Sunday, May 31, 2020

Will CHINA retaliate?

As we are waiting for futures to open, bigger news could be how CHINA will retaliate.

US CHINA trade dispute has gone well beyond the scope of phase 1.

It is about " unrest and foreign intervention or support of Hong Kong dissidents "

US UK CANADA and other countries are giving active support to dissidents plus are making policy decisions to support any exit from Hong Kong.

UK has widened the eligibility requirement to give residency in UK to include most of Hong Kong residents...

Based on all these recent developments, it must not surprise anyone IF there is " retaliatory policies from CHINA "

How wall street will react depends on Hong Kong / Shanghai reaction overnight...

Last time there was no reaction when we opened......hoping that will be the case this time around.

Back to US markets, here is the RSI read :

Nasdaq            65.01

S&P 500          63.54

DOW               62.03

IWM               60.75

SOX               59.66

XLE               55.60

IF we analyze above numbers, it is easy to see that all 3 major indices are in " overbought territory "

SOX & Russell 2000 also in overbought area

This may suggest any negative headline about COVID-19 or CHINA may impact markets.....so keep an eye on news flow / tweets....

XLE has under performed despite major improvement in crude prices, sometimes there is a lag in crude prices and stocks......

It is highly suggested that gains needs to be booked quickly....

Rotation will play a key role in getting better results based on overbought / oversold sectors.

Message of the market has been very clear so far, things may not be as bad as feared......

Normal rotations and pullbacks still to be in play going forward.

Good luck with your own thesis and comfort level with this TAPE.

BLOG does NOT give buy or sell.

Saleem


Friday, May 29, 2020

Indices closed mixed......

Indices closed mixed despite new sanctions against Hong Kong.

S&P 500 @ 3044.31, high 3049.17, low 2098.61

RSI @ 63.54

CMF @ 0.042

Internals were :

UP volume led by .57 to 1 in NYSE & 1.27 to 1 in Nasdaq

Advancing stocks led by .92 to 1 in NYSE & 1.01 to 1 in Nasdaq

Net new 52 wk highs were leading by 15 in NYSE & 64 in Nasdaq

VIX Down 3.78% @ 27.51

Oil @ $35.49

Gold @ $1751.70

Canadian $ @ .6186

Stocks which were UP 2% or more included CNX ENPH
DDOG PDD JD UBER MU SEDG AMD ELF MRNA
TER VICR JKS QCOM XLNX BYND LULU NVDA
TSLA BABA QRVO SNAP NTNX AMAT OSTK 
SWKS PANW.....

Here is my portfolio weighting :

SU            20.78%

CCL         19.10%

MGM      15.65%

CNX       15.48%

AAL       12.75%

APA         9.18%

ENPH     7.06%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, May 28, 2020

Indices closed down .21% to .58%.....

Indices closed down.

S&P 500 @ 3029.73, low 3023.40, high 3068.67

RSI @ 62.52

CMF @ -0.011

Internals were :

Down volume led by 2.69 to 1 in NYSE & 1.69 to 1 in Nasdaq

Declining stocks led by 1.17 to 1 in NYSE & 1.80 to 1 in Nasdaq

Net new 52 wk highs were leading by 37 in NYSE & 73 in Nasdaq

VIX UP 3.51% @ 28.59

Oil @ $33.71

Gold @ $1728.30

Canadian $ @ .6232

In my portfolio :

Sold TLRY @ $11.35
Sold SPCE @ $16.95
Added 250% AAL @ $11.14
Added 150% MGM @ $17.50

Portfolio AAL APA CCL CNX ENPH MGM SU

Stocks which closed green included DDOG CGC PINS
SNAP MRNA ROKU MCD AEM MTCH CLVS MA
ORCL CMG V.....

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was green today until 1 hour into close and came famous tweet about upcoming policy news conference about CHINA on Friday...perfect timing to inject uncertainty for diversion purposes. We closed near low of the day in red.We have enough issues @ hand about COVID-19 and US economy instead of daily rhetoric against China.

BLOG does NOT give buy or sell.

Saleem

Wednesday, May 27, 2020

Indices closed UP .77% to 2.21%...NICE !!!!

Indices closed UP.

