Indices are staging an oversold bounce after Chinese explained and supported YUAN.
S&P 500 @ 2866.09, high 2873.61, low 2847.42
Internals are positive
Oil Down 49 cents
Gold UP $7.20
Canadian $ Down 71 tick @ .6716
VIX Down 14.40% @ 21.05
Portfolio AMD BZUN CIEN CRON FB TSLA
Most stocks are UP
@ 2.12 PM following are red :
HUYA SQ BIDU LYFT ROKU AAL PHM
FFIV PANW CHK RIG FEYE WYNN
LVS IBM XLNX X CNX....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 6, 2019
Monday, August 5, 2019
Indices closed down 2.90% to 3.47%.....
Indices closed down.
S&P 500 @ 2844.74, low 2822.12, high 2898.07
RSI @ 28.01
CMF @ 0.128
Internals were :
Down volume led by 10.63 to 1 in NYSE & 5.81 to 1 in Nasdaq
Declining stocks led by 6.39 to 1 in NYSE & 6.46 to 1 in Nasdaq
Net new 52 wk lows were leading by 147 in NYSE & 227 in Nasdaq
VIX UP 39.64% @ 24.59
Oil @ $54.69
Gold @ $1464.60
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE reacted negatively to US / China tit for tat strategy to deal with their trade dispute, now we have entered another round of name calling dubbing China currency manipulator, now it is China's turn to give a new label to USA. While all these are so called negotiating strategies for a trade deal BUT investors are caught in the middle as bait. We almost suffered 1000 point drop in DOW before recovering to down 767. Futures are sharply lower again to 362 lower in DOW. Let us hope someone needs to blink as playing tough is causing deep financial losses to worldwide investors now.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2844.74, low 2822.12, high 2898.07
RSI @ 28.01
CMF @ 0.128
Internals were :
Down volume led by 10.63 to 1 in NYSE & 5.81 to 1 in Nasdaq
Declining stocks led by 6.39 to 1 in NYSE & 6.46 to 1 in Nasdaq
Net new 52 wk lows were leading by 147 in NYSE & 227 in Nasdaq
VIX UP 39.64% @ 24.59
Oil @ $54.69
Gold @ $1464.60
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE reacted negatively to US / China tit for tat strategy to deal with their trade dispute, now we have entered another round of name calling dubbing China currency manipulator, now it is China's turn to give a new label to USA. While all these are so called negotiating strategies for a trade deal BUT investors are caught in the middle as bait. We almost suffered 1000 point drop in DOW before recovering to down 767. Futures are sharply lower again to 362 lower in DOW. Let us hope someone needs to blink as playing tough is causing deep financial losses to worldwide investors now.
BLOG does NOT give buy or sell.
Saleem
Indices down 2.91% to 3.57%......
China retaliated by lowering its currency to reduce impact of higher tariff in USA and stopped buying agricultural products from USA... a two prong attack to 10% proposed hike in import duties for Chinese goods......
Now latest tweet is for Fed to lower interest rates to deal with Chinese Yuan devaluation....so it goes on & on......till exhaustion sets in.....
Nasdaq in general and Chinese / US Semiconductor stocks in particular are being trashed.....
S&P 500 @ 2845.87, low 2844.31, high 2898.07
Internals are negative by minimum 8 to 1.....a deeply oversold condition.....
Oil Down 99 cents
Gold UP $19.30
Canadian $ UP 8 tick @ .6804
VIX UP 30.38% @ 22.96...near high of the day....
Portfolio AMD BZUN CIEN CRON FB TSLA
Most stocks are down
@ 2.11 PM following are green :
NEM AEM GLD NIU OSTK.....
BLOG does NOT give buy or sell.
Saleem
Now latest tweet is for Fed to lower interest rates to deal with Chinese Yuan devaluation....so it goes on & on......till exhaustion sets in.....
Nasdaq in general and Chinese / US Semiconductor stocks in particular are being trashed.....
S&P 500 @ 2845.87, low 2844.31, high 2898.07
Internals are negative by minimum 8 to 1.....a deeply oversold condition.....
Oil Down 99 cents
Gold UP $19.30
Canadian $ UP 8 tick @ .6804
VIX UP 30.38% @ 22.96...near high of the day....
Portfolio AMD BZUN CIEN CRON FB TSLA
Most stocks are down
@ 2.11 PM following are green :
NEM AEM GLD NIU OSTK.....
BLOG does NOT give buy or sell.
Saleem
Sunday, August 4, 2019
US stock market ready for an oversold bounce.....
Markets has been trashed on many disappointments.......
Fed did not come through with a clear cut interest rate policy.....two disagreed even on modest .25% rate cut....
