Indices closed down.
S&P 500 @ 2978.76, low 2977.39, high 3097.07
RSI @ 20.15
CMF @ -0.069
Internals were :
Down volume led by 13.01 to 1 in NYSE & 3.88 to 1 in Nasdaq
Declining stocks led by 7.51 to 1 in NYSE & 5.87 to 1 in Nasdaq
Net new 52 wk lows were leading by 796 in NYSE & 505 in Nasdaq
VIX UP 42.09% @ 39.16
Oil @ $47.09
Gold @ $1642.50
Canadian $ @ .6640
Portfolio HUYA IQ LSCC LK SQ
Stocks which closed green included IQ SQ
WYNN......
AH news....VMW Down 6.37%, RUN Down 8.49%
BYND Down 10.21%......
IQ reported a stellar Q 4 result with a huge
13 cents beat in EPS and a $100 million
beat in revenue. Guidance is also higher than
consensus. Expect many upbeat comment
from analysts. Stocks was down 1.7% in AH.
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE went south in a hurry on developing news of virus in USA, most were led to believe that USA has got it together and are managing it well, reality is far from it, thus a steepest sell off in history. BUT that is done, one must keep their focus on strategy of buying the-best company when they are on sale instead of worrying as to where & when is the bottom.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Nice job with SQ and IQ - my post-earnings reactions have been mostly terrible although IBP acted ok today.
Let's hope we get oversold enough to create a bottom because I don't expect the news flow to get much better for a while...
Stocktrader
Hi Stocktrader,
Thanks for your appreciative note....
Except for XLNX earnings report have been very good LSCC, SQ & IQ in a row gives me confidence to stay engaged with high comfort stocks.
Good luck with your future reports.
Saleem
Hi Saleem,
Sold AVLR @ 81.83
I think there's limited upside here as insiders sell and growth moderates some.
Sold IBP @ 65.05
Despite good earnings, the valuation remains high, and the outlook for new home buying may be subdued as we approach the huge election.
Bought FSLY @ 19.62
This stock, more than almost any other in this week, has found tremendous buying interest at its daily bottom. All the candles have long tails. I think there's something good happening here.
Bought BHVN @ 42.54
After spectacular approval for their migraine drug today, I think this warrants a buy, especially with high short interest.
Bought PSNL @ 8.42
It is too cheap for me to ignore here. I think it can be a takeover candidate at these levels besides just having better business prospects.
Stocktrader
Hi stocktrader,
Good moves....
Good luck with PSNL BHVN FSLY....nice rationale for each buy & sell....
Saleem
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