Indices closed UP in a wild session, UP open Down whole day and then closed @ high of the day. Internals were all negative to my surprise. All this despite AAPL FB & AMZN had outstanding earnings plus PINS.
S&P 500 @ 3271.12, high 3272.17, low 3220.26
RSI @ 61.03
CMF @ 0.318
Internals were :
Down volume led by 1.75 to 1 in NYSE & 1.01 to 1 in Nasdaq
Declining stocks led by 1.40 to 1 in NYSE & 1.94 to 1 in Nasdaq
Net new 52 wk highs were leading by 124 in NYSE & Nasdaq
VIX Down 1.21% @ 24.46
Oil @ $40.27
Gold @ $1985.90
Canadian $ @ .6611
In my portfolio Sold QRVO @ $126.96
Stocks which closed green included NXPI SQ NEM
DOCU ZI CNX KL ROKU CIEN CRWD AG UPS
PINS LITE AAPL NKE MRVL WB BYND BZUN
TWLO FB AEM AMZN CRUS OLED PANW
YY IQ MSFT SWKS CMG.....
Here is portfolio weighting @ 70% exposure :
MGM 36.14%
AAL 26.66%
SU 22.69%
CCL 14.01%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, July 31, 2020
Thursday, July 30, 2020
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 3246.22, low 3204.13, high 3250.92
RSI @ 58.35
CMF @ 0.227
Internals were :
Down volume led by 3.52 to 1 in NYSE & .86 to 1 in Nasdaq
Declining stocks led by 1.89 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 117 in NYSE & 103 in Nasdaq
VIX UP 2.74% @ 24.76
Oil @ $39.92
Gold @ $1942.30
Canadian $ @ .6556
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included MGM QRVO APA
AMD DOCU DDOG LITE UPS QCOM XLNX AEM LRCX
CRUS YELP LVS OSTK SWKS.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE closed mixed but still managed to close near high of the day, Nasdaq was green till end. After hour AAPL AMZN & FB came out with stunning earnings despite COVID-19 worldwide economic conditions which probably worked in their favor. Friday should take indices further into bullish mode.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3246.22, low 3204.13, high 3250.92
RSI @ 58.35
CMF @ 0.227
Internals were :
Down volume led by 3.52 to 1 in NYSE & .86 to 1 in Nasdaq
Declining stocks led by 1.89 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 117 in NYSE & 103 in Nasdaq
VIX UP 2.74% @ 24.76
Oil @ $39.92
Gold @ $1942.30
Canadian $ @ .6556
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included MGM QRVO APA
AMD DOCU DDOG LITE UPS QCOM XLNX AEM LRCX
CRUS YELP LVS OSTK SWKS.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE closed mixed but still managed to close near high of the day, Nasdaq was green till end. After hour AAPL AMZN & FB came out with stunning earnings despite COVID-19 worldwide economic conditions which probably worked in their favor. Friday should take indices further into bullish mode.
BLOG does NOT give buy or sell.
Saleem
Wednesday, July 29, 2020
Indices closed UP .61% to 1.35%...NICE !!!!
Indices closed UP.
S&P 500 @ 3258.44, high 3264.74, low 3227.22
RSI@ 60.24
CMF @ 0.191
Internals were :
UP volume led by 3.06 to 1 in NYSE & 1.50 to 1 in Nasdaq
Advancing stocks led by 3.96 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 179 in NYSE & 101 in Nasdaq
VIX Down 5.27% @ 24.10
Oil @ $41.27
Gold @ $1953.40
Canadian $ @ .6626
In my portfolio :
In after hour....Sold APA @ $15.50, Bought QRVO @ $123.00
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included APA CCL MGM
CLDR NXPI AMD SQ PENN NIO DOCU DKNG SHOP
CNQ CIEN TOL MTCH HST CRWD DDOG EAT KRA
VICR MOMO XLNX TSM TWLO LRCX OXY FEYE
WYNN OSTK ULTA CMG X......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near high of the day, AMD led rally gave a boost to most sectors. AH earnings are mostly strong by QCOM QRVO APA and many other stocks. Internals were healthy & positive all over. Fed policy statement & Q&A was extremely bullish near term for stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3258.44, high 3264.74, low 3227.22
RSI@ 60.24
CMF @ 0.191
Internals were :
UP volume led by 3.06 to 1 in NYSE & 1.50 to 1 in Nasdaq
Advancing stocks led by 3.96 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 179 in NYSE & 101 in Nasdaq
VIX Down 5.27% @ 24.10
Oil @ $41.27
Gold @ $1953.40
Canadian $ @ .6626
In my portfolio :
In after hour....Sold APA @ $15.50, Bought QRVO @ $123.00
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included APA CCL MGM
CLDR NXPI AMD SQ PENN NIO DOCU DKNG SHOP
CNQ CIEN TOL MTCH HST CRWD DDOG EAT KRA
VICR MOMO XLNX TSM TWLO LRCX OXY FEYE
WYNN OSTK ULTA CMG X......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near high of the day, AMD led rally gave a boost to most sectors. AH earnings are mostly strong by QCOM QRVO APA and many other stocks. Internals were healthy & positive all over. Fed policy statement & Q&A was extremely bullish near term for stocks.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 28, 2020
Indices closed down .65% to 1.27%....
Indices closed down
S&P 500 @ 3218.44, low 3216.17, high 3243.72
RSI @ 55.89
CMF @ 0.193
Internals were :
Down volume led by 1.18 to 1 in NYSE & 1.00 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.97 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 48 in Nasdaq
VIX UP 2.83% @ 25.44
Oil @ $41.04
Gold @ $1944.60
Canadian $ @ .6631
Portfolio AAL APA CCL MGM SU
Stocks which were UP 3% or more included AAL CCL MGM
DADA NIO CNX CGC MTCH TLRY CRON APHA NVAX
NCLH WYNN M.......
