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
6 comments:
Hi guys,
I think SAIL has potential here after OKTA's numbers weren't as impressive as I expected. It makes SAIL's quarter reported earlier this month that much better, and with the much more reasonable valuation should have upside and always the takeout potential due to size. I still always fear a big player could easily create a workable solution in the same space that they might offer for significant discount though. Just some thoughts...
Stocktrader
Hi Stocktrader,
Thanks for your comparative analysis with edge for SAIL.
Saleem
Hi Guys,
Added KRA on the pullback @15.60.
Today is the last trading day for May 2020. The markets surprised a lot of Pundits by moving on the upside when a lot of negativity was all over the place.
Personally, I see market moving to an all time high in June as money in the sidelines will start moving in to catch up before market goes much higher. On the flip side, there is always a risk of macro-economic factors, unemployment etc.
I also feel that US government will come out with infrastructure funding for trillion of dollars and generate job opportunities soon.
CAT and other infra stocks will benefit.
Thanks
Paramjeet
Hi Paramjeet,
Good luck with KRA....
Good analysis of what may / possibly happens....
Future is not ours to see....but anticipate....
Saleem
Hi Paramjeet/Saleem,
Good luck with KRA!
Bought SAIL @ 22.99
I keep waiting for DKNG to drop and it just won't, so I went to a backup plan that might have short term potential.
Stocktrader
Hi guys,
If the phase one trade deal still on, I probably should have bought a chip stock back with that last position.
Stocktrader
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