It is very nice to see indices being higher and Nasdaq leading.......
S&P 500 @ 2748.68, high 2753.85, low 2737.08
Internals are positive by almost 2 to 1
Oil Down 99 cents
Gold Down $5.20
Canadian $ Down 26 tick @ .6866
VIX UP .40% @ 20.04
Portfolio BIDU GG KORS MOMO SQ
Most stocks are UP
@ 2.07 PM following are down :
GG KORS MOMO SPLK AEM FSLR CSIQ
JKS CTRP MRVL NFLX OLED LULU YY
ROKU CHK ABX NKE AAL.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, November 6, 2018
Monday, November 5, 2018
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 2738.31, high 2744.27, low 2717.94
RSI @ 45.87
CMF @ -0.062
Internals were :
UP volume led by 2.35 to 1 in NYSE & .99 to 1 in Nasdaq
Advancing stocks led by 1.80 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk lows were leading by 45 in NYSE & 23 in Nasdaq
VIX UP 2.3% @ 19.96
Oil @ $63.10
Gold $1232.30
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE surprised most participant by being green in DOW & S&P 500, Nasdaq also recovered majority of losses and closed near high of the day. Tuesday could be a choppy day due to US mid term election, a positive close will be a confidence builder. Internals reflected mixed market but it was pretty close to being flat even on Nasdaq.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2738.31, high 2744.27, low 2717.94
RSI @ 45.87
CMF @ -0.062
Internals were :
UP volume led by 2.35 to 1 in NYSE & .99 to 1 in Nasdaq
Advancing stocks led by 1.80 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk lows were leading by 45 in NYSE & 23 in Nasdaq
VIX UP 2.3% @ 19.96
Oil @ $63.10
Gold $1232.30
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE surprised most participant by being green in DOW & S&P 500, Nasdaq also recovered majority of losses and closed near high of the day. Tuesday could be a choppy day due to US mid term election, a positive close will be a confidence builder. Internals reflected mixed market but it was pretty close to being flat even on Nasdaq.
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
Nasdaq is the only loser but coming back fast from low, Dow & S&P 500 are showing green which is a good sign.Indices are near high of the day.
S&P 500 @ 2733.79, high 2734.28, low 2717.94
Internals are mixed with NYSE positive and Nasdaq negative.
Oil UP 30 cents
Gold Down 50 cents
Canadian $ UP 9 cent @ .6902
Portfolio GG KORS MOMO SQ BIDU
Most stocks are down.
@ 2.03 PM following are green :
MOMO FSLR CGC TLRY CIEN EAF JKS LULU
NFLX CHK RIG LNG YELP SPWR GE MCD
SU ULTA MSFT NKE KBH IBM X M CNX..
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2733.79, high 2734.28, low 2717.94
Internals are mixed with NYSE positive and Nasdaq negative.
Oil UP 30 cents
Gold Down 50 cents
Canadian $ UP 9 cent @ .6902
Portfolio GG KORS MOMO SQ BIDU
Most stocks are down.
@ 2.03 PM following are green :
MOMO FSLR CGC TLRY CIEN EAF JKS LULU
NFLX CHK RIG LNG YELP SPWR GE MCD
SU ULTA MSFT NKE KBH IBM X M CNX..
BLOG does NOT give buy or sell.
Saleem
Sunday, November 4, 2018
Trade deal or Fed to take center stage ?
After 3 days of solid UP move we stalled badly on Friday.
Stalling on 4th day can be taken positively or negatively depending on how you read this market.
Last 2 weeks saw many big earnings let down BUT we managed 3 straight win......
Market is more than confusing to say the least.
The real question IS......
Trade deal with China or Fed going to decide direction of this market or Fed will sink us further to new lows.....
Your bet is as good as mine......
I have a very strong sense that China trade agreement is not too far off, IF this happens in next 2 weeks then we rally in anticipation and take out not only 200 DMA but also 50 DMA.....
DOW is already above 200 DMA....which has become leading indicator this year....that is a very strong contrary signal to market participants.
SOX is showing pulse lately which is also encouraging.....
FED is keeping pressure on this market.....
Wage report showing wage inflation above Fed target is cause for concern....
BUT Oil is slumping @ lowest point since April......telling us...all is not well in the world....Worldwide economic slowdown being predicted by oil...
SO Fed is being negated by Oil and potential China trade deal......
Based on this " simplistic 2 bullish and 1 bearish scenario I say this is a pause that was needed and then we go UP "
Lately most Chinese stocks are looking like a bargain IF we get a trade deal...that is a big IF....