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE closed near low of the day, internals were weak. Gold keeps making new all time highs. Race for COVID-19 vaccine continues all over the world, there are about 50 drug companies in this challenging race to create much needed vaccine. After hours AMD guiding well above consensus and was rewarded with a new all time high. Tomorrow its all about testimony by FB, GOOG, AMZN, TWTR head honcho and Fed meeting statement @ 2 PM, no surprise expected anywhere.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3218.44, low 3216.17, high 3243.72
RSI @ 55.89
CMF @ 0.193
Internals were :
Down volume led by 1.18 to 1 in NYSE & 1.00 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.97 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 48 in Nasdaq
VIX UP 2.83% @ 25.44
Oil @ $41.04
Gold @ $1944.60
Canadian $ @ .6631
Portfolio AAL APA CCL MGM SU
Stocks which were UP 3% or more included AAL CCL MGM
DADA NIO CNX CGC MTCH TLRY CRON APHA NVAX
NCLH WYNN M.......
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE closed near low of the day, internals were weak. Gold keeps making new all time highs. Race for COVID-19 vaccine continues all over the world, there are about 50 drug companies in this challenging race to create much needed vaccine. After hours AMD guiding well above consensus and was rewarded with a new all time high. Tomorrow its all about testimony by FB, GOOG, AMZN, TWTR head honcho and Fed meeting statement @ 2 PM, no surprise expected anywhere.
BLOG does NOT give buy or sell.
Saleem
Monday, July 27, 2020
Indices closed up .43% to 1.67%....NICE !!!!
Indices closed UP.
S&P 500 @ 3239.41, high 3241.43, low 3214.25
RSI @ 59.03
CMF @ 0.280
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by 1.66 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 55 in Nasdaq
VIX Down 4.26% @ 24.74
Oil @ $41.60
Gold @ $1931.00
Canadian $ @ .6619
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included NXPI SNAP SQ AUX
GOLD NEM DOCU SHOP KL ROKU CIEN CGC TOL MTCH
ZM CRWD NTAP DDOG KBH TLRY CRON ENPH AG MU
NVAX SEDG MRNA TER AAPL DHI PHM JKS RUN QCOM
LULU TSM TSLA LRCX CSIQ OLED SWKS....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE closed near high of the day, Gold made a new all time high and a brand new intraday high also. Earnings reaction so far has been " sell the news ". Keep an eye on internals which is so so and also IF stocks are making new all time highs, that too is missing these days. It is called " churn near highs "
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3239.41, high 3241.43, low 3214.25
RSI @ 59.03
CMF @ 0.280
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by 1.66 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 55 in Nasdaq
VIX Down 4.26% @ 24.74
Oil @ $41.60
Gold @ $1931.00
Canadian $ @ .6619
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included NXPI SNAP SQ AUX
GOLD NEM DOCU SHOP KL ROKU CIEN CGC TOL MTCH
ZM CRWD NTAP DDOG KBH TLRY CRON ENPH AG MU
NVAX SEDG MRNA TER AAPL DHI PHM JKS RUN QCOM
LULU TSM TSLA LRCX CSIQ OLED SWKS....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE closed near high of the day, Gold made a new all time high and a brand new intraday high also. Earnings reaction so far has been " sell the news ". Keep an eye on internals which is so so and also IF stocks are making new all time highs, that too is missing these days. It is called " churn near highs "
BLOG does NOT give buy or sell.
Saleem
Sunday, July 26, 2020
Challenging week ahead in US market.....
Coming week is extremely challenging when major technology companies are reporting.
NXPI on Monday
AMD & EBAY on Tuesday
FB PYPL QCOM SHOP on Wednesday
AAPL AMZN GOOG MGM on Thursday
As you can see from the above list, most of the above stocks have made series of new all time highs and are extremely vulnerable. most have been rewarded with one time upgrades or additional hardware due to work from home because of COVID-19.
I expect most of them to beat expectations by a wide margin.
Guidance may not be as rosy, that is where I think stocks may give some recent gains.
There has been too much euphoria given an unfortunate impact due to Corona Virus.
Impact has been extremely positive for few groups and devastation for other groups.
As far as COVID-19 is concerned, it is in neutral mode in terms of positive & negative.
Stocks has to earn multiples going forward.
Earnings may not be the catalysts as everything may be priced in.
We need a digestive / pullback phase for many many stocks which has created trading genius in some traders.
Markets have seen many gurus, whose time comes and goes with each cycle.
I am expecting difficult and challenging time for many stocks after earnings, thus it will be wise to lock any gains before it evaporates, in some cases, it is coming out of thin air.
Until next earnings report, it may be a very dull and boring market for many traders, no more 10% move every morning in same sector.
Market has been very good and predictable which is extremely unusual in normal trading.
For those who may not be aware, long term average gain in S&P 500 is around 8% annually. So be happy IF you are beating this by 2000%.....
Good luck with your thesis about market going forward.
BLOG does NOT give buy or sell.
Saleem
NXPI on Monday
AMD & EBAY on Tuesday
FB PYPL QCOM SHOP on Wednesday
AAPL AMZN GOOG MGM on Thursday
As you can see from the above list, most of the above stocks have made series of new all time highs and are extremely vulnerable. most have been rewarded with one time upgrades or additional hardware due to work from home because of COVID-19.
I expect most of them to beat expectations by a wide margin.
Guidance may not be as rosy, that is where I think stocks may give some recent gains.
There has been too much euphoria given an unfortunate impact due to Corona Virus.
Impact has been extremely positive for few groups and devastation for other groups.
As far as COVID-19 is concerned, it is in neutral mode in terms of positive & negative.
Stocks has to earn multiples going forward.
Earnings may not be the catalysts as everything may be priced in.
We need a digestive / pullback phase for many many stocks which has created trading genius in some traders.
Markets have seen many gurus, whose time comes and goes with each cycle.
I am expecting difficult and challenging time for many stocks after earnings, thus it will be wise to lock any gains before it evaporates, in some cases, it is coming out of thin air.
Until next earnings report, it may be a very dull and boring market for many traders, no more 10% move every morning in same sector.
Market has been very good and predictable which is extremely unusual in normal trading.
For those who may not be aware, long term average gain in S&P 500 is around 8% annually. So be happy IF you are beating this by 2000%.....
Good luck with your thesis about market going forward.
BLOG does NOT give buy or sell.
Saleem
Friday, July 24, 2020
Indices closed down .62% to .94%.....
Indices closed down with technology stocks under selling pressure, AMD was the rare beneficiary of INTC trouble. Gold made a new all time high today. Gold & Silver stocks were strong.
