Indices closed down.
S&P 500 @ 3225.89, low 3214.65, high 3259.81
RSI @ 36.70
CMF @ 0.103
Internals were :
Down volume led by 10.87 to 1 in NYSE & 4.00 to 1 in Nasdaq
Declining stocks led by 6.74 to 1 in NYSE & 6.04 to 1 in Nasdaq
Net new 52 wk lows were leading by 112 in NYSE & 110 in Nasdaq
VIX UP 46.55% @ 25.03
Oil @ $51.43
Gold @ $1676.60
Canadian $ @ .6713
In my portfolio :
Sold QCOM @ $83.06
Bought IQ @ $23.78
Portfolio HUYA IQ LSCC LK MRVL
Stocks which closed green included IQ
NEM AEM FSLR....
AH news...PANW Down 13.50%, SHAK 12.94%
CLVS Down 9.07%.....
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was in sharp slump due to spreading of Corona Virus in South Korea , Iran & Italy. Market was vulnerable to headlines like that after 2 day of pullback which caused panic selling today. Technicians were having field day predicting as much as 12% correction. Prediction is a very risky business many technicians are out of mind from Prechter to Granville on faulty models. We may have oversold already.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteMake some adjustments:
Sold AVGO @ 285.90
Bought LITE @ 78.30
LITE is the stronger stock with more future growth available.
Sold PS @ 18.35
Added to CSOD @ 39.70
Added to IBP @ 72.52
I think CSOD's acquisition creates a powerhouse in online learning and appears cheap based on the revenue and cost synergies. I added a little to IBP on this dip.
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with LITE plus more of CSOD & IBP....
Saleem
Hi Stocktrader,
ReplyDeleteSold MRVL @ $22.92
Bought SQ @ $77.43..SQ reports before open Wednesday.....
Saleem
Hi Saleem,
ReplyDeleteGood luck with the swap. I have had terrible luck with earnings - I hope yours is better!!
Stocktrader