Indices closed mixed.
S&P 500 2650.54, low 2637.27, high 2670.19
RSI @ 42.13
CMF @ 0.061
Internals were :
Down volume led by 1.43 to 1 in NYSE & 2.14 to 1 in Nasdaq
Declining stocks led by 1.70 to 1 in NYSE & 2.88 to 1 in Nasdaq
Net new 52 wk lows were leading by 417 in NYSE & 338 in Nasdaq
VIX Down 3.77% @ 20.65
Oil @ $52.58
Gold @ $1247.40
AH news...SHOP Down 3.64%, COST Down 2.63%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE continued its jump @ open and lose all its gains mid day and improve @ close. Dow was UP 200+ to lose it all and then dip into negative and closed slightly higher. Futures are slumping again on a new criminal investigation of President Trump's election spending. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
This market is so very frustrating. I try to dance among the stocks showing some relative strength, but it's usually not enough incremental positivity to offset any of my stocks taking a big hit. Risk/reward still seems skewed to the downside, yet I feel the need to keep picking. I'm not sure when this cloud will lift. I think we are close, but it seems there's still more sellers who need to get out.
Stocktrader
Hi Saleem,
Sold SWN @ 4.04
This was a trade gone bad, and I finally had to let it go in favor of other stocks doing better.
Added to HUBS @ 133.55
This wasn't a particularly good price today, but I wanted to fill out my position having only gotten a portion of what I wanted yesterday.
Stocktrader
Hi Saleem,
Sold HEAR @ 15.92
The sales and stock momentum appear to be fading here. With this chart breakdown, I can't justify sticking around, especially given a miss in sales could result in a 30% stock decline.
Bought PYPL @ 87.03
The longer term story is just starting here as payment get digital. I like the relative strength and chart.
Stocktrader
Hi Saleem,
Sold FDX @ 186.99
I bought this as a trade and it didn't really work. I don't have any good insight into earnings next week, and the chart tells us this will be a "sell the rallies" stock for quite a while as so many people are stuck.
Stocktrader
Hi Stocktrader,
Saw your note from yesterday, yes this market is extremely volatile and uncertain, this may not change until there is a definitive signed agreement between US and China on trade.
Good luck with add on HUBS and PYPL.
Saleem
Hi Saleem,
Bought a speculative position in NIU @ 7.12
Yes, I keep coming back here, but I really think there's something to this company, and it really hasn't performed too poorly considering the aversion to Chinese stocks.
Stocktrader
Hi Saleem,
Bought SAIL @ 24.32
Although the chart isn't great here, the valuation is getting too attractive to pass up, especially considering comparison to its peers. Goldman recently upgraded this stock in November during the big decline, so there's some support from institutional names also.
Stocktrader
Hi Stocktrader,
Good luck with NIU & SAIL....
Saleem
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