Indices closed down barely on low volume.
S&P 500 @ 4258.19, low 4225.91, high 4267.13
RSI @ 34.59
Internals were :
Down volume led by .95 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 1.11 to 1 in NYSE & 1.02 to 1 in Nasdaq
Net new lows were leading by 272 in NYSE & 327 in Nasdaq
VIX Down .48% @ 18.49
Oil @ $82.31
Gold @ $1831.80
Canadian $ @ .6258
Portfolio AI META NVDA PLTR SHOP TSLA BTCC
It IS all about jobs report until it comes out, then we will worry about something else like treasury yield or inflation....
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Sold two laggards from the portfolio:
Sold BMEA @ 12.29
Sold TOST @ 17.59
In this higher rate environment, the lack of earnings is hurting valuations. There are also major disruptive forces in the drug industry that might be leaving BMEA's drug behind, and the restaurant industry may be hurt by student loan and more cautious spending for TOST and they are leveraged highly to individual restaurant successes with their capital program.
Ultimately, these are relative strength calls as the reasoning for the sells is driven by explanation for the recent price action.
Stocktrader
Hi Stocktrader,
Good moves in sell.
Good luck with next pick, market looking almost PERFECT$$$$
Saleem
Hi Saleem,
Sold U @ 30.05
Bought PINS @ 28.12
This is an unwind of a prior trade I made where I thought PINS catalysts were over and U had more room from here. The price action tells me otherwise, and recent analyst indications signal PINS is gaining traction with its new initiatives.
Stocktrader
Hi Saleem,
Bought SNAP @ 8.56 on underappreciated user base
Added to LYFT @ 10.89 due to new management initiatives and market share gains
Stocktrader
Hi Stocktrader,
Good move in swap trade ..
Good luck with SNAP, PINS & more of LYFT....good strategy...
Saleem
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