S&P 500 @ 3215.63, low 3200.05, high 3227.26
RSI @ 56.45
CMF @ 0.157
Internals were :
Down volume led by 2.16 to 1 in NYSE & 1.58 to 1 in Nasdaq
Declining stocks led by 1.91 to 1 in NYSE & 2.77 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 17 in Nasdaq
VIX Down .92% @ 25.84
Oil @ $41.29
Gold @ $1897.50
Canadian $ .6566
Stocks which closed green included AMD PENN AUY
GOLD NEM DKNG CNX KL CIEN TOL EAT PHM
VICR WB TSM AEM NVDA SHOP.......
Here is my portfolio weighting :
MGM 32.43%
AAL 23.62%
SU 20.78%
CCL 12.93%
APA 10.24%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3215.63, low 3200.05, high 3227.26
RSI @ 56.45
CMF @ 0.157
Internals were :
Down volume led by 2.16 to 1 in NYSE & 1.58 to 1 in Nasdaq
Declining stocks led by 1.91 to 1 in NYSE & 2.77 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 17 in Nasdaq
VIX Down .92% @ 25.84
Oil @ $41.29
Gold @ $1897.50
Canadian $ .6566
Stocks which closed green included AMD PENN AUY
GOLD NEM DKNG CNX KL CIEN TOL EAT PHM
VICR WB TSM AEM NVDA SHOP.......
Here is my portfolio weighting :
MGM 32.43%
AAL 23.62%
SU 20.78%
CCL 12.93%
APA 10.24%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, July 23, 2020
Indices closed down 1.23% to 2.29%.....
Indices closed down.
S&P 500 @ 3235.66, low 3222.66, high 3279.99
RSI @ 59.38
CMF @ 0.198
Internals were :
Down volume led by 1.41 to 1 in NYSE & 1.26 to 1 in Nasdaq
Declining stocks led by 1.16 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 207 in NYSE & 122 in Nasdaq
VIX UP 7.24% @ 26.08
Oil @ $41.07
Canadian $ @ .6626
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included AAL
TWTR CNX DAL TLRY MU EAT KRA PHM
JKS SPWR RUN UAL FSLR CLVS LNG M..
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE saw its first serious profit taking in high growth popular technology names, this may be one day wonder and may come back roaring. Laggards like Airlines also participated on better than expected losses, it is all about burn rate. Friday may bring interest in most stocks, laggards & high flying technology.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3235.66, low 3222.66, high 3279.99
RSI @ 59.38
CMF @ 0.198
Internals were :
Down volume led by 1.41 to 1 in NYSE & 1.26 to 1 in Nasdaq
Declining stocks led by 1.16 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 207 in NYSE & 122 in Nasdaq
VIX UP 7.24% @ 26.08
Oil @ $41.07
Canadian $ @ .6626
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included AAL
TWTR CNX DAL TLRY MU EAT KRA PHM
JKS SPWR RUN UAL FSLR CLVS LNG M..
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE saw its first serious profit taking in high growth popular technology names, this may be one day wonder and may come back roaring. Laggards like Airlines also participated on better than expected losses, it is all about burn rate. Friday may bring interest in most stocks, laggards & high flying technology.
BLOG does NOT give buy or sell.
Saleem
Wednesday, July 22, 2020
Indices closed UP .24% to .62%....NICE !!!!
Indices closed UP.
S&P 500 @ 3276.02, high 3279.32, low 3253.10
RSI @ 65.76
CMF @ 0.190
Internals were :
UP volume led by 1.53 to 1 in NYSE & 1.11 to 1 in Nasdaq
Advancing stocks led by 1.57 to 1 in NYSE & .86 to 1 in Nasdaq
Net new 52 wk highs were leading by 220 in NYSE & 107 in Nasdaq
VIX Down 2.09% @ 24.32
Oil @ $41.90
Gold @ $1865.10
Canadian $ @ .6588
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included AMD SQ DOCU
TOL LYFT KBH ENPH SEDG RUN NVAX CLDR MRNA
EAT MSFT DHI PHM ASML NVDA MCD TSLA FEYE
AEM OLED QRVO MA OSTK ULTA CMG LRCX V....
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE closed UP near high of the day, leaders did well today and housing numbers boosted builders. Internals were OK. After hours action was mixed with MSFT & LVS in negative mode while TSLA jumped. More important earnings tomorrow which may decide the direction of this market.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3276.02, high 3279.32, low 3253.10
RSI @ 65.76
CMF @ 0.190
Internals were :
UP volume led by 1.53 to 1 in NYSE & 1.11 to 1 in Nasdaq
Advancing stocks led by 1.57 to 1 in NYSE & .86 to 1 in Nasdaq
Net new 52 wk highs were leading by 220 in NYSE & 107 in Nasdaq
VIX Down 2.09% @ 24.32
Oil @ $41.90
Gold @ $1865.10
Canadian $ @ .6588
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included AMD SQ DOCU
TOL LYFT KBH ENPH SEDG RUN NVAX CLDR MRNA
EAT MSFT DHI PHM ASML NVDA MCD TSLA FEYE
AEM OLED QRVO MA OSTK ULTA CMG LRCX V....
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE closed UP near high of the day, leaders did well today and housing numbers boosted builders. Internals were OK. After hours action was mixed with MSFT & LVS in negative mode while TSLA jumped. More important earnings tomorrow which may decide the direction of this market.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 21, 2020
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 3257.30, high 3277.29, low 3247.77
RSI @ 64.10
CMF @ 0.119
Internals were :
UP volume led by 4.38 to 1 in NYSE & 2.13 to 1 in Nasdaq
Advancing stocks led by 3.22 to 1 in NYSE & 1.58 to 1 in Nasdaq
Net new 52 wk highs were leading by 251 in NYSE & 179 in Nasdaq
VIX UP 1.55% @ 24.84
Oil @ $41.96
Gold @ $1843.90
Canadian $ .6554
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA MGM SU
PENN DKNG CNQ GAN CNX KL CVX EAT KRA NKE
BA YY OXY SLB LNG NTNX MOMO X M TLRY....
