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
ReplyDeleteHi Stocktrader & Paramjeet,
Bought APA @ $11.628 in pre market.
Saleem
Hi Saleem,
ReplyDeleteGood luck with APA!
I think I'll try EAT now after the secondary.
Stocktrader
Hi Saleem,
ReplyDeleteGood luck with Apache- APA!!
Any comments on MGM? WYNN is getting good recommendations too.
Also, insights on Home Builder stocks will be great. HD and LOW may post good numbers as working from home triggered Home improvement projects.
Hi Stocktrader,
EAT secondary was a surprise. My stock sold off due to stoploss trigger. I do plan to re-enter EAT based upon the price action today.
Bought CLVS@8.11
Sold OPK
LVGO is through the roof!!
Thanks
Paramjeet
ReplyDeleteHi Paramjeet,
MGM was bought because price reflects all the issues casino industry is facing....
Thus it was a speculative buy!
Home builders stock price has moved up from bargain levels.....
Saleem
Hi Saleem,
ReplyDeleteBought EAT @ 19.12
Bought ELY @ 13.80
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with EAT & ELY
Saleem
Hi Saleem,
ReplyDeleteBought ALB @ 58.42
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with ALB
Saleem
Hi Saleem,
ReplyDeleteSold AKAM @ 100.32 to take profits
Stocktrader
Hi Paramjeet,
ReplyDeleteI think casinos will have some level of permanent impairment from the social distancing requirements and higher unemployment. They might be good for a re-opening bump here, but longer term questions remain. I think they also have plenty of debt? not sure. WYNN looks like the better of the two should you choose one. Also, DKNG with its "all online" setup looks interesting, although I think half the lure of gambling is a social experience (at least for casual players).
The housing market stocks still highly worry me as I think investors are underestimating the psychological impact from this crisis to delay large purchases, especially as the election looms also. I will say though that we just listed our house for sale this week and the appetite for showings is voracious. Despite this fact, I still think this situation is a residual desire from pre-crisis thoughts. As far as HD/LOW, they always seem like good "home improvement" plays, but have a significant portion of commercial business too, so it's not so easy.
Good luck with future decision and recent moves!
Stocktrader
Hi Saleem and Stocktrader,
ReplyDeleteThank you for your valuable insights on Housing and Casino sector respectively.
I sold PS@18 to book profits.
Thanks
Paramjeet
Hi Saleem,
ReplyDeleteBought SEDG @ 109.53
Solar exposure on a dip.
Stocktrader
ReplyDeleteHi Stocktrader,
I had SEDG on my buy list as of 2 days ago but wanted to see their earnings...which missed badly...thus your opportunity to buy in.....
Good luck !
Saleem
Hi guys,
ReplyDeleteThis is contrarianly super bullish: https://www.aaii.com/sentimentsurvey
Stocktrader
Hi Stocktrader,
ReplyDeleteLove contrary indicators...
Thanks for sharing!
Saleem
Hi guys,
ReplyDeleteLooks like I picked the wrong one - should have stayed in CWH vs ELY.
I guess camping is beating out golfing.
Stocktrader