Indices closed UP.
S&P 500 @ 3112.76, high 3119.38, low 3102.53
RSI 56.51
CMF @ 0.414
Internals were :
UP volume led by 2.88 to 1 in NYSE & 1.74 to 1 in Nasdaq
Advancing stocks led by 2.35 to 1 in NYSE & 1.58 to 1 in Nasdaq
Net new 52 wk highs were leading by 94 in NYSE & 23 in Nasdaq
VIX Down 7.27% @ 14.80
Oil @ $58.43
Gold @ $1480.20
Stocks which were UP 1% or more included AMD SQ XLNX
JKS CSIQ MU LULU LRCX SHOP ROKU PRNB AMAT
CTRP EXPE GOOG OLED QRVO RIG YELP WYNN
LVS GS MS TRIP SU SWKS NKE X.....
AH news....ESTC Down 14.58%, DRNA Down 8.03%
AH Futures Down
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE was UP and internals improved on another trade progress news. We did not close @ best level of the day after 3 days of selling, but we got a better tone of the market. There is an intense debate of going lower @ lows and going higher @ highs, truth is somewhere in between. Let us hope there is another green close to confirm direction of today's move.
BLOG does NOT give buy or sell.
Saleem
Wednesday, December 4, 2019
Indices UP .65% to .76%.....NICE !!!!
Indices are sharply higher due to guess what ?...optimism about a trade deal.....between USA & CHINA...tomorrow It all may reverse on one tweet or statement to the contrary.....Indices are near high of the day.
S&P 500 @ 3116.77, high 3118.02, low 3102.53
Internals are positive by 3 to 1
Oil UP $2.29
Gold Down $5.20
Canadian $ UP 97 tick @ .6803
VIX Down 9.77% @ 14.40
In my portfolio...added 120% MRVL @ $24.20
Portfolio CIEN LSCC MRVL TWTR
Most stocks are UP.
@ 2.17 PM following are red :
LSCC MRVL BYND WB TLRY TWLO MOMO
HUYA TSLA SPLK CGC CRON PANW YY
NTNX AMZN CMG V....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3116.77, high 3118.02, low 3102.53
Internals are positive by 3 to 1
Oil UP $2.29
Gold Down $5.20
Canadian $ UP 97 tick @ .6803
VIX Down 9.77% @ 14.40
In my portfolio...added 120% MRVL @ $24.20
Portfolio CIEN LSCC MRVL TWTR
Most stocks are UP.
@ 2.17 PM following are red :
LSCC MRVL BYND WB TLRY TWLO MOMO
HUYA TSLA SPLK CGC CRON PANW YY
NTNX AMZN CMG V....
BLOG does NOT give buy or sell.
Saleem
Tuesday, December 3, 2019
Indices closed down .55% to 1.01%....
Indices closed down.
S&P 500 @ 3093.20, low 3070.33, high 3094.97
RSI @ 57.31
CMF @ 0.362
Internals were :
Down volume led by 2.00 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 1.62 to 1 in NYSE & 1.65 to 1 in Nasdaq
Net new 52 wk lows were leading by 53 in NYSE & 25 in Nasdaq
VIX UP 7.04% @ 15.96
Oil @ $56.10
Gold @ $1484.40
AH news.....MRVL UP 3.14%, RAPT UP 11.74%
HQY UP 14.14%, IMMU Down 7.37%
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
MRVL earnings report was a very good report given softness of orders in China, thanks to trade jitters. MRVL beat in Sales and EPS in line for Q 3, for Q4 MRVL is guiding way above Sales expectations, EPS 15 to 19 cents which will be revised upon close of an unit to NXPI, means It will be guided higher in EPS also....MRVL in AH was UP 3.14%....