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE ended mixed today with Nasdaq stocks took a well deserved breather, Oil & Gold was UP so were the stocks. Casinos cruise lines joined in a mini rally. Airlines saw green in most. Hopefully overnight stats of infection / death in USA may show relatively less aggressive number. President Trump also wearing mask and claiming it is a sign of patriotic American. Internals were much better today.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3257.30, high 3277.29, low 3247.77
RSI @ 64.10
CMF @ 0.119
Internals were :
UP volume led by 4.38 to 1 in NYSE & 2.13 to 1 in Nasdaq
Advancing stocks led by 3.22 to 1 in NYSE & 1.58 to 1 in Nasdaq
Net new 52 wk highs were leading by 251 in NYSE & 179 in Nasdaq
VIX UP 1.55% @ 24.84
Oil @ $41.96
Gold @ $1843.90
Canadian $ .6554
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA MGM SU
PENN DKNG CNQ GAN CNX KL CVX EAT KRA NKE
BA YY OXY SLB LNG NTNX MOMO X M TLRY....
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE ended mixed today with Nasdaq stocks took a well deserved breather, Oil & Gold was UP so were the stocks. Casinos cruise lines joined in a mini rally. Airlines saw green in most. Hopefully overnight stats of infection / death in USA may show relatively less aggressive number. President Trump also wearing mask and claiming it is a sign of patriotic American. Internals were much better today.
BLOG does NOT give buy or sell.
Saleem
Monday, July 20, 2020
Indices closed UP .03% to 2.51%...NICE!!!!
Indices closed UP.
S&P 500 @ 3251.84, high 3258.61, low 3215.16
RSI @ 63.62
CMF @ 0.176
Internals were :
UP volume led by .71 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by .92 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 208 in NYSE & 163 in Nasdaq
VIX Down 4.75% @ 24.46
Oil @ $40.81
Gold @ $1817.40
Canadian $ .6465
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA
AMD SQ AUY ZI PLAN SHOP MTCH ZM TER
CRWD DDOG PINS TWTR MSFT AAPL JKS
SPWR LULU NVDA TWLO TSLA AMZN
SPLK GOOG PANW SNAP RUN OSTK.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE was strong in Nasdaq & S&P 500 and closed near high of the day, DOW struggled to stay green and internals reflected that which means weak in DOW stocks and OK in Nasdaq. Earnings are coming in better than expected on day 1 which reflected reduced expectations and better management of business, even IBM is beating numbers.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3251.84, high 3258.61, low 3215.16
RSI @ 63.62
CMF @ 0.176
Internals were :
UP volume led by .71 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by .92 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 208 in NYSE & 163 in Nasdaq
VIX Down 4.75% @ 24.46
Oil @ $40.81
Gold @ $1817.40
Canadian $ .6465
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA
AMD SQ AUY ZI PLAN SHOP MTCH ZM TER
CRWD DDOG PINS TWTR MSFT AAPL JKS
SPWR LULU NVDA TWLO TSLA AMZN
SPLK GOOG PANW SNAP RUN OSTK.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE was strong in Nasdaq & S&P 500 and closed near high of the day, DOW struggled to stay green and internals reflected that which means weak in DOW stocks and OK in Nasdaq. Earnings are coming in better than expected on day 1 which reflected reduced expectations and better management of business, even IBM is beating numbers.
BLOG does NOT give buy or sell.
Saleem
Sunday, July 19, 2020
Indices all set to rally....
Last week was digestive phase for market where Nasdaq rested and pulled back along with SOX.
Market was adjusting to highest rate of infection in Florida and other states where infection has spiked UP resulting in closure of many planned openings.
California, Texas, Colorado and many states are struggling with COVID-19 issues.
Earnings are going to be a catalyst to market...
Nasdaq & SOX went sideways last week and are all looking to make new all time highs
Microsoft & Tesla reporting on Wednesday which may give very strong close for the week.
S&P 500 is only 4.97% away from making new all time highs, it should make major progress towards that goal this week.
Nasdaq big guns rested or pulled back last week, which was very healthy.
Vaccine news is a daily phenomenon, overall markets are not reacting to it, it is only becoming stock news or sector news.
TSLA technicals are very strong and many technicians are highlighting for option play into earning, could 2000 be in the cards.......
Microsoft which also reports on Wednesday is a much more steady as she goes play. A very long term hold.
United Airlines reports on Tuesday may be a tell tale of what is inside the head of CEO as to how they will manage through this sudden spike.
American Airlines the cheapest play for daytraders reports on Thursday, biggest speculative play in airline industry.
TXN reports on Tuesday bell weather for technology.
SWKS reports on Thursday, may spark a rally for SOX....
SO lot to look forward to this week, but trend is UP.
Good luck with your own thesis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Market was adjusting to highest rate of infection in Florida and other states where infection has spiked UP resulting in closure of many planned openings.
California, Texas, Colorado and many states are struggling with COVID-19 issues.
Earnings are going to be a catalyst to market...
Nasdaq & SOX went sideways last week and are all looking to make new all time highs
Microsoft & Tesla reporting on Wednesday which may give very strong close for the week.
S&P 500 is only 4.97% away from making new all time highs, it should make major progress towards that goal this week.
Nasdaq big guns rested or pulled back last week, which was very healthy.
Vaccine news is a daily phenomenon, overall markets are not reacting to it, it is only becoming stock news or sector news.
TSLA technicals are very strong and many technicians are highlighting for option play into earning, could 2000 be in the cards.......
Microsoft which also reports on Wednesday is a much more steady as she goes play. A very long term hold.
United Airlines reports on Tuesday may be a tell tale of what is inside the head of CEO as to how they will manage through this sudden spike.
American Airlines the cheapest play for daytraders reports on Thursday, biggest speculative play in airline industry.
TXN reports on Tuesday bell weather for technology.
SWKS reports on Thursday, may spark a rally for SOX....
SO lot to look forward to this week, but trend is UP.
Good luck with your own thesis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, July 17, 2020
Indices closed mixed.....
Indices closed mixed on rising COVID-19 report from US and few countries around the world. DOW was the lone loser. VIX tumbled to lowest close in a while.
