Tuesday, March 31, 2020

Indices closed down .95% to 1.84%.....

Indices closed down.

S&P 500 @ 2584.59, low 2571.15, high 2641.39

RSI @ 45.39

CMF @ 0.064

Internals were :

Down volume led by 1.45 to 1 in NYSE & 1.75 to 1 in Nasdaq

Declining stocks led by 1.25 to 1 in NYSE & 1.04 to 1 in Nasdaq

Net new 52 wk lows were leading by 43 in NYSE & 29 in Nasdaq

VIX Down 6.20% @ 53.54

Oil @ $20.48

Gold @ $1596.70

Canadian $ @ .5876

Portfolio AMD CIEN LK MU ROKU TWTR

Stocks which closed green included LK
JD SU VICR HUYA RUN MOMO WB
BYND BZUN TLRY BIDU FB TSLA
UBER UAL CRUS BABA CSIQ YY
GOOG NFLX LNG YELP DDOG
SINA OSTK CMG X.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE finished near low of the day as today was month end and quarter end. After close White House released their guess number of potential death from Corona Virus in USA to as high as 240,000, this is a very smart strategy to deal with fear, gossip and undue focus on how bad it is going to be, ironically we may rally on this news as more certainty is being dealt with than avoidance or fighting facts.

BLOG does NOT give buy or sell.

Saleem

Monday, March 30, 2020

Indices closed UP 3.19% to 3.62%...NICE !!!!

Indices closed UP.

S&P 500 @ 2626.65, high 2631.80, low 2545.28

RSI @ 46.73

CMF @ 0.063

Internals were :

UP volume led by 1.23 to 1 in NYSE & 2.15 to 1 in Nasdaq

Advancing stocks led by 1.56 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new 52 wk lows were leading by 71 in NYSE & 25 in Nasdaq

VIX Down 12.91% @ 57.08

Oil @ $20.09

Gold @ $1643.20

Canadian $ @ .5830

Portfolio AMD CIEN LK MU ROKU TWTR

Stocks which were UP 2% or more AMD CIEN MU ROKU
SU NKE VICR LSCC HUYA SQ ASML QCOM XLNX
LULU NVDA MCD MSFT FB UBER LRCX AMZN
AAPL AMAT GOOG NFLX PANW MA MS ULTA
SWKS IBM V CNX....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed near high of the day after some hesitation after open. Chinese PMI expanded to 52.00 beating expectations of contraction @ 45.00, this number should give lot of hope for a US economic rebound. Today's close gave lot of confidence to traders & investors who are being bombarded with negativity of A bottom.

BLOG does NOT give buy or sell.

Saleem

Sunday, March 29, 2020

Where to next in markets?

Indices are showing sign of life until it surprises us like Friday's closing.

There is lot of opinion, debate, analysis & predictions going on, mostly bearish.

Biggest debate IS......

ARE WE @ BOTTOM

IS IT THE-BOTTOM

OR IS IT A BOTTOM

All this talk adds to confusion about the purpose of investors and traders to be in stock market.....purpose is to make money.....

None of the pundits will tell you how they are making money with A THE BOTTOM theories, but they are too smart to reveal their "secret strategy "

I personally look for a "fair chance to make money considering everything "

Sometimes this strategy means less exposure and sometimes more exposure....only way I know how to adjust my risk.....

IF we look for all clear.....

We should not be in stock market......Money market is always all clear .25% to 5% is the range of reward....

We should try to develop a strategy which suits your own personality...

Some are always exposed to UP DOWN & SIDEWAYS market...OK by me....

Some sell on a slight bit of noise...OK by me...

Some buy on little hope..OK by me...

Some buy,,,because they must...OK by me....

Currently lot of noise...

VIX SKY HIGH

GOLD SKY HIGH

STOCKS are struggling

Indices are WOBBLY

What to do then.......

Wait for Tony Dwyer to give all clear......which could be @ 2100 IF it goes below..he will give you a new number on S&P 500...

