Indices closed UP.
S&P 500 @ 2740.37, high 2741.67, low 2708.85
RSI @ 45.61
CMF @ -0.060
Internals were :
UP volume led by 2.56 to 1 in NYSE & 5.16 to 1 in Nasdaq
Advancing stocks led by 3.20 to 1 in NYSE & 3.46 to 1 in Nasdaq
Net new 52 wk lows were leading by 111 in NYSE & 38 in Nasdaq
VIX Down 8.90% @ 19.34
Oil @ $63.69
Gold @ $1238.60
Stocks which were UP 3% or more included KORS SQ
AEM GG NVDA SPLK AMD TLRY AMAT AMZN
CRUS BABA CTRP JKS LRCX MRVL MU WB
YY NFLX OLED PANW QRVO SHOP NTNX
ROKU BZUN ALDR TK FEYE LNG WYNN
LVS SINA OSTK ABX SWKS KBH AAL...
AAPL reported a beat in EPS & Sales for Q 4
Guidance for Q 1 was short in Sales by $2 billion
$91 billion vs $93 billion consensus.
AAPL explained shortfall on many reasons first foreign exchange impact, All emerging market currencies have been very weak for a year and may recover against US$ going forward, emerging market sales being lower due to lower currency against US$, third, too many new products, supply of whom may not be enough for demand, last but not least tax rate in Q 1 to be 16.5% vs 15.9%,
all reasons are legitimate.......
AH news....AAPL Down 6.48%, OLED Down 27.11%
SBUX UP 9.18%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was going in the right direction until AAPL reported, strength of this TAPE will be tested tomorrow against AAPL reaction and impact of strong jobs report which is expected @ 190K. I will not be surprised IF we close green on Friday.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hi Stocktrader,
Bought MOMO in pre market @ $37.10.
Saleem
Hi Saleem,
Good luck with MOMO--I still think it's the best of the Chinese social/internet group.
I'm surprised BABA is up with their guidance and commentary, and also the refute of the trade story overnight. I'll be interested to see how the Chinese stocks close today.
Stocktrader
Hi Saleem,
The jobs number and wage inflation were as strong as I feared. Counter to that though is the continuing weakening of oil, which lowers inflationary effects and may help the Fed remain more dovish. It makes me more interested in my tech stocks again, but probably not enough to get me involved today. I think to some degree we are seeing month-beginning flows still--next week will be more telling.
Stocktrader
Hi Stocktrader,
YES...jobs data is hot ......as we both expected.....but market behaves as it wants to.....BABA UP on lousy guidance and low sales.....logic does not work sometimes....
Sold AAPL @ $210.00
Saleem
Hi Stocktrader,
Added 150% MOMO @ $36.70...
Bought GG @ $9.65
Saleem
Hi Saleem,
Good luck with the new moves!
Stocktrader
HI Saleem & Stocktrader,
What is real? Trump ‘s tweet yesterday about China trade talks are progressing in positive way & today his (or media) wording is that China is not ready? What to adopt from two contradictory info? If US & China trade talks or a decision on pausing rate hike talks should give boost to equities. If either one of them is true or goes towards a resolution then we may still see some positivity in markets. What do you think?
Explorer
Hi Explorer,
As we've known for a while now, China is willing to play the long game...so long as to have Trump be out of office before they truly come to the table. I don't expect this situation to change. They would rather internally stimulate their economy than admit to wrongdoing or make a worse deal than they have now.
I think Trump's tweet was an attempt to move markets and sentiment slightly ahead of the elections on Tuesday. So, I wouldn't read too much into any tweets or talk--it's all about the actions which are seriously lacking still.
Stocktrader
Hi guys,
I think SEDG might be setting up for something positive here. I'm seeing some decent buy interest despite the down day for it and the markets.
I've really been trying to look for an alternative energy play given ever-increasingly money managers are avoiding the fossil fuel stocks from a philosophy/moral standpoint, so I continue to poke my head around these kinds of stocks.
Stocktrader
Hi Explorer,
Trump negotiating style is known to whole world now, bully bully bully then negotiate a deal with win for both side.
Confusion and calling names are negotiating strategy, I do feel that China and US have to come together as both impact entire world trade and economy, I think we are @ the tail end of game playing before final 48 hours before deal, my bet major progress by end of coming week which includes Sunday, which becomes working day prior to deal.
Saleem
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