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

12 comments:

stocktrader_1996 said...

Hi Saleem,

Nice job selling some things high to look for new opportunities!

Good luck with MU tomorrow night - I am nervous about what kind of guidance they may give, but maybe especially with regards to capex, so I'm probably going to sell ACMR tomorrow to take profits.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Added 200% SU @ $11.90....lucky got filled...

Saleem


Stocks100 said...


Hi Stocktrader,

Bought ROKU @ $93.00

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with the new buys - great price on SU!

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold HUBS @ 144.23 to take profits

Wow, what a run.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Bought FB @ 162.00

Despite the warning on some decreased ad revenue, I thought the commentary was overall positive for the medium and long term.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold ACMR @ 29.00 to take profits

Another winner, time to rotate and find another.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Bought AGCO @ 46.70

I think agriculture takes on a more prominent role here.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good moves in booking profit$$$$$

Good luck with FB, AGCO...

Saleem

stocktrader_1996 said...

Hi Saleem,

First look at MU guidance looks pretty amazing, all things considered in this environment. I expect it to do extremely well tomorrow.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Thanks for your take on MU guidance...it is in-line with consensus.

Saleem

stocktrader_1996 said...

Hi Saleem,

Q2 in line with consensus is incredible right now. Data center and PCs are strong - that should clearly help AMD tomorrow too.

Stocktrader