S&P 500 @ 3224.73, high 3233.52, low 3205.65
RSI @ 61.24
CMF @ 0.087
Internals were :
UP volume led by .86 to 1 in NYSE & 2.05 to 1 in Nasdaq
Advancing stocks led by 1.43 to 1 in NYSE & 1.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 149 in NYSE & 109 in Nasdaq
VIX Down 8.29% @ 25.68
Oil @ $40.59
Gold @ $1810.00
Canadian $ @ .6424
Stocks which closed green bu 1% or more included AMD SQ
GOLD NEM DOCU ZI GAN KL CIEN CRWD ESTC NTAP
DDOG ENPH JD APHA PINS NVAX LITE SEDG MRNA
DHI PHM VICR JKS XLNX LULU TWLO AEM FEYE
FSLR CSIQ OLED QRVO CLVS OSTK SWKS CMG
PANW......
Here is my portfolio weighting :
MGM 33.36%
AAL 23.88%
SU 20.43%
CCL 13.07
APA 9.26%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3224.73, high 3233.52, low 3205.65
RSI @ 61.24
CMF @ 0.087
Internals were :
UP volume led by .86 to 1 in NYSE & 2.05 to 1 in Nasdaq
Advancing stocks led by 1.43 to 1 in NYSE & 1.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 149 in NYSE & 109 in Nasdaq
VIX Down 8.29% @ 25.68
Oil @ $40.59
Gold @ $1810.00
Canadian $ @ .6424
Stocks which closed green bu 1% or more included AMD SQ
GOLD NEM DOCU ZI GAN KL CIEN CRWD ESTC NTAP
DDOG ENPH JD APHA PINS NVAX LITE SEDG MRNA
DHI PHM VICR JKS XLNX LULU TWLO AEM FEYE
FSLR CSIQ OLED QRVO CLVS OSTK SWKS CMG
PANW......
Here is my portfolio weighting :
MGM 33.36%
AAL 23.88%
SU 20.43%
CCL 13.07
APA 9.26%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, July 16, 2020
Indices closed down .34% to .73%.....
Indices closed down.
S&P 500 @ 3215.57, low 3198.59, high 3220.39
RSI @ 60.43
CMF @ 0.100
Internals were :
Down volume led by 1.64 to 1 in NYSE & .65 to 1 in Nasdaq
Declining stocks led by 1.27 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk highs were leading by 137 in NYSE & 89 in Nasdaq
VIX UP .86% @ 28.00
Oil @ $40.75
Gold @ $1800.30
Canadian $ .6457
Portfolio AAL APA CCL MGM SU
Stocks which closed green included APA
PENN DKING ZI GAN TOL KBH PINS
NVAX UPS DHI PHM RUN ASML
LULU TSM FB LRCX AMZN
NFLX FEYE MS.....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE gave back euphoria of vaccine and faced reality of infections @ record levels. There is more dissension between White House and CDC...what else is new, politicians are experts in infection not trained scientist. On the bright side internals were not bad and VIX almost unchanged which means a green close on Friday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3215.57, low 3198.59, high 3220.39
RSI @ 60.43
CMF @ 0.100
Internals were :
Down volume led by 1.64 to 1 in NYSE & .65 to 1 in Nasdaq
Declining stocks led by 1.27 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk highs were leading by 137 in NYSE & 89 in Nasdaq
VIX UP .86% @ 28.00
Oil @ $40.75
Gold @ $1800.30
Canadian $ .6457
Portfolio AAL APA CCL MGM SU
Stocks which closed green included APA
PENN DKING ZI GAN TOL KBH PINS
NVAX UPS DHI PHM RUN ASML
LULU TSM FB LRCX AMZN
NFLX FEYE MS.....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE gave back euphoria of vaccine and faced reality of infections @ record levels. There is more dissension between White House and CDC...what else is new, politicians are experts in infection not trained scientist. On the bright side internals were not bad and VIX almost unchanged which means a green close on Friday.
BLOG does NOT give buy or sell.
Saleem
Wednesday, July 15, 2020
Indices closed UP .59% to .91%....NICE !!!!
Indices closed UP.
S&P 500 @ 3226.56, high 3238.28, low 3200.76
RSI @ 61.87
CMF @ 0.048
Internals were :
UP volume led by 6.51 to 1 in NYSE & 3.70 to 1 in Nasdaq
Advancing stocks led by 5.21 to 1 in NYSE & 4.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 140 in NYSE & 98 in Nasdaq
VIX Down 5.96% @ 27.76
Oil @ $41.20
Gold @ $1813.80
Canadian $ @ .6476
Portfolio AAL APA CCL MGM SU
Stocks which were UP 4% or more included AAL CCL MGM
PENN GOOS DKNG CGC DAL ERI UBER LYFT CRON
APHA EAT MRNA NCLH SPWR RUN UAL FEYE
EXPE YELP WYNN LVS OSTK ULTA M.....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE celebrated vaccine progress with a strong rally but closed below best level of the day. Most laggards like airlines, cruise lines and restaurants stocks took off. Russell 2000 did very well. Nasdaq also closed green which proves that this market has broad participation. S&P 500 went into green for the year, one push higher will prove S&P 500 technical strength also.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3226.56, high 3238.28, low 3200.76
RSI @ 61.87
CMF @ 0.048
Internals were :
UP volume led by 6.51 to 1 in NYSE & 3.70 to 1 in Nasdaq
Advancing stocks led by 5.21 to 1 in NYSE & 4.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 140 in NYSE & 98 in Nasdaq
VIX Down 5.96% @ 27.76
Oil @ $41.20
Gold @ $1813.80
Canadian $ @ .6476
Portfolio AAL APA CCL MGM SU
Stocks which were UP 4% or more included AAL CCL MGM
PENN GOOS DKNG CGC DAL ERI UBER LYFT CRON
APHA EAT MRNA NCLH SPWR RUN UAL FEYE
EXPE YELP WYNN LVS OSTK ULTA M.....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE celebrated vaccine progress with a strong rally but closed below best level of the day. Most laggards like airlines, cruise lines and restaurants stocks took off. Russell 2000 did very well. Nasdaq also closed green which proves that this market has broad participation. S&P 500 went into green for the year, one push higher will prove S&P 500 technical strength also.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 14, 2020
Indices closed UP .94% to 2.13%....NICE !!!!
Indices closed UP.
