gold @ $1356.20

Canadian $ @ .7467

Stocks which closed green included   CTRP FSLR
GOOG CNQ EBAY EXPE AMAT GE JKS LEN
LRCX LULU LVS MA MOMO MU PCLN
ROKU  TWLO VRX SPWR CIEN WYNN
TRIP ORCL SU TNA KBH CMG IBM X
PANW....

Here is my portfolio weighting :

NTES    26.20%

FSLR    21.10%

NVDA  20.80%

CTRP   14.90%

SQ       13.20%

BZUN   3.80%

Next post by 6 PM on Monday ( Monday markets closed for Presidents day in USA and Family day in Canada )

BLOG does NOT give buy or sell.

Saleem

Thursday, February 15, 2018

Indices closed UP 1.21% to 1.58%....NICE !!!!

Indices closed UP.

S&P 500 @ 2731.20, high 2731.51, low 2689.82

RSI @ 50.94

CMF @ 0.082

Internals were :

UP volume led by 2.66 to 1 in NYSE & 2.98 to 1 in Nasdaq

Advancing stocks led by 2.27 to 1 in NYSE & 2.25 to 1 in Nasdaq

Net new 52 wk highs were leading by 15 in NYSE & 29 in Nasdaq

VIX Down .67% @ 19.13

Oil @ $61.34

Gold @ $1355.30

Stocks which were UP 2% or more included CTRP NVDA SQ
AAPL BIDU DNKN EXPE AMAT GG JKS MRVL MSFT
NFLX PCLN TSLA TWLO CHK TRIP ORCL OSTK
SPLK KORS TNA M......

AH news...SNCR UP 24.73%, TRUE Down 6.13%
                  PI Down 10.65%

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed @ absolute high of the day, a strong technical picture, Dow , S&P 500 and Nasdaq all closed above 50 DMA, another sign that technical picture is very healthy. All internals are positive @ close. It will be another milestone IF we close UP on Friday as it will be 6 days in a row of positive close. There is only a closing BLOG on Friday's around 7 PM.

BLOG does NOT give buy or sell.

Saleem

Indices UP .85% to 1.22%.....NICE !!!!

Indices are UP for 5 days in a row as bond yields are lower on tame inflation data. Indices are near high of the day.

S&P 500 @ 2721.71, high 2722.49, low 2689.82

Internals are positive by 2 to 1

Oil UP 31 cents

Gold Down $2.60

Canadian $ Down 17 tick @ .7495

VIX UP 1.77% @ 19.60

In my portfolio ...Started a position in BZUN @ $36.80

Portfolio BZUN CTRP FSLR NVDA NTES SQ

Most stocks are UP

@ 2.14 following are red :

FB WB ABX CNQ KGC LEN MU QRVO SPWR 
TECK ALDR VECO FNSR RIG MGA ULTA
SWKS KBH CMG ......

BLOG does NOT give buy or sell.

Saleem 


Wednesday, February 14, 2018

Indices closed UP 1.03% to 1.86% ....NICE !!!!

Indices closed UP.

S&P 500 @ 2698.63, high 2702.10, low 2648.87

RSI @ 46.69

CMF @ 0.032

Internals were :

UP volume led by 4.90 to 1 in NYSE & 4.0 to 1 in Nasdaq

Advancing stocks led by 2.26 to 1 in NYSE & 2.94 to 1 in Nasdaq

Net new 52 wk lows were leading by 52 in NYSE & 37 in Nasdaq

VIX Down 22.87% @ 19.26

Oil @ $60.60

Gold @ $1358.00

Stocks which were UP 2% or more included CTRP NVDA
SHOP WB BIDU AMAT MOMO FB BZUN LRCX
BABA ROKU NFLX AMD JD OLED SNAP
LULU VRX CNQ GG BAC TECK AMZN
FCX V ABX AEM JKS LEN SINA DNKN
ALDR VECO TWLO FNSR CHK YELP
CIEN GS TRIP MS OSTK SPLK TNA
NKE KBH CMG IBM X M CNX....

AH news...CSCO UP 6.75%, TEVA UP 8.64%
                 TRIP UP 17.76% , NTAP Down 9.80%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE showed its resiliency by ignoring rate hike and inflation fears based on data. Indices were UP 4 days in a row which may be setting another record in 2 years. Most sectors participated in today's bullish TAPE. This TAPE has the same feel of 2017 and of January 2018 and deserve same bullish focus.

BLOG does NOT give buy or sell.

Saleem

Indices UP .80% to 1.64%....NICE !!!!

Indices are higher despite hotter inflation data and 10 year note @ new 4 year high. We dipped 150+ points on Dow and now we are higher by 221 points, a 371 points turnaround.

