Indices closed mixed.
S&P 500 @ 2722.11, low 2714.98, high 2754.40
RSI @ 43.71
CMF @ 0.036
Internals were :
Down volume led by 1.10 to 1 in NYSE & .75 to 1 in Nasdaq
Declining stocks led by 1.08 to 1 in NYSE & 1.05 to 1 in Nasdaq
Net new 52 wk lows were leading by 200 in NYSE & 151 in Nasdaq
VIX Down 2.10% @ 20.02
Oil @ $55.69
Gold @ $1201.40
Stocks which were UP 2% or more included SQ
SHOP NVDA LULU MTCH AMD AMAT CRUS
BABA OLED TSLA ROKU BZUN CHK WYNN
FNSR AAL.....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE attempted to rally in pre market but rally fizzled out @ open and struggled whole day. Oil is the big news 12 straight down days is a new record. We may have discounted most of the bad news and may stage an oversold bounce. It is important to watch action in all stocks to pick stronger performers going forward.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Sold HUBS @ 126.92
I needed to raise cash and this was a stock I only bought for a trade, so it gets the sell.
Bought AMRN @ 15.44
This company got resurrected from the dead two months ago after some amazing trial results. Now analysts love the stock with price targets up to $50 and taking about takeovers, so I'm using this pullback into support to try my hand in it.
Added 50% more to TRIL @ 2.47 avg
I can't help but keep going here when they are basically trading at cash levels and have a drug that actually does something. I don't know how long I may have to hold this, but I feel it's proper to add when it's low.
Stocktrader
Hi Saleem,
Added to CSOD @ 50.25
As my "safest" software play with takeover optionality, I thought it wise to add here.
Stocktrader
Hi Stocktrader,
Got 1 foot of snow...busy this morning.
Good luck with AMRN more TRIL & CSOD....
Saleem
Hi Saleem,
I am really looking at SWN for a trade/position. Natural gas prices have surprised everyone here, so I doubt investors are correctly allocated, even if prices come back somewhat.
I just bought some weekly 6 calls in my trading account for $0.05, but I'm really trying to think about a retirement portfolio position--I just would have to sell something first.
Stocktrader
Hi Stocktrader,
Good luck with your thesis and SWN potential buy.....
Saleem
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