S&P 500 @ 3036.13, high 3036.25, low 2969.75

RSI @ 63.24

CMF @ 0.042

Internals were :

UP volume led by 4.67 to 1 in NYSE & 1.88 to 1 in Nasdaq

Advancing stocks led by 3.80 to 1 in NYSE & 2.21 to 1 in Nasdaq

Net new 52 wk highs were leading by 16 in NYSE & 36 in Nasdaq

VIX Down 1.39% @ 27.62

Oil @ $32.22

Gold @ $1726.80

Canadian $ @ .6207

In my portfolio :
In pre market Bought ENPH @ $60.00,
Sold AAL $12.34, Sold MGM @ $18.90...
Bought MGM @ $17.50, CCL @ $17.10
In AH Bought AAL @ $12.03

Portfolio AAL,APA CCL CNX ENPH MGM SU TLRY SPCE

Stocks which were UP 2% or more included
AAL CCL MGM SPCE 
CIEN MU UPS ELF TER
NCLH DAL DHI KBH PHM
NKE BA VICR LYFT XLNX
WB LRCX UAL AMAT FFIV 
OLED QRVO SLB NTNX WYNN
MS ULTA NKE X M .....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was super strong in pre market which encouraged me to book gains, after open we dipped into red then fought our way back to close @ high of the day. This rally has lot of room to run as many skeptics still do not believe this strong TAPE based on their own intellect /or work or charts looking upside down or finding double top every 50 points, many do not look happy when they reluctantly admit, that they do like few stocks now.

BLOG does NOT give buy or sell.

Saleem

Tuesday, May 26, 2020

Indices closed UP .17% to 2.17%....NICE !!!!

Indices closed UP.

S&P 500 @ 2991.77, high 3021.72, low 2988.17

RSI @ 60.30

CMF @ -0.065

Internals were :

UP volume led by 4.74 to 1 in NYSE & 1.91 to 1 in Nasdaq

Advancing stocks led by 4.92 to 1 in NYSE & 2.36 to 1 in Nasdaq

Net new 52 wk highs were leading by 36 in NYSE & 116 in Nasdaq

VIX Down .53% @ 28.01

Oil @ $34.35

Gold @ $1705.60

Canadian $ @ .6173

Portfolio AAL APA CNX MGM SU TLRY SPCE

Stocks which were UP 4%+ included AAL APA MGM TLRY
CCL JD PINS KRA NCLH DAL BIDU BA UAL EXPE
YY SLB YELP TWTR FSLR WYNN LVS MS ULTA
X M......

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was extremely strong maintained UP move of up to 700 DOW points closing @ 500++. Many laggards were flying with double digits gain in today's session alone. These rotation is very healthy for market. Tomorrow's TAPE should be interesting as to which sector will be in focus, old FANG or new laggards.

BLOG does NOT give buy or sell.

Saleem


Monday, May 25, 2020

Rally continues in world markets.....

Futures are sharply higher reflecting growing confidence that world economic activities are perking up.

This market has added juice with thousands of skeptics who keep insisting that we are headed for retest of lows any moment.....

Most sharp upturn always have great following of skeptics or extremely reluctant participants whose finger is always on sell button.

Nasdaq is closest to all time highs...this week may do it in style

S&P 500 and other indices are ready to jump above 200 DMA thus completing 50 DMA & 200 DMA left behind in dust....

SOX is 2nd best position to take on new all time highs after Nasdaq

Those who are overweight this market are reaping benefit big time...

There may be a mad rush to get in when we open for trading on post memorial day .....

Tuesday may show what a strong open looks like.....

Biggest gains may come from economic ridden laggards like Airlines, Cruise lines, Oils...to name a few....

I strongly believe that biggest gains going forward may be in oil, gas, exploration stocks, they are still near bottom of the range......

Money is made in market with conviction first with TAPE and then with strong comfort level stocks..

Biggest expert is within you, you just have to follow your research, instinct and conviction.....

It is not late to take advantage of this TAPE......

PARTY is just getting started.....

Start your engine......

Good luck with your own interpretation of this TAPE and your comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, May 22, 2020

Indices closed mixed.....

Indices closed mixed despite Chinese security decision for Hong Kong. Hong Kong tanked 5.5% but we managed to close green and at high in S&P 500, things are changing for sure.

