Indices closed UP.
S&P 500 @ 2662.94, high 2668.84, low 2637.08
RSI @ 41.53
CMF @ 0.024
Internals were :
UP volume led by 1.19 to 1 in NYSE & 1.76 to 1 in Nasdaq
Advancing stocks led by 1.32 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk lows were leading by 35 in NYSE & 31 in Nasdaq
VIX Down 2.50% @ 24.97
Oil @ $59.19
Gold @ $1330.40
Stocks which were UP 1% or more included
FSLR NVDA NTES SQ
WB MRVL TSLA BABA AAPL
JD SPWR MU TECK AMZN FCX LVS
MA LEN CSIQ SINA FFIV VECO TWLO
FEYE LNG TWTR CIEN BIDU WYNN TRIP
OSTK KORS AAL X M PANW CNX....
AH news....BIDU UP 5.15%, TWLO UP 6.28%
CMG UP 11.69%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE continued its old bullish pattern of opening lower and closing near high of the day. TAPE has been UP 3 days in a row which is very healthy.Any pause will be a good reason to buy, tomorrow inflation numbers may put pressure on indices IF its hot, this may put interest rate hike back on Feds mind.
BLOG does NOT give buy or sell.
Saleem
Tuesday, February 13, 2018
Indices UP .17% to .29%....NICE !!!!
Indices are showing strong technical strength by opening lower and erasing all the losses, 3rd day of gains is a sign of major turnaround as buyers are stepping in to be in stocks.
S&P 500 @ 2661.54, high 2664.70, low 2637.08
Internals are positive.
Oil Down 2 cents
Gold UP $3.30
Canadian $ Down 29 tick @ .7398
VIX Down 1.56% @ 25.21
Portfolio CTRP FSLR NVDA NTES SQ
Most stocks are UP
@ 2.06 following are red :
AMAT SHOP FB TSM LRCX TRIL GE OLED GG
V ABX KGC AEM EXPE FNSR CHK TK RIG
YELP MGA MCD CRUS ULTA SWKS CMG
IBM .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2661.54, high 2664.70, low 2637.08
Internals are positive.
Oil Down 2 cents
Gold UP $3.30
Canadian $ Down 29 tick @ .7398
VIX Down 1.56% @ 25.21
Portfolio CTRP FSLR NVDA NTES SQ
Most stocks are UP
@ 2.06 following are red :
AMAT SHOP FB TSM LRCX TRIL GE OLED GG
V ABX KGC AEM EXPE FNSR CHK TK RIG
YELP MGA MCD CRUS ULTA SWKS CMG
IBM .....
BLOG does NOT give buy or sell.
Saleem
Monday, February 12, 2018
Indices closed UP 1.39% to 1.70%....NICE !!!!
Indices closed UP.
S&P 500 @ 2656.00, high 2672.61, low 2622.45
RSI @ 40.49
CMF @ -0.029
Internals were :
UP volume led by 4.58 to 1 in NYSE & 3.16 to 1 in Nasdaq
Advancing stocks led by 2.80 to 1 in NYSE & 1.90 to 1 in Nasdaq
Net new 52 wk lows were leading by 67 in NYSE & 17 in Nasdaq
VIX Down 11.87% @ 25.61
Oil @ $59.29
Gold @ $1326.40
Stocks which were UP 2% or more included FSLR
SHOP WB BIDU MRVL MOMO TSM LRCX
AAPL NFLX AMD OLED MU BAC MS JKS
TECK AMZN CSIQ TWLO TK FEYE TNA
SPLK KBH AAL X CNX......
AH news...VIPS UP 10.56%, VECO UP 4.64%
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE came back to its old routine of higher open and kept going UP and closed near high of the day. Internals were strong while new lows still maintained lead over new highs. It is technically important to close green on Tuesday to confirm this up move.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2656.00, high 2672.61, low 2622.45
RSI @ 40.49
CMF @ -0.029
Internals were :
UP volume led by 4.58 to 1 in NYSE & 3.16 to 1 in Nasdaq
Advancing stocks led by 2.80 to 1 in NYSE & 1.90 to 1 in Nasdaq
Net new 52 wk lows were leading by 67 in NYSE & 17 in Nasdaq
VIX Down 11.87% @ 25.61
Oil @ $59.29
Gold @ $1326.40
Stocks which were UP 2% or more included FSLR
SHOP WB BIDU MRVL MOMO TSM LRCX
AAPL NFLX AMD OLED MU BAC MS JKS
TECK AMZN CSIQ TWLO TK FEYE TNA
SPLK KBH AAL X CNX......
AH news...VIPS UP 10.56%, VECO UP 4.64%
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE came back to its old routine of higher open and kept going UP and closed near high of the day. Internals were strong while new lows still maintained lead over new highs. It is technically important to close green on Tuesday to confirm this up move.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.36% to 1.72%....NICE !!!!
