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
12 comments:
Hi Saleem,
Bought ACB @15.50 BA 6/19 150 calls for $7
Thanks
Explorer
Hi Explorer,
Good luck with ACB & BA calls!
Saleem
Hi Saleem,
Was gone this morning due to the new house closing and missed some opportunities. Looking at LOW AVYA LITE TER for buy potential. Hoping to get another dip later in the day.
Stocktrader
Hi Saleem,
To elaborate:
LOW had an incredible number yesterday with momentum that I think can continue for a while, allaying my fears of a commercial shortfall.
I'm more bullish on AVYA as I look more at the company. I think it has a long runway ahead, and the stock deserves a heavy dose of multiple expansion.
I saw an analyst note today on LITE that said the impact from Huawei should be very minimal. That gave me more confidence for the longer term story.
TER is still on my radar from yesterday after ADI's great report.
Stocktrader
Hi Saleem and Stocktrader,
I too agree with AVYA as a potential multi-bagger based on the ER and expansion reports. They have played the lockdown scenario well and played to gain more.
I added AVYA at 14.36
Also added
ALT @ 5.90
Sold PS at 20.67 to book profits.
Thanks
Paramjeet
Hi guys,
Bought AVYA @ 14.41
Bought LOW @ 119.88
Bought LITE @ 72.42
Bought TER @ 61.68
Stocktrader
Hi guys,
I am still struggling to find cloud software exposure at a decent price. I think I just need these stocks to do secondaries to have a chance...
Stocktrader
Hi Stocktrader & Paramjeet,
Good luck with your high comfort level buys & add on, was out shopping just got home.
Saleem
Hi StockTrader,
Good luck with your adds today. SPLK reports after hours, aren’t you considering that as a cloud exposure?
Explorer
Hi Explorer,
I flipped from SPLK to DDOG as my favorite some months ago, but I haven't been able to find a good entry point since it completely took off. DDOG is the all-in-one cloud native solution that should eat away at SPLK and NEWR and anything else that's single product or non-cloud native. That said, many analysts are still impressed with SPLK's prospects for the upcoming year.
Stocktrader
Hi StockTrader,
Thanks for the insights on SPLK and DDOG. AH SPLK is up slightly, I thought the report isn’t good. The revenue and the guidance were bad. Do you read anything better in the report? I am looking to short it in the morning.
Thanks,
Explorer
Hi Explorer,
The stock turned around during the conference call, so I assume they talked up their recurring revenue increases or something. Analysts will tell us more tomorrow. I was trying to get into NVDA's conference call but it was full - never had that happen before...
Stocktrader
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