Nasdaq stole the show on Friday with a brand new record high close, Dow & S&P 500 are above 50 DMA......
Reason for this sudden surge are quite a few, some of them are :
-Face to face negotiation between US & North Korea....everything on the table no pre condition.
-Jobs growth of 313,000 was taken as just perfect with no growth in wage inflation.
-Tariffs were imposed with exemption to Canada & Mexico.
- Mr trump is softening his hardline approach to many foreign related issues, it took resignation of Mr Cohn to get a balanced view.
All of the above were major irritant to the psyche of market participants, they all came undone in a very quick 72 hours....never seen quadruple major issues gets resolved in such a short time frame.
Investing theme remains the same, stay with strong stocks and they will come back quickly.
Financials are making new 52 wk highs, but are miles away from new all time highs.
FB remains a laggard and AAPL defying iphone X sales issues.
I expect this week to be strong with Nasdaq making series of new all time highs.
This is a fast moving market in both direction.Sometimes you can catch a change in direction same day from open to close.
Get a quick sense as to what is really working like NFLX, AMZN and what is NOT working TSLA JD.....
Lots of time still left to indulge in new highs stocks
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
Sunday, March 11, 2018
Friday, March 9, 2018
Indices closed UP 1.74% to 1.79%....NICE !!!!
Jobs report was better than superb 313K vs 200K expected, that pushed Nasdaq to new all time high, Down & S&P 500 are above key technical level of 50 DMA.....new highs begets series of new highs.Indices closed @ absolute high of the day.
S&P 500 @ 2786.57, high 2786.57, low 2751.54
RSI @ 59.20
CMF @ 0.242
Internals were :
UP volume led by 4.44 to 1 in NYSE & 2.42 to 1 in Nasdaq
Advancing stocks led by 2.77 to 1 in NYSE & 2.81 to 1 in Nasdaq
Net new 52 wk highs were leading by 101 in NYSE & 235 in Nasdaq
VIX Down 11.49% @ 14.64
Oil @ $62.04
Gold @ $1324.00
Canadian $ @ .7177
Stocks which were UP 2% or more included CHK MOMO
GOOG OLED BIDU AMAT FCX GE LRCX MA MSFT
NFLX VECO YELP WYNN MS CRUS TNA AAL.....
Here is my portfolio weighting :
FSLR 26.90%
NVDA 25.90%
CTRP 19.20%
BZUN 19.00%
SNAP 9.00%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2786.57, high 2786.57, low 2751.54
RSI @ 59.20
CMF @ 0.242
Internals were :
UP volume led by 4.44 to 1 in NYSE & 2.42 to 1 in Nasdaq
Advancing stocks led by 2.77 to 1 in NYSE & 2.81 to 1 in Nasdaq
Net new 52 wk highs were leading by 101 in NYSE & 235 in Nasdaq
VIX Down 11.49% @ 14.64
Oil @ $62.04
Gold @ $1324.00
Canadian $ @ .7177
Stocks which were UP 2% or more included CHK MOMO
GOOG OLED BIDU AMAT FCX GE LRCX MA MSFT
NFLX VECO YELP WYNN MS CRUS TNA AAL.....
Here is my portfolio weighting :
FSLR 26.90%
NVDA 25.90%
CTRP 19.20%
BZUN 19.00%
SNAP 9.00%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 8, 2018
Indices closed UP .38% to .45%...NICE !!!!
Indices closed UP.
S&P 500 @ 2738.97, high 2740.45, low 2722.66
RSI @ 52.64
CMF @ 0.124
Internals were :
UP volume led by 1.26 to 1 in NYSE & 1.45 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 64 in NYSE & 158 in Nasdaq
VIX Down 6.87% @ 16.54
Oil @ $60.12
Gold @ $1321.70
AH news....FNSR Down 9.25%, MRVL Down 3.33%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE reacted well to press conference on tariff's detail which exempted Canada and Mexico for now. Indices closed near high of the day, internals were all positive after many days. It is all about jobs report @ 8.30 AM, based on all indicators, it should be above consensus, no, market should not tank on hot jobs report, it is very well discounted already with tariff negativity. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2738.97, high 2740.45, low 2722.66
RSI @ 52.64
CMF @ 0.124
Internals were :
UP volume led by 1.26 to 1 in NYSE & 1.45 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 64 in NYSE & 158 in Nasdaq
VIX Down 6.87% @ 16.54
Oil @ $60.12
Gold @ $1321.70
AH news....FNSR Down 9.25%, MRVL Down 3.33%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE reacted well to press conference on tariff's detail which exempted Canada and Mexico for now. Indices closed near high of the day, internals were all positive after many days. It is all about jobs report @ 8.30 AM, based on all indicators, it should be above consensus, no, market should not tank on hot jobs report, it is very well discounted already with tariff negativity. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices mixed...
