Indices are mixed on selective buying.Indices are near high of the day on higher oil.
S&P 500 @ 2433.31, low 2428.12, high 2434.92
Internals are mixed
Oil UP 69 cents
Gold UP $13.80
Canadian $ UP 19 tick @ .6548
VIX UP 3.57% @ 10.43
In my portfolio Bought LULU @ $51.95
Portfolio BABA FB LULU MOMO OCLR SWIR OLED WB
Most stocks are UP
@ 2.27 following are red :
LULU SWIR TWTR OTEX BIDU BAC UA V SBUX MA
LEN CSIQ YHOO SINA EXPE YELP CIEN WYNN
TRIP MLNX MA DATA MGA ORCL MS MCD
ULTA NKE X M PANW.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, June 6, 2017
Monday, June 5, 2017
Indices closed down .10% to .16%......
Indices closed lower.
S&P 500 @ 2436.10, low 2434.32, high 2439.55
RSI @ 67.68
CMF @ 0.329
Internals were :
Down volume led by 1.39 to 1 in NYSE & 1.08 to 1 in Nasdaq
Declining stocks led by 1.65 to 1 in NYSE & 1.83 to 1 in Nasdaq
Net new 52 wk highs were leading by 122 in NYSE & 148 in Nasdaq
VIX UP 3.28% @ 10.07
Oil @ $47.40
Gold @ $1282.70
AH ER....WGO UP 4.54%, IGT UP 3.54%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was under pressure from many negative news, whole day it was a very narrow range trading. Nasdaq made a new intraday all time high.Internals were weak. On any weakness, strategic buying works out. Pruning portfolio from weak holdings also works.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2436.10, low 2434.32, high 2439.55
RSI @ 67.68
CMF @ 0.329
Internals were :
Down volume led by 1.39 to 1 in NYSE & 1.08 to 1 in Nasdaq
Declining stocks led by 1.65 to 1 in NYSE & 1.83 to 1 in Nasdaq
Net new 52 wk highs were leading by 122 in NYSE & 148 in Nasdaq
VIX UP 3.28% @ 10.07
Oil @ $47.40
Gold @ $1282.70
AH ER....WGO UP 4.54%, IGT UP 3.54%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was under pressure from many negative news, whole day it was a very narrow range trading. Nasdaq made a new intraday all time high.Internals were weak. On any weakness, strategic buying works out. Pruning portfolio from weak holdings also works.
BLOG does NOT give buy or sell.
Saleem
Indices down .05% to .08%.....
Indices are lower on overbought condition, terror in London, tension in Qatar and lower oil.
S&P 500 @ 2437.46, low 2434.32, high 2439.55
Internals are mostly negative
Oil Down 27 cents
Gold UP $1.90
Canadian $ UP 14 tick @ .6534
VIX Down .82% @ 9.67
Portfolio BABA FB MOMO OCLR SWIR OLED WB
Most stocks are down
@ 2.19 following are up by 1% or more :
MOMO OCLR OLED WB TSLA AMD NVDA CNQ
CY UA FCX EXPE LNG YELP SPWR MS CRUS
KORS PANW LRCX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2437.46, low 2434.32, high 2439.55
Internals are mostly negative
Oil Down 27 cents
Gold UP $1.90
Canadian $ UP 14 tick @ .6534
VIX Down .82% @ 9.67
Portfolio BABA FB MOMO OCLR SWIR OLED WB
Most stocks are down
@ 2.19 following are up by 1% or more :
MOMO OCLR OLED WB TSLA AMD NVDA CNQ
CY UA FCX EXPE LNG YELP SPWR MS CRUS
KORS PANW LRCX.....
BLOG does NOT give buy or sell.
Saleem
Sunday, June 4, 2017
Remember when US stock market used to crash near 60 RSI?
Many pure wall street theorist used to say sell stock when RSI was near 60, and buy stock when they were near 30.......
How times have changed, you will be hard pressed to find any quality stocks near 30 RSI and every quality stock is over 60 RSI, some even higher than 70.....and nobody is worried?
Many new traders or investor are not even aware of what an oversold market looks like......they have not seen any oversold condition since 2009......when S&P 500 was @ 688.......now we are @ 2439.07, a gain of 1751 points or a gain of 255% in 8 years........31.8% gain annually vs historical average of 8%.....
The real question is ......are we near a major top like 2000......
Very few analyst are wondering about this euphoria, new all time high day after day and week after week, even month after month.......
