Indices closed down.
S&P 500 @ 2386.13, low 2380.94, high 2562.98
RSI @ 30.17
CMF @ -0.072
Internals were :
Down volume led by 14.11 to 1 in NYSE & 5.53 to 1 in Nasdaq
Declining stocks led by 14.60 to 1 in NYSE & 11.50 to 1 in Nasdaq
Net new 52 wk lows were leading by 2689 in NYSE & 1916 in Nasdaq
VIX UP 42.99% @ 82.69 ...high today 82.56.....new multi year high
Oil @ $28.70
Gold @ $1486.50
Canadian $ @ .6034
Portfolio AMD LK TWTR
Stocks which closed green included NEM AEM CNX
AAL CRON.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE took it on the chin again despite effort by Fed and major effort to contain and deal with Corona Virus. S&P 500 was down 11.98% and DOW 12.93% in today's trading.S&P 500 has lost 1012.58 points from its high in 4 weeks, this is a hair cut of 29.84%...so this rout went from overbought pullback to a correction of 10% to a total collapse of 30%. In my humble opinion, we have already discounted slowdown till August 2020, the question IS...do we need to discount more than August slump.....NO......
BLOG does NOT give buy or sell.
Saleem
Monday, March 16, 2020
Sunday, March 15, 2020
Can stock market look 6 months ahead?
Normally stock market looks ahead 6 months.....
IF that is the case, there is lot to be optimistic about....
We all know we are facing 2 quarters of pain Q 1 & Q 2.....in terns of Sales & EPS...
Somehow bull bear ratio is still too bullish, bulls 36.2% bears 22.9%.....which has surprised me....maybe there is much more pain to come.....
@ bear market lows, it used to be 60% bear .......
News flow is fast & furious worldwide.....more and more infection being reported and more are dying...
Looking @ RSI, these are the numbers :
SOX 39.99
Nasdaq 38.67
S&P 500 37.67
DOW 36.76
IWM 27.43
Even after Friday's huge rally, Russell 2000 is in deeply oversold territory.
Oil can be useful in finding direction for stock market, IF Oil is UP...there is a good chance that Stock market may follow oil's lead.
Oil price is a real indicator of where economy stands in terms of growth / GDP
This TAPE has been painful for most of us, only those short this market were smiling....
I expect more volatility in near term, then a strong move UP from there.
I am staying in very high comfort / strong stocks based on current and future trends....
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
IF that is the case, there is lot to be optimistic about....
We all know we are facing 2 quarters of pain Q 1 & Q 2.....in terns of Sales & EPS...
Somehow bull bear ratio is still too bullish, bulls 36.2% bears 22.9%.....which has surprised me....maybe there is much more pain to come.....
@ bear market lows, it used to be 60% bear .......
News flow is fast & furious worldwide.....more and more infection being reported and more are dying...
Looking @ RSI, these are the numbers :
SOX 39.99
Nasdaq 38.67
S&P 500 37.67
DOW 36.76
IWM 27.43
Even after Friday's huge rally, Russell 2000 is in deeply oversold territory.
Oil can be useful in finding direction for stock market, IF Oil is UP...there is a good chance that Stock market may follow oil's lead.
Oil price is a real indicator of where economy stands in terms of growth / GDP
This TAPE has been painful for most of us, only those short this market were smiling....
I expect more volatility in near term, then a strong move UP from there.
I am staying in very high comfort / strong stocks based on current and future trends....
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, March 13, 2020
Indices closed UP 9.29% to 9.36%....NICE !!!!
Indices closed UP after meandering between unchanged to 800 points plus in DOW then rocket launch in last hour to best gain since 2008. US politicians got down to business @ hand of infection containment / isolation and President Trump did his homework which added up to a confidence building bullish close.
