Tuesday, June 5, 2018

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2748.80, high 2752.61, low 2739.51

RSI @ 59.52

CMF @ 0.211

Internals were :

UP volume led by 1.07 to 1 in NYSE & 1.70 to 1 in Nasdaq

Advancing stocks led by 1.43 to 1 in NYSE & 1.79 to 1 in Nasdaq

Net new 52 wk highs were leading by 177 in NYSE & 224 in Nasdaq

VIX Down 2.67% @ 12.40

Oil @ $65.52

Gold @ $1302.20

Stocks which were UP 1% or more included BILI WB
BZUN CIEN NXPI VICR SHOP JD AMZN EBAY
AMAT EXPE FCX NFLX ROKU SINA TECK
TWTR VRX RIG FEYE YELP TRIP MLNX
FNSR OSTK KORS CMG M CNX.....

AH news...HUYA UP 8.98%, DIOD Down 9.54%
                  AMBA Down 8.71%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was mixed but many stocks made new all time highs like AAPL AMZN, Nasdaq made a new all time high.Internals improved further.. Trade dispute impacting traders. ZTE development will be a welcome change along with NXPI QCOM. We will be entering overbought territory in Wednesday session, booking profit may not be a bad focus. VIX getting oversold is an issue also.

BLOG does NOT give buy or sell.

Saleem

12 comments:

stocktrader_1996 said...

Hi Saleem,

Some positives and negatives from last night's HUYA call:

+: Not only did they report a revenue increase of 115% YoY in Q1, they guided for nearly the same in Q2, which could provide conservative still. Their advertising business is really starting to ramp (212% increase YoY), and the nascent partnership with Tencent should drive even larger traffic and firmly solidify their position as the #1 live gaming/e-sports site in China.

-: The LT margin question was mostly avoided, which was unfortunate. There are certain incremental costs with every user on the platform (like revenue sharing and bandwidth costs), so they don't really get "free growth" once they hit critical mass like some other social media platforms. This calls into some question what ultimate price should be paid for the business.

Summary: Will trim shares today to reduce my position size to equal levels to other holdings in my portfolio (necessary given the nearly 100% runup since purchase). It is tempting to sell the whole thing to see if I can buy back lower, but I'll resist that temptation for now.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Trimmed HUYA @ 30.63

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold HAL @ 48.18

Freeing up cash for a different play which can move better. Saudi Arabia seems more serious about adding oil to the market than I anticipated.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Thanks for your analysis on HUYA...much appreciated.

Bought HUYA $29.29......

Saleem

stocktrader_1996 said...

Hi Saleem,

Bought MOMO @ 50.42

After great earnings and guidance, I thought this was a nice way to expand my Chinese exposure after significantly trimming HUYA.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good luck with MOMO.

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with HUYA, great entry!

Stocktrader

Stocks100 said...

Hi Stocktrader,

Sold BIDU $262.77

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with BIDU proceeds!

Stocktrader

Stocks100 said...

Hi stocktrader,

Sold NVDA @ $263.12

Saleem

stocktrader_1996 said...

Hi Saleem,

Trimmed some VICR @ 49.06 to get back to a more normal position size after the large gains.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Nice gains on NVDA--good luck with next pick!

Stocktrader