Indices closed mixed.
S&P 500 @ 2857.70, low 2853.09, high 2862.44
RSI @ 66.49
CMF @ 0.162
Internals were :
Down volume led by 1.37 to 1 in NYSE & 1.12 to 1 in Nasdaq
Declining stocks led by 1.22 to 1 in NYSE & .97 to 1 in Nasdaq
Net new 52 wk highs were leading by 30 in NYSE & 5 in Nasdaq
VIX Down .73% @ 10.85
Oil @ $66.94
Gold @ $1221.00
AH news....NTES UP 2.38%, ROKU UP 8.76%
YELP UP 15.7%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE struggled as only Nasdaq barely made into green, internals were weak. TAPE is looking tired and may pull back to digest recent gains. VIX is deeply oversold and may bounce back thus negative for equities.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Sold VRNS @ 68.15 to take profits
A nice bounce off the lows to fill the gap, I thought it a good time to take profits here.
Bought OPRX @ 12.00
After a really nice beat and raise quarter, and in a growing niche industry of healthcare connectivity, I thought I'd give this one a try.
Stocktrader
Hi Saleem,
Sold BEAT @ 57.80 to take profits
After a great run, I think the stock has gotten ahead of itself.
Stocktrader
Hi Saleem,
Sold VICR @ 62.67 to take profits
After a massive run, I thought I'd raise cash and look for new ideas.
Stocktrader
Hi Saleem,
Sold DAVA @ 26.16
After researching more, I don't have full confidence necessary to make it a part of my portfolio. It was a decent little trade.
Doubled position in EAF @ 19.94
I think this stock is an amazing buy here at 6x next year's earnings and being a pure-play on the niche and booming industry of graphite electrodes.
Doubled position in CSOD @ 52.99
After revisiting their conference call last night, I think these guys really are on the growth path forward now with strength across all products and geographies. Their focus on smart profitability should make them an attractive investment for portfolio managers and/or a takeover for a larger company looking to expand their presence. It is too cheap compared to peers in my opinion.
Bought TDOC @ 69.75
Certainly more on the speculative side, I think their CVS announcement yesterday is another example of how important they will be to the future. With massive short interest in the name, I want to see how far it can go.
Stocktrader
Hi Stocktrader,
Good moves in locking profits.....
Good luck with EAF, CSOD & TDOC.....
Saleem
Hi Saleem,
Sold SAIL @ 29.49 to take profits
The quarter was nice, but they alluded on the call that the number of big deals signed this quarter might not necessarily hit in subsequent quarters. I like the stock, but will wait for a pullback.
Stocktrader
Hi Saleem,
Sold TPIC @ 28.81
Even though the backlog for the company increased dramatically, and the conference call was really upbeat, I think the challenges of this year and full year guidance calls into some question the ultimate profitability they can make on the backlog. I don't think there's much upside for now so I'd rather allocate cash elsewhere.
Stocktrader
Hi Saleem,
Sold TRUP @ 37.93
This was a trade that didn't really work out. Even though revenue continues to increase, it's difficult to see a sustained path of profitability.
Stocktrader
Hi Saleem,
Current portfolio: CSOD(x2) EAF(x2) APPN VCEL PANW SPLK TDOC MU OPRX HUYA TENB TRIL GSKY MOMO, cash 17.1%
I figured I'd provide the current status because of all the moves today.
Stocktrader
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