S&P 500 @ 3197.52, high 3200.95, low 3127.66
RSI @ 59.50
CMF @ 0.043
Internals were :
UP volume led by 3.00 to 1 in NYSE & 2.32 to 1 in Nasdaq
Advancing stocks led by 1.92 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 54 in NYSE & 18 in Nasdaq
VIX Down 8.29% @ 29.52
Oil @ $40.29
Gold @ $1813.40
Canadian $ @ .6389
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA SU
AMD SQ AUY NEM DOCU CNQ CNX TOL KBH
ENPH NVAX SEDG KRA MRNA PHM RUN X
NVDA MCD AEM FSLR OXY SLB OSTK...
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE continued selling / margin calls after open, Nasdaq was down 200 points further deep into serious pullback. Banks earnings did not help & DAL warned of slower business near term. Then came renewed buying on optimism on treatment of COVID-19. Indices shot up and optimistic bears had to cover their shorts in a hurry. Indices closed @ high of the day. As the saying goes " never fight the Fed " some technicians are not getting this message.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3197.52, high 3200.95, low 3127.66
RSI @ 59.50
CMF @ 0.043
Internals were :
UP volume led by 3.00 to 1 in NYSE & 2.32 to 1 in Nasdaq
Advancing stocks led by 1.92 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 54 in NYSE & 18 in Nasdaq
VIX Down 8.29% @ 29.52
Oil @ $40.29
Gold @ $1813.40
Canadian $ @ .6389
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA SU
AMD SQ AUY NEM DOCU CNQ CNX TOL KBH
ENPH NVAX SEDG KRA MRNA PHM RUN X
NVDA MCD AEM FSLR OXY SLB OSTK...
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE continued selling / margin calls after open, Nasdaq was down 200 points further deep into serious pullback. Banks earnings did not help & DAL warned of slower business near term. Then came renewed buying on optimism on treatment of COVID-19. Indices shot up and optimistic bears had to cover their shorts in a hurry. Indices closed @ high of the day. As the saying goes " never fight the Fed " some technicians are not getting this message.
BLOG does NOT give buy or sell.
Saleem
Monday, July 13, 2020
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 3155.22, low 3149.43, high 3235.32
RSI @ 55.77
CMF @ 0.045
Internals were :
Down volume led by 1.83 to 1 in NYSE & 1.67 to 1 in Nasdaq
Declining stocks led by 1.57 to 1 in NYSE & 2.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 216 in NYSE & 187 in Nasdaq
VIX UP 17.96% @ 32.19
Oil @ $40.10
Gold @ $1814.10
Canadian $ @ .6428
In my portfolio added 20% AAL @ $11.58
Portfolio AAL APA CCL MGM SU
Stocks which closed green included MGM SU
CNQ NTAP TD PDD APHA NVAX KRA
MRNA RUN TSM WYNN LVS.....
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was celebrating new potential treatments for COVID-19, Nasdaq made a new all time high while S&P 500 went positive for the year, DOW was UP 500+++ points...but it did not last. California shutting down many businesses took the rug out of today's euphoria. It was a very good wake up call for new entrants that one can lose money in stock market, an important lesson to learn and then try to survive.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3155.22, low 3149.43, high 3235.32
RSI @ 55.77
CMF @ 0.045
Internals were :
Down volume led by 1.83 to 1 in NYSE & 1.67 to 1 in Nasdaq
Declining stocks led by 1.57 to 1 in NYSE & 2.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 216 in NYSE & 187 in Nasdaq
VIX UP 17.96% @ 32.19
Oil @ $40.10
Gold @ $1814.10
Canadian $ @ .6428
In my portfolio added 20% AAL @ $11.58
Portfolio AAL APA CCL MGM SU
Stocks which closed green included MGM SU
CNQ NTAP TD PDD APHA NVAX KRA
MRNA RUN TSM WYNN LVS.....
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was celebrating new potential treatments for COVID-19, Nasdaq made a new all time high while S&P 500 went positive for the year, DOW was UP 500+++ points...but it did not last. California shutting down many businesses took the rug out of today's euphoria. It was a very good wake up call for new entrants that one can lose money in stock market, an important lesson to learn and then try to survive.
BLOG does NOT give buy or sell.
Saleem
Sunday, July 12, 2020
Pandemic or no pandemic market keeps chugging along....
It has been exactly 7 months since COVID-19 started in WUHAN China on January 12th 2020, first concentrated in WUHAN then in other Chinese cities, it was generally downplayed initially even by WHO...but soon the whole world was alarmed and Pandemic was declared.....
Despite COVID-19 spreading fast, US indices maintained their rapid ascent to new all time high in mid February, then came the plunge in all indices breaching all key support levels, after 1 full month of relentless selling, all indices found their footing and started its climb back above and has been all clear since mid May.....into series of record all time highs in SOX & NASDAQ......
Ironically Russell 2000 is still 16.31% below its last high......
DOW is still 11.91% below its all time high..
S&P 500 is still 6.55% below its all time high....
Why do I give all the background of COVID-19 and its impact is to give a broader perspective of reality in markets.....
US market technicians were the-most reluctant to acknowledge strength in Nasdaq & SOX...always using S&P 500 chart in their thesis......
Trouble with stat is you can show whatever you want, but new all time highs are a real story and cannot be ignored by rational being...be it fundamental or technical.....
Judging from current flare up in Florida, Texas and other places, there is too much doom and gloom and ignoring all the accomplishments of Northeast...NY, CT, NJ in particular.....and majority of countries around the world.....
SO one must take lessons from what was accomplished within USA to get a better handle, even El Presidente is wearing a mask today......
YES it is bad wherever it is rising, but the flip side is, soon it will go down to a manageable level.
Market looks ahead usually 6 months .....
Everyone in USA and world sees a much better economy 6 months down the road.....
Moral of the story is " have patience " it gets darker before it gets better......
Stay with your own ideas and have very high comfort level with selected stocks, market have a habit of thrashing most popular stories quite often...so do not be a trend follower for too long...you may overstay your welcome....
Good luck with your own ideas!
BLOG does NOT give buy or sell.
Saleem
Despite COVID-19 spreading fast, US indices maintained their rapid ascent to new all time high in mid February, then came the plunge in all indices breaching all key support levels, after 1 full month of relentless selling, all indices found their footing and started its climb back above and has been all clear since mid May.....into series of record all time highs in SOX & NASDAQ......