BUT..you can IGNORE all the punditry and look for opportunistic trading.....buy 5 or 6 stocks which looks good to you...UP DOWN OR SIDEWAYS...there is money to be made....through equity, covered call or options.....take your pick....

I am most optimistic when others are talking 1600 in S&P 500

Generally it works......

Back to Corona Virus 19 which has become 20 and will keep doing what " model allows it to do "

We have China model, we have Italy model, we have South Korea model and we have USA model...it all depends where you look.....

Most countries are realizing that Chinese model controls the fastest.....so there is hope.....

Good luck with your strategy & thought process.

BLOG does NOT give buy or sell.

Saleem


Friday, March 27, 2020

Indices closed down 3.37% to 4.06%.....

Indices closed down after being UP 3 day's in a row. Weekend Corona Virus infection & death numbers will be in focus, that may be the news of biggest spike world over.

S&P 500 @ 2541.47, low 2520.02, high 2615.91

RSI @ 43.58

CMF @ 0.072

Internals were :

Down volume led by 5.35 to 1 in NYSE & 1.79 to 1 in Nasdaq

Declining stocks led by 3.18 to 1 in NYSE & 2.96 to 1 in Nasdaq

Net new 52 wk lows were leading by 73 in NYSE & 36 in Nasdaq

VIX UP 7.44% @ 65.54

Oil @ $21.51

Gold @ $1625.00

Canadian $ @ .5915

Stocks which closed green included TLRY CLVS SNAP DDOG

Here is my portfolio weighting :

AMD      24.44%

ROKU   19.11%

MU       17.11%

TWTR  14.37%

CIEN  13.76%

LK     11.21%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, March 26, 2020

Indices closed UP 5.60% to 6.38%...NICE !!!!

Indices closed UP.

S&P 500 @ 2630.07, high 2637.01, low 2500.72

RSI @ 46.22

CMF @ 0.143

Internals were :

UP volume led by 5.69 to 1 in NYSE & 3.54 to 1 in Nasdaq

Advancing stocks led by 6.03 to 1 in NYSE & 4.63 to 1 in Nasdaq

Net new 52 wk lows were leading by 61 in NYSE & 26 in Nasdaq

VIX Down 4.61% @ 61.00

Oil @ $22.60

Gold @ $1651.20

Canadian $ @ .5951

In my portfolio :

Sold TNA @ $17.80
Sold XLE @ $30.06
Sold GDX @ $27.20
Sold SU @ $13.92
Sold PHM @ $25.30
Bought AMD @ $45.70
Added 50% ROKU @ $92.00

Portfolio AMD CIEN LK MU ROKU TWTR

Stocks which were UP 5% or more included AMD CIEN MU PHM
NKE BA LYFT UBER HUYA SQ MRVL QCOM XLNX BIDU
MSFT LRCX AAPL SPLK FSLR AMAT CRUS CSIQ GOOG
NFLX QRVO SNAP ORCL MS SWKS NKE IBM.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was super strong and made UP move 3 day's in a row, gains were out of the park in most stocks, had to book profit in a hurry and made portfolio much smaller with different mix of stocks, some laggards some old favorites. Swing / daytrading is highly recommended for traders while investors can have long term views.

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 25, 2020

Indices closed mixed......

Indices closed mixed.

S&P 500 @ 2475.56, high 2571.42, low 2407.53

RSI @ 40.36

CMF @ 0.071

Internals were :

UP volume led by 4.13 to 1 in NYSE & 1.54 to 1 in Nasdaq

Advancing stocks led by 4.66 to 1 in NYSE & 2.03 to 1 in Nasdaq

Net new 52 wk lows were leading by 84 in NYSE & 67 in Nasdaq

VIX UP 3.70% @ 63.95

Oil @ $24.49

Gold @ $1633.40

Canadian $ @ .5659

In my portfolio...

