Indices closed down.
S&P 500 @ 2775.63, low 2774.65, high 2791.47
RSI @ 62.07
CMF @ 0.144
Internals were :
Down volume led by 2.42 to 1 in NYSE & 1.05 to 1 in Nasdaq
Declining stocks led by 1.99 to 1 in NYSE & 1.27 to 1 in Nasdaq
Net new 52 wk highs were leading by 91 in NYSE & 181 in Nasdaq
VIX UP 4.86% @ 12.94
Oil @ $66.64
Gold @ $1301.30
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed @ low of the day, Fed policy statement had one element of surprise, an extra hike this year and 3 in 2019. US economy and worldwide economy is showing robust growth thus interest rates needs to go UP all over. Chinese small caps are in overdrive and may need to cool off, keep an eye on RSI for relative valuation.
BLOG does NOT give buy or sell.
Saleem
15 comments:
Sold WTW before close @94.15
Hi Stocktrader,
Bought BILI @ $20.50
Bought HUYA @ $39.62.....both in pre market.
My finger is on sell button on these 2 stocks as they are overbought....
Saleem
Hi explorer,
Nice trade!
Hi Saleem,
Good luck with the high-flying Chinese gaming stocks!
Stocktrader
Hi Saleem & Stocktrader,
Sold WIX @ 102.60
Thanks,
Explorer
Hi explorer,
Nice run and profits!
Stocktrader
Hi Saleem,
SOLD BILI @20.59
BOUGHT IQ @35.11
Current Holdings IQ, WU, SOGO, QD
Best of Luck with your picks.
Paramjeet
Hi Saleem & Stocktrader,
Bought KSS on the pullback @73.40
Thanks,
Explorer
Hi explorer,
Good luck with the new pick!
Stocktrader
Hi Explorer,
Good luck with KSS.
Saleem
Hi Paramjeet,
Good luck with IQ.....
Saleem
Hi guys,
When I started buying BILI around $10, I almost bought IQ at $18 along with it but didn't want to get that concentrated and speculative in the Chinese internet space (having BABA and YY already at the time). These stocks sure have had some crazy runs!
Stocktrader
Hi Stocktrader,
Hopefully you will not write a similar message 6 months from now quoting today's prices......thing do move fast in some sectors.....
I still remember selling GOOG @ $170 area ..saying it does not have room to run.....
Saleem
SOLD QD @9.36
BOUGHT SOGO @13.01
Chinese stocks are in serious overdrive. Every dip is bringing new buyers/funds and the stocks are hitting higher highs.
Good Luck to all.
Paramjeet
Hi Paramjeet,
The first true down day is going to be severe for these stocks given the massive overbought conditions now. We'll also probably start to see some separation in ideas/flows when they all stop moving exactly together. For now though, the party continues.
Stocktrader
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