Ironically Russell 2000 is still 16.31% below its last high......
DOW is still 11.91% below its all time high..
S&P 500 is still 6.55% below its all time high....
Why do I give all the background of COVID-19 and its impact is to give a broader perspective of reality in markets.....
US market technicians were the-most reluctant to acknowledge strength in Nasdaq & SOX...always using S&P 500 chart in their thesis......
Trouble with stat is you can show whatever you want, but new all time highs are a real story and cannot be ignored by rational being...be it fundamental or technical.....
Judging from current flare up in Florida, Texas and other places, there is too much doom and gloom and ignoring all the accomplishments of Northeast...NY, CT, NJ in particular.....and majority of countries around the world.....
SO one must take lessons from what was accomplished within USA to get a better handle, even El Presidente is wearing a mask today......
YES it is bad wherever it is rising, but the flip side is, soon it will go down to a manageable level.
Market looks ahead usually 6 months .....
Everyone in USA and world sees a much better economy 6 months down the road.....
Moral of the story is " have patience " it gets darker before it gets better......
Stay with your own ideas and have very high comfort level with selected stocks, market have a habit of thrashing most popular stories quite often...so do not be a trend follower for too long...you may overstay your welcome....
Good luck with your own ideas!
BLOG does NOT give buy or sell.
Saleem
Friday, July 10, 2020
Indices closed UP .66% to 1.44%....NICE !!!!
Indices closed @ high of the day on optimism about virus treatment with better survival results. Internals were all positive.
S&P 500 @ 3185.04, high 3186.82, low 3136.22
RSI @ 59.34
CMF @ 0.090
Internals were :
UP volume led by 4.41 to 1 in NYSE & 1.68 to 1 in Nasdaq
Advancing stocks led by 2.85 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 115 in NYSE & 112 in Nasdaq
VIX Down 6.73% @ 27.29
Oil @ $40.55
Gold @ $1801.90
Canadian $ .6406
In my portfolio ...Added 20% MGM @ $16.00
Stocks which were UP 2% or more included AAL APA CCL SU
CNQ ROKU CGC TOL DAL MTCH ZM LYFT KBH TLRY
EAT KRA NCLH PHM RUN TSLA NFLX OXY SLB
YELP WYNN LVS MS OSTK X......
Here is my portfolio weighting :
MGM 34.10%
AAL 21.41%
SU 20.61%
CCL 14.48%
APA 9.40%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3185.04, high 3186.82, low 3136.22
RSI @ 59.34
CMF @ 0.090
Internals were :
UP volume led by 4.41 to 1 in NYSE & 1.68 to 1 in Nasdaq
Advancing stocks led by 2.85 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 115 in NYSE & 112 in Nasdaq
VIX Down 6.73% @ 27.29
Oil @ $40.55
Gold @ $1801.90
Canadian $ .6406
In my portfolio ...Added 20% MGM @ $16.00
Stocks which were UP 2% or more included AAL APA CCL SU
CNQ ROKU CGC TOL DAL MTCH ZM LYFT KBH TLRY
EAT KRA NCLH PHM RUN TSLA NFLX OXY SLB
YELP WYNN LVS MS OSTK X......
Here is my portfolio weighting :
MGM 34.10%
AAL 21.41%
SU 20.61%
CCL 14.48%
APA 9.40%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, July 9, 2020
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 3152.05, low 3115.70, high 3179.78
RSI @ 56.48
CMF @ -0.017
Internals were :
Down volume led by 3.24 to 1 in NYSE & 1.04 to 1 in Nasdaq
Declining stocks led by 2.58 to 1 in NYSE & 2.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 161 in NYSE & 148 in Nasdaq
VIX UP 4.20% @ 29.26
Oil @ $39.62
Gold @ $1803.80
Canadian $ @ .6419
Portfolio AAL APA CCL MGM SU
Stocks which were UP 25 or more included NIO DOCU SHOP
ROKU ERI MTCH CRWD JD AMD HUYA SPWR NVDA
TSM TSLA AMZN FEYE FFIV PANW.....
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE closed mixed with Nasdaq being the only winner, Internals were mostly negative. There is another negative for market now, Joe Biden utterance today did not help, instead of capitalizing on unpopularity of current administration, he was busy alienating investors, not a winning strategy.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3152.05, low 3115.70, high 3179.78
RSI @ 56.48
CMF @ -0.017
Internals were :
Down volume led by 3.24 to 1 in NYSE & 1.04 to 1 in Nasdaq
Declining stocks led by 2.58 to 1 in NYSE & 2.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 161 in NYSE & 148 in Nasdaq
VIX UP 4.20% @ 29.26
Oil @ $39.62
Gold @ $1803.80
Canadian $ @ .6419
Portfolio AAL APA CCL MGM SU
Stocks which were UP 25 or more included NIO DOCU SHOP
ROKU ERI MTCH CRWD JD AMD HUYA SPWR NVDA
TSM TSLA AMZN FEYE FFIV PANW.....
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE closed mixed with Nasdaq being the only winner, Internals were mostly negative. There is another negative for market now, Joe Biden utterance today did not help, instead of capitalizing on unpopularity of current administration, he was busy alienating investors, not a winning strategy.
BLOG does NOT give buy or sell.
Saleem
Wednesday, July 8, 2020
Indices closed UP .68% to 1.44%...NCE!!!!
Indices closed UP.