Added 200% SU @ $11.90
Bought ROKU @ $93.00

Portfolio CIEN TNA LK MU PHM ROKU XLE SU TWTR GDX

Stocks which were UP 2% or more included LK PHM SU
NKE BA VICR LYFT HUYA SQ RUN BYND CLDR
BZUN TLRY TSLA SHOP EXPE OLED PANW YY
FSLR WYNN LVS MA MS V ULTA KBH M...

MU reported a beat in Sales & EPS in Q 2 plus gave in-line guidance for Q 3

Sales Q 2 actual $4.8 billion vs expected $4.69 billion, a beat by $110 million
Q 2 EPS actual 45 cents vs expected 37 cents, a beat by 8 cents

Guidance Q 3 Sales $4.6 to $5.2 billion vs expected $4.88 billion
Guidance EPS Q 3 40 cents to 70 cents vs expected 52 cents

Conference call was confident & upbeat despite horrendous uncertainty about Corona Virus impact in China and other countries where they manufacture & sell.

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE finally closed with 2 UP days in a row in DOW & S&P 500. Internals were mostly positive except VIX stuck in the mud @ super elevated level. Many stocks were jumping as much as 20% for several days from panic lows. IF politicians get their act together, we may make it 3 in a row which will get many traders, institutions very excited about market.

BLOG does NOT give buy or sell.

Saleem


Tuesday, March 24, 2020

Indices closed UP 8.12% to 11.37%....NICE !!!!

Indices closed UP.

S&P 500 @ 2447.33, high 2449.71, low 2344.44

RSI @ 39.24

CMF @ 0.041

Internals were :

UP volume led by 16.22 to 1 in NYSE & 7.05 to 1 in Nasdaq

Advancing stocks led by 8.55 to 1 in NYSE & 6.21 to 1 in Nasdaq

Net new 52 wk lows were leading by 150 in NYSE & 107 in Nasdaq

VIX UP .13% @ 61.67

Oil @ $24.01

Gold @ $1660.80

Canadian $ .5514

In my portfolio :

Bought SU @ $11.60
Bought PHM @ $21.14
Added 150% CIEN @ $36.60

AH Sold AMD @ $46.29
AH Sold JD @ $41.44
AH Bought MU @ $43.80

Portfolio CIEN TNA LK MU PHM XLE SU TWTR GDX

Stocks which were UP 11% or more included AMD CIEN LK
MU PHM SU JKS LYFT BYND NVDA MCD TSLA UBER
LRCX SHOP AMAT EXPE OLED QRVO SQ NTNX LNG
WYNN GS MA V MS ULTA SWKS NKE KBH ...

After close on Wednesday, MU is reporting, following are expected :

This Q Sales $4.69 Billion, EPS 37 cents

Guidance next Q Sales $4.88 Billion, EPS 53 cents

Expecting a beat in Sales & EPS......

AH Futures Down

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE went into a wild UP move which was the best UP move for DOW since 1933. Internals were mostly positive. VIX did not budge which may put pressure for Wednesday TAPE. Strategic buying & selling is highly recommended, buy the weakness and sell strength must be in focus.

BLOG does NOT give buy or sell.

Saleem

Monday, March 23, 2020

Indices closed down .27% to 3.04%.....

Indices closed down.

S&P 500 @ 2237.40, low 2191.86, high 2300.73

RSI @ 30.16

CMF @ -0.042

Internals were :

Down volume led by 3.03 to 1 in NYSE & .75 to 1 in Nasdaq

Declining stocks led by 3.32 to 1 in NYSE & 1.60 to 1 in Nasdaq

Net new 52 wk lows were leading by 1271 in NYSE & 714 in Nasdaq

VIX Down 6.74% @ 61.59

Oil @ $23.36

Gold @ $1567.60

Canadian $ @ .5455

Portfolio AMD CIEN TNA JD LK XLE TWTR GDX

Stocks which closed 2% or higher included AMD JD TWTR GCX
MU JKS LYFT SQ SPWR RUN ROKU NVDA TWLO UBER
SHOP AMAT NFLX YY SNAP NTNX WYNN OSTK CMG...