Most technology stocks have been trashed either on its own earnings report or in sympathy, they are getting quite attractive...so start your buying list and jump in on next down day.....
Bottom line is....my thesis remain bullish and "risk reward ratio is pretty compelling on most stocks "
Good luck with your own analysis of this difficult TAPE and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Stalling on 4th day can be taken positively or negatively depending on how you read this market.
Last 2 weeks saw many big earnings let down BUT we managed 3 straight win......
Market is more than confusing to say the least.
The real question IS......
Trade deal with China or Fed going to decide direction of this market or Fed will sink us further to new lows.....
Your bet is as good as mine......
I have a very strong sense that China trade agreement is not too far off, IF this happens in next 2 weeks then we rally in anticipation and take out not only 200 DMA but also 50 DMA.....
DOW is already above 200 DMA....which has become leading indicator this year....that is a very strong contrary signal to market participants.
SOX is showing pulse lately which is also encouraging.....
FED is keeping pressure on this market.....
Wage report showing wage inflation above Fed target is cause for concern....
BUT Oil is slumping @ lowest point since April......telling us...all is not well in the world....Worldwide economic slowdown being predicted by oil...
SO Fed is being negated by Oil and potential China trade deal......
Based on this " simplistic 2 bullish and 1 bearish scenario I say this is a pause that was needed and then we go UP "
Lately most Chinese stocks are looking like a bargain IF we get a trade deal...that is a big IF....
Most technology stocks have been trashed either on its own earnings report or in sympathy, they are getting quite attractive...so start your buying list and jump in on next down day.....
Bottom line is....my thesis remain bullish and "risk reward ratio is pretty compelling on most stocks "
Good luck with your own analysis of this difficult TAPE and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, November 2, 2018
Indices closed down .43% to 1.04%......
Indices closed down after being UP sharply on conflicting trade talks with China, I believe it is ongoing now. DOW closed above 200 DMA only index to do so, S&P 500 and Nasdaq below 200 DMA.
S&P 500 @ 2723.06, low 2700.44, high 2756.55
RSI @ 43.53
CMF @ -0.061
Internals were :
Down volume led by 1.30 to 1 in NYSE & 1.01 to 1 in Nasdaq
Declining stocks led by 1.29 to 1 in NYSE & .94 to 1 in Nasdaq
Net new 52 wk lows were leading by 123 in NYSE & 32 in Nasdaq
VIX UP .88% @ 19.51
Oil @ $63.14
Gold @ $1233.40
Canadian $ @ .6887
Stocks which were UP 1% or more included KORS SQ
SPLK VICR FSLR CRUS CIEN JKS ALDR TK GS
MLNX OSTK ULTA X M ......
In my portfolio :
Sold AAPL @ $210.00
Bought BIDU $194.39
Bought MOMO @ $37.10 & $36.70
Bought GG @ $9.65
Here is my portfolio weighting :
MOMO 36.90%
SQ 20.20%
GG 17.60%
KORS 15.20%
BIDU 10.10%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2723.06, low 2700.44, high 2756.55
RSI @ 43.53
CMF @ -0.061
Internals were :
Down volume led by 1.30 to 1 in NYSE & 1.01 to 1 in Nasdaq
Declining stocks led by 1.29 to 1 in NYSE & .94 to 1 in Nasdaq
Net new 52 wk lows were leading by 123 in NYSE & 32 in Nasdaq
VIX UP .88% @ 19.51
Oil @ $63.14
Gold @ $1233.40
Canadian $ @ .6887
Stocks which were UP 1% or more included KORS SQ
SPLK VICR FSLR CRUS CIEN JKS ALDR TK GS
MLNX OSTK ULTA X M ......
In my portfolio :
Sold AAPL @ $210.00
Bought BIDU $194.39
Bought MOMO @ $37.10 & $36.70
Bought GG @ $9.65
Here is my portfolio weighting :
MOMO 36.90%
SQ 20.20%
GG 17.60%
KORS 15.20%
BIDU 10.10%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, November 1, 2018
Indices closed UP 1.06% to 1.75%....NICE !!!!
Indices closed UP.
S&P 500 @ 2740.37, high 2741.67, low 2708.85
RSI @ 45.61
CMF @ -0.060
Internals were :
UP volume led by 2.56 to 1 in NYSE & 5.16 to 1 in Nasdaq
Advancing stocks led by 3.20 to 1 in NYSE & 3.46 to 1 in Nasdaq
Net new 52 wk lows were leading by 111 in NYSE & 38 in Nasdaq
VIX Down 8.90% @ 19.34
Oil @ $63.69
Gold @ $1238.60
Stocks which were UP 3% or more included KORS SQ
AEM GG NVDA SPLK AMD TLRY AMAT AMZN
CRUS BABA CTRP JKS LRCX MRVL MU WB
YY NFLX OLED PANW QRVO SHOP NTNX
ROKU BZUN ALDR TK FEYE LNG WYNN
LVS SINA OSTK ABX SWKS KBH AAL...
