Indices closed UP.
S&P 500 @ 2743.78, high 2744.00, low 2684.38
RSI @ 52.60
CMF @ 0.114
Internals were :
UP volume led by 8.62 to 1 in NYSE & 6.32 to 1 in Nasdaq
Advancing stocks led by 3.98 to 1 in NYSE & 3.58 to 1 in Nasdaq
Net new 52 wk lows were leading by 234 in NYSE & 117 in Nasdaq
VIX Down 2.79% @ 18.49
Oil @ $50.29
Gold @ $1223.60
Stocks which were UP 3% or more included NVDA SQ
MU SHOP BIDU LULU AAPL ESTC SPLK MTCH
VICR CGC PRNB AMAT CRUS CIEN EAF JKS
GOOG LRCX NFLX PANW QRVO WB NTNX
ALDR TK RIG FEYE YELP MA AMZN MSFT
TSM NKE CMG V......
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE closed @ high of the day and UP 3 days in a row, a major victory for technicals and bulls. Catalyst for today's huge jump was Fed Chief Powell statement @ noon EST where a major shift in Fed policy was evident with the statement that interest rates are near neutral All former leaders participated in today's TAPE and internals were very strong.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hi Saleem,
Yesterday was all green day. Today the prices might cool off due to unknown outcome from G20 on Friday.
BZUN, MTCH, NIU, ACOR in my radar. Any comments/inputs on these will be appreciated.
Thanks
Paramjeet
Hi Paramjeet,
NIU had really good earnings and I listened to their good conference call, but everyone ignored it. They did get a $12 initiation last night.
MTCH got an outperform initiation yesterday too. I think it is cheap for a service that continues to grow, albeit maybe at a slower rate than prior and with new customer acquisition costs rising now. However, I don't see anyone displacing them, and I think that's important.
I don't know much about ACOR, but it sure looks like a chart ready to break out.
BZUN looks the most stuck to me--it can't find consistently positive flows even on these recent up days. Obviously if we get some kind of Chinese resolution that could all change though.
Stocktrader
Hi Paramjeet,
Nice to see your note.
Stocktrader has given you very good analysis for your focus list.
Good luck!
Saleem
Hi Saleem,
Sold PLAN @ 25.91 to take profits
It was a great earnings and guidance, but the stock has run a lot. I'm taking a risk selling here because of the "recent IPO" status (making it susceptible to huge up moves), but I have to stick to my valuation thoughts.
Stocktrader
Hi Stocktrader,
Booking profit works in all market even jittery ones like we have now.
Good luck with your new pick $$$
Saleem
Thank you StockTrader. Appreciate the writeups on the stocks. These are valuable insights.
Although, I do not post much, but believe me, I visit the blog atleast once a day. :)
Bought AMRN, AMD and TRIL today. Funds are locked in (in settlement per ameritrade), once available will enter AVLR and possible re-enter HEAR.
Thanks
Paramjeet
Hi Parajmeet,
I'd glad I could help today :)
AMRN's price action after the secondary was really disappointing to me. It was only 3% dilutive, removed a negative overhang, and yet the stock dropped 13%. What I thought could be a year end big run has me now on hold until it gets back above the 50 DMA.
AMD's chart looks pretty good despite the huge fall from the top, and better than many other tech stocks. I do worry about the competitive landscape somewhat in GPUs though.
TRIL is still very undervalued, but the timing of any stock rise is really hard to predict when the catalysts are so spread apart. I know many are hoping for good things at ASH, as am I, but I'm also ready for disappointment again.
I think HEAR still has more legs, and I wouldn't be surprised at a positive pre-announcement before the end of the year, which could rocket this stock based on the short interest, but then manager chase for returns also.
AVLR is going to be asleep unless it wakes up. I'm already almost regretting getting back in.
Stocktrader
Hi Saleem,
Bought speculative LQDA @ 23.24
The chart setup looks good and positive commentary continues.
Added small to VICR @ 34.83
I think the chart is setting up for a big breakout potentially, and I think these guys are in the first innings of their growth ramp with a takeover option also. I will note there is not a single analyst that covers this company yet which could provide an upside boost at some point as institutional flows come into the name.
Stocktrader
Hi Saleem,
Added a small amount to LQDA @ 23.16
Added a small amount to HEAR @ 17.81
Was just trying to use up the rest of my cash.
Stocktrader
Hi Paramjeet,
Good luck with AMRN AMD TRIL....
Saleem
Hi Stocktrader,
Good luck with LQDA++, plus more of VICR HEAR....
Saleem
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