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was under pressure pre-market then Fed came with all in, rally stalled after open as US Senate voted down twice stimulus package. Nasdaq behaved the-best whole day and went green many times. Many Nasdaq stocks participated in today's trading. VIX went down which may accelerate on strong Tuesday TAPE.

BLOG does NOT give buy or sell.

Saleem

Sunday, March 22, 2020

S&P 500 @ lowest close.....where to now?

S&P 500 the-most watched index of 500 stocks lowest close @ 2304.92 on Friday...could be a sign of things to come.....

S&P 500 lowest intraday low was only 2 trading days ago @ 2280.52

It is very interesting, not a single major index closed @ new low of this slump, that was reached either 1 to 3 trading days ago.....a sign of hope?

Markets are extremely jittery, Nancy Pelosi is not in agreement with $2 trillion stimulus package as of last report, nothing else, this may plunge indices into new all time lows unless a deal is done before open.....

SO our Friday's close may or may not hold based on Washington approach to size of stimulus package.....

RSI in key indices / index ranges from 26.75 in IWM to 36.05 in SOX......

When SOX is leading averages, then it is a very strong technical indicator.

Oil needs to move UP gradually to signal, that economic slump may not last beyond August.

Corona Virus is spreading very fast all over US Canada Italy Spain UK and worldwide, death toll is accelerating with Italy has most followed by China.

Infection is compounding @ alarming rate worldwide.

Many countries are caught unprepared and are struggling with Mask, Test kits and facilities to treat and isolate.

Some are taking this very lightly in every country and State / Province have to impose separation rules....

Futures in 3 hours will tell the story as to where we are heading in Asia, then Europe then North America....

All I can hope that democrats and republicans can agree on size and scope of stimulus package before it is causes major damage to markets....

Good luck with your own analysis of this TAPE!

BLOG does NOT give buy or sell.

Saleem

Friday, March 20, 2020

Indices closed down 3.79% to 4.55%.....

Indices closed down near low of the day on Quad witching expiry. Vote on $trillion support is on Monday which added to negativity. Oil also collapsed again.

S&P 500 @ 2304.92, low 2295.56, high 2453.01

RSI @ 31.57

CMF @ -0.050

Internals were :

Down volume led by 1.73 to 1 in NYSE & 1.48 to 1 in Nasdaq

Declining stocks led by 1.26 to 1 in NYSE & 1.54 to 1 in Nasdaq

Net new 52 wk lows were leading by 503 in NYSE & 328 in Nasdaq

VIX Down 8.28% @ 66.04

Oil @ $22.53

Gold @ $1484.60

Canadian $ @ .5622

In my portfolio :

Bought TNA @ $14.00

Bought XLE @ $26.00

Bought GDX @ $22.60

Stocks which closed green included   JD XLE
JKS LYFT IQ HUYA SPWR ROKU MOMO
ASML BYND CLDR LULU TSM TWLO 
UBER SHOP UAL FEYE SPLK CGC 
CSIQ PANW SNAP NTNX LNG
WYNN LVS YELP ORCL SINA
SU ULTA CMG....

Here is my portfolio weighting :

AMD      29.44%

TWTR    19.29%

LK         15.56%

JD         11.67%

XLE       8.01%

CIEN     6.70%

GDX      6.37%

TNA      2.96%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, March 19, 2020

Indices closed UP .47% to 2.30%....NICE!!!!

Indices closed UP.