About market, TAPE went through 3rd day of pullback to deal with overbought conditions, trade back and forth was just an excuse. Trade stalemate is now in 16th round with no end in sight, market has discounted and knows about few pitfalls of that indecision. Hoping that we get another trade driven positive trigger to bring us back to a green close, that is the way it goes.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3093.20, low 3070.33, high 3094.97
RSI @ 57.31
CMF @ 0.362
Internals were :
Down volume led by 2.00 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 1.62 to 1 in NYSE & 1.65 to 1 in Nasdaq
Net new 52 wk lows were leading by 53 in NYSE & 25 in Nasdaq
VIX UP 7.04% @ 15.96
Oil @ $56.10
Gold @ $1484.40
AH news.....MRVL UP 3.14%, RAPT UP 11.74%
HQY UP 14.14%, IMMU Down 7.37%
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
MRVL earnings report was a very good report given softness of orders in China, thanks to trade jitters. MRVL beat in Sales and EPS in line for Q 3, for Q4 MRVL is guiding way above Sales expectations, EPS 15 to 19 cents which will be revised upon close of an unit to NXPI, means It will be guided higher in EPS also....MRVL in AH was UP 3.14%....
About market, TAPE went through 3rd day of pullback to deal with overbought conditions, trade back and forth was just an excuse. Trade stalemate is now in 16th round with no end in sight, market has discounted and knows about few pitfalls of that indecision. Hoping that we get another trade driven positive trigger to bring us back to a green close, that is the way it goes.
BLOG does NOT give buy or sell.
Saleem
Indices down .79% to 1.16%.....
Indices were sharply lower today on real status of where trade agreement with CHINA stands, It is now after US election, I am sure it will be updated to " near agreement " on or around December 15 levy of new duties?
S&P 500 @ 3086.66, low 3070.33, high 3090.09
Internals are negative by 1.9 to 1
Oil UP 38 cents
Gold UP $14.30
Canadian $ UP 16 tick .6708
VIX UP 7.65% @ 16.05...high today...17.99
In my portfolio ..Bought MRVL @ $24.79
Portfolio CIEN LSCC MRVL TWTR
Most stocks are down.
@ 1.57 PM following are green :
LSCC SQ TLRY SPWR TWLO TSLA NEM AEM
GLD SHOP ROKU VICR CGC CRON CSIQ
CTRP GOOG PANW SNAP NTNX MA
SINA ULTA KBH V....
MRVL reports after close today, here is the expectations :
Current Q Sales $664.51 millions, EPS 17 cents
Next Q Sales guidance $699.50 millions, EPS 21 cents
Expecting a beat in EPS......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3086.66, low 3070.33, high 3090.09
Internals are negative by 1.9 to 1
Oil UP 38 cents
Gold UP $14.30
Canadian $ UP 16 tick .6708
VIX UP 7.65% @ 16.05...high today...17.99
In my portfolio ..Bought MRVL @ $24.79
Portfolio CIEN LSCC MRVL TWTR
Most stocks are down.
@ 1.57 PM following are green :
LSCC SQ TLRY SPWR TWLO TSLA NEM AEM
GLD SHOP ROKU VICR CGC CRON CSIQ
CTRP GOOG PANW SNAP NTNX MA
SINA ULTA KBH V....
MRVL reports after close today, here is the expectations :
Current Q Sales $664.51 millions, EPS 17 cents
Next Q Sales guidance $699.50 millions, EPS 21 cents
Expecting a beat in EPS......
BLOG does NOT give buy or sell.
Saleem
Monday, December 2, 2019
Indices closed down .86% to 1.12%....
Indices closed down
S&P 500 @ 3113.87, low 3110.78, high 3144.31
RSI @ 58.13
CMF @ 0.297
Internals were :
Down volume led by 2.39 to 1 in NYSE & 2.07 to 1 in Nasdaq
Declining stocks led by 2.66 to 1 in NYSE & 2.48 to 1 in Nasdaq
Net new 52 wk highs were leading by 36 in NYSE & 35 in Nasdaq
VIX UP 18.15% @ 14.91, high today 15.27....
Oil @ $55.96
Gold @ $1469.20
AH news....HES Down 10.28%, GTX Down 7.85%
ASLN UP 9.62%, TRVG UP 10.00%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE got its first major hit and closed near low of the day. Down day like this is to be expected after we have gone up so much in last 6 weeks. Some technicians who are keeper of indicators are seeing dire things, which needs to be factored in until they also are proven wrong. Yes It Is a traders market now than investing in near term.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3113.87, low 3110.78, high 3144.31
RSI @ 58.13
CMF @ 0.297
Internals were :
Down volume led by 2.39 to 1 in NYSE & 2.07 to 1 in Nasdaq
Declining stocks led by 2.66 to 1 in NYSE & 2.48 to 1 in Nasdaq
Net new 52 wk highs were leading by 36 in NYSE & 35 in Nasdaq
VIX UP 18.15% @ 14.91, high today 15.27....
