Indices are sharply higher and S&P 500 @ top of its current range. Indices are @ high of the day, its the wall today which is carrying the day.
S&P 500 @ 2747.65, high 2748.19, low 2722.61
Internals are positive by 3 to 1
Oil UP $1.18
Gold UP $2.80
Canadian $ UP 65 tick @ .6761
VIX Down 4.32% @ 15.28
Portfolio SQ TSLA TWTR
Most stocks are UP
@ 2.05 following are red :
TSLA SHOP AMD MTCH NIU AEM GG
JKS PANW FNSR MCD CMG M....
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Even though my instincts have been off this year so far, I had to take some profits, especially in the software sector in which I really feel like valuations are getting stretched on top of the significantly overbought conditions.
Sold SAIL @ 31.50
Sold TENB @ 28.91
I still consider these the best of the valuations, so I would look to enter on fairly small pullbacks of 3-5% probably.
Stocktrader
Hi Saleem,
Sold ANGI @ 17.11
This didn't work out post-earnings and may need more time to get business and price moving in the right direction. It's on my watch list for breakout at some point.
Stocktrader
Hi Saleem,
Bought EAF @ 13.90
The chart looks ripe for a breakout and economic activity appears to be going in the right direction. The stock is very cheap due to pricing concerns, but some analyst consider it overblown. I think investor sentiment drove P/E contraction, so I think there's room to ramp back up some.
Stocktrader
Hi Saleem,
Bought AA @ 28.47
I think commodities are still underowned as the world discounts an economic slowdown, so I think there's room for upside as events play out positively. I'm not sure how long I'll stay here, but I wonder if the upcoming sanctions on Russia play a role in aluminum prices too.
Stocktrader
Hi Stocktrader,
Good luck with EAF & AA
Was tied up with major snow storm which is still going on....
Saleem
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