S&P 500 @ 2409.39, high 2466.97, low 2319.78

RSI @ 33.84

CMF @ -0.006

Internals were :

UP volume led by 2.88 to 1 in NYSE & 2.75 to 1 in Nasdaq

Advancing stocks led by 2.64 to 1 in NYSE & 3.17 to 1 in Nasdaq

Net new 52 wk lows were leading by 1392 in NYSE & 809 in Nasdaq

VIX Down 5.82% @ 72.00

Oil @ $25.22

Gold @ $1479.50

Canadian $ @ .5532

In my portfolio :

Bought in pre-market JD @ $37.80

Bought CIEN @ $35.40

Portfolio AMD CIEN JD LK TWTR

Stocks which closed green by 4% or more included CIEN TWTR
VICR JKS LYFT UBER SPWR FSLR ROKU MU QCOM WB
BYND CLDR LULU NVDA MCD TWLO BIDU FB TSLA
EXPE NFLX OLED PANW SNAP LNG WYNN LVS GS
YELP OSTK ULTA SWKS CMG X M......

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE started weak then went UP then crawled to finish in green, this is the-best TAPE can do considering uncertain Corona Virus impact on world economy. Tomorrow could be first strong close IF market stars are aligned. IF we confirm today's UP close with a solid green on Friday, it will be a huge sigh of relief that we probably have discounted most of the bad news.

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 18, 2020

Indices closed down 4.70% to 6.30%....

Indices closed down.

S&P 500 @ 2398.10, low 2280.52, high 2453.57

RSI @ 33.36

CMF @ -0.010

Internals were :

Down volume led by 14.09 to 1 in NYSE & 4.91 to 1 in Nasdaq

Declining stocks led by 13.31 to 1 in NYSE & 8.82 to 1 in Nasdaq

Net new 52 wk lows were leading by 2986 in NYSE & 1679 in Nasdaq

VIX UP .71% @ 76.45

Oil @ $20.37....new 18 year low

Gold @ $1477.90

Canadian $ @ .5463....new 4 year low

In my portfolio AH added 100% LK @ $27.77

Portfolio AMD LK TWTR

Stocks which closed green included BZUN AMZN FEYE
CLVS ORCL OSTK......

AH news.....ACMR UP 15.94%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE followed its pattern of 1 UP and 1 DOWN day and making new Corona Virus lows. Most commentators look tired and disoriented with this TAPE, nobody can make any sense of Corona Virus related market as history is no guide as far as I know. World is united in dealing with this menace as fast as possible. Borders are closing and government are asking everyone to stay home with compensation to follow.

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 17, 2020

Indices closed UP 5.20% to 6.23%...NICE!!!!

Indices closed UP.

S&P 500 @ 2529.19, high 2553.93, low 2367.04

RSI @ 36.20

CMF @ -0.089

Internals were :

UP volume led by 2.17 to 1 in NYSE & 2.37 to 1 in Nasdaq

Advancing stocks led by 1.44 to 1 in NYSE & 1.96 to 1 in Nasdaq

Net new 52 wk lows were leading by 1798 in NYSE & 1090 in Nasdaq

VIX Down 8.20% @ 75.91

Oil @ $26.95

Gold @ $1525.80

Canadian $ @ .5808

Portfolio AMD LK TWTR

Stocks which were UP 5% or more included AMD LK
CIEN VICR JKS SQ SPWR ROKU QCOM XLNX
BZUN NVDA TSM TWLO MSFT NEM LRCX
SHOP AMZN FEYE SPLK CRON AMAT YY
CSIQ NFLX QRVO MU ORCL SWKS CNX...

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE staged a deeply oversold bounce. VIX did not budge too much, a tell tale of things to come. Internals were mixed. It is extremely hard to gauge this market as news flow is very grim with infection & death numbers piling up. Every day is challenging in more ways than one. Keep a very long term view with very high comfort stocks.

BLOG does NOT give buy or sell.

Saleem

Monday, March 16, 2020

Indices closed down 11.98% to 12.93%....

Indices closed down.