Oil @ $55.96
Gold @ $1469.20
AH news....HES Down 10.28%, GTX Down 7.85%
ASLN UP 9.62%, TRVG UP 10.00%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE got its first major hit and closed near low of the day. Down day like this is to be expected after we have gone up so much in last 6 weeks. Some technicians who are keeper of indicators are seeing dire things, which needs to be factored in until they also are proven wrong. Yes It Is a traders market now than investing in near term.
BLOG does NOT give buy or sell.
Saleem
Indices down .78% to 1.10%......
Indices are lower on poor economic data in US and ongoing trade battle of US with rest of the world. Chinese economic report was much better than expected, so much for Chinese economy hurting by US tactics with duties.....fake news right?
S&P 500 @ 3117.61, low 3110.78, high 3144.31
Internals are negative by 2.7 to 1
Oil UP 81 cents
Gold Down $3.29
Canadian $ Down 23 tick @ .6702
VIX UP 13.79% @ 14.36
Portfolio CIEN LSCC TWTR
Most stocks are down
@ 1.18 PM following are green :
WB JKS MCD IQ TSLA NEM AEM VICR
CSIQ CTRP LNG LVS TRIP MGA SINA
MCD SU ULTA SWKS NKE X M ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3117.61, low 3110.78, high 3144.31
Internals are negative by 2.7 to 1
Oil UP 81 cents
Gold Down $3.29
Canadian $ Down 23 tick @ .6702
VIX UP 13.79% @ 14.36
Portfolio CIEN LSCC TWTR
Most stocks are down
@ 1.18 PM following are green :
WB JKS MCD IQ TSLA NEM AEM VICR
CSIQ CTRP LNG LVS TRIP MGA SINA
MCD SU ULTA SWKS NKE X M ....
BLOG does NOT give buy or sell.
Saleem
Sunday, December 1, 2019
8 week rally in market...where next?
It has been 8 weeks since we started to rally in early October, It is important to factor this in your near term trading / Investing decision.
Nobody can predict how long this rally can go on, BUT being aware of this stretch is critical.
We can slump for 2 days very easily....
We can also do a slow grind to higher highs...this is a more probable scenario.....
When we slowly go up with few pauses, that is where rotation come in handy.
I definitely see rotation and base building for stronger stocks...
Also advisable to stay in the market with some powder dry.
Here is a look @ my favorite and reliable indicator RSI..and they are :
Nasdaq 70.20
S&P 500 69.34
DOW 66.02
IWM 65.95
SOX 55.31
Nasdaq & S&P 500 are overbought, not deeply though.
Russell 2000 & SOX are relative bargain, SOX @ very attractive entry point after seeing selling.
As we can see that some sector of this TAPE are overbought and some are bargain, that is when rotation is a very good strategy....
SO stick to tried and true RSI indicator and position accordingly......
Do not overstay your welcome in stocks which has made you good money, book your profit and move on to next great idea of yours.
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
Nobody can predict how long this rally can go on, BUT being aware of this stretch is critical.
We can slump for 2 days very easily....
We can also do a slow grind to higher highs...this is a more probable scenario.....
When we slowly go up with few pauses, that is where rotation come in handy.
I definitely see rotation and base building for stronger stocks...
Also advisable to stay in the market with some powder dry.
Here is a look @ my favorite and reliable indicator RSI..and they are :
Nasdaq 70.20
S&P 500 69.34
DOW 66.02
IWM 65.95
SOX 55.31
Nasdaq & S&P 500 are overbought, not deeply though.
Russell 2000 & SOX are relative bargain, SOX @ very attractive entry point after seeing selling.
As we can see that some sector of this TAPE are overbought and some are bargain, that is when rotation is a very good strategy....
SO stick to tried and true RSI indicator and position accordingly......
Do not overstay your welcome in stocks which has made you good money, book your profit and move on to next great idea of yours.
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
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