Indices closed UP.
S&P 500 @ 2770.7, high 2787.33, low 2767.29
RSI @ 69.54
CMF @ o.366
Internals were :
UP volume led by 1.92 to 1 in NYSE & 1.43 to 1 in Nasdaq
Advancing stocks led by 2.13 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 154 in NYSE & 76 in Nasdaq
VIX Down .20% @ 14.88
Oil @ $56.45
Gold @ $1344.80
Stocks which were UP 2% or more included MOMO BZUN
HUYA IQ WB ROKU GG FSLR CSIQ JKS SPWR PRNB
BABA CIEN MRVL YY CHK WYNN OSTK....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE built its positive close on optimism about trade progress. Market is overbought and is a nice place to book gains, this TAPE can reverse very very quickly, close today was not the best. Waiting for prices to come down could be a good strategy @ this stage, it always comes down after being UP for 8 weeks.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Made some moves today:
Sold UXIN @ 4.08
Sold NIU @ 7.63
After some rise in the past week, especially in UXIN, I'm good with taking profits, especially as there's so many good US companies in which to invest right now.
Bought GS @ 198.14
I think the worst is behind them with regards to the Indonesian scandal, and their business traditionally does well in environments like we have now, steadily increasing confidence. Valuation and chart look good here.
Sold HUBS @ 163.30
This was a mini-trade that didn't see nice gains like I'd hoped. I'm not super excited about the company or the valuation at this level.
Trimmed HEAR @ 16.41
Wow, what a volatile stock. I should have trimmed last week on the huge pop, but the fact that we faded again probably tells a more important story. I still think there's positive surprises in store for this company, but the market definitely needs to see before believing.
Bought MHO @ 27.81
After great earnings recently, and with the housing market apparently regaining its footing, I think these guys have room to run.
Finally, I am considering a GM position, but I don't really have room, and the world is very skeptical on the auto market. I really like how the CEO has been proactive in making changes for the future, and that makes these guys extremely well positioned for the next generation autos and driving.
Stocktrader
Hi Stocktrade,
Good luck with GS & MHO
Saleem
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