S&P 500 @ 2711.02, high 2711.33, low 2492.37
RSI @ 37.67
CMF @ 0.010
Internals were :
UP volume led by 8.68 to 1 in NYSE & 4.15 to 1 in Nasdaq
Advancing stocks led by 4.68 to 1 in NYSE & 2.87 to 1 in Nasdaq
Net new 52 wk lows were leading by 898 in NYSE & 828 in Nasdaq
VIX Down 23.37% @ 57.83
Oil @ $31.73
Gold @ $1516.70
Canadian $ @ .6004
In my portfolio :
Added 60% TWTR @ $27.70
Sold LSCC @ $15.18
Sold IQ @ $18.01
Stocks which closed UP included AMD LK TWTR
CIEN VICR SQ MU ASML QCOM XLNX NVDA
TSM FB LRCX UAL AAPL SPLK AMAT GOOG
PANW QRVO SNAP NTNX WYNN LVS GS MS
MA V ORCL MSFT CNX.....
Here is my highly concentrated portfolio :
AMD 49.13%
TWTR 35.52%
LK 15.35%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2711.02, high 2711.33, low 2492.37
RSI @ 37.67
CMF @ 0.010
Internals were :
UP volume led by 8.68 to 1 in NYSE & 4.15 to 1 in Nasdaq
Advancing stocks led by 4.68 to 1 in NYSE & 2.87 to 1 in Nasdaq
Net new 52 wk lows were leading by 898 in NYSE & 828 in Nasdaq
VIX Down 23.37% @ 57.83
Oil @ $31.73
Gold @ $1516.70
Canadian $ @ .6004
In my portfolio :
Added 60% TWTR @ $27.70
Sold LSCC @ $15.18
Sold IQ @ $18.01
Stocks which closed UP included AMD LK TWTR
CIEN VICR SQ MU ASML QCOM XLNX NVDA
TSM FB LRCX UAL AAPL SPLK AMAT GOOG
PANW QRVO SNAP NTNX WYNN LVS GS MS
MA V ORCL MSFT CNX.....
Here is my highly concentrated portfolio :
AMD 49.13%
TWTR 35.52%
LK 15.35%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 12, 2020
Indices closed down 9.43% to 9.99%.....
Indices closed down.
S&P 500 @ 2480.64, low 2478.86, high 2660.95
RSI @ 25.48
CMF @ -0.062
Internals were :
Down volume led by 12.12 to 1 in NYSE & 9.54 to ! in Nasdaq
Declining stocks led by 23.63 to 1 in NYSE & 17.60 to 1 in Nasdaq
Net new 52 wk lows were leading by 3134 in NYSE & 2081 in Nasdaq
VIX UP 40.02% @ 75.47
Oil @ $31.50
Gold @ $1590.30
Canadian $ @ .6127
In my portfolio
Bought TWTR @ $27.88
Added 200% AMD @ $41.58
Sold SQ @ $51.80
Sold SPWR @ $5.19
Sold HUYA @ $15.50
Portfolio AMD IQ LSCC LK TWTR
Stock which closed green CNX
AH news....AVGO Down 9.73%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE closed @ low of the day and is breaking record of fastest % decline in history, did not like the way market was closing so Sold HUYA & SPWR right before close and sold SQ in AH. Corona Virus is finally taking hold firmly in US & Canada with very high profile celebrity taking precaution and staying home and being monitored. Most Schools, arenas, activities are being cancelled all over the world, crowd situation needs to be avoided. On all metrics we are deeply oversold BUT emotion & panic is setting in.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2480.64, low 2478.86, high 2660.95
RSI @ 25.48
CMF @ -0.062
Internals were :
Down volume led by 12.12 to 1 in NYSE & 9.54 to ! in Nasdaq
Declining stocks led by 23.63 to 1 in NYSE & 17.60 to 1 in Nasdaq
Net new 52 wk lows were leading by 3134 in NYSE & 2081 in Nasdaq
VIX UP 40.02% @ 75.47
Oil @ $31.50
Gold @ $1590.30
Canadian $ @ .6127
In my portfolio
Bought TWTR @ $27.88
Added 200% AMD @ $41.58
Sold SQ @ $51.80
Sold SPWR @ $5.19
Sold HUYA @ $15.50
Portfolio AMD IQ LSCC LK TWTR
Stock which closed green CNX
AH news....AVGO Down 9.73%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE closed @ low of the day and is breaking record of fastest % decline in history, did not like the way market was closing so Sold HUYA & SPWR right before close and sold SQ in AH. Corona Virus is finally taking hold firmly in US & Canada with very high profile celebrity taking precaution and staying home and being monitored. Most Schools, arenas, activities are being cancelled all over the world, crowd situation needs to be avoided. On all metrics we are deeply oversold BUT emotion & panic is setting in.