Indices are mixed after opening higher, traders are waiting for details of Tariff in 330 PM press conference.
S&P 500 @ 2727.45, high 2737.29, low 2722.65
Internals are mostly negative
Oil Down 97 cents
Gold Down $5.40
Canadian $ Down 41 tick @ .7049
VIX Down 2.03% @ 17.40
In my portfolio :
Sold MOMO @ $37.75
Bought BZUN @ $45.80
Portfolio BZUN CTRP FSLR NVDA SNAP
Most stocks are down
@ 2.26 PM following are green :
BZUN CTRP SQ AAPL JD GOOG SHOP NTES
DNKN JKS LVS LRCX MRVL MU YUM
ALDR WYNN MLNX ORCL OSTK MCD
AEM CRUS SPLK ULTA NKE CMG AAL
PANW CNX......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2727.45, high 2737.29, low 2722.65
Internals are mostly negative
Oil Down 97 cents
Gold Down $5.40
Canadian $ Down 41 tick @ .7049
VIX Down 2.03% @ 17.40
In my portfolio :
Sold MOMO @ $37.75
Bought BZUN @ $45.80
Portfolio BZUN CTRP FSLR NVDA SNAP
Most stocks are down
@ 2.26 PM following are green :
BZUN CTRP SQ AAPL JD GOOG SHOP NTES
DNKN JKS LVS LRCX MRVL MU YUM
ALDR WYNN MLNX ORCL OSTK MCD
AEM CRUS SPLK ULTA NKE CMG AAL
PANW CNX......
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 7, 2018
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 2726.80, low 2701.74, high 2730.60
RSI @ 50.76
CMF @ 0.029
Internals were :
UP volume led by .73 to 1 in NYSE & 1.71 to 1 in Nasdaq
Advancing stocks led by 1.09 to 1 in NYSE & 1.68 to 1 in Nasdaq
Net new 52 wk highs were leading by 47 in NYSE & 137 in Nasdaq
VIX Down 3.27% @ 17.76
Oil @ $61.15
Gold @ $1327.60
AH news...WUBA UP 4.4%, CZR UP 6.8%
ZAGG Down 8.39%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under pressure @ open, Dow was down 300 points but by close Dow down about 83 points, Nasdaq closed UP 24 points and is only 106 points away from making a new all time high. Mixed close is a very good technical sign of the health of this market. Internals were mostly positive. Hopefully Thursday we close in green.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2726.80, low 2701.74, high 2730.60
RSI @ 50.76
CMF @ 0.029
Internals were :
UP volume led by .73 to 1 in NYSE & 1.71 to 1 in Nasdaq
Advancing stocks led by 1.09 to 1 in NYSE & 1.68 to 1 in Nasdaq
Net new 52 wk highs were leading by 47 in NYSE & 137 in Nasdaq
VIX Down 3.27% @ 17.76
Oil @ $61.15
Gold @ $1327.60
AH news...WUBA UP 4.4%, CZR UP 6.8%
ZAGG Down 8.39%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under pressure @ open, Dow was down 300 points but by close Dow down about 83 points, Nasdaq closed UP 24 points and is only 106 points away from making a new all time high. Mixed close is a very good technical sign of the health of this market. Internals were mostly positive. Hopefully Thursday we close in green.
BLOG does NOT give buy or sell.
Saleem
Indices down .12% to .99%.....
Indices are near off their lows in reaction to Cohn's resignation from Presidents Chief economic czar and author of US tax reform passed by congress, he was ex President of Goldman Sachs.
S&P 500 @ 2716.01, low 2701.74, high 2724.06
Internals are mixed with Nasdaq being positive.
Oil Down $1.32
Gold Down $9.20
Canadian $ Down 89 tick @ .7036...new 8 months low, as Canadian Central Bank not increasing interest rates today.