S&P 500 @ 2386.13, low 2380.94, high 2562.98

RSI @ 30.17

CMF @ -0.072

Internals were :

Down volume led by 14.11 to 1 in NYSE & 5.53 to 1 in Nasdaq

Declining stocks led by 14.60 to 1 in NYSE & 11.50 to 1 in Nasdaq

Net new 52 wk lows were leading by 2689 in NYSE & 1916 in Nasdaq

VIX UP 42.99% @ 82.69 ...high today 82.56.....new multi year high

Oil @ $28.70

Gold @ $1486.50

Canadian $ @ .6034

Portfolio AMD LK TWTR

Stocks which closed green included NEM AEM CNX
AAL CRON.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE took it on the chin again despite effort by Fed and major effort to contain and deal with Corona Virus. S&P 500 was down 11.98% and DOW 12.93% in today's trading.S&P 500 has lost 1012.58 points from its high in 4 weeks, this is a hair cut of 29.84%...so this rout went from overbought pullback to a correction of 10% to a total collapse of 30%. In my humble opinion, we have already discounted slowdown till August 2020, the question IS...do we need to discount more than August slump.....NO......

BLOG does NOT give buy or sell.

Saleem

Sunday, March 15, 2020

Can stock market look 6 months ahead?

Normally stock market looks ahead 6 months.....

IF that is the case, there is lot to be optimistic about....

We all know we are facing 2 quarters of pain Q 1 & Q 2.....in terns of Sales & EPS...

Somehow bull bear ratio is still too bullish, bulls 36.2% bears 22.9%.....which has surprised me....maybe there is much more pain to come.....

@ bear market lows, it used to be 60% bear .......

News flow is fast & furious worldwide.....more and more infection being reported and more are dying...

Looking @ RSI, these are the numbers :

SOX        39.99

Nasdaq    38.67

S&P 500 37.67

DOW      36.76

IWM       27.43

Even after Friday's huge rally, Russell 2000 is in deeply oversold territory.

Oil can be useful in finding direction for stock market, IF Oil is UP...there is a good chance that Stock market may follow oil's lead.

Oil price is a real indicator of where economy stands in terms of growth / GDP

This TAPE has been painful for most of us, only those short this market were smiling....

I expect more volatility in near term, then a strong move UP from there.

I am staying in very high comfort / strong stocks based on current and future trends....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem


Friday, March 13, 2020

Indices closed UP 9.29% to 9.36%....NICE !!!!

Indices closed UP after meandering between unchanged to 800 points plus in DOW then rocket launch in last hour to best gain since 2008. US politicians got down to business @ hand of infection containment / isolation and President Trump did his homework which added up to a confidence building bullish close.

S&P 500 @ 2711.02, high 2711.33, low 2492.37

RSI @ 37.67

CMF @ 0.010

Internals were :

UP volume led by 8.68 to 1 in NYSE & 4.15 to 1 in Nasdaq

Advancing stocks led by 4.68 to 1 in NYSE & 2.87 to 1 in Nasdaq

Net new 52 wk lows were leading by 898 in NYSE & 828 in Nasdaq

VIX Down 23.37% @ 57.83

Oil @ $31.73

Gold @ $1516.70

Canadian $ @ .6004

In my portfolio :

Added 60% TWTR @ $27.70

Sold LSCC @ $15.18

Sold IQ @ $18.01

Stocks which closed UP included   AMD LK TWTR
CIEN VICR SQ MU ASML QCOM XLNX NVDA
TSM FB LRCX UAL AAPL SPLK AMAT GOOG 
PANW QRVO SNAP NTNX WYNN LVS GS MS
MA V ORCL MSFT CNX.....

Here is my highly concentrated portfolio :

AMD        49.13%

TWTR     35.52%

LK           15.35%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, March 12, 2020

Indices closed down 9.43% to 9.99%.....

Indices closed down.

