Indices closed UP.
S&P 500 @ 3053.24, high 3053.89, low 2999.74
RSI @ 49.82
CMF @ 0.055
Internals were :
UP volume led by 5.81 to 1 in NYSE & 2.66 to 1 in Nasdaq
Advancing stocks led by 3.02 to 1 in NYSE & 1.96 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & 64 in Nasdaq
VIX Down 8.49% @ 31.78
Oil @ $39.70
Gold @ $1781.20
Canadian $ @ .6311
In my portfolio :
Added 15% SU @ $16.74
Added 70% APA @ $13.35
Portfolio AAL APA CCL MGM SU
Stocks which were UP 4% or more included AAL CCL MGM SU
GAN TOL DAL ERI KBH ENPH JKS NVAX SEDG EAT KRA
NCLH BA VICR RUN MOMO TSLA UAL EXPE WYNN
M ULTA......
AH Futures UP
AH Asian Market Mixed
AH Oil Down
AH Gold UP
About market, TAPE surprised most traders when it opened higher and never looked back, Indices closed @ high of the day, logical question is why, there were too many portfolio Managers were waiting for a 2 day pullback and were ready to deploy funds in equities. Buying begets buying and everyone piled in near close. Chinese PMI came in above expectations @ 50.9% vs expected 50.4% another boost to this rally and futures reflecting that.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Paramjeet,
If memory serves, TZA in July has a pretty good track record, although the first few days see month/quarter positive flows. Good luck with the trade!
Stocktrader
Hi Saleem & Stocktrader,
I sold TZA @ 22.25 earlier in the day after seeing TAPE strength on the overall trading landscape. Market is relentless and not giving up. Will wait for lower entry for TZA to hedge.
Sold 30% ALT @ 10.44
Bought PS @ 17.41
Added 20% DKNG @ 33.18
Paramjeet
Hi Paramjeet,
Good luck with PS & more more more DKNG....
Saleem
Hi Paramjeet,
Good luck on continuing adjustments. The market seems harder to read right now.
Stocktrader
Hi Guys,
LITE seem to be doing very well during the first half but last I checked, it faded. Your thoughts on this stock in much appreciated.
Thanks
Paramjeet
Hi Paramjeet,
I think everyone was a little surprised how bad LITE's Q2 guidance looked compared to some peers, so the strong resilience during the peak of the pandemic didn't see much follow-through to the upside. XLNX's commentary last night about relaxed restrictions to shipping into China I think helped sentiment today, but then we got more Huawei news as the day progressed.
Bottom line, I think it should be a good long term story as things normalize, but their business seems more impacted than many other tech stocks in the interim.
Stocktrader
Hi Guys,
Thank you Stocktrader for sharing insights and thoughts on LITE. I would wait to see how LITE trades in the next few days to pull the trigger.
Bought TZA @ 21.24
Sold ELY @ 17.60
Sold BLPH @ 12.56
Thanks
Paramjeet
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