Indices are continuing their move UP from low of Friday.
S&P 500 @ 2655.54, high 2661.68, low 2622.45
Internals are positive by 2 to 1 to 3 to 1
Oil UP 59 cents
Gold UP $11.20
Canadian $ Down 25 tick @ .7399
VIX Down 7.71% @ 26.82
Portfolio CTRP FSLR NVDA NTES SQ
Most stocks are UP
@ 1.48 following are red :
CTRP NVDA GE TWTR SNAP SPWR FCX EXPE
SU YUM FNSR GPRO WYNN TRIP OSTK
ULTA CELG CMG ...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2655.54, high 2661.68, low 2622.45
Internals are positive by 2 to 1 to 3 to 1
Oil UP 59 cents
Gold UP $11.20
Canadian $ Down 25 tick @ .7399
VIX Down 7.71% @ 26.82
Portfolio CTRP FSLR NVDA NTES SQ
Most stocks are UP
@ 1.48 following are red :
CTRP NVDA GE TWTR SNAP SPWR FCX EXPE
SU YUM FNSR GPRO WYNN TRIP OSTK
ULTA CELG CMG ...
BLOG does NOT give buy or sell.
Saleem
Sunday, February 11, 2018
Volatility to continue.......
It has been a very volatile week in markets since previous Friday.
Last week was the-worst week in 2 years.
Reasons given for this volatility / slump are many, they are :
10 year yield @ 2.88%...a 4 year high
Wage inflation picking up.
High Frequency Machines / Traders have gone out of control....
VIX related derivatives are running out of control
BUT the-most potent reason was simple.....we have gone too far too fast....or... major complacency in the mind of traders...
In 2017 S&P 500 was UP 19.4%...
In 2018 in few weeks we added 7.5% in S&P 500, Nasdaq added another 8.7%, Dow 7.7%...
In 2018..AMZN was UP 20%, NFLX UP 43%....we are talking max 6 weeks of 2018.....
SO...it was inevitable that we would correct sooner which has became later since 2017
SO.. after a gain of 26.9% in S&P 500 we pulled back 11.84% from high to low......
What stunned everyone including me, not 11.84% pullback , but it is the speed of this pullback, 6 trading days did it all......
About volatility, i expect it to continue for several weeks, UP DOWN like a yoyo....this may entail retesting and going below Friday's lows.......
SO..do not be complacent again, try to book profit IF you can find any and try to be nimble until volatility dies......
We have a target of S&P 500 for all 2018 which is 3025
Support around 2540 level...which got penetrated easily as low as 2532.69 on Friday.....S&P 500 went below 200 DMA...along with Russell 2000.......
It is very important to adjust to the market we got, not the the market we want......
Good luck with your own take of this market and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Last week was the-worst week in 2 years.
Reasons given for this volatility / slump are many, they are :
10 year yield @ 2.88%...a 4 year high
Wage inflation picking up.
High Frequency Machines / Traders have gone out of control....
VIX related derivatives are running out of control
BUT the-most potent reason was simple.....we have gone too far too fast....or... major complacency in the mind of traders...
In 2017 S&P 500 was UP 19.4%...
In 2018 in few weeks we added 7.5% in S&P 500, Nasdaq added another 8.7%, Dow 7.7%...
In 2018..AMZN was UP 20%, NFLX UP 43%....we are talking max 6 weeks of 2018.....
SO...it was inevitable that we would correct sooner which has became later since 2017
SO.. after a gain of 26.9% in S&P 500 we pulled back 11.84% from high to low......
What stunned everyone including me, not 11.84% pullback , but it is the speed of this pullback, 6 trading days did it all......
About volatility, i expect it to continue for several weeks, UP DOWN like a yoyo....this may entail retesting and going below Friday's lows.......
SO..do not be complacent again, try to book profit IF you can find any and try to be nimble until volatility dies......
We have a target of S&P 500 for all 2018 which is 3025
Support around 2540 level...which got penetrated easily as low as 2532.69 on Friday.....S&P 500 went below 200 DMA...along with Russell 2000.......
It is very important to adjust to the market we got, not the the market we want......
Good luck with your own take of this market and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, February 9, 2018
Indices closed UP 1.38% to 1.49%....NICE !!!!
Indices closed UP after testing 200 DMA in major indices and many stocks.
S&P 500 @ 2619.55, high 2638.67, low 2532.69
RSI @ 34.83
CMF @ -0.014
Internals were :
UP volume led by 2.47 to 1 in NYSE & 1.88 to 1 in Nasdaq
Advancing stocks led by 1.42 to 1 in NYSE & 1.36 to 1 in Nasdaq
Net new 52 wk lows were leading by 350 in NYSE & 240 in Nasdaq
VIX Down 13.15% @ 29.06
Oil @ $59.20
Gold @ $1315.70
Canadian $ @ .7399
Stocks which were UP 2% or more included NVDA
WB MRVL MOMO FB TSM LRCX BZUN GE OLED
TWTR TECK GOOG MSFT FCX V MA SU TUM VECO
TWLO FEYE LNG MLNX SINA OSTK CRUS ULTA TNA
SWKS NKE CNX.....
