Wednesday, May 27, 2020

Indices closed UP .77% to 2.21%...NICE !!!!

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
at

17 comments:

  1. stocktrader_1996May 28, 2020 at 6:47 AM

    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

    ReplyDelete
  2. Stocks100May 28, 2020 at 6:53 AM


    Hi Stocktrader,

    SEDG behaved much better lately..showing unusual strength...good swap!

    Saleem

    ReplyDelete
  3. Stocks100May 28, 2020 at 7:18 AM

    Hi Stocktrader,

    Sold TLRY @ $11.35

    Saleem

    ReplyDelete
  4. Stocks100May 28, 2020 at 7:22 AM

    Stocktrader,

    Sold SPCE @ $16.95

    Saleem

    ReplyDelete
  5. psrajpalMay 28, 2020 at 7:25 AM

    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

    ReplyDelete
  6. stocktrader_1996May 28, 2020 at 7:45 AM

    Hi Saleem,

    Sold LITE @ 74.59 to reduce potential Chinese exposure

    Stocktrader

    ReplyDelete
  7. stocktrader_1996May 28, 2020 at 7:45 AM

    Hi Saleem,

    Good luck with new deployments!

    Stocktrader

    ReplyDelete
  8. stocktrader_1996May 28, 2020 at 7:53 AM

    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

    ReplyDelete
  9. stocktrader_1996May 28, 2020 at 8:03 AM

    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

    ReplyDelete
  10. Stocks100May 28, 2020 at 8:09 AM


    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

    ReplyDelete
  11. stocktrader_1996May 28, 2020 at 8:55 AM

    Hi Saleem,

    Bought ELY @ 15.67

    I needed a little more consumer exposure and felt this was a good play.

    Stocktrader

    ReplyDelete
  12. Stocks100May 28, 2020 at 9:06 AM


    Hi Stocktrader,

    Good luck with ELY.....

    Saleem

    ReplyDelete
  13. stocktrader_1996May 28, 2020 at 9:21 AM

    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

    ReplyDelete
  14. psrajpalMay 28, 2020 at 10:20 AM

    Hi Stocktrader,

    Thank you for your comments on the potential stocks. It is much appreciated.

    Good luck with your SEDG and ELY

    Thanks

    Paramjeet

    ReplyDelete
  15. stocktrader_1996May 28, 2020 at 10:33 AM

    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

    ReplyDelete
  16. Stocks100May 28, 2020 at 12:36 PM

    Hi Stocktrader,

    Added 250% AAL @ $11.14

    Added 150% MGM @ $17.50

    Saleem

    ReplyDelete
  17. stocktrader_1996May 28, 2020 at 1:02 PM

    Hi Saleem,

    Good luck on adds!

    Stocktrader

    ReplyDelete