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
17 comments:
Hi Saleem,
Swapped FSLR @ 45.90 for SEDG @ 136.93
I decided I did want some alternative energy exposure and I think I like SEDG the most at these levels.
Stocktrader
Hi Stocktrader,
SEDG behaved much better lately..showing unusual strength...good swap!
Saleem
Hi Stocktrader,
Sold TLRY @ $11.35
Saleem
Stocktrader,
Sold SPCE @ $16.95
Saleem
Good Morning Folks,
Nice trades already..
ELY, KRA, EAT are seeing pull-backs. I am planning to enter if the price is right. Comments welcome.
Thanks
Paramjeet
Hi Saleem,
Sold LITE @ 74.59 to reduce potential Chinese exposure
Stocktrader
Hi Saleem,
Good luck with new deployments!
Stocktrader
Hi Paramjeet,
I feel like ELY has the most potential of that list. I listened to that conference call at the time and felt like they were being highly conservative with forecasting, and some of their problem was supply constraints due to non-essential classification. Golf continues to feel like a large beneficiary here, but the capital raise dampens a little of the upside.
KRA is probably about fairly valued, and I worry that the chemicals space will continue to see outflows over time as ESG funds/investors stay away. Plus, oil could be highly volatile in either direction which makes the trade harder.
I don't see how EAT regains profitability levels with in-room dining still constrained for quite a while, and with the recent large secondary. I'd be cautious here.
Stocktrader
Hi Saleem,
Sold NXPI @ 102.51 on relative weakness
I don't want to be this underexposed to semis, but the price action is pretty terrible.
Stocktrader
Hi Stocktrader,
YES...some stocks are not having sustainable moves.....
Good luck with your next picks.....
I am still not sure what to buy.....nice problem to have.....
Saleem
Hi Saleem,
Bought ELY @ 15.67
I needed a little more consumer exposure and felt this was a good play.
Stocktrader
Hi Stocktrader,
Good luck with ELY.....
Saleem
Hi guys,
I really didn't realize how small ELF is. Gaining market share can probably propel the stock for a while even if the beauty category has permanently shrank somewhat. I'll be looking on pullbacks possibly.
Stocktrader
Hi Stocktrader,
Thank you for your comments on the potential stocks. It is much appreciated.
Good luck with your SEDG and ELY
Thanks
Paramjeet
Hi guys,
If the ACIA buyout falls apart due to lack of Chinese approval (as rumors are starting to circulate), I think it's probably a great buy on the dip. I haven't closely looked at it yet, but that's my instinct based on their business lines having likely ramped since the acquisition was announced.
Stocktrader
Hi Stocktrader,
Added 250% AAL @ $11.14
Added 150% MGM @ $17.50
Saleem
Hi Saleem,
Good luck on adds!
Stocktrader
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