Indices closed down.
S&P 500 @ 2641.25, low 2603.54, high 2706.85
RSI @ 28.98
CMF @ -0.171
Internals were :
Down volume led by 1.48 to 1 in NYSE & 2.03 to 1 in Nasdaq
Declining stocks led by 1.44 to 1 in NYSE & 1.45 to 1 in Nasdaq
Net new 52 wk lows were leading by 617 in NYSE & 322 in Nasdaq
VIX UP 2.24% @ 24.70
Oil @ $67.04
Gold @ $1227.60
AH news.....CHGG UP 6.57%, AKAM UP 10.23%
CGNX Down 10.35%, TXRH Down 11.32%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE showed its weakness by opening sharply higher and then gave up all gains and went into slump, DOW was UP 352 and went Down 566 points a total slump of 918 points today. How we will know that this TAPE has found its support when bad earnings is ignored and we close higher, who knows we may see it tomorrow AH when FB reports....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Cut PS in half @ 22.65
Even though earnings and guidance were great, the valuation is much higher than I first realized due to some outstanding shares that don't get counted correctly on some research sites.
Bought FSLR @ 37.79
After another positive analyst note today talking about how cheap FSLR is trading, I decided to give it a try :)
First Solar shares are 'significantly undervlaued,' says JPMorgan
JPMorgan analyst Paul Coster believes First Solar is "significantly undervalued" based on a sum-of-the-parts analysis which factors in the company's current projects and net cash position. Net cash currently represents nearly 60% of market value and the core module business is trading at about 3.9 times 2021 EBIT net of capex and pending project sales, Coster tells investors in a research note. He keeps an Overweight rating on First Solar with a $75 price target. He reminds investors that the company will provide fiscal 2019 guidance on an investor update call to be held in late-Q4, which he believes could serve as a positive catalyst.
Stocktrader
Hi Stocktrader,
Good luck with FSLR....
Saleem
Hi Stocktrader,
Sold ESTC @ $66.58
Saleem
Hi Saleem,
Nice job on ESTC's gain!
I'm actually a bit surprised because many of the analyst initiations weren't all that exciting today but price action was great.
Stocktrader
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