AMZN trading @ 76.67 RSI
GOOG...................74.00
SHOP.....................73.30
Nasdaq 74.49
SOX.......................70.97
BBRY....................70.69
S&P 500...............69.56
DOW.....................64.75
This is just a sample of a very disturbing picture......
NOW.....cheerleaders will tell you it is not 2000 valuation .......where eyeballs were the metrics used...but fundamental analysis, which has lasted since birth of Wall & Broad street.....are well served by following "rules of engagement".....60 is overbought.........
Every euphoria has ended badly, not a single one has been spared since first trading days, railroads, plastic, oil, Interstate boom, Y2K....all met the same fate.....a long drawn out bear market which lasted anywhere from 5 to 7 years .......
Are we close to anything like that........
In 2000 S&P 500 peaked @ 1500+
In 2017 June we are @ 2439......a gain of 939 points or 62.6% or annualized gain of 3.68%.....well below 8% average gains.......
To get to average gain of 8% per year, we need to get to 3540 in S&P 500...which is another 1100 points away......or we should go up another 45% higher......
Normally we always overshoot.....so a 10% annualized gain is not out of question......
BUT...before we go too far, there is a very good chance of 5% pullback very soon......
Keep all this stat in your mind in any future allocation....
Good luck with your own analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
How times have changed, you will be hard pressed to find any quality stocks near 30 RSI and every quality stock is over 60 RSI, some even higher than 70.....and nobody is worried?
Many new traders or investor are not even aware of what an oversold market looks like......they have not seen any oversold condition since 2009......when S&P 500 was @ 688.......now we are @ 2439.07, a gain of 1751 points or a gain of 255% in 8 years........31.8% gain annually vs historical average of 8%.....
The real question is ......are we near a major top like 2000......
Very few analyst are wondering about this euphoria, new all time high day after day and week after week, even month after month.......
AMZN trading @ 76.67 RSI
GOOG...................74.00
SHOP.....................73.30
Nasdaq 74.49
SOX.......................70.97
BBRY....................70.69
S&P 500...............69.56
DOW.....................64.75
This is just a sample of a very disturbing picture......
NOW.....cheerleaders will tell you it is not 2000 valuation .......where eyeballs were the metrics used...but fundamental analysis, which has lasted since birth of Wall & Broad street.....are well served by following "rules of engagement".....60 is overbought.........
Every euphoria has ended badly, not a single one has been spared since first trading days, railroads, plastic, oil, Interstate boom, Y2K....all met the same fate.....a long drawn out bear market which lasted anywhere from 5 to 7 years .......
Are we close to anything like that........
In 2000 S&P 500 peaked @ 1500+
In 2017 June we are @ 2439......a gain of 939 points or 62.6% or annualized gain of 3.68%.....well below 8% average gains.......
To get to average gain of 8% per year, we need to get to 3540 in S&P 500...which is another 1100 points away......or we should go up another 45% higher......
Normally we always overshoot.....so a 10% annualized gain is not out of question......
BUT...before we go too far, there is a very good chance of 5% pullback very soon......
Keep all this stat in your mind in any future allocation....
Good luck with your own analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, June 2, 2017
Indices closed UP .29% to .94%...NICE !!!!
Indices closed near top of the range despite poor jobs report and lower oil. All indices closed @ new all time highs.
S&P 500 @ 2439.07, high 2440.23, low 2427.71
RSI @ 69.56
CMF @ .387
Internals were:
UP volume led by .85 to 1 in NYSE & 1.74 to 1 in Nasdaq
Advancing stocks led by 1.40 to 1 in NYSE & 2.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 307 in NYSE &
307 in Nasdaq ( not a typo )
VIX Down 1.42% @ 9.75
Oil @ $47.66
Gold @ $1280.20
Canadian $ @ .6499
Stocks which were UP 1% or more included FB MOMO OLED
LULU IAG NTES AMZN MU AAPL NFLX UA SBUX MA
JKS LEN MSFT DNKN EBAY CIEN SHOP SPLK ULTA
NKE KBH OPK LRCX....
Here is my portfolio weighting :
OCLR 28.28%
FB 25.12%
OLED 13.68%
WB 12.19%
MOMO 8.89%
SWIR 6.04%
BABA 5.80%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2439.07, high 2440.23, low 2427.71
RSI @ 69.56
CMF @ .387
Internals were:
UP volume led by .85 to 1 in NYSE & 1.74 to 1 in Nasdaq
Advancing stocks led by 1.40 to 1 in NYSE & 2.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 307 in NYSE &
307 in Nasdaq ( not a typo )
VIX Down 1.42% @ 9.75
Oil @ $47.66
Gold @ $1280.20
Canadian $ @ .6499
Stocks which were UP 1% or more included FB MOMO OLED
LULU IAG NTES AMZN MU AAPL NFLX UA SBUX MA
JKS LEN MSFT DNKN EBAY CIEN SHOP SPLK ULTA
NKE KBH OPK LRCX....