China USA trade war is accelerating into ridiculous level, now its Chinese turn to turn the heat on USA with new tariffs.....
Imported goods will cause inflation in US to go beyond Fed's comfort level.....thus interest rate picture will be further messed up.
USA may start another trade war with EU.....BMW is in direct sight of next tweet.....
All of the above is not what US stock market normally lives with, market hates uncertainty and these issues are going in overdrive on non resolution mode.....
SO....US Indices promptly went from a new all time high to below 50 DMA in 8 trading session....fastest descent I have observed from strong technicals to total breakdown.....
SO....we are the mercy of next tweet on a daily basis and it may not get better in near term.....to many battles being waged with tweets as a weapon and strategy......
BUT markets do stage an oversold bounce....where we are sitting right now.....
We may do series of RETEST of lows and hopefully we may be successful right here....
Many many stocks are performing well which is quite admirable in current environment...who could have guessed that TWTR will make a new high in this environment when FB is struggling with 50 DMA.....
GOOG CMG MTCH and LRCX are other all star stocks......
VIX has given clear signal about a direction change in process by turning back from 20 area to close @ 17.61 on a negative Friday TAPE.
SO...hopefully we have the right stocks in our portfolio going forward, it is not the same market which we have seen......
FB had good earnings report and was promptly send south since...
AAPL had great earnings, it has given back all its gains....
Try to do strategic trades as many good results are being ignored.....
Good luck with your own analysis and your comfort level with tweets and its after effects.
BLOG does NOT give buy or sell.
Saleem
Fed did not come through with a clear cut interest rate policy.....two disagreed even on modest .25% rate cut....
China USA trade war is accelerating into ridiculous level, now its Chinese turn to turn the heat on USA with new tariffs.....
Imported goods will cause inflation in US to go beyond Fed's comfort level.....thus interest rate picture will be further messed up.
USA may start another trade war with EU.....BMW is in direct sight of next tweet.....
All of the above is not what US stock market normally lives with, market hates uncertainty and these issues are going in overdrive on non resolution mode.....
SO....US Indices promptly went from a new all time high to below 50 DMA in 8 trading session....fastest descent I have observed from strong technicals to total breakdown.....
SO....we are the mercy of next tweet on a daily basis and it may not get better in near term.....to many battles being waged with tweets as a weapon and strategy......
BUT markets do stage an oversold bounce....where we are sitting right now.....
We may do series of RETEST of lows and hopefully we may be successful right here....
Many many stocks are performing well which is quite admirable in current environment...who could have guessed that TWTR will make a new high in this environment when FB is struggling with 50 DMA.....
GOOG CMG MTCH and LRCX are other all star stocks......
VIX has given clear signal about a direction change in process by turning back from 20 area to close @ 17.61 on a negative Friday TAPE.
SO...hopefully we have the right stocks in our portfolio going forward, it is not the same market which we have seen......
FB had good earnings report and was promptly send south since...
AAPL had great earnings, it has given back all its gains....
Try to do strategic trades as many good results are being ignored.....
Good luck with your own analysis and your comfort level with tweets and its after effects.
BLOG does NOT give buy or sell.
Saleem
Friday, August 2, 2019
Indices closed down .37% to 1.32%.....
Indices closed down, in that process all 3 major Indices went below 50 DMA BUT closed above, a sign that we may have seen support.
S&P 500 @ 2932.05, low 2914.11, high 2945.50
RSI @ 39.85
CMF @ 0.127
Internals were :
Down volume led by 2.08 to 1 in NYSE & 2.20 to 1 in Nasdaq
Declining stocks led by 1.77 to 1 in NYSE & 2.21 to 1 in Nasdaq
Net new 52 wk high were leading by 5 in NYSE & lows by 135 in Nasdaq
VIX Down 1.45% @ 17.61
Oil @ $55.66
Gold @ $1457.50
Canadian $ @ .6779
In my portfolio bought BZUN @ $44.78
Stocks which closed green included CRON TSLA
TWTR HUYA MU NIU CGC TLRY WB YELP
MCD CMG M CNX......
Here is my portfolio weighting :
FB 26.20%
TSLA 26.00%
AMD 21.20%
CIEN 17.80%
BZUN 7.60%
CRON 1.20%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2932.05, low 2914.11, high 2945.50
RSI @ 39.85
CMF @ 0.127
Internals were :
Down volume led by 2.08 to 1 in NYSE & 2.20 to 1 in Nasdaq
Declining stocks led by 1.77 to 1 in NYSE & 2.21 to 1 in Nasdaq
Net new 52 wk high were leading by 5 in NYSE & lows by 135 in Nasdaq
VIX Down 1.45% @ 17.61
Oil @ $55.66
Gold @ $1457.50
Canadian $ @ .6779
In my portfolio bought BZUN @ $44.78
Stocks which closed green included CRON TSLA
TWTR HUYA MU NIU CGC TLRY WB YELP
MCD CMG M CNX......