S&P 500 @ 2694.50, high 2696.48, low 2648.87

Internals are positive from minimum 2 to 1 to 5 to 1

Oil UP $1.18

Gold UP $25.80

Canadian $ UP 67 tick @ .7476

VIX Down 22.27% @ 19.41

In my portfolio Added 75% SQ @ $41.70

Portfolio CTRP FSLR NVDA NTES SQ

Most stocks are UP

@ 2.20 following are red :

SQ MRVL QRVO EXPE MCD ULTA ....

BLOG does NOT give buy or sell.

Saleem

Tuesday, February 13, 2018

Indices closed UP .16% to .45%......NICE !!!!

Indices closed UP.

S&P 500 @ 2662.94, high 2668.84, low 2637.08

RSI @ 41.53

CMF @ 0.024

Internals were :

UP volume led by 1.19 to 1 in NYSE & 1.76 to 1 in Nasdaq

Advancing stocks led by 1.32 to 1 in NYSE & 1.48 to 1 in Nasdaq

Net new 52 wk lows were leading by 35 in NYSE & 31 in Nasdaq

VIX Down 2.50% @ 24.97

Oil @ $59.19

Gold @ $1330.40

Stocks which were UP 1% or more included
FSLR NVDA NTES SQ
WB MRVL TSLA BABA AAPL 
JD SPWR MU TECK AMZN FCX LVS
MA LEN CSIQ SINA FFIV VECO TWLO
FEYE LNG TWTR CIEN BIDU WYNN TRIP
OSTK KORS AAL X M PANW CNX....

AH news....BIDU UP 5.15%, TWLO UP 6.28%
                    CMG UP 11.69%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE continued its old bullish pattern of opening lower and closing near high of the day. TAPE has been UP 3 days in a row which is very healthy.Any pause will be a good reason to buy, tomorrow inflation numbers may put pressure on indices IF its hot, this may put interest rate hike back on Feds mind.

BLOG does NOT give buy or sell.

Saleem

Indices UP .17% to .29%....NICE !!!!

Indices are showing strong technical strength by opening lower and erasing all the losses, 3rd day of gains is a sign of major turnaround as buyers are stepping in to be in stocks.

S&P 500 @ 2661.54, high 2664.70, low 2637.08

Internals are positive.

Oil Down 2 cents

Gold UP $3.30

Canadian $ Down 29 tick @ .7398

VIX Down 1.56% @ 25.21

Portfolio CTRP FSLR NVDA NTES SQ

Most stocks are UP

@ 2.06 following are red :

AMAT SHOP FB TSM LRCX TRIL GE OLED GG
V ABX KGC AEM EXPE FNSR CHK TK RIG
YELP MGA MCD CRUS ULTA SWKS CMG
IBM .....

BLOG does NOT give buy or sell.

Saleem

Monday, February 12, 2018

Indices closed UP 1.39% to 1.70%....NICE !!!!

Indices closed UP.

S&P 500 @ 2656.00, high 2672.61, low 2622.45

RSI @ 40.49

CMF @ -0.029

Internals were :

UP volume led by 4.58 to 1 in NYSE & 3.16 to 1 in Nasdaq

Advancing stocks led by 2.80 to 1 in NYSE & 1.90 to 1 in Nasdaq

Net new 52 wk lows were leading by 67 in NYSE & 17 in Nasdaq

VIX Down 11.87% @ 25.61

Oil @ $59.29

Gold @ $1326.40

Stocks which were UP 2% or more included FSLR
SHOP WB BIDU MRVL MOMO TSM LRCX
AAPL NFLX AMD OLED MU BAC MS JKS
TECK AMZN CSIQ TWLO TK FEYE TNA
SPLK KBH AAL X CNX......

AH news...VIPS UP 10.56%, VECO UP 4.64%

AH Futures Mixed

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE came back to its old routine of higher open and kept going UP and closed near high of the day. Internals were strong while new lows still maintained lead over new highs. It is technically important to close green on Tuesday to confirm this up move.

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.36% to 1.72%....NICE !!!!

Indices are continuing their move UP from low of Friday.

S&P 500 @ 2655.54, high 2661.68, low 2622.45

Internals are positive by 2 to 1 to 3 to 1

Oil UP 59 cents

Gold UP $11.20

Canadian $ Down 25 tick @ .7399

VIX Down 7.71% @ 26.82

Portfolio CTRP FSLR NVDA NTES SQ

Most stocks are UP

@ 1.48 following are red :

CTRP NVDA GE TWTR SNAP SPWR FCX EXPE
SU YUM FNSR GPRO WYNN TRIP OSTK
ULTA CELG CMG ...

BLOG does NOT give buy or sell.

