Indices closed down.
S&P 500 @ 4081.50, low 4069.67, high 4156.23
RSI @ 54.98
CNF @ 0.161
Internals were :
Down volume led by 3.15 to 1 in NYSE & 2.48 to 1 in Nasdaq
Declining stocks led by 2.74 to 1 in NYSE & 2.37 to 1 in Nasdaq
Net new highs were leading by 74 in NYSE & 25 in Nasdaq
VIX UP 5.50% @ 20.71
Oil @ $98.06
Gold @ $1878.50
Canadian $ @ .6570
In my portfolio Sols MGM @ $45.00
Portfolio ARKK LCID LSPD SOL
Stocks which closed green included MGM
LULU PDD TPR CBX AMAT NTR TJX
CCJ CRM TSM TRIP WYNN SWKS
LAC SNOW CSIQ NXPI DDOG
ABBV ELF LSCC NVDA TSLA
SPLK BABA.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was nicely UP when 10 year yield jumped and down went the market and closed near low of the day, a very disappointing action to reverse and close near low, Internals were negative. It IS important to book profit as we get overbought. Buying should be done opportunistically.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteBought BLNK @ 10.67
After earnings and the secondary offering, I feel like it has de-risked sufficiently.
Stocktrader
Hi Saleem,
ReplyDeleteBought LYFT @ 10.71 on this pullback
Even though there are major problems at the company, I think the drop of this magnitude is unwarranted and could see some activist or takeover interest.
Stocktrader
Hi Saleem,
ReplyDeleteBought IONQ @ 4.85 on this pullback
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with BLNK, LYFT & IONQ
Saleem
Hi Saleem,
ReplyDeleteBought DDOG @ 79.10 on this pullback
I think the "hot" January jobs number was a blip based on seasonal adjustments and further inflation and jobs data should be cooler. I think that sets up this market for another leg higher after resting this week.
I am also disappointed in my perpetually poor patience with shorts that eventually work, sometimes just days after I get rid of them, but ultimately I'm still a stock picker so I am always on the hunt.
My cash level is 0% again.
Stocktrader
ReplyDeleteHi Stocktrader,
Bought AI @ $22.70
Saleem
Hi Saleem,
ReplyDeleteGood luck with AI! This could be the next huge emerging growth trend over the next 10 years.
Stocktrader
ReplyDeleteHi Stocktrader,
Bought MRVL @ $44.30
Saleem
ReplyDeleteHi Stocktrader,
About your hedge rethink, It IS like any other purchase & sale price, sometimes we get It right and few times we do not....
We all have learned not to dwell...done is done and we need to think our next moves and hopefully we get that one right....
Saleem
Hi Saleem,
ReplyDeleteGood luck with MRVL!
Yes the timing is never perfect, but we try our best :)
Stocktrader