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
11 comments:
Hi Saleem,
Good luck with more LK!
Things feel different this morning: no new cases in China, and Italy's stock market is up. Even Starbucks is opening their Wuhan location. I don't perceive the sense of panic like people need to sell whatever they can to raise cash - we'll see how it shakes out I guess. Eventually we knew the declines would have to end.
Stocktrader
Hi Saleem,
I am tempted to get TNA versus some stock picking as all stocks tend to rise a similar amount, hence the 3x leveraged can really outperform.
Stocktrader
Hi Stocktrader,
YES...3X the gain is better than 1X...go for it
Bought JD in pre market @ $$37.80
Bought CIEN @ $35.40
Saleem
Hi Saleem,
Good luck with JD and CIEN!
Sold FSLY @ 16.56 to take profits
Bought TNA @ 13.05
It feels like people are scrambling to get exposure today.
Stocktrader
Hi Saleem,
Well, I nearly top-ticked TNA, but I'm still optimistic the selling carnage is over and small caps often rebound hard.
Stocktrader
Hi Stocktrader,
Well I did the same with LK yesterday AH....
Good luck with TNA....
Saleem
Hi Saleem,
Yes, it is a difficult trading environment still...
Sold half CSTL @ 25.51
Added to TNA @ 12.57
I plan to sell the rest of CSTL today as it is too expensive despite good earnings and guidance recently, and just has been too much of a "safe haven" (I want the beaten down stocks more right now). I also wonder if a secondary is coming.
Stocktrader
Hi Stocktrader,
Good luck with more TNA.....
Saleem
Hi Saleem,
Sold the rest of CSTL @ 25.76
Added to TNA @ 12.64
Stocktrader
Hi Saleem,
TNA is a little more dislocated than I'd prefer right now, but I think it should work out.
I was looking at MOMO heavily and bought it for some of my smaller accounts. Given how much it was dumped/shorted recently given its dating app, and guidance this morning that didn't seem too terrible, especially in a longer term outlook, I think it could rebound more sharply given the "back to business" in China.
Stocktrader
Hi Stocktrader,
Good luck with more more more TNA....
MOMO is definitely attractive, good luck!
Saleem
Post a Comment