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
17 comments:
Hi Stocktrader & Paramjeet,
Bought SPCE @ $15.35
Saleem
Hi Saleem,
I started the day on selling spree.
Sold ONEM at 37.59
Sold HCAT at 29
Sold ALT at 6.40 (Amazing run but fear secondary coming soon)
Took some off from PS and KRA
Trying to book and preserve profits.
Holding limited to
VIR CATS OPK SRNE LUV LVGO KRA MGM CNX EAT PS ELF HEPA AVYA ELY LITE
Happy Trading all!
Thanks
Paramjeet
Hi Saleem,
Good luck with SPCE - short interest is huge so maybe this share sale is the catalyst to cover as well as bargain hunters looking to enter for the long term.
Stocktrader
Hi Paramjeet,
You have played this market so well - congrats!
Good luck with the portfolio adjustments and nice diversification :)
Stocktrader
Hi Paramjeet,
Good luck with all the well earned $$$$
Saleem
Hi guys,
Sold LITE @ 75.11
The relative weakness and Huawei fears make it a tougher investment right now. I might shift into TER after ADI's results.
Stocktrader
Hi guys,
Sold ELF ~14.30 ahead of earnings
I'm not certain the future of the beauty industry, so I want to see the results and commentary first.
Stocktrader
Hi stocktrader,
Pruning IFFY stocks is a constant battle with all of us, some do it very quickly which always helps new strategy....
Good luck with ongoing analysis and next buys!
Saleem
Hi guys,
Sold ELY @ 14.44 to take profits
Stocktrader
Hi guys,
Sold SQ @ 81.97 to take profits
I am concerned about the near term loss of transactions due to subdued economic recovery.
Stocktrader
Good Luck with SPCE, Saleem. It seems to have oversold a lot and could be a turnaround play.
I sold ONEM too early and may get in if it backs down.
Good Sells, Stocktrader. What are your thoughts on BHVN?
Thanks
Paramjeet
Hi Paramjeet,
BHVN seems mostly fine, and their migraine drug is best in class based on what I've read, just don't have the marketing engine like their big competitor. I was optimstic about their nervous system disorder potential for a while, but I've tempered that, so it makes me think the stock is roughly fairly valued here but with takeover potential (and big upside if other trials work out positively of course).
Stocktrader
Hi Saleem,
Sadly sold HUYA @ 19.52 to take profits
I really wanted to hold for the long term, but the recent Senate actions make me nervous about institutional support and/or delisting.
Stocktrader
Hi Stocktrader,
YES....politics and economics can kill many things, good to be on the safe side by booking profit in HUYA and anything Chinese......
Saleem
Hi Saleem,
I added back ONEM at 38.75. Seeing a lot of interest buildup due to economy opening up. It will add to the revenue as patients apart from using digital services will be able to physically visit the brick-mortar sites.
Also started a small speculative position in a penny stock - XELB at 0.900. Q1 numbers came above analyst expectations today. E-commerce focus will help the company in tough times.
Thanks
Paramjeet
Hi Paramjeet,
Good luck with ONEM...
Saleem
I sold AVYA at 14.27 before the market close. The stock did hit 52 week high today but did not closed at the low of the day. I think the stock might sell off and consolidate until the next move.
Also bought NVAX at 52.79. Covid-19 vaccine trials advancement will carry this forward.
Thank you all for your valuable insights and comments.
Paramjeet
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