Indices closed UP.
S&P 500 @ 2930.75, high 2934.80, low 2919.73
RSI @ 68.16
CMF @ 0.170
Internals were :
UP volume led by 4.09 to 1 in NYSE & 3.35 to 1 in Nasdaq
Advancing stocks led by 2.15 to 1 in NYSE & 2.68 to 1 in Nasdaq
Net new 52 wk highs were leading by 50 in NYSE & 39 in Nasdaq
VIX UP .43% @ 11.80
Oil @ $70.32
Gold @ $1211.30
Stocks which were UP 2% or more included BZUN CRUS SQ
PRNB BABA CIEN CSIQ EAF MRVL MU OLED QRVO
YY ROKU ALDR CHK RIG YELP FNSR MGA ORCL
SINA SWKS.....
AH news...MU Down 6.97%, MGA Down 5.01%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE ignored all the rumblings about trade wars and went about its business of marching up to new all time highs in Dow & S&P 500, Nasdaq is next in line to do so. Most sectors participated in this rally except few Chinese small caps. TLRY still exploding in volume but not in prices, we may see it below $100.There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem & Stocktrader,
Sold MU puts for no-profit no loss. IV killed the price. Nasdaq turned red. Tariffs on China are still on for Monday? If so that would be a red day too?
Explorer
Explorer
Hi Explorer,
Being flat is not bad on few trades....
YES...many cross currents in the market...close may be weak....
Saleem
Hi Explorer,
I think the tariffs for Monday are fully factored in already. After the breakout to fresh highs, I think the market continues to grind higher from here. The question is whether the high growth stocks participate or not as value stocks have been seeing all the gains this week.
Stocktrader
Thank you Saleem & Stocktrader for your thoughts & inputs. I got new IPO YMAB @25
Stocktrader is good in finding new IPOs. Any thoughts on this?
Explorer
Hi Explorer,
I skipped both the IPOs today even though I thought FTCH might perform better. YMAB didn't seem to me to be in a hot enough area to warrant big first-day accumulation.
Check out LULU calls for maybe a breakout. IV is pretty low due to the recent consolidation so could be a good risk/reward.
Stocktrader
Hi Explorer,
Good luck with YMAB.
Saleem
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