S&P 500 @ 2955.45, high 2956.76, low 2933.59

RSI @ 57.74

CMF @ -0.001

Internals were :

UP volume led by .82 to 1 in NYSE & 1.76 to 1 in Nasdaq

Advancing stocks led by 1.18 to 1 in NYSE & 1.31 to 1 in Nasdaq

Net new 52 wk highs were leading by 25 in NYSE & 62 in Nasdaq

VIX Down 4.64% @ 28.16

Oil @ $33.25

Gold @ $1735.50

Canadian $ @ .5973

Stocks which were UP 1% or more included APA CNX TLRY SPCE
DDOG UBER CIEN KRA ELF MRNA TER DHI KBH PHM FB
MRVL LULU TWLO CRON PANW QRVO NTNX LNG SWKS...

Here is my portfolio allocation :

SU             22.85%

AAL           21.40%

CNX         17.34%

MGM       15.95%

APA         11.40%

TLRY        6.86%

SPCE       4.20%

Next post on Monday around 6 PM

BLOG does NOT give buy or sell.

Saleem

Thursday, May 21, 2020

Indices closed down .41% to .97%.....

Indices closed down.

S&P 500 @ 2948.51, low 2938.57, high 2978.50

RSI @ 57.25

CMF @ 0.004

Internals were :

Down volume led by 1.16 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks were leading by 1.01 to 1 in NYSE & 1.40 to 1 in Nasdaq

Net new 52 wk highs were leading by 18 in NYSE & 46 in Nasdaq

VIX UP 5.50% @ 29.53

Oil @ $34.66

Gold @ $1721.90

Canadian $ @ .6047

Portfolio AAL APA CNX MGM SU TLRY SPCE

Stocks which were UP 1% or more included TLRY
CCL CGC CRON ABBV CLDR EAT KRA ELF
NCLH LULU TWLO TSLA UAL NTNX CHK
ULTA NKE M.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE opened green but it was down hill until close, we closed near low of the day. Pot stocks made incredible gains during the day and continued surging after hours. Most earnings report after hours were greeted with thumbs UP which means we may close UP on Friday.

BLOG does NOT give buy or sell.

Saleem


Wednesday, May 20, 2020

Indices closed UP 1.52% to 2.08%...NICE !!!!

Indices closed UP.

S&P 500 @ 2971.61, high 2980.29, low 2953.63

RSI @ 59.38

CMF @ -0.015

Internals were :

UP volume led by 3.78 to 1 in NYSE & 2.42 to 1 in Nasdaq

Advancing stocks led by 4.24 to 1 in NYSE 7 3.72 to 1 in Nasdaq

Net new 52 wk highs were leading by 32 in NYSE & 73 in Nasdaq

VIX Down 8.32% @ 27.99

Oil @ $33.49

Gold @ $1752.10

Canadian $ @ .6084

In my portfolio Bought SPCE @ $15.35

Portfolio AAL APA CNX MGM SU TLRY SPCE

Stocks which were UP 2% or more included 
AAL APA MGM SU
CNQ CVX SLB UBER
CLDR CIEN SQ MU KRA
ELF TER BCLH DAL SHOP
MRVL ASML QCOM XLNX
BYND LULU TWLO AMZN
FB UAL QRVO YY SNAP CHK
NTNX LNG TWTR WYNN LVS
MA MS OSTK SWKS LRCX PANW...

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE opened higher and kept going UP and closed near high of the day. Most sectors participated in this rally. Economic activity in USA is going smoothly without any unexpected issues which is encouraging to traders and investors. We are near some very key technical levels to conquer which may happen before or after Memorial day.

BLOG does NOT give buy or sell.

Saleem


Tuesday, May 19, 2020

Indices closed down .54% to 1.59%......

Indices closed down.

S&P 500 @ 2922.94, low 2922.35, high 2964.21

RSI @ 56.19

CMF @ -0.021

Internals were :

Down volume led by 2.64 to 1 in NYSE & 1.11 to 1 in Nasdaq

Declining stocks led by 1.43 to 1 in NYSE & 1.61 to 1 in Nasdaq

Net new 52 wk highs were leading by 39 in NYSE & 59 in Nasdaq

VIX UP 4.20% @ 30.53

Oil @ $32.50

Gold @ $1734.40

Canadian $ @ .6117

In my portfolio...in AH Sold SRNE @ $5.44
Added 25% AAL @ $9.96 in pre market

Portfolio AAL APA CNX MGM SU TLRY

Stocks which closed green included......TLRY
CGC ENPH DDOG SQ LITE SPWR RUN
BYND BZUN FB NEM AEM LRCX NIU
SPLK FSLR AMAT CSIQ YY SPWR
OSTK CMG......

