Tuesday, July 24, 2018

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2820.40, high 2829.99, low 2811.12

RSI @ 64.61

CMF @ 0.167

Internals were :

UP volume led by 1.32 to 1 in NYSE & .48 to 1 in Nasdaq

Advancing stocks led by .94 to 1 in NYSE & .48 to 1 in Nasdaq

Net new 52 wk highs were leading by 73 in NYSE & 85 in Nasdaq

VIX Down 1.66% @ 12.41

Oil @ $68.52

Gold @ $1225.50

AH ER....T Down 1.20%, TER UP 8.96%
               IRBT UP 18.77%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was split as Dow & S&P 500 stayed positive into close while Nasdaq was red. Earnings have been strong and benefit to overall market is missing, extremely narrow and mostly FANG related new all time highs happening on a daily basis. Tweet storm is not helping confidence in direction of this market.

BLOG does NOT give buy or sell.

Saleem

9 comments:

stocktrader_1996 said...

Hi guys,

NXPI is pretty interesting here sub-$97. It's expected to earn roughly the same as SWKS, and with a higher growth rate, so downside seems pretty limited with upside to the buyout price of $127.50.

Stocktrader

Stocks100 said...


Hi Stocktrader,

YES...NXPI is a great entry here.....

Added 30% AMD @ $16.21 in pre market.

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with big AMD into earnings!

Stocktrader

Stocks100 said...

Hi Stocktrader,

Added another 25% AMD @ $15.87

Saleem

Stocks100 said...

Hi Stocktrader,

Here is my portfolio weighting as of few seconds ago:

IQ 17.20%

HUYA 15.70%

BIDU 15.70%

NVDA 15.00%

AMD 14.00%

BZUN 13.70%

SQ 8.70%

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with AMD!

Sold SWKS @ 93.32
Bought NXPI @ 98.50

I think the approval chance of a deal is actually relatively high compared to Wall Street expectations (although who am I of course), and I think downside is limited, especially with the $2B breakup fee which will likely go towards a stock buyback program if the deal falls apart.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Today QCOM offer is expiring...have they extended again yet?

Good luck with NXPI....

Saleem

stocktrader_1996 said...

Hi Saleem,

I'm not really sure why, but most people seem to think today is the last deadline with no more extensions really possible, so we should have resolution either way.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Based on what I have read, they QCOM has blanket extension until 2019...they just have to keep using extension to cover it!

Saleem