Here is my portfolio weighting :
OCLR 28.28%
FB 25.12%
OLED 13.68%
WB 12.19%
MOMO 8.89%
SWIR 6.04%
BABA 5.80%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, June 1, 2017
Indices closed UP .65% to .78%....NICE !!!!
Indices closed UP.
S&P 500 @ 2430.06, high 2430.06, low 2413.54
RSI @ 66.98
CMF @ 0.380
Internals were :
UP volume led by 4.12 to 1 in NYSE & 3.23 to 1 in Nasdaq
Advancing stocks led by 4.73 to 1 in NYSE & 3.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 249 in NYSE & 188 in Nasdaq
Oil @ $48.36
Gold @ $1270.10
VIX Down 5.00% @ 9.89
Stocks which were UP 1% or more BABA OCLR SWIR OLED
TWTR NTES FNSR QRVO CNQ CY UA LVS WYNN LEN
EXPE EBAY YUM FFIV VRX TK RIG LNG FEYE JKS
YELP SPWR CIEN GS TRIP MGA MS SHOP MCD
CRUS SWKS KBH OPK CMG AAL M PANW
CNX...
AH ER :
LULU UP 16.09%, AVGO UP 4.22%
ZUMZ Down 8.3%, RH Down 23.35%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE rallied on better than expected jobs data from ADP, that bodes well for Friday's jobs report @ 830AM. Dow & S&P 500 closed @ absolute high of the day, while Nasdaq missed it by 24 tick. S&P 500 and Nasdaq closed @ new all time high, Dow is only 56 points away. Internals were strongest i have seen in a long time. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2430.06, high 2430.06, low 2413.54
RSI @ 66.98
CMF @ 0.380
Internals were :
UP volume led by 4.12 to 1 in NYSE & 3.23 to 1 in Nasdaq
Advancing stocks led by 4.73 to 1 in NYSE & 3.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 249 in NYSE & 188 in Nasdaq
Oil @ $48.36
Gold @ $1270.10
VIX Down 5.00% @ 9.89
Stocks which were UP 1% or more BABA OCLR SWIR OLED
TWTR NTES FNSR QRVO CNQ CY UA LVS WYNN LEN
EXPE EBAY YUM FFIV VRX TK RIG LNG FEYE JKS
YELP SPWR CIEN GS TRIP MGA MS SHOP MCD
CRUS SWKS KBH OPK CMG AAL M PANW
CNX...
AH ER :
LULU UP 16.09%, AVGO UP 4.22%
ZUMZ Down 8.3%, RH Down 23.35%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE rallied on better than expected jobs data from ADP, that bodes well for Friday's jobs report @ 830AM. Dow & S&P 500 closed @ absolute high of the day, while Nasdaq missed it by 24 tick. S&P 500 and Nasdaq closed @ new all time high, Dow is only 56 points away. Internals were strongest i have seen in a long time. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .57% to .62%....NICE !!!!
Indices are higher on better than expected jobs data from ADP. S&P 500 and Nasdaq making new all time highs. Indices are near high of the day.
S&P 500 @ 2425.89, high 2426.94, low 2413.54
Internals are positive by almost 4 to 1
Oil UP 28 cents
Gold Down $6.50
Canadian $ Down 17 tick @ .6484
VIX Down 2.50% @ 10.15
Portfolio BABA FB MOMO OCLR SWIR OLED WB
Most stocks are UP
@ 2.35 PM following are red :
FB MOMO TSLA AMD IAG NVDA MU NFLX
COH SINA ABX AEM MSFT NKE V X ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2425.89, high 2426.94, low 2413.54
Internals are positive by almost 4 to 1
Oil UP 28 cents
Gold Down $6.50
Canadian $ Down 17 tick @ .6484
VIX Down 2.50% @ 10.15
Portfolio BABA FB MOMO OCLR SWIR OLED WB
Most stocks are UP
@ 2.35 PM following are red :
FB MOMO TSLA AMD IAG NVDA MU NFLX
COH SINA ABX AEM MSFT NKE V X ....
BLOG does NOT give buy or sell.
Saleem
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