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was higher then made a sudden sharp u turn to close @ low of the day. We lost less than half of yesterday's gain which is a sign of ongoing technical strength and no panic selling, just normal back and forth trending higher & higher. Traders are feeling comfortable in allocating dollars to equities as most states are adjusting to new opening format.

BLOG does NOT give buy or sell.

Saleem

Monday, May 18, 2020

Indices closed UP 2.44% to 3.85%....NICE !!!!

Indices closed UP.

S&P 500 @ 2953.91, high 2968.09, low 2913.86

RSI @ 58.92

CMF @ -0.011

Internals were :

UP volume led by 10.14 to 1 in NYSE & 3.21 to 1 in Nasdaq

Advancing stocks led by 7.12 to 1 in NYSE & 4.42 to 1 in Nasdaq

Net new 52 wk highs were leading by 51 in NYSE & 4.42 to 1 in Nasdaq

VIX Down 8.12% @ 29.30

Oil @ $31.82

Gold @ $1734.40

Canadian $ @ .6060

In my portfolio :

Bought SRNE @ $9.20
Bought TLRY @ $7.95
Sold JD @ $55.25

Portfolio AAL APA CNX MGM SRNE SU TLRY

Stocks which were UP 7% or more included
AAL APA CNX MGM JD
ENPH NVAX CCL BMO EAT
KRA ELF MESO MRNA DAL 
BIDU DHI KBH PHM BA LYFT
UAL EXPE YY SLB FSLR SPWR
JKS MOMO MGA MS.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was on fire on optimistic comment about US economy by Fed Chief on 60 minutes. Before open MRNA lit more fire by confirming success in phase 1 testing for treatment of COVID-19 patients. DOW was the strongest and had the best internals of 10 to 1 positive which is very rare. S&P 500 have closed above much touted resistance of 2950 where it failed twice previously but 3rd time was a charm.

BLOG does NOT give buy or sell.

Saleem

Sunday, May 17, 2020

Chinese trade retaliation could impact negatively....

We are back to agenda driven trade rhetoric which may have serious affect in US stock market...

USA is always the leader to initiate trade strategy which is most untimely.....

US economy is in lock down and the last thing we need a new & improved version of restarting a trade war with China...

China is almost back to normal operation in most areas, even airlines are 60% of their volume...US airlines skeptics should take notice of this fact.....it is not fiction.....

China is all set with their own retaliation against key US companies like Boeing, Qualcomm & Apple.....not a very pretty picture for Navarro & the gang.....

Back to US stock market.....

We were doing more than fine fine until........less said the better.....

S&P 500 above 50 DMA

Russell 200 above 50 DMA

DOW above 50 DMA

SOX above 50 & 200 DMA

Nasdaq above 50 & 200 DMA

Many stocks have been testing support and then making new highs which is a sign that this market is on very healthy ground

Indices are also testing support and holding it and moving UP from there.

We all have our favorite stocks and are trading based on our own knowledge of their trading pattern...

Market may react to tit for tat trade strategies......but that may be another buying opportunity...

So take a deep breath and ignore all the macho talk on trade, there is life beyond rhetoric...

Good luck with your own interpretation of trade war and its impact.

BLOG does NOT give buy or sell.

Saleem

Friday, May 15, 2020

Indices closed UP .25% to .79%....NICE !!!!

Indices closed UP and @ high of the day after being down almost 270+ DOW points. Gains came despite heightened trade rhetoric against HUAWEI by White House, maybe market knows its all hot air....

S&P 500 @ 2863.70, high 2865.01, low 2816.78

RSI @ 52.71

CMF @ -0.083

Internals were :

UP volume led by 1.23 to 1 in NYSE & 1.44 to 1 in Nasdaq

Advancing stocks led by 1.41 to 1 in NYSE & 1.68 to 1 in Nasdaq

Net new 52 wk highs were leading by 22 in NYSE & 36 in Nasdaq

VIX Down 2.21% @ 31.89

Oil @ $29.87

Gold @ $1756.30

Canadian $ @ .5904

Stocks which were UP 3% or more included JD
TLRY CGC CRON ACB DDOG PINS NVRX
CCL CLDR CIEN EAT BIDU LULU NVDA
AEM SPLK EXPE NTNX CHK......

JD earnings report was a huge beat in Sales & EPS...

Sales actual $20.5 billion beats by $1.35 billion
EPS actual 28 cents beats by 19 cents

Also guiding higher for Q 2.....
Guiding RMB 180 to 195 billion vs expectations of 
176.51 billion...guiding higher by RMB 10.99 billion

JD stock price made a new all time high of $51.01 & new closing high of $50.85......

