Indices mixed despite economic turmoil in Turkey which is having a direct impact on EU.
S&P 500 @ 2831.92, low 2819.88, high 2843.40
Internals are negative
Oil Down 81 cents
Gold Down $18.60
Canadian $ UP 12 tick @ .6869
VIX UP 7.22% @ 14.11
In my portfolio :
Sold SQ @ $73.00
Sold BIDU @ $217.50
Added 60% BZUN @ $52.80
Bought SQ @ $72.80
Portfolio AMD BZUN HUYA IQ NVDA NXPI SQ
Most stocks are down.
@ 2.35 following are UP.
AMD SQ CRUS OLED EAF TSLA TWTR AMZN
SWKS .....
HUYA reports tonight, here are expectations :
Sales $145.71 million, EPS 6 cents
Next Q guidance Sales $178.56 million, EPS 7 cents
Expecting beat !
Before open Tuesday BZUN reporting, here are expectations :
Sales $156.40 million, EPS 13 cents
Next Q guidance Sales $160.13 million, EPS 15 cents
Expecting beat !
BLOG does NOT give buy or sell.
PS...there is no closing BLOG tonight due to being busy in evening .....
Saleem
8 comments:
Hi Saleem,
Bought LITE @ 58.74
I like how this company is positioned for the future of 3D sensing and picked up OCLR at an opportunistic time. It has held up well since the post-earnings selloff, so I thought I'd take a chance.
Stocktrader
Hi Saleem,
Bought OPTN @ 15.95
This selloff seems overdone for a company with a bright, albeit far off future. I didn't want to really catch a falling knife, but I was comfortable with the price here.
Stocktrader
Hi Saleem,
Bought APPN @ 35.59
After selling last week, I wanted to re-enter on this dip given I think this company is in the very early stages of a growth ramp.
Stocktrader
Hi Stocktrader,
Good luck with LITE OPTN & APPN
Saleem
Hi Saleem,
Sold almost half EAF @ 19.24
I am too worry about the status of global economic growth to participate that heavily, regardless of valuation. Copper is breaking down to new lows again today.
Stocktrader
Hi Stocktrader,
Your research guides you in your decision making.
Good luck with your redeployment of funds.
Saleem
Hi Saleem,
I am growing increasingly nervous about the market, and I'm going on a trip for 11 days starting early tomorrow with some days completely without internet coverage, so I've made some adjustments to the portfolio to only stick with conviction names and put on a hedge position:
Sold GSKY @ 15.34
I really made a mistake not selling this the day of earnings when it was actually up for a bit. It has since fallen 30%, and I'm not sure there's much hope for a sustained rebound as investors question their ultimate profitability and resiliency during a downturn.
Sold TDOC @ 71.48 to take profits
Sold LITE @ 59.35 to take profits and due to its economic sensitivity somewhat
Sold EAF @ 19.31 due to an overhang from the secondary and major economic sensitivity
Sold HUYA @ 27.55
I should have read my notes better from the last conference call and I would have been able to avoid this mess. Their ultimate profitability is in question as expenses rise just as fast as revenues. Although I think there is a huge future for this space, I have to think about how to position the best and at what valuation.
Sold OPTN @ 13.88
After researching this more, the falling knife try was a mistake. I think this stock has limited upside until we see better adoption of their current product, but even more so, new trials with their expanded product. I think there's time to get a better entry here.
Bought very large TZA (x3 normal position size) @ 8.55 as a hedge
Trimmed OPRX @ 12.24 to take profits and reduce risk. I may sell more if price permits.
Current holdings: TZA(x3+) CSOD(x2) VCEL APPN SPLK PANW MU TRIL TENB MOMO OPRX(.5x), cash 26.2%
Stocktrader
Hi Stocktrader,
Comfort level is very important in any market,good luck with your hedged strategy.
Enjoy your vacation.
I am on vacation to attend my nephew wedding in Richmond VA
I am away from 29th August to 5th September inclusive......
Hopefully you will do your usual wrap of market in " comment section " until I am away...
Thanks for your help when you are back with your daily wrap up of market.
Saleem
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