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 11, 2020
Indices closed down 4.70% to 5.86%.....
Indices closed down.
S&P 500 @ 2741.38, low 2707.22, high 2825.60
RSI @ 32.07
CMF @ 0.037
Internals were :
Down volume led by 30.66 to 1 in NYSE & 4.39 to 1 in Nasdaq
Declining stocks led by 13.50 to 1 in NYSE & 8.24 to 1 in Nasdaq
Net new 52 wk lows were leading by 1624 in NYSE & 1023 in Nasdaq
VIX UP 13.95% @ 53.90
Oil @ $33.98
Gold @ $1642.30
Canadian $ @ .6249
In my portfolio Bought AMD @ $44.20
Portfolio AMD HUYA IQ LSCC LK SQ SPWR
Stocks closed in green AMD CLDR
AH news...CSIQ Down 7.99%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE took its direction from spreading infection & deaths worldwide, all arenas and gatherings are being closed. WHO finally admitted to Corona Virus as Pandemic thus market reacted accordingly to new negativity by going into a bear market. President Trump is under intense pressure to save his reelection by delivering some serious approach to contain this pandemic from damaging economy of USA.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2741.38, low 2707.22, high 2825.60
RSI @ 32.07
CMF @ 0.037
Internals were :
Down volume led by 30.66 to 1 in NYSE & 4.39 to 1 in Nasdaq
Declining stocks led by 13.50 to 1 in NYSE & 8.24 to 1 in Nasdaq
Net new 52 wk lows were leading by 1624 in NYSE & 1023 in Nasdaq
VIX UP 13.95% @ 53.90
Oil @ $33.98
Gold @ $1642.30
Canadian $ @ .6249
In my portfolio Bought AMD @ $44.20
Portfolio AMD HUYA IQ LSCC LK SQ SPWR
Stocks closed in green AMD CLDR
AH news...CSIQ Down 7.99%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE took its direction from spreading infection & deaths worldwide, all arenas and gatherings are being closed. WHO finally admitted to Corona Virus as Pandemic thus market reacted accordingly to new negativity by going into a bear market. President Trump is under intense pressure to save his reelection by delivering some serious approach to contain this pandemic from damaging economy of USA.
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 10, 2020
Indices closed UP 4.89% to 4.95%...NICE !!!!
Indices closed UP.
S&P 500 @ 2882.23, high 2882.59, low 2734.00
RSI @ 36.86
CMF @ 0.050
Internals were :
UP volume led by 8.34 to 1 in NYSE & 3.05 to 1 in Nasdaq
Advancing stocks led by 2.64 to 1 in NYSE & 2.05 to 1 in Nasdaq
Net new 52 wk lows were leading by 955 in NYSE & 681 in Nasdaq
VIX Down 13.15% @ 47.30
Oil @ $34.36
Gold @ $1660.30
Canadian $ @ .6218
Portfolio HUYA IQ LSCC LK SQ SPWR
Stocks which were UP 3% or more included IQ LSCC LK
MRVL MU ASML QCOM WB XLNX BYND CLDR
TWTR CIEN NVDA TSM JKS MCD BIDU MSFT
TSLA LRCX SHOP AMZN UAL AAL AAPL
VICR FSLR CGC BABA NFLX OLED V
PANW QRVO YY SNAP AMAT AMD X
WYNN LVS GS MA MS SWKS NKE
CMG....