In my portfolio...added 35% AAL @ $9.15

Here is my portfolio weighting :

SU         24.97%
AAL      18.86%
CNX     18.81%
MGM   16.05%
APA     11.49%
JD        9.82%

Next post by 6 PM on Sunday!

BLOG does NOT give buy or sell.

Saleem 

Thursday, May 14, 2020

Indices closed UP .91% to 1.62%....NICE !!!!

Indices closed UP.

S&P 500 @ 2852.50, high 2852.80, low 2766.64

RSI @ 51.87

CMF @ -0.087

Internals were :

UP volume led by 2.20 to 1 in NYSE & 2.07 to 1 in Nasdaq

Advancing stocks led by 1.20 to 1 in NYSE & .97 to 1 in Nasdaq

Net new 52 wk lows were leading by 101 in NYSE & 91 in Nasdaq

VIX Down 7.57% @ 32.61

Oil @ $27.56

Gold @ $1740.90

Canadian $ @ .5950

In my portfolio :

Sold CLDR @ $7.80

Bought JD @ $46.90

Portfolio AAL APA CNX JD MGM SU

Before open JD reports, here are the expectations :

Q 1 Sales $19.27 billion to $19.29 billion, EPS 9 cents to 11 cents

Guidance Q 2 Sales $24.91 billion, EPS 30 cents

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

Stocks which closed UP 2% or more included JD MGM
PINS MU AMD TER ASML QCOM XLNX LULU
NVDA TSM TWLO NEM LRCX CGC AMAT
EXPE CLVS SQ......

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was down sharply and closed @ high of the day 2766 area was the support for S&P 500. Most sectors went UP. Friday trading depends on High Frequency Traders but today's TAPE eliminated fears created by vested interest. Internals were mixed.

BLOG does NOT give buy or sell.

Saleem

Wednesday, May 13, 2020

Indices closed down 1.55% to 2.17%.....

Indices closed down.

S&P 500 @ 2820.00, low 2793.15, high 2874.14

RSI @ 49.45

CMF @ -0.105

Internals were :

Down volume led by 8.25 to 1 in NYSE & 3.00 to 1 in Nasdaq

Declining stocks led by 6.38 to 1 in NYSE & 4.30 to 1 in Nasdaq

Net new 52 wk lows were leading by 73 in NYSE & 54 in Nasdaq

VIX UP 6.78% @ 35.28

Oil @ $25.29

Gold @ $1716.40

Canadian $ @ .5908

Portfolio AAL APA CNX CLDR MGM SU

Stocks which closed green included JD NVRX UBER
DDOG MESO MRNA SHOP NEM AEM AMZN
NFLX PANW OSTK PANW....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was on the defensive right after open and closed @ low of the day. Famous Wall Street guru David Tepper lit more fire by saying this is the second most overvalued market since 1999 2000 bubble. These wild bearish statements actually brings a bottom in a hurry, so there is good news there. Always book your profit, a mantra one must practice or you lose all profit in a hurry.

BLOG does NOT give buy or sell.

Saleem

Tuesday, May 12, 2020

Indices closed down 1.89% to 2.06%......

Indices closed down.

S&P 500 @ 2870.12, low 2869.59, high 2945.82

RSI @ 53.28

CMF @ -0.082

Internals were :

Down volume led by 4.16 to 1 in NYSE & 1.26 to 1 in Nasdaq

Declining stocks led by 2.89 to 1 in NYSE & 2.63 to 1 in Nasdaq

Net new 52 wk highs were leading by 14 in NYSE & 77 in Nasdaq

VIX UP 19.84% @ 33.04

Oil @ $25.78

Gold @ $1706.00

Canadian $ .5989

In my portfolio :

Added 100% APA @ $12.20

Sold CIEN @ $49.10

Sold ENPH @ $63.00

Sold MU @ $45.90....10 minutes before close....

Portfolio AAL APA CNX CLDR MGM SU

Stocks which closed green included JD ABBV UBER DDOG
ELF SQ BYND TWLO YY CLVS YELP OSTK.....

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE started green but started to fade in DOW & S&P 500, in the final hour selling accelerated and everything went down and closed @ low of the day, what happened is the logical question....technology was overbought and confusion remains about early opening of US economy and its implication of second round of infection.

BLOG does NOT give buy or sell.

