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
4 comments:
Hi Saleem,
Make 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
Hi Stocktrader,
Good luck with LITE plus more of CSOD & IBP....
Saleem
Hi Stocktrader,
Sold MRVL @ $22.92
Bought SQ @ $77.43..SQ reports before open Wednesday.....
Saleem
Hi Saleem,
Good luck with the swap. I have had terrible luck with earnings - I hope yours is better!!
Stocktrader
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