AH news...VSLR Down 15.02%, INO UP 8.42%
CLDR UP 10.57%....
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE after initial yo yo action closed @ highest point of the day. Most sectors participated in this rally. I am hoping for a positive close on Wednesday to confirm "negativity is out ". New York Corona Virus infection is getting lot of media attention which is reflected in Futures.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2882.23, high 2882.59, low 2734.00
RSI @ 36.86
CMF @ 0.050
Internals were :
UP volume led by 8.34 to 1 in NYSE & 3.05 to 1 in Nasdaq
Advancing stocks led by 2.64 to 1 in NYSE & 2.05 to 1 in Nasdaq
Net new 52 wk lows were leading by 955 in NYSE & 681 in Nasdaq
VIX Down 13.15% @ 47.30
Oil @ $34.36
Gold @ $1660.30
Canadian $ @ .6218
Portfolio HUYA IQ LSCC LK SQ SPWR
Stocks which were UP 3% or more included IQ LSCC LK
MRVL MU ASML QCOM WB XLNX BYND CLDR
TWTR CIEN NVDA TSM JKS MCD BIDU MSFT
TSLA LRCX SHOP AMZN UAL AAL AAPL
VICR FSLR CGC BABA NFLX OLED V
PANW QRVO YY SNAP AMAT AMD X
WYNN LVS GS MA MS SWKS NKE
CMG....
AH news...VSLR Down 15.02%, INO UP 8.42%
CLDR UP 10.57%....
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE after initial yo yo action closed @ highest point of the day. Most sectors participated in this rally. I am hoping for a positive close on Wednesday to confirm "negativity is out ". New York Corona Virus infection is getting lot of media attention which is reflected in Futures.
BLOG does NOT give buy or sell.
Saleem
Monday, March 9, 2020
Indices closed down 7.29% to 7.79%.....
Indices closed down.
S&P 500 @ 2746.56, low 2734.43, high 2863.89
RSI @ 27.13
CMF @ 0.008
Internals were :
Down volume led by 25.03 to 1 in NYSE & 7.79 to 1 in Nasdaq
Declining stocks led by 18.03 to 1 in NYSE & 19.12 in Nasdaq
Net new 52 wk lows were leading by 2141 in NYSE & 1346 in Nasdaq
VIX UP 29.85% @ 54.46...high today 62.12
Oil @ $31.13
Gold @ $1670.40
Canadian $ @ .6445
In my portfolio ...Added 100% SQ @ $66.00
Portfolio HUYA IQ LSCC LK SQ SPWR
Stock which closed green CNX...
AH news...CY UP 46.27%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE went into freefall when Saudi Arabia & Russia started a price war in oil, as they say rest is history, many sectors besides oil slumped badly. These things work out slowly as price readjust to a more sane level. Ironically this pullback took many players by surprise and were caught on the wrong side of trade. Hopefully sanity returns on a " turnaround Tuesday "....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2746.56, low 2734.43, high 2863.89
RSI @ 27.13
CMF @ 0.008
Internals were :
Down volume led by 25.03 to 1 in NYSE & 7.79 to 1 in Nasdaq
Declining stocks led by 18.03 to 1 in NYSE & 19.12 in Nasdaq
Net new 52 wk lows were leading by 2141 in NYSE & 1346 in Nasdaq
VIX UP 29.85% @ 54.46...high today 62.12
Oil @ $31.13
Gold @ $1670.40
Canadian $ @ .6445
In my portfolio ...Added 100% SQ @ $66.00
Portfolio HUYA IQ LSCC LK SQ SPWR
Stock which closed green CNX...
AH news...CY UP 46.27%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE went into freefall when Saudi Arabia & Russia started a price war in oil, as they say rest is history, many sectors besides oil slumped badly. These things work out slowly as price readjust to a more sane level. Ironically this pullback took many players by surprise and were caught on the wrong side of trade. Hopefully sanity returns on a " turnaround Tuesday "....
BLOG does NOT give buy or sell.
Saleem
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