Saleem

Sunday, February 11, 2018

Volatility to continue.......

It has been a very volatile week in markets since previous Friday.

Last week was the-worst week in 2 years.

Reasons given for this volatility / slump are many, they are :

10 year yield @ 2.88%...a 4 year high

Wage inflation picking up.

High Frequency Machines / Traders have gone out of control....

VIX related derivatives are running out of control

BUT the-most potent reason was simple.....we have gone too far too fast....or... major complacency in the mind of traders...

In 2017 S&P 500 was UP 19.4%...

In 2018 in few weeks we added 7.5% in S&P 500, Nasdaq added another 8.7%, Dow 7.7%...

In 2018..AMZN was UP 20%, NFLX UP 43%....we are talking max 6 weeks of 2018.....

SO...it was inevitable that we would correct sooner which has became later since 2017

SO.. after a gain of 26.9% in S&P 500 we pulled back 11.84% from high to low......

What stunned everyone including me, not 11.84% pullback , but it is the speed of this pullback, 6 trading days did it all......

About volatility, i expect it to continue for several weeks, UP DOWN like a yoyo....this may entail retesting and going below Friday's lows.......

SO..do not be complacent again, try to book profit IF you can find any and try to be nimble until volatility dies......

We have a target of S&P 500 for all 2018 which is 3025

Support around 2540 level...which got penetrated easily as low as 2532.69 on Friday.....S&P 500 went below 200 DMA...along with Russell 2000.......

It is very important to adjust to the market we got, not the the market we want......

Good luck with your own take of this market and your own comfort level.

BLOG does NOT give buy or sell.

Saleem


Friday, February 9, 2018

Indices closed UP 1.38% to 1.49%....NICE !!!!

Indices closed UP after testing 200 DMA in major indices and many stocks.

S&P 500 @ 2619.55, high 2638.67, low 2532.69

RSI @ 34.83

CMF @ -0.014

Internals were :

UP volume led by 2.47 to 1 in NYSE & 1.88 to 1 in Nasdaq

Advancing stocks led by 1.42 to 1 in NYSE & 1.36 to 1 in Nasdaq

Net new 52 wk lows were leading by 350 in NYSE & 240 in Nasdaq

VIX Down 13.15% @ 29.06

Oil @ $59.20

Gold @ $1315.70

Canadian $ @ .7399

Stocks which were UP 2% or more included NVDA
WB MRVL MOMO FB TSM LRCX BZUN GE OLED
TWTR TECK GOOG MSFT FCX V MA SU TUM VECO
TWLO FEYE LNG MLNX SINA OSTK CRUS ULTA TNA
SWKS NKE CNX.....

Here is my portfolio weighting :

NTES       29.30%

NVDA      23.305

FSLR       23.00%

CTRP      16.50%

SQ            7.90%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, February 8, 2018

Indices closed down 3.75% to 4.15%.......

Indices closed down.

S&P 500 @ 2581.00, low 2580.56, high 2685.27

RSI @ 28.12

CMF @ -0.020

Internals were :

Down volume led by 10.02 to 1 in NYSE & 6.35 to 1 in Nasdaq

Declining stocks led by 8.23 to 1 in NYSE & 5.58 to 1 in Nasdaq

Net new 52 wk lows were leading by 199 in NYSE & 115 in Nasdaq

VIX UP 20.66% @ 33.46

Oil @ $61.45

Gold @ $1319.00

In my portfolio trades around 3 PM :

Sold 60% NTES @ $291.50

Bought NVDA @ $223.46

NVDA reported a superb quarter by beating EPS expectations of $1.16, actual $1.78 beat by 52 cents & Sales consensus $2.68 billion, actual $2.91 billion UP 34% yearly gain, by a very wide margin, also guiding well above street consensus on Q1 Sales guiding Sales $2.84 billion to $2.96 billion vs consensus of $2.47 billion & EPS of $1.59 to $1.72 vs consensus of 98 cents.....

AH news....NVDA UP 7.53%, FEYE UP 12.11%
                   EXPE Down 19.17%

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was simply ugly and crashed into close with stunning losses in all indices, Dow & S&P 500 have entered correction territory of 10%. I know there is a very  " thick pessimism " about stocks and this market, but it is an indicator that we may have reached an important support area. RSI of 28.12 is telling me, we are deeply deeply oversold already, it may be a time to build position in strong stocks with earning momentum. My take may sound even crazy, but i made a switch around 3 PM today, when we were down around 500 points in Dow. Markets will do what it wants to do, but it is not profitable to wait for a clear signal that all is well, you may be missing 10% of the move. There is only a closing BLOG on Friday's around 7 PM.

BLOG does NOT give buy or sell.

Saleem