Saleem

Monday, May 11, 2020

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2930.19, high 2944.25, low 2903.44

RSI @ 58.32

CMF @ 0.000

Internals were :

Down volume led by 2.80 to 1 in NYSE & 1.56 to 1 in Nasdaq

Declining stocks led by 1.68 to 1 in NYSE & 1.18 to 1 in Nasdaq

Net new 52 wk highs were leading by 28 in NYSE & 104 in Nasdaq

VIX Down 1.47% @ 27.57

Oil @ $24.14

Gold @ $1698.00

Canadian $ @ .5969

Portfolio AAL APA CIEN CNX CLDR ENPH MGM MU SU

Stocks which were UP 1% or more included CIEN ENPH
DDOG SEDG AMD MSFT AAPL ROKU LULU NVDA
TWLO AMZN SPLK BABA GOOG NFLX OSTK
CMG PANW.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was Down then UP and then faded into close. Lot of anxiety over 2nd time virus infection in Germany & Korea plus new report of infection is Wuhan China, where it all started. US is opening its economy and some are of the view its premature or not all preparations are completed. Market may reflect bout of anxiety as we go forward.

BLOG does NOT give buy or sell.

Saleem

Sunday, May 10, 2020

Momentum building UP.......

Nasdaq is the superstar of all indices when it has vaulted well above both 50 DMA & 200 DMA, SOX is the second superstar also above 50 & 200......

S&P 500 is next in line to travel above key technical level of  200 DMA already above 50 DMA...

SO.....technical backdrop of this market has come a long way in a short span of 7 weeks......

March 23rd was the low point and Friday Nasdaq vaulted into positive for the year....

Can you imagine how far we have come in 7 weeks from March 23rd low, here is the tabulation :

SOX                 UP 43.87%

Russell 2000  UP 38.86%

Nasdaq           UP 37.54%

S&P 500        UP 33.67%

DOW             UP 33.59%

Everyone can see how fast and swift we have snapped back .......

Almost 44% gain from low in SOX and Russell 2000 almost 39%.....IWM is the big surprise for me, even beating hedge fund favorite momentum index Nasdaq as we all know....

Moral of the story IS.... have faith in your own stocks be it AAPL or unknown DDOG they all have come around and surprised everyone.....

How can we forget some well known well paid gurus who are "still waiting for retest of lows " and missing an almost 40% upsurge......

As we have noted SOX & IWM have resumed their leadership over even Nasdaq, it is a safe bet that those two especially Russell 2000 (IWM) will run away this time after a long consolidation......

Always do your own home work on your favorite stock and stick with it...popularity does not win the race all the time....

Popular stocks are generally very expensive beyond the reach of most investors, then ETF may be the route via QQQ....

IWM has low priced stocks and sometimes their % gains are in triple digits......

SO..do not knock your own discovery of emerging growth stocks...it may be the-best idea for a long time.

MY favorite theme for this snap back is totally different from above leaders...it is Oil, Nat Gas & Exploration companies....they have been in the biggest slump for decades and have build a nice long long base.....a format which has rewarded big time when & IF they start to move....

Good luck with your own due diligence and comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, May 8, 2020

Indices closed UP 1.58% to 1.91%....NICE !!!!

Indices closed @ high of the day despite much anticipated bad news on jobs and unemployment. Economic revival is the focus of Wall Street not yesterday's news.

S&P 500 @ 2929.80, high 2932.16, low 2902.88

RSI @ 58.29

CMF @ 0.002

Internals were :

UP volume led by 8.53 to 1 in NYSE & 4.03 to 1 in Nasdaq

Advancing stocks led by 4.94 to 1 in NYSE & 3.49 to 1 in Nasdaq

Net new 52 wk highs were leading by 35 in NYSE & 76 in Nasdaq

VIX Down 11.01% @ 27.98

Oil @ $24.74

Gold $1713.90

Canadian $ @ .6086

Stocks which were UP 4% ++AAL APA CNX ENPH MGM
DDOG SEDG CCL EST KRA TWTR PINS MRNA DAL
DHI KBH PHM BYND LULU TWLO UBER LRCX 
UAL AMAT SLB WYNN LVS SWKS X M ....

Here is my portfolio weighting :

SU          17.72%
MU         17.42%
CIEN      14.91%
CNX       13.85%
MGM     12.11%
AAL       10.50%
ENPH     4.52%
APA        4.51%
CLDR    4.46%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem


Thursday, May 7, 2020

Indices closed UP .89% to 1.41%....NICE !!!!