VIX UP 1.47% @ 18.63
Portfolio CTRP FSLR MOMO NVDA SNAP
Bought NVDA in pre market @ $239.01
Most stocks are down
@ 2.18 following are green :
FSLR MOMO SNAP SQ FB JD OLED WB SHOP NTES
AMD EBAY EXPE LRCX ROKU TWTR TSM FNSR
TK FEYE YELP CIEN MLNX SPLK TNA IBM X
PANW.....
MOMO earnings report was a beat in Sales, EPS and raised guidance.
Q4 Sales actual $386.4 million vs expectations of $383.1 million
Q4 EPS actual 53 cents vs expectations of 46 cents......
Q1 Sales guidance $387 million to $402 million vs expectations
of $370.5 million...well above consensus...
Monthly Active and paying users showed renewed growth.....
Stock currently UP 9.18%
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2716.01, low 2701.74, high 2724.06
Internals are mixed with Nasdaq being positive.
Oil Down $1.32
Gold Down $9.20
Canadian $ Down 89 tick @ .7036...new 8 months low, as Canadian Central Bank not increasing interest rates today.
VIX UP 1.47% @ 18.63
Portfolio CTRP FSLR MOMO NVDA SNAP
Bought NVDA in pre market @ $239.01
Most stocks are down
@ 2.18 following are green :
FSLR MOMO SNAP SQ FB JD OLED WB SHOP NTES
AMD EBAY EXPE LRCX ROKU TWTR TSM FNSR
TK FEYE YELP CIEN MLNX SPLK TNA IBM X
PANW.....
MOMO earnings report was a beat in Sales, EPS and raised guidance.
Q4 Sales actual $386.4 million vs expectations of $383.1 million
Q4 EPS actual 53 cents vs expectations of 46 cents......
Q1 Sales guidance $387 million to $402 million vs expectations
of $370.5 million...well above consensus...
Monthly Active and paying users showed renewed growth.....
Stock currently UP 9.18%
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 6, 2018
Indices closed UP .04% to .56%...NICE !!!!
Indices closed UP.
S&P 500 @ 2728.12, high 2732.08, low 2711.26
RSI @ 50.96
CMF @ 0.067
Internals were :
UP volume led by 1.85 to 1 in NYSE & 1.91 to 1 in Nasdaq
Advancing stocks led by 2.24 to 1 in NYSE & 1.87 to 1 in Nasdaq
Net new 52 wk highs were leading by 55 in NYSE & 110 in Nasdaq
VIX Down 1.98% @ 18.36
Oil @ $62.60
Gold @ $1335.20
Stocks which were UP 2% or more included BZUN FSLR MOMO
NVDA WB NTES BABA AMAT FCX GG KGC LRCX LULU
MU NFLX SINA FNSR LNG CIEN AEM SPLK TNA....
In my portfolio AH Sold BZUN @ $46.80
Portfolio CTRP FSLR MOMO SNAP
AH news...FORM UP 6.29%, DRH UP 8%
BZH Down 6.14%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was all over the place on tariff debate. After close Gary Cohn's resigns as top Trump's economic adviser, this news is expected to rattle Wall Street as he was voice of Wall Street being Chief from Goldman Sachs. Slump in market on Wednesday may give some buying opportunities.
BLOG does NOT give buy or sell.
Saleen
S&P 500 @ 2728.12, high 2732.08, low 2711.26
RSI @ 50.96
CMF @ 0.067
Internals were :
UP volume led by 1.85 to 1 in NYSE & 1.91 to 1 in Nasdaq
Advancing stocks led by 2.24 to 1 in NYSE & 1.87 to 1 in Nasdaq
Net new 52 wk highs were leading by 55 in NYSE & 110 in Nasdaq
VIX Down 1.98% @ 18.36
Oil @ $62.60
Gold @ $1335.20
Stocks which were UP 2% or more included BZUN FSLR MOMO
NVDA WB NTES BABA AMAT FCX GG KGC LRCX LULU
MU NFLX SINA FNSR LNG CIEN AEM SPLK TNA....
In my portfolio AH Sold BZUN @ $46.80
Portfolio CTRP FSLR MOMO SNAP
AH news...FORM UP 6.29%, DRH UP 8%
BZH Down 6.14%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was all over the place on tariff debate. After close Gary Cohn's resigns as top Trump's economic adviser, this news is expected to rattle Wall Street as he was voice of Wall Street being Chief from Goldman Sachs. Slump in market on Wednesday may give some buying opportunities.
BLOG does NOT give buy or sell.
Saleen
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