AAPL reported a beat in EPS & Sales for Q 4
Guidance for Q 1 was short in Sales by $2 billion
$91 billion vs $93 billion consensus.
AAPL explained shortfall on many reasons first foreign exchange impact, All emerging market currencies have been very weak for a year and may recover against US$ going forward, emerging market sales being lower due to lower currency against US$, third, too many new products, supply of whom may not be enough for demand, last but not least tax rate in Q 1 to be 16.5% vs 15.9%,
all reasons are legitimate.......
AH news....AAPL Down 6.48%, OLED Down 27.11%
SBUX UP 9.18%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was going in the right direction until AAPL reported, strength of this TAPE will be tested tomorrow against AAPL reaction and impact of strong jobs report which is expected @ 190K. I will not be surprised IF we close green on Friday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2740.37, high 2741.67, low 2708.85
RSI @ 45.61
CMF @ -0.060
Internals were :
UP volume led by 2.56 to 1 in NYSE & 5.16 to 1 in Nasdaq
Advancing stocks led by 3.20 to 1 in NYSE & 3.46 to 1 in Nasdaq
Net new 52 wk lows were leading by 111 in NYSE & 38 in Nasdaq
VIX Down 8.90% @ 19.34
Oil @ $63.69
Gold @ $1238.60
Stocks which were UP 3% or more included KORS SQ
AEM GG NVDA SPLK AMD TLRY AMAT AMZN
CRUS BABA CTRP JKS LRCX MRVL MU WB
YY NFLX OLED PANW QRVO SHOP NTNX
ROKU BZUN ALDR TK FEYE LNG WYNN
LVS SINA OSTK ABX SWKS KBH AAL...
AAPL reported a beat in EPS & Sales for Q 4
Guidance for Q 1 was short in Sales by $2 billion
$91 billion vs $93 billion consensus.
AAPL explained shortfall on many reasons first foreign exchange impact, All emerging market currencies have been very weak for a year and may recover against US$ going forward, emerging market sales being lower due to lower currency against US$, third, too many new products, supply of whom may not be enough for demand, last but not least tax rate in Q 1 to be 16.5% vs 15.9%,
all reasons are legitimate.......
AH news....AAPL Down 6.48%, OLED Down 27.11%
SBUX UP 9.18%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was going in the right direction until AAPL reported, strength of this TAPE will be tested tomorrow against AAPL reaction and impact of strong jobs report which is expected @ 190K. I will not be surprised IF we close green on Friday.
BLOG does NOT give buy or sell.
Saleem
Indices UP .82% to 1.57%.....NICE !!!!
Indices are firmly in bullish mode with back to back 3 days UP move. Indices are near high of the day.
S&P 500 @ 2734.42, high 2737.16, low 2708.85
Internals are super strong from 2 to 1 to 6 to 1 in UP volume in Nasdaq
Oil Down $1.78
Gold UP $23.60
Canadian $ UP 66 tick .6914
VIX Down 9.66% @ 19.18
Portfolio AAPL KORS SQ
Most stocks are UP
@ 1.46 following are red :
VICR ESTC GOOG TWTR CHK RIG FSLR
FB ORCL MCD MSFT ULTA M CNX.....
AH AAPL reports, here are the expectations :
Sales Q 4 $61.57 billions, EPS $2.78
Guidance Q 1 Sales $92.91 billions, EPS $4.94
Expecting a huge beat in EPS for Q4......
Reporting @ 430 PM eastern.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2734.42, high 2737.16, low 2708.85
Internals are super strong from 2 to 1 to 6 to 1 in UP volume in Nasdaq
Oil Down $1.78
Gold UP $23.60
Canadian $ UP 66 tick .6914
VIX Down 9.66% @ 19.18
Portfolio AAPL KORS SQ
Most stocks are UP
@ 1.46 following are red :
VICR ESTC GOOG TWTR CHK RIG FSLR
FB ORCL MCD MSFT ULTA M CNX.....
AH AAPL reports, here are the expectations :
Sales Q 4 $61.57 billions, EPS $2.78
Guidance Q 1 Sales $92.91 billions, EPS $4.94
Expecting a huge beat in EPS for Q4......
Reporting @ 430 PM eastern.....
BLOG does NOT give buy or sell.
Saleem
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