Indices closed UP.

S&P 500 @ 2881.19, high 2901.92, low 2876.48

RSI @ 55.35

CMF @ -0.006

Internals were :

UP volume led by 2.67 to 1 in NYSE & 2.39 to 1 in Nasdaq

Advancing stocks led by 2.96 to 1 in NYSE & 2.33 to 1 in Nasdaq

Net new 52 wk highs were leading by 9 in NYSE & 52 in Nasdaq

VIX Down 7.85% @ 31.44

Oil @ $23.53

Gold @ $1725.80

Canadian $ @ .6022

In my portfolio :

Bought APA in pre market @ $11.63
Bought ENPH @ $54.50 minutes before close

Portfolio AAL APA CIEN CNX CLDR ENPH MGM MU SU

Stocks which were UP 3%++ AAL CLDR ENPH MGM SU
DDOG CCL EAT TWTR PINS ROKU DAL BA LYFT
LSCC SQ TWLO UBER AEM NEM FEYE SPLK
FSLR EXPE PANW SLB SNAP MGA MS CMG...

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE is looking very healthy again with Nasdaq in positive for 2020, all indices closed near high of the day. Retest of low crowd must lock themselves until October when there might be some kind of corrective action. TAPE looks so strong that it is hard to believe some of the % gains like 40% in 1 trading day like TWLO. Most software / cloud stocks are flying. Follow the TAPE, it is the real deal, rest is all talk.

BLOG does NOT give buy or sell.

Saleem

Wednesday, May 6, 2020

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2848.42, low 2847.65, high 2891.11

RSI @ 53.28

CMF @ 0.035

Internals were :

Down volume led by 4.38 to 1 in NYSE & .93 to 1 in Nasdaq

Declining stocks led by 2.31 to 1 in NYSE & 1.42 to 1 in Nasdaq

Net new 52 wk highs were leading by 7 in NYSE & 31 in Nasdaq

VIX UP 1.52% @ 34.12

Oil @ $23.99

Gold @ $1688.50

Canadian $ @ .5854

Portfolio..AAL CIEN CNX CLDR MGM MU SU

Stocks which were UP 1% or more included CLDR MU 
SEDG TER MSFT AAPL ROKU BIDU SHOP NKE
JKS SQ SPWR RUN XLNX BYND LULU TWLO
TSLA MTCH AMAT FFIV NFLX YY OSTK 
AMZN SWKS...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was up almost 200 DOW points but by close was down 200 DOW points, today's economic news was mixed bad jobs data but optimism over opening of business activity in many states. In the end mini overbought conditions got adjusted by closing near low of the day, that is the market we got 2 UP days then 1 down day.

BLOG does NOT give buy or sell.

Saleem

Tuesday, May 5, 2020

Indices closed UP .56% to 1.13%....NICE !!!!

Indices closed UP.

S&P 500 @ 2868.44, high 2898.23, low 2863.55

RSI @ 54.72

CMF @ 0.014

Internals were :

UP volume led by .92 to 1 in NYSE & 1.56 to 1 in Nasdaq

Advancing stocks led by 1.53 to 1 in NYSE & 1.18 to 1 in Nasdaq

Net new 52 wk highs were leading by 15 in NYSE & 34 in Nasdaq

Oil @ $24.56

Gold @ $1710.60

Canadian $ @ .5971

In my portfolio.... Sold DDOG @ $47.25

Portfolio AAL CIEN CNX CLDR MGM MU SU

Stocks which closed UP BY 1%+++ CIEN CNX CLDR MU 
DDOG SEDG JD KRA UPS MSFT AAPL SHOP DHI
SQ BYND TWLO NEM UBER LRCX SPLK AMAT
BABA GOOG PANW QRVO SNAP LVS MA OSTK
ULTA SWKS NKE V.....

AH SU reported a beat in EPS & Sales
Sales actual $7.39 billion beats by $10 million
EPS loss 20 cents actual vs loss of 22 cents expected
Cutting dividend by 50%
Conference call @ 730 AM

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strong from open but faded into close, indices closed green for the day, many sectors participated, technology was strong Cruise Lines were weakest plus Airlines remained weak.AH earnings are mostly strong from BYND & weak from PINS. Wednesday should be interesting to see IF we make 3 UP days in a row.

BLOG does NOT give buy or sell.

Saleem