Indices closed UP.
S&P 500 @ 2746.87, high 2747.16, low 2740.54
RSI @ 59.17
CMF @ 0.183
Internals were :
UP volume led by 1.60 to 1 in NYSE & 1.90 to 1 in Nasdaq
Advancing stocks led by 1.83 to 1 in NYSE & 1.35 to 1 in Nasdaq
Net new 52 wk highs were leading by 205 in NYSE & 223 in Nasdaq
VIX Down 5.35% @ 12.74
Oil @ $64.75
Gold @ $1297.30
Stocks which were UP 2% or more included BIDU NVDA
HUYA EAF SQ NTES VICR SHOP CTRP JD BABA
AMD LULU ROKU TWTR ALDR FEYE CRUS
ULTA M......
AH news...KNDI UP 11.69%, PWLW 4.93%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was strong today, Nasdaq made a new all time high, internals were positive. Many stocks kept outpeforming today. Many new sectors keep joining 52 wk high list. Strong stocks are getting stronger and ready to make new 52 wk or all time highs. Stay diversified with focus on strength.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Sold SWKS @ 100.57 to take profits
Stocktrader
Hi Saleem,
Sold RCL @ 104.44 to free up some cash
Stocktrader
Hi Saleem,
Sold GTLS @ 69.05 to take profits
Stocktrader
Hi Saleem,
Bought PANW @ 203.17
Stocktrader
Hi Saleem,
Bought TPIC @ 26.22
Stocktrader
Hi Stocktrader,
Good luck with PANW and TPIC.....
Good moves in booking profit and freeing up$$$$$
Saleem
Hi Saleem,
Ok, I have a bit more time now to provide rationales:
SWKS - I sold because I had too much chip exposure, cellphone cycles appear to be lengthening, and the stock faced heavy resistance around these levels. I still like the story of 5G chip deployment, but this was the odd man out of the portfolio when I needed cash.
RCL - I was actually looking at selling yesterday but thought I'd wait another day due to the up move--that turned out to cost me haha. RCL was just not acting well enough given the rise in other consumer spending stocks and the fairly large decline in oil/gas. Today's analyst downgrade of the cruise stocks probably highlights what investors were fearing.
GTLS - I sold because it's hard for me to justify the valuation in this industrial stock despite the positive tailwinds from LNG terminals, although with sometimes lumpy bookings.
PANW - I've been trying to increase my exposure again to "new tech" stocks after missing SAIL badly despite staring right at it as it traded $21-$22. I thought this pullback in PANW after what appeared to be pretty strong growth still might be an opportunity.
TPIC - I found this materials maker while doing some searches a few weeks ago. It is mostly an alternative energy play suppling the wind blade market throughout the world. Nice earnings last quarter and a good chart setup got me to enter.
Overall, small caps look like the big winner of the year along with tech generally. I'm trying to selectively shift my portfolio around a bit to take better advantage of these trends while not getting too heavy in any one sector/industry/idea. I am also looking at selling HAL and buying OPTN and KIDS if price allows.
Stocktrader
Hi Saleem,
Bought IART @ 63.14
After resting for a while and coming down 5% in recent days, I think this stock can move again. It is really at the center of many trends in medical technology and I think there's room to grow significantly from here.
Stocktrader
Hi Stocktrader,
Your reasoning to buy is a gift to all of us, so keep posting whenever you have time.
Good luck with IART.
Saleem
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