Thursday, September 27, 2018

Indices closed UP .21% to .65%....NICE !!!!

Indices closed UP.

 S&P 500 @ 2914.00, high 2927.22, low 2909.27

 RSI @ 59.00

 CMF @ -0.049

 Internals were :

 UP volume led by 1.09 to 1 in NYSE & 1.26 to 1 in Nasdaq

 Advancing stocks led by 1.22 to 1 in NYSE & 1.01 to 1 in Nasdaq

 Net new 52 wk lows were leading by 69 in NYSE & 4 in Nasdaq

 VIX Down 3.72% @ 12.41

 Oil @ $72.12

 Gold @ $1187.40

 Stocks which were UP 1% or more included AMD FB
SQ MTCH TLRY KORS PRNB IQ AAPL AMZN
BILI EAF GOOG LRCX LULU MRVL MU
SHOP TWTR ROKU CHK RIG FNSR SU
OSTK TSM NKE AAL CNX.....

 AH news....TSLA Down 11.91%, PRGS Down 13.63%

 AH Futures UP

 AH Asian Markets Mixed

 AH Oil UP

 AH Gold Down

 About market, TAPE celebrated strong US GDP number and ignored Fed change in language. FANG were back in vogue along with strong stocks. Pot stocks were mostly lower except TLRY which bucked the trend. Expecting a positive close on Friday. There is only a closing BLOG on Friday's around 7 PM.

 BLOG does NOT give buy or sell.

 Saleem  
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17 comments:

  1. stocktrader_1996September 27, 2018 at 7:14 PM

    Hi Saleem,

    The relative and absolute weakness in the small caps (and IPOs) was really the main feature of the trading day for me. I think things have seriously changed where the continued tightening posture of the Fed, including how they expect to raise rates above the "neutral rate", is starting to weigh on the more speculative stocks. I plan to put my TZA hedge on again tomorrow, and may pare back long exposure even further.

    Stocktrader

    ReplyDelete
  2. explorerSeptember 27, 2018 at 8:06 PM

    Hi Saleem & Stocktrader,

    I was tied up with meetings today. Sold PRNB. Did not enter into new IPOs today as the price action was horrible. There is still some room for indices to go north before they can turn.

    Stocktrader, good luck with your hedge plan

    Explorer

    ReplyDelete
  3. explorerSeptember 27, 2018 at 8:12 PM

    Hi Stocktrader,

    Good move to book profits. I was looking to enter LQDA 2 days ago but limit order was never filled & it moved so high & RSI peaked. Will see n watch.

    Anything in your sighs?

    Explorer

    ReplyDelete
  4. stocktrader_1996September 28, 2018 at 6:17 AM

    Hi Explorer,

    For trading buys today I'm looking at company-specific growth stories that closed strongly yesterday like MTCH AMD BEAT LULU CHGG.

    I'm watching the IPOs today of GRTS (indicated good) and CTK (indicated poor), and also still the ones of yesterday to see if anything wants to move higher.

    Mid-morning I'll probably try some shorts anticipating a weak close based on normal Friday patterns, my new overall cautious thesis, and some month-end flows out of equities due to rebalance.

    Stocktrader

    ReplyDelete
  5. stocktrader_1996September 28, 2018 at 6:55 AM

    Hi Saleem,

    Bought a huge chunk of TZA @ 8.51

    Stocktrader

    ReplyDelete
  6. stocktrader_1996September 28, 2018 at 7:43 AM

    Hi Saleem,

    Sold MDSO @ 73.18

    This was a trade that hasn't worked at all, and now the relative weakness and flirting with the 200 DMA despite a strong market is a sign I need to exit. This frees up cash for another idea.

    Stocktrader

    ReplyDelete
  7. explorerSeptember 28, 2018 at 7:56 AM

    Hi Stocktrader,

    Good luck to with TZA & proceedings from MDSO

    Explorer

    ReplyDelete
  8. stocktrader_1996September 28, 2018 at 8:53 AM

    Hi Saleem,

    Trimmed CSOD @ 57.46 to normal position size

    Increased competition and the weaker euro could weigh on results more than a large overweight deserves, especially after a nice post-earnings run.

    Stocktrader

    ReplyDelete
  9. Stocks100September 28, 2018 at 8:58 AM


    Hi Stocktrader & Explorer,

    Sold CRUS @ $38.10.....

    Saleem

    ReplyDelete
  10. stocktrader_1996September 28, 2018 at 9:23 AM

    Hi Saleem,

    Trimmed PRNB @ 28.75
    Trimmed AQST @ 17.20
    Trimmed KRYS @ 17.52

    I wanted to reduce exposure in my speculative biotech area given my thoughts on the Fed and the extremely poor reception to biotech IPOs this week. I think investors are majorly overallocated to this highly speculative niche of the market right now.

    Stocktrader

    ReplyDelete
  11. stocktrader_1996September 28, 2018 at 9:23 AM

    Hi Saleem,

    Good luck with CRUS proceeds.

    Stocktrader

    ReplyDelete
  12. Stocks100September 28, 2018 at 9:27 AM

    Hi Stocktrader & Explorer,

    Added 40% FB @ $166.25

    Saleem

    ReplyDelete
  13. Stocks100September 28, 2018 at 9:28 AM


    Hi Stocktrader,

    Good luck with your trimming strategy with protection.....

    Saleem

    ReplyDelete
  14. stocktrader_1996September 28, 2018 at 9:54 AM

    Hi Saleem,

    Good luck with more FB.

    Stocktrader

    ReplyDelete
  15. stocktrader_1996September 28, 2018 at 10:27 AM

    Hi Saleem,

    Sold PRNB @ 28.94
    Sold AQST @ 17.31 avg

    I really felt the need to get out of these stocks, and I'm still working on KRYS although that is proving more challenging.

    Stocktrader

    ReplyDelete
  16. Stocks100September 28, 2018 at 10:46 AM


    Hi stocktrader,

    Good luck with your startegy and proceeds from sale...

    Saleem

    ReplyDelete