Here is my portfolio weighting :
FB 26.20%
TSLA 26.00%
AMD 21.20%
CIEN 17.80%
BZUN 7.60%
CRON 1.20%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 1, 2019
Indices closed down .79% to 1.05%....
Indices closed down.
S&P 500 closed @ 2953.56, low 2945.23, high 3013.59
RSI @ 44.12
CMF @ 0.147
Internals were:
Down volume led by 2.76 to 1 in NYSE & 2.02 to 1 in Nasdaq
Declining stocks led by 1.87 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 173 in NYSE & lows by 27 in Nasdaq
VIX UP 10.86% @ 17.87
Oil @ $53.95
Gold @ $1432.40
AH news...APHA UP 31.73%, OLED UP 7.22%
FTNT UP 11.36%, GLUU DOWN 28.85%
SQ DOWN 6.77%
SQ earnings report was a beat on Sales & EPS by 5 cents, guidance was less than expected by a small amount, EPS short by a penny. Conference call was business as usual, Q 4 could be a better time to be in SQ, thus my exit in AH.
In my portfolio :
Sold IQ @ $17.60
Sold SQ @ $75.48
AH Futures Down
AH Asian Market Down
AH Oil & Gold UP
About market, TAPE was in a tailspin due to tweet about new import tax on Chinese imports. This reversal in market is very disturbing, we have to see how we close on Friday. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 2953.56, low 2945.23, high 3013.59
RSI @ 44.12
CMF @ 0.147
Internals were:
Down volume led by 2.76 to 1 in NYSE & 2.02 to 1 in Nasdaq
Declining stocks led by 1.87 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 173 in NYSE & lows by 27 in Nasdaq
VIX UP 10.86% @ 17.87
Oil @ $53.95
Gold @ $1432.40
AH news...APHA UP 31.73%, OLED UP 7.22%
FTNT UP 11.36%, GLUU DOWN 28.85%
SQ DOWN 6.77%
SQ earnings report was a beat on Sales & EPS by 5 cents, guidance was less than expected by a small amount, EPS short by a penny. Conference call was business as usual, Q 4 could be a better time to be in SQ, thus my exit in AH.
In my portfolio :
Sold IQ @ $17.60
Sold SQ @ $75.48
AH Futures Down
AH Asian Market Down
AH Oil & Gold UP
About market, TAPE was in a tailspin due to tweet about new import tax on Chinese imports. This reversal in market is very disturbing, we have to see how we close on Friday. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices down .62% to .77%.....
Everything was fine on Wall Street and markets were rebounding sharply UP from Fed debacle, then we got the tweet and we are tumbling sharply on escalating trade war between USA & China, US plan to impose 10% duty on additional $300 Billion worth of imports from China.....
S&P 500 @ 2955.51, low 2952.65, high 3013.59
Internals are negative
Oil Down $4.36
Gold UP $12.40
Canadian $ Down 30 tick @ .6781
VIX UP 16.87% @ 18.84
Portfolio AMD CIEN CRON FB IQ SQ TSLA
Most stocks are down
@ 2.26 PM following are green :
SQ NEM AEM GLD SHOP MTCH NIU PHM
FSLR CRUS CSIQ JKS YELP SPWR MA
MCD MSFT KBH IBM V.....
SQ reports AH, here are the expectations :
Sales Q 2 $557.07 Million, EPS 16 cents
Guidance Q 3 Sales $598.96 Million, EPS 22 cents
Expecting a beat in Sales & EPS......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2955.51, low 2952.65, high 3013.59
Internals are negative
Oil Down $4.36
Gold UP $12.40
Canadian $ Down 30 tick @ .6781
VIX UP 16.87% @ 18.84
Portfolio AMD CIEN CRON FB IQ SQ TSLA
Most stocks are down
@ 2.26 PM following are green :
SQ NEM AEM GLD SHOP MTCH NIU PHM
FSLR CRUS CSIQ JKS YELP SPWR MA
MCD MSFT KBH IBM V.....
SQ reports AH, here are the expectations :
Sales Q 2 $557.07 Million, EPS 16 cents
Guidance Q 3 Sales $598.96 Million, EPS 22 cents
Expecting a beat in Sales & EPS......
BLOG does NOT give buy or sell.
Saleem
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