S&P 500 @ 3169.94, high 3171.80, low 3136.53
RSI @ 50.56
CMF @ -0.057
Internals were :
UP volume led by 1.60 to 1 in NYSE & 2.53 to 1 in Nasdaq
Advancing stocks led by 1.48 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk highs were leading by 141 in NYSE & 122 in Nasdaq
VIX Down 4.59% @ 28.08
Oil @ $40.90
Gold @ $1820.60
Canadian $ @ .6455
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA CCL
GOLD PLAN KL ROKU TOL ERI MTCH CRWD
ESTC DDOG KBH ENPH JD PINS CLDR SQ
SEDG ELF TWTR MSFT AAPL NCLH DHI
PHM JKS SPWR CSIQ FSLR RUN HUYA
MRVL MOMO BZUN NVDA PANW MS
SNAP NTNX BABA ....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE recovered from flatline to close @ high of the day on rotation despite grim news on US infection tally. Market is dying to get some hopeful news on COVID-19 front despite lack of leadership in USA where it is still undermining infection controls. IF there is improving news on US infection, market will explode on the UP move.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3169.94, high 3171.80, low 3136.53
RSI @ 50.56
CMF @ -0.057
Internals were :
UP volume led by 1.60 to 1 in NYSE & 2.53 to 1 in Nasdaq
Advancing stocks led by 1.48 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk highs were leading by 141 in NYSE & 122 in Nasdaq
VIX Down 4.59% @ 28.08
Oil @ $40.90
Gold @ $1820.60
Canadian $ @ .6455
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included APA CCL
GOLD PLAN KL ROKU TOL ERI MTCH CRWD
ESTC DDOG KBH ENPH JD PINS CLDR SQ
SEDG ELF TWTR MSFT AAPL NCLH DHI
PHM JKS SPWR CSIQ FSLR RUN HUYA
MRVL MOMO BZUN NVDA PANW MS
SNAP NTNX BABA ....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE recovered from flatline to close @ high of the day on rotation despite grim news on US infection tally. Market is dying to get some hopeful news on COVID-19 front despite lack of leadership in USA where it is still undermining infection controls. IF there is improving news on US infection, market will explode on the UP move.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 7, 2020
Indices closed down .86% to 1.51%....
Indices closed down.
S&P 500 @ 3145.32, low 3142.93, high 3184.15
RSI @ 56.51
CMF @ -0.094
Internals were :
Down volume led by 2.54 to 1 in NYSE & 1.48 to 1 in Nasdaq
Declining stocks led by 2.73 to 1 in NYSE & 2.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 123 in NYSE & 114 in Nasdaq
VIX UP 5.33% @ 29.43
Oil @ $40.62
Gold @ $1809.90
Canadian $ @ .6409
Portfolio AAL APA CCL MGM SU
Stocks which closed UP 2% or more included AUY NIO NEM
DOCU SHOP KL PDD NVAX SQ ELF TWTR RUN AEM
SNAP OSTK.......
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure after touching green, indices closed @ low of the day. Most traders are realizing that we are deeply overvalued but are playing for the last $. Market is in a topping pattern which gives many signal like negative CMF which is @ lowest level in a while. We have to keep an eye on how we close daily for confirmation.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3145.32, low 3142.93, high 3184.15
RSI @ 56.51
CMF @ -0.094
Internals were :
Down volume led by 2.54 to 1 in NYSE & 1.48 to 1 in Nasdaq
Declining stocks led by 2.73 to 1 in NYSE & 2.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 123 in NYSE & 114 in Nasdaq
VIX UP 5.33% @ 29.43
Oil @ $40.62
Gold @ $1809.90
Canadian $ @ .6409
Portfolio AAL APA CCL MGM SU
Stocks which closed UP 2% or more included AUY NIO NEM
DOCU SHOP KL PDD NVAX SQ ELF TWTR RUN AEM
SNAP OSTK.......
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure after touching green, indices closed @ low of the day. Most traders are realizing that we are deeply overvalued but are playing for the last $. Market is in a topping pattern which gives many signal like negative CMF which is @ lowest level in a while. We have to keep an eye on how we close daily for confirmation.
BLOG does NOT give buy or sell.
Saleem
Monday, July 6, 2020
Indices closed UP 1.59% to 2.21%...NICE !!!!
Indices closed UP.
S&P 500 @ 3179.72, high 3182.59, low 3155.29
RSI @ 60.38.....Nasdaq RSI @ 68.15
CMF @ -0.003
Internals were :
UP volume led by 4.04 to 1 in NYSE & 2.15 to 1 in Nasdaq
Advancing stocks led by 2.52 to 1 in NYSE & 1.89 to 1 in Nasdaq
Net new 52 wk highs were leading by 187 in NYSE & 205 in Nasdaq
VIX UP .94% @ 27.94
Oil @ $40.63
Gold @ $1793.50
Canadian $ @ .6450
In my portfolio
Added 50% APA @ $13.55
Sold GOOS @ $22.83
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included AAL APA
NIO CNX ROKU CIEN TOL DAL TLRY JD PINS
SQ MU SEDG AMD TWTR TER MSFT AAPL
BIDU DHI PHM BA JKS SPWR FSLR CSIQ
HUYA MRVL MOMO XLNX LULU BZUN
TSM LRCX AMZN SLB BABA OSTK
SINA CMG PANW.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE continued its euphoric run to record highs in Nasdaq just to prove Carter Worth wrong in his technical outlook. Nasdaq RSI is @ 68.15 which requires booking of profit ASAP. VIX actually went UP also a red flag, CMF is negative also a red flag. SOX also in euphoric mode. Have seen this type of TAPE many time and is cause for concern.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3179.72, high 3182.59, low 3155.29
RSI @ 60.38.....Nasdaq RSI @ 68.15
CMF @ -0.003
Internals were :
UP volume led by 4.04 to 1 in NYSE & 2.15 to 1 in Nasdaq
Advancing stocks led by 2.52 to 1 in NYSE & 1.89 to 1 in Nasdaq
Net new 52 wk highs were leading by 187 in NYSE & 205 in Nasdaq
VIX UP .94% @ 27.94
Oil @ $40.63
Gold @ $1793.50
Canadian $ @ .6450
In my portfolio
Added 50% APA @ $13.55
Sold GOOS @ $22.83
Portfolio AAL APA CCL MGM SU
Stocks which were UP 2% or more included AAL APA
NIO CNX ROKU CIEN TOL DAL TLRY JD PINS
SQ MU SEDG AMD TWTR TER MSFT AAPL
BIDU DHI PHM BA JKS SPWR FSLR CSIQ
HUYA MRVL MOMO XLNX LULU BZUN
TSM LRCX AMZN SLB BABA OSTK
SINA CMG PANW.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE continued its euphoric run to record highs in Nasdaq just to prove Carter Worth wrong in his technical outlook. Nasdaq RSI is @ 68.15 which requires booking of profit ASAP. VIX actually went UP also a red flag, CMF is negative also a red flag. SOX also in euphoric mode. Have seen this type of TAPE many time and is cause for concern.
BLOG does NOT give buy or sell.
Saleem
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