Thursday, May 17, 2018

Indices closed down 0.09% to 0.22%.....

Indices closed down.

S&P 500 @ 2729.13, low 2711.36, high 2731.96

RSI @ 58.45

CMF @ 0.138

Internals were :

UP volume led by 1.19 to 1 in NYSE & .91 to 1 in Nasdaq

Advancing stocks led by 1.15 to 1 in NYSE & 1.76 to 1 in Nasdaq

Net new 52 wk highs were leading by 135 in NYSE & 129 in Nasdaq

VIX UP 0.07% @ 13.43

Oil @ $71.49

Gold @ $1289.40

AH news....AMAT Down 4.56%, JWN Down 6.95%
                   VJET UP 7.74%

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE wanted to rally but uncertainty over North Korea summit and Bond yield rising was impacting but everything fell down in a hurry with the famous tweet that deal with China not probable. Internals held up for the most part in positive. Many stocks were strong in today's rally, a positive close on Friday is always welcome. There is only a closing BLOG on Friday's around 7 PM.

BLOG does NOT give buy or sell.

Saleem


9 comments:

Stocks100 said...


Hi Stocktrader,

Sold MOMO @ $40.35.

Bought BIDU @ $259.32

Added 40% HUYA @ $19.87

Saleem

stocktrader_1996 said...

Hi Saleem,

Nice profits on MOMO!

Good luck with BIDU and more HUYA!

If you continue to play the Chinese internet space, remember to watch BILI too :)

Stocktrader

Stocks100 said...

Hi Stocktrader,

I have been involved with Chinese stocks for decades but do not know about BILI....will look into it now....thanks!!!

Saleem

Stocks100 said...


Hi Stocktrader,

Sold CIEN $25.44.

Added 70% BIDU @ $257.71

Saleem

stocktrader_1996 said...

Hi Saleem,

Yes, my first love was NTES in '02. I was young, played it on margin, got stopped out, and missed out on the 500%+ run...but was a good lesson.

Good luck with more BIDU.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold RUN @ 10.97

After further review, I'm less sure how the future plays out for the solar installers. With financing costs rising, and utilities pushing back, I'll step to the sidelines for now.

This frees up cash for a different play also. I'm looking at MPC or SAIL primarily.

Stocktrader

Stocks100 said...

Hi Stocktrader,

My trading style last few years does not allow for home runs just singles.....

Good luck with proceeds from RUN.

Saleem

stocktrader_1996 said...

Hi Saleem,

Bought MPC @ 80.04

This one was actually on my radar yesterday morning but I didn't get a chance to buy because I was occupied with other things.

Refiners continue to ramp profits as gasoline demand grows and spreads widen. These guys just announced a meaningfully accretive acquisition, and underinvestment in global refining for many years now has created a particularly great profit environment.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good luck with MPC.....

Saleem