Indices closed UP.
S&P 500 @ 3124.74, high 3153.45, low 3076.06
RSI @ 57.93
CMF @ 0.144
Internals were :
UP volume led by 5.32 to 1 in NYSE & 2.70 to 1 in Nasdaq
Advancing stocks led by 4.40 to 1 in NYSE & 3.02 to 1 in Nasdaq
Net new 52 wk highs were leading by 76 in NYSE & 123 in Nasdaq
VIX Down 2.12% @ 33.67
Oil @ $38.38
Gold @ $1736.50
Canadian $ @ .6431
In my portfolio :
Bought CCL @ $21 and $19.50 after hours, equal shares
Sold CGC @ $17.70
Portfolio AAL CCL CIEN CNX MGM SU
Stocks which were UP 2% or more included CCL CNX CGC
GOOS ROKU TOL APA DAL ERI GAN NTAP UBER JD
ENPH PINS CVX SQ MU SEDG TER AAPL BIDU DHI
BA IQ HUYA QCOM LRCX UAL BABA QRVO AMAT
LNG MA MS MSFT X M......
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was strong before open and closed near upper half. Retail sales gave tremendous boost to many stocks but most faded going into close. This is a difficult TAPE with furious sector rotation even during the day, most traders are not used to seeing strong stocks becomes weak and weak ones becomes strong by close. Stay on your toes and do try to book gains when you see it.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi guys,
Guess we know why the ENPH put activity now.
Stocktrader
Hi Stocktrader,
What is the news for ENPH?
Saleem
Prescience Point issues negative research report on Enphase Energy
Prescience Point Capital Management published a negative research report supporting its short position in shares of Enphase Energy. "Prescience Point has been closely scrutinizing Enphase for over two years and we believe the company's financial performance has become increasingly disconnected from reality since our initial reports were published in July 2018 and August 2018. Following our latest investigation, which included interviews of numerous former employees, we believe that Enphase's financial reports are not reliable, and that the 4,653% increase in its share price since CEO Badri Kothandaraman was promoted to CEO is unwarranted." "The explosive growth that Enphase has reported to investors over the last two years is nothing but a sham which has lined the pockets of those at the top of the company," said Eiad Asbahi, Founder and Portfolio Manager of Prescience Point. "We believe the evidence presented in our report will result in multiple government investigations, a major accounting restatement, shareholder lawsuits and a delisting of ENPH shares from the NASDAQ." "Our research suggests that at least 39%, or $205 million, of US revenue reported by the company is potentially fabricated, as is a significant portion of the company's international revenue. Multiple former employees in India independently told our private investigators that Enphase was fabricating figures it reports publicly, and that the company is using overseas operations to help executives perpetrate potential accounting violations. Our research also suggests that Enphase executives and board members, as well as its previous largest shareholder, likely learned of the existence of our private investigation. This is supported by the unprecedented number of shares these parties sold from late-May to mid-June, which is right around the time that our private investigation had wrapped up. Their timing and shear magnitude of sales appears to be a rush for the exits ahead of Enphase's coming downfall."
Hi Stocktrader
Thanks
Much appreciated!
Saleem
Hi guys,
Sold GH @ 78.89 on disappointing price action
Stocktrader
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