Indices closed mixed.
S&P 500 @ 2888.92, high 2894.65, low 2879.20
RSI @ 59.30
CMF @ 0.133
Internals were :
UP volume led by 1.84 to 1 in NYSE & 1.04 to 1 in Nasdaq
Advancing stocks led by 1.34 to 1 in NYSE & .89 to 1 in Nasdaq
Net new 52 wk highs were leading by 27 in NYSE & 8 in Nasdaq
VIX Down .61% @ 13.14
Oil @ $70.37
Gold @ $1210.90
In my portfolio :
Sold AMD in AH @ $32.64
Added 70% CRUS seconds before close @ $41.06
AH news....PVTL Down 24.6%, TLRD UP 8.6%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed mixed after mid day report that China and US will start discussion soon to resolve escalating trade dispute, there a surge of 150 points in Dow but it all faded by close. Semi sector is in turmoil for the most part and most stocks making 52 wk lows.
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hi Saleem,
Great BUY and SELL on AMD. Profit is good.
Also, nice to see CHINA stocks showing some life today.
Bought CBLK @23.21, ZYNE @6.99, TRIL @6.15 and CDMO @7.11. Will see few days before getting into old favorites HUYA, IQ, BILI.
Thanks
Param
Hi Paramount,
Thanks for your appreciative feedback on AMD...yes 3 points profit works in 6 hours.
Good luck with your biotechnology entry!
Saleem
Sorry meant write Param. ..
Saleem
Hi Stocktrader,
Added 75% FB @ $162.55 in pre market .
Saleem
Hi Saleem,
Very nice job on AMD again!
As for Chinese stocks, MOMO and BILI were the only ones I saw that were over the 50 and 200 DMAs as of last night's close (probably missed some but those were the ones on my watch lists). BILI worries me because of the games component that is becoming so highly regulated now in China, although the recent acquisition diversifies them some.
Good luck with more FB, here's a note from this morning probably causing the slight weakness:
Cleveland Research lowers Facebook Q3 sales growth estimate
Cleveland Research analyst Chandler Converse said feedback on near-term Facebook ad spending has turned more cautious as a result of changes to limit targeting and tracking in response to increased scrutiny and regulation. The targeting and tracking changes are viewed as driving lower ROI for some advertisers, leading to reduced budget allocation, while Facebook also appears to be seeing increased competitive pressure from Google (GOOGL) and Amazon (AMZN), Converse tells investors. The analyst lowered his Q3 sales growth forecast to about 33% from a prior view of 35%, though he maintains a Buy rating on Facebook shares.
Stocktrader
Hi Param,
Good luck with the new portfolio!
My current trading positions are MTCH LQDA MOMO APPN TRIL with some MTCH VRTX GNRC calls. Although these are subject to rapid change, MTCH is one of my best ideas currently due to hitting a 52-week high and having 50% short interest (as % of float). I think the market is highly favoring short squeezes currently. ANGI is also one I might enter given similar characteristics, and I might do some IAC calls as both MTCH and ANGI are squeezing (two main properties of IAC) and the implied volatility is much lower for IAC.
I usually don't comment on my fast trading portfolio, but thought it might be helpful today given some of the discussion.
Stocktrader
Hi Saleem,
Sold APTX @ 29.77 avg to take profits
Stocktrader
Hi Saleem,
Bought AQST @ 19.06
A few of the recent IPO biotechs I've tried have worked well, so I'm trying another one here.
Stocktrader
Hi Stocktrader,
Thanks for your detailed analysis of BILI & MOMO.....great help for everyone as we lose sight of good technical charts.
Good luck with AQST.....
Saleem
Hi Saleem,
Added a little to LQDA @ 17.85
Stocktrader
Hi Stocktrader,
Good luck with more LQDA....
Saleem
Hi Saleem,
CRUS analyst note:
Cirrus Logic's dongle removed from older iPhone models, says Barclays
Barclays analyst Blayne Curtis says his review of Apple's website reveals that Cirrus Logic's (CRUS) dongle is now removed from the entire suite of iPhones. Apple's (AAPL) website previously stated certain iPhones contained a "Lightning to 3.5mm Headphone Jack Adapter" in the box, but this has since been removed under each phone, Curtis tells investors in a research note. He views the development as an additional negative for Cirrus Logic. While the company already admitted that the dongle was out in current iPhone generations, the removal from older products could bring another $35M of downside in 2018 and $25M in 2019. The analyst keeps an Underweight rating on Cirrus Logic shares. The stock in late morning trading is down 2% to $40.08.
Stocktrader
Hi Stocktrader,
Thanks for analysts note on CRUS.....
Older phone part is a surprise......
Saleem
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