Indices closed down.
S&P 500 @ 2717.07, low 2698.67, high 2742.94
RSI @ 41.76
CMF @ 0.124
Internals were :
Down volume led by 3.82 to 1 in NYSE & 5.44 to 1 in Nasdaq
Declining stocks led by 3.29 to 1 in NYSE & 3.24 to 1 in Nasdaq
Net new 52 wk lows were leading by 136 in NYSE & 12 in Nasdaq
VIX UP 25.85% @ 17.33
Oil @ $68.08
Gold @ $1268.90
AH news...PCAR UP 9.09%, RUN Down 3.35%
AH Futures Mixed
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE followed escalation in trade war with China & EU, Dow is below 50 & 200 DMA, S&P 500 went below 50 DMA but closed a hair above, Nasdaq firmly above 50 & 200 DMA.
This trade tweets are totally out of control, everyday new escalation and there seems to be no stopping. Market will go through this uncertainty with a defined technical breakdown.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
Sold COHU @ 24.42
Deal uncertainty and chip cycle worries led me to sell this one versus any other pick in the portfolio as I needed some cash for other ideas.
Added a little HUYA @ 33.23
It was still too small in the portfolio for how important I view the thesis and future of the company.
Bought SAIL @ 25.10
A identity governance company similar to OKTA, this company is cheaper and already profitable, albeit growing at a slightly slower rate. I like the chart on the 50 DMA breakout.
Stocktrader
Hi Saleem,
Trimmed a little BEAT @ 45.19 to take profits and raise cash.
Added to SAIL @ 25.04 to balance out the position size.
Stocktrader
Hi Stocktrader,
Good luck on SAIL & HUYA.....
Saleem
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