S&P 500 @ 2480.64, low 2478.86, high 2660.95

RSI @ 25.48

CMF @ -0.062

Internals were :

Down volume led by 12.12 to 1 in NYSE & 9.54 to ! in Nasdaq

Declining stocks led by 23.63 to 1 in NYSE & 17.60 to 1 in Nasdaq

Net new 52 wk lows were leading by 3134 in NYSE & 2081 in Nasdaq

VIX UP 40.02% @ 75.47

Oil @ $31.50

Gold @ $1590.30

Canadian $ @ .6127

In my portfolio

Bought TWTR @ $27.88
Added 200% AMD @ $41.58

Sold SQ @ $51.80
Sold SPWR @ $5.19
Sold HUYA @ $15.50

Portfolio AMD IQ LSCC LK TWTR

Stock which closed green CNX

AH news....AVGO Down 9.73%

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE closed @ low of the day and is breaking record of fastest % decline in history, did not like the way market was closing so Sold HUYA & SPWR right before close and sold SQ in AH. Corona Virus is finally taking hold firmly in US & Canada with very high profile celebrity taking precaution and staying home and being monitored. Most Schools, arenas, activities are being cancelled all over the world, crowd situation needs to be avoided. On all metrics we are deeply oversold BUT emotion & panic is setting in.

BLOG does NOT give buy or sell.

Saleem

Wednesday, March 11, 2020

Indices closed down 4.70% to 5.86%.....

Indices closed down.

S&P 500 @ 2741.38, low 2707.22, high 2825.60

RSI @ 32.07

CMF @ 0.037

Internals were :

Down volume led by 30.66 to 1 in NYSE & 4.39 to 1 in Nasdaq

Declining stocks led by 13.50 to 1 in NYSE & 8.24 to 1 in Nasdaq

Net new 52 wk lows were leading by 1624 in NYSE & 1023 in Nasdaq

VIX UP 13.95% @ 53.90

Oil @ $33.98

Gold @ $1642.30

Canadian $ @ .6249

In my portfolio Bought AMD @ $44.20

Portfolio AMD HUYA IQ LSCC LK SQ SPWR

Stocks closed in green AMD CLDR

AH news...CSIQ Down 7.99%

AH Futures Down

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE took its direction from spreading infection & deaths worldwide, all arenas and gatherings are being closed. WHO finally admitted to Corona Virus as Pandemic thus market reacted accordingly to new negativity by going into a bear market. President Trump is under intense pressure to save his reelection by delivering some serious approach to contain this pandemic from damaging economy of USA.

BLOG does NOT give buy or sell.

Saleem

Tuesday, March 10, 2020

Indices closed UP 4.89% to 4.95%...NICE !!!!

Indices closed UP.

S&P 500 @ 2882.23, high 2882.59, low 2734.00

RSI @ 36.86

CMF @ 0.050

Internals were :

UP volume led by 8.34 to 1 in NYSE & 3.05 to 1 in Nasdaq

Advancing stocks led by 2.64 to 1 in NYSE & 2.05 to 1 in Nasdaq

Net new 52 wk lows were leading by 955 in NYSE & 681 in Nasdaq

VIX Down 13.15% @ 47.30

Oil @ $34.36

Gold @ $1660.30

Canadian $ @ .6218

Portfolio HUYA IQ LSCC LK SQ SPWR

Stocks which were UP 3% or more included IQ LSCC LK
MRVL MU ASML QCOM WB XLNX BYND CLDR
TWTR CIEN NVDA TSM JKS MCD BIDU MSFT
TSLA LRCX SHOP AMZN UAL AAL AAPL
VICR FSLR CGC BABA NFLX OLED V
PANW QRVO YY SNAP AMAT AMD X
WYNN LVS GS MA MS SWKS NKE
CMG....

AH news...VSLR Down 15.02%, INO UP 8.42%

                  CLDR UP 10.57%....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE after initial yo yo action closed @ highest point of the day. Most sectors participated in this rally. I am hoping for a positive close on Wednesday to confirm "negativity is out ". New York Corona Virus infection is getting lot of media attention which is reflected in Futures.

BLOG does NOT give buy or sell.

Saleem

Monday, March 9, 2020

Indices closed down 7.29% to 7.79%.....

Indices closed down.

