Thursday, August 27, 2020

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3484.55, high 3501.38, low 3468.35

RSI @ 77.31

CMF @ 0.446

Internals were :

UP volume led by 1.63 to 1 in NYSE & .90 to 1 in Nasdaq

Advancing stocks led by 1.16 to 1 in NYSE & .85 to 1 in Nasdaq

Net new 52 wk highs were leading by 179 in NYSE & 112 in Nasdaq

VIX UP 5.16% @ 24.47

Oil @ $43.04

Gold @ $1932.60

Canadian $ @ .6884

In my portfolio :

Bought GOLD @ $28.45

Bought FCX @ $15.00

Bought AG @ $11.65

Added 25% SU @ $16.22

Sold MGM @ $23.10

Portfolio AAL APA GOLD CCL AG FCX MU NXT SU

Stocks which closed UP by 3% or more included AAL APA CCL MGM

PLAN CNX NTAP NCLH SPWR BYND TSLA UAL

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed in the upper range but Nasdaq took a rest. Fed new inflation policy was a non event but high frequency trader gave a yo yo try only to give up by close. S&P 500 and Nasdaq made another all time high. Abbot Lab was in the forefront of COVID-19 rapid 5 minute test which gave laggards airlines, cruise lines, hotels a big boost. Pay attention to rotation, it is happening on a daily basis.

BLOG does NOT give buy or sell.

Saleem

3 comments:

Stocks100 said...


Hi Stocktrader,

Bought back 55% MGM @ $23.10..same price i sold @ in pre market.

Saleem

stocktrader_1996 said...

Hi guys,

Sold GAN @ 21.07

I think this promised "tier one" client was disappointing, and I fear the management is too promotional, which is always a bad sign.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Good luck with MGM back!

Stocktrader