Indices closed UP.
S&P 500 @ 2730.13, high 2742.10, low 2725.47
RSI @ 61.86
CMF @ 0.129
Internals were :
UP volume led by 1.12 to 1 in NYSE & 1.47 to 1 in Nasdaq
Declining stocks led by 1.10 to 1 in NYSE & 1.20 to 1 in Nasdaq
Net new 52 wk highs were leading by 92 in NYSE & 110 in Nasdaq
VIX UP 2.21% @ 12.93
Oil @ $71.06
Gold @ $1314.60
Stocks which were UP 1% or more included NXPI FSLR
HUYA MU OLED BABA CNQ AMD JKS LRCX SU
MRVL SINA SPWR TECK TWTR CHK RIG SPWR
FNSR MGA OSTK CRUS SWKS X CNX....
AH news....AMPH UP 18.67%, VIPS Down 14.45%
A Down 6.88%....
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE started strong then faded but closed UP. Internals were mixed. This TAPE needs digestive phase for a nice 6 week run from below 200 DMA, this means few days of pullback will resolve overbought conditions. Most stocks pulled back from highs which is telegraphing weakness. How we close becomes a focus.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hi Saleem,
Sold FDX @ 248.60 to take profits
Bought MU @ 53.11
New positive notes ahead of the investor day might provide an upside catalyst.
Stocktrader
Hi Stocktrader,
Good luck with MU.
Saleem
Hi Saleem,
Sold YY @ 102.91
Although I think this stock is very cheap, it's now a major "double-dip" on my HUYA thesis given YY has an ~40% stake in the company and was the major reason many people owned it. I needed to free up some cash and couldn't pick out a better sell at the moment.
Bought RUN @ 11.03
After nice earnings and a positive ruling in California requiring solar roofs starting in 2020, I think there could be an institutional accumulation for a longer running growth story than maybe people realized. A nice breakout chart and good P/E for a solar company, I think this story and stock could have legs.
Stocktrader
Hi Stocktrader,
I joined you in MU @ $54.03
Saleem
Hi Stocktrader,
Also bought RUN @ $11.02
Good luck to you & me.
Saleem
Hi Saleem,
Trimmed BABA @ 195.28
It was a major overweight in my portfolio that wasn't necessary anymore given the nice gains since my purchase and a questionable macro environment in China.
Bought EAF @ 18.82
A pure play on graphite electrodes which is seeing increasing using in transportation, solar, and oil and gas exploration. Initial analyst commentaries post-IPO were very positive with indications of nice future growth ahead with good valuation still.
Stocktrader
Hi Saleem,
Good luck with our new picks today!! :)
Stocktrader
Hi Stocktrader,
Bought a small position in EAF....@ $18.93...it is follow stocktrader day in this BLOG
Saleem
Hi Saleem,
Good luck with EAF. I'm not sure when/if it'll move because it's a generally slower stock, but I thought it was a good story and setup.
Today does appear to be another HUYA day though.
Stocktrader
Hi Stocktrader,
Can you believe it, i have placed order to buy HUYA 2 days in a row and it had a lift off as i placed my order......good for you though.....
Saleem
Hi Saleem,
Ugh, I hate when that happens, and this time it was even more painful I'm sure. Maybe the market will take it down at some point and you can enter...
Also, I will be having another eye surgery tomorrow and will be mostly out of commission for a day or so. It's rather poor timing given how well I'm doing in my trading account currently (retirement portfolio too obviously but I don't need as much active management there despite the flurry of trades today), but maybe it will be good to have a day off.
Stocktrader
Hi Stocktrader,
Good luck with eye surgery, please give 24 hour complete rest for quick recovery, those tiny screen takes a toll on eyes for everyone.
Good luck!
Saleem
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