Here is my portfolio weighting :
NTES 29.30%
NVDA 23.305
FSLR 23.00%
CTRP 16.50%
SQ 7.90%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2619.55, high 2638.67, low 2532.69
RSI @ 34.83
CMF @ -0.014
Internals were :
UP volume led by 2.47 to 1 in NYSE & 1.88 to 1 in Nasdaq
Advancing stocks led by 1.42 to 1 in NYSE & 1.36 to 1 in Nasdaq
Net new 52 wk lows were leading by 350 in NYSE & 240 in Nasdaq
VIX Down 13.15% @ 29.06
Oil @ $59.20
Gold @ $1315.70
Canadian $ @ .7399
Stocks which were UP 2% or more included NVDA
WB MRVL MOMO FB TSM LRCX BZUN GE OLED
TWTR TECK GOOG MSFT FCX V MA SU TUM VECO
TWLO FEYE LNG MLNX SINA OSTK CRUS ULTA TNA
SWKS NKE CNX.....
Here is my portfolio weighting :
NTES 29.30%
NVDA 23.305
FSLR 23.00%
CTRP 16.50%
SQ 7.90%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, February 8, 2018
Indices closed down 3.75% to 4.15%.......
Indices closed down.
S&P 500 @ 2581.00, low 2580.56, high 2685.27
RSI @ 28.12
CMF @ -0.020
Internals were :
Down volume led by 10.02 to 1 in NYSE & 6.35 to 1 in Nasdaq
Declining stocks led by 8.23 to 1 in NYSE & 5.58 to 1 in Nasdaq
Net new 52 wk lows were leading by 199 in NYSE & 115 in Nasdaq
VIX UP 20.66% @ 33.46
Oil @ $61.45
Gold @ $1319.00
In my portfolio trades around 3 PM :
Sold 60% NTES @ $291.50
Bought NVDA @ $223.46
NVDA reported a superb quarter by beating EPS expectations of $1.16, actual $1.78 beat by 52 cents & Sales consensus $2.68 billion, actual $2.91 billion UP 34% yearly gain, by a very wide margin, also guiding well above street consensus on Q1 Sales guiding Sales $2.84 billion to $2.96 billion vs consensus of $2.47 billion & EPS of $1.59 to $1.72 vs consensus of 98 cents.....
AH news....NVDA UP 7.53%, FEYE UP 12.11%
EXPE Down 19.17%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was simply ugly and crashed into close with stunning losses in all indices, Dow & S&P 500 have entered correction territory of 10%. I know there is a very " thick pessimism " about stocks and this market, but it is an indicator that we may have reached an important support area. RSI of 28.12 is telling me, we are deeply deeply oversold already, it may be a time to build position in strong stocks with earning momentum. My take may sound even crazy, but i made a switch around 3 PM today, when we were down around 500 points in Dow. Markets will do what it wants to do, but it is not profitable to wait for a clear signal that all is well, you may be missing 10% of the move. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2581.00, low 2580.56, high 2685.27
RSI @ 28.12
CMF @ -0.020
Internals were :
Down volume led by 10.02 to 1 in NYSE & 6.35 to 1 in Nasdaq
Declining stocks led by 8.23 to 1 in NYSE & 5.58 to 1 in Nasdaq
Net new 52 wk lows were leading by 199 in NYSE & 115 in Nasdaq
VIX UP 20.66% @ 33.46
Oil @ $61.45
Gold @ $1319.00
In my portfolio trades around 3 PM :
Sold 60% NTES @ $291.50
Bought NVDA @ $223.46
NVDA reported a superb quarter by beating EPS expectations of $1.16, actual $1.78 beat by 52 cents & Sales consensus $2.68 billion, actual $2.91 billion UP 34% yearly gain, by a very wide margin, also guiding well above street consensus on Q1 Sales guiding Sales $2.84 billion to $2.96 billion vs consensus of $2.47 billion & EPS of $1.59 to $1.72 vs consensus of 98 cents.....
AH news....NVDA UP 7.53%, FEYE UP 12.11%
EXPE Down 19.17%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was simply ugly and crashed into close with stunning losses in all indices, Dow & S&P 500 have entered correction territory of 10%. I know there is a very " thick pessimism " about stocks and this market, but it is an indicator that we may have reached an important support area. RSI of 28.12 is telling me, we are deeply deeply oversold already, it may be a time to build position in strong stocks with earning momentum. My take may sound even crazy, but i made a switch around 3 PM today, when we were down around 500 points in Dow. Markets will do what it wants to do, but it is not profitable to wait for a clear signal that all is well, you may be missing 10% of the move. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
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