S&P 500 @ 2746.56, low 2734.43, high 2863.89

RSI @ 27.13

CMF @ 0.008

Internals were :

Down volume led by 25.03 to 1 in NYSE & 7.79 to 1 in Nasdaq

Declining stocks led by 18.03 to 1 in NYSE & 19.12 in Nasdaq

Net new 52 wk lows were leading by 2141 in NYSE & 1346 in Nasdaq

VIX UP 29.85% @ 54.46...high today 62.12

Oil @ $31.13

Gold @ $1670.40

Canadian $ @ .6445

In my portfolio ...Added 100% SQ @ $66.00

Portfolio HUYA IQ LSCC LK SQ SPWR

Stock which closed green CNX...

AH news...CY UP 46.27%

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE went into freefall when Saudi Arabia & Russia started a price war in oil, as they say rest is history, many sectors besides oil slumped badly. These things work out slowly as price readjust to a more sane level. Ironically this pullback took many players by surprise and were caught on the wrong side of trade. Hopefully sanity returns on a " turnaround Tuesday "....

BLOG does NOT give buy or sell.

Saleem

Sunday, March 8, 2020

Will Indices test recent lows......

Only 6 trading days ago, we slumped to lows matching October 2019 lows.

All indices are struggling below 200 DMA , DOW being the-worst which is way way below 200 DMA....looking worst among all indices.....

Nasdaq and SOX are above 200 DMA....which is comforting...so far....

Corona Virus news is getting more and more attention with death & infections on the rise.....

Over 105,000 infected and close to 4,000 death......worldwide......

China Korea Iran Italy are the hotbed of increasing number of death.

It is NOT the absolute numbers worldwide, but it is the enormity, almost 100 countries infected globally which IS causing major alarm bell...

When psychology of fear and unknown takes over, then rationale analysis do not hold water.....

Market IS stuck in ' fear of unknown "

That kind of " hysteria " can take these indices below recent lows.....

On the other side, we got a friend in Central Banks / Reserve Banks worldwide all cutting interest rates aggressively and willing to go to ZERO  or even NEGATIVE IF need be......

Never fight the fed mantra may neutralize some fear of unknown.....

Based on all of the above, It IS NOT about RSI or oversold conditions which we do have, but it is all about " news flow "

Russell 2000 has 29.90 RSI on the low side and SOX has 39.82 on the high side...I never thought I will define high & Low RSI with these numbers.....

Most of us are spectators in this fast moving news flow which directly affects stock price movements.....on a minute by minute basis.....

SO...keep your high comfort stocks with patience and WAIT for news flow to go in the background, then only normal TAPE will return.

Good luck with your own analysis and comfort level

BLOG does NOT give buy or sell.

Saleem

Friday, March 6, 2020

Indices closed down .98% to 1.87%.....

Indices closed down but near high of the day, continued concern about Corona Virus and its growing infection put downward pressure. Better than expected jobs report in USA & Canada was ignored from the prism of Virus impact in future.

S&P 500 @ 2972.37, low 2901.54, high 2985.93

RSI @ 35.62

CMF @ 0.064

Internals were :

Down volume led by 5.20 to 1 in NYSE & 2.12 to 1 in Nasdaq

Declining stocks led by 4.41 to 1 in NYSE & 3.77 to 1 in Nasdaq

Net new 52 wk lows were leading by 826 in NYSE & 560 in Nasdaq

VIX UP 5.86% @ 41.94...high today 54.39..brand new 52 wk high...

Oil @ $41.28....low low multi year...41.05 new low today.....

Gold @ $1672.40..high today $1692.80....almost touching multiyear high of $1700.00

Canadian $ @ .6572...near 52 wk low....

Stocks which closed green included MOMO AMD
BYND MCD NEM UAL EXPE FFIV TRIP CNX...

Here is my portfolio weighting :

LSCC        27.86%

SQ            20.80%

HUYA      15.57%

IQ           13.76%

LK          13.49%

SPWR     8.52%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem