Indices closed UP.
S&P 500 @ 3248.92, high 3268.44, low 3235.66
RSI @ 48.42
CMF @ 0.095
Internals were :
UP volume led by 1.67 to 1 in NYSE & 1.96 to 1 in Nasdaq
Advancing stocks led by 1.77 to 1 in NYSE & 1.76 to 1 in Nasdaq
Net new 52 wk highs were leading by 46 in NYSE & lows by 4 in Nasdaq
VIX Down 4.62% @ 17.97
Oil @ $50.11
Gold @ $1582.40
Canadian $ .6700
Portfolio LSCC LK MRVL QCOM
Stocks which were UP 2% or more included HUYA IQ ASML
ROKU WB AMD CLDR LULU NIO CIEN BZUN SQ TWLO
BIDU MSFT TSLA UBER LRCX SPLK AMAT BABA MA
NFLX GOOG SINA ULTA NKE M.....
AH news...GOOG Down 4.10%
AH futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE surprised many including me by opening higher and went further UP, by closed it closed UP. Reason is hard to figure out IF Corona Virus has been discounted so quickly while fatalities are rising daily and infection spreading into many countries, but this kind of surprise is a welcome relief to all participant. DOW SOX IWM are all below 50 DMA while S&P 500 moved above to join Nasdaq.
BLOG does NOT give buy or sell.
Saleem
Monday, February 3, 2020
Sunday, February 2, 2020
Technically market is broken.....
Market took a beating on Friday and it is not looking healthy technically speaking,
DOW SOX & Russell 2000 closed below 50 DMA...
S&P 500 came within 3 points of breaching 50 DMA barely closing above.
Nasdaq is one day away from breaking 50 DMA...came within 83 points above 50 DMA...
This is telling us that all major Indices may break 50 DMA and below before it is all over....
Will not be surprised IF we test 200 DMA......which is a fair distance below current close.
Shanghai may react the-worst as CHINA is facing a major economic impact from Corona Virus..
CHINA being the number 2 economy in the world can affect whole world in trade and commerce.
CHINA produces / manufactures for many companies around the world, thus economic impact for global economy can be significant.
Air travel to & from China is being curtailed by most nations through travel advisory or flight cancellation...
Only thing that can change this negativity IF we get report from China about containment and slowing spreading of this virus.
For Investors and traders, this calls for patience and staying put for now.
Keep an eye on news flow particularly from China and rest of the world about spreading / containment / reduction.
These things are unpredictable in terms of duration and intensity.
Keep an eye on your own stocks and see IF they are behaving better or worse than market, IF need be take the required step to reduce or eliminate your exposure in that stock.
Good luck with your own analysis and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
DOW SOX & Russell 2000 closed below 50 DMA...
S&P 500 came within 3 points of breaching 50 DMA barely closing above.
Nasdaq is one day away from breaking 50 DMA...came within 83 points above 50 DMA...
This is telling us that all major Indices may break 50 DMA and below before it is all over....
Will not be surprised IF we test 200 DMA......which is a fair distance below current close.
Shanghai may react the-worst as CHINA is facing a major economic impact from Corona Virus..
CHINA being the number 2 economy in the world can affect whole world in trade and commerce.
CHINA produces / manufactures for many companies around the world, thus economic impact for global economy can be significant.
Air travel to & from China is being curtailed by most nations through travel advisory or flight cancellation...
Only thing that can change this negativity IF we get report from China about containment and slowing spreading of this virus.
For Investors and traders, this calls for patience and staying put for now.
Keep an eye on news flow particularly from China and rest of the world about spreading / containment / reduction.
These things are unpredictable in terms of duration and intensity.
Keep an eye on your own stocks and see IF they are behaving better or worse than market, IF need be take the required step to reduce or eliminate your exposure in that stock.
Good luck with your own analysis and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, January 31, 2020
Indices closed down 1.59% to 2.09%.....
Indices closed down on worldwide concern over growing infection with Corona Virus, many countries are taking pro-active measures by cancelling flights to China and evacuation of its citizens from China. Travel advisories are being issued thus creating fear in the mind of traders / Investors.
S&P 500 @ 3225.52, low 3214.68, high 3282.33
RSI @ 43.44
CMF @ 0.109
Internals were :
Down volume led by 7.47 to 1 in NYSE & 3.25 to 1 in Nasdaq
Declining stocks led by 3.58 to 1 in NYSE & 3.35 to 1 in Nasdaq
Net new 52 52 wk highs were leading by 88 in NYSE & lows by 22 in Nasdaq
VIX UP 21.63% @ 18.84
Oil @ $61.56
Gold @ $1587.90
Canadian $ @ .6776
Stocks which closed green included AMZN TSLA IBM
NEM AEM NIU PRNB CNX....
Here is my portfolio weighting :
QCOM 45.21%
MRVL 25.48%
LSCC 20.70%
LK 8.61%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3225.52, low 3214.68, high 3282.33
RSI @ 43.44
CMF @ 0.109
Internals were :
Down volume led by 7.47 to 1 in NYSE & 3.25 to 1 in Nasdaq
Declining stocks led by 3.58 to 1 in NYSE & 3.35 to 1 in Nasdaq
Net new 52 52 wk highs were leading by 88 in NYSE & lows by 22 in Nasdaq
VIX UP 21.63% @ 18.84
Oil @ $61.56
Gold @ $1587.90
Canadian $ @ .6776
Stocks which closed green included AMZN TSLA IBM
NEM AEM NIU PRNB CNX....
Here is my portfolio weighting :
QCOM 45.21%
MRVL 25.48%
LSCC 20.70%
LK 8.61%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, January 30, 2020
Indices closed UP .26% to .43%....NICE !!!!!
Indices closed UP.
S&P 500 @ 3283.66, high 3285.91, low 3242.80
RSI @ 55.88
CMF @ 0.202
Internals were :
UP volume led by 1.06 to 1 in NYSE & 1.08 to 1 in Nasdaq
Declining stocks led by 1.01 to 1 in NYSE & 1.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 138 in NYSE & 3 in Nasdaq
VIX Down 5.49% @ 15.49
Oil @ $52.14
Gold @ $1589.20
Canadian $ @ .6779
Portfolio LSCC LK MRVL QCOM
Stocks which closed green included MOMO ROKU AMD
BYND NVDA TLRY SPWR MCD TWLO MSFT TSLA
LYFT NEM AEM LRCX SHOP AAL SPLK AMAT
CRUS NFLX NTNX LNG WYNN LVS GS MA
MS V CNX.....
AH news...AMZN UP 9.85%, WDC UP 6.03%
X UP 5.21%, CLS UP 5.03%
IBM UP 4.72%, BZH Down 7.26%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE tested its support on growing Corona Virus death and infected, many countries are doing a good job of containment. WHO declared Global emergency but no restrictions on travel, this became buy the news and market erased all losses and closed in green. Indices closed @ high of the day setting stage for a strong Friday's rally. AH AMZN lit the fire for bulls, all is well on Wall & Broad!
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3283.66, high 3285.91, low 3242.80
RSI @ 55.88
CMF @ 0.202
Internals were :
UP volume led by 1.06 to 1 in NYSE & 1.08 to 1 in Nasdaq
Declining stocks led by 1.01 to 1 in NYSE & 1.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 138 in NYSE & 3 in Nasdaq
VIX Down 5.49% @ 15.49
Oil @ $52.14
Gold @ $1589.20
Canadian $ @ .6779
Portfolio LSCC LK MRVL QCOM
Stocks which closed green included MOMO ROKU AMD
BYND NVDA TLRY SPWR MCD TWLO MSFT TSLA
LYFT NEM AEM LRCX SHOP AAL SPLK AMAT
CRUS NFLX NTNX LNG WYNN LVS GS MA
MS V CNX.....
AH news...AMZN UP 9.85%, WDC UP 6.03%
X UP 5.21%, CLS UP 5.03%
IBM UP 4.72%, BZH Down 7.26%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE tested its support on growing Corona Virus death and infected, many countries are doing a good job of containment. WHO declared Global emergency but no restrictions on travel, this became buy the news and market erased all losses and closed in green. Indices closed @ high of the day setting stage for a strong Friday's rally. AH AMZN lit the fire for bulls, all is well on Wall & Broad!
BLOG does NOT give buy or sell.
Saleem
Wednesday, January 29, 2020
Indices closed mixed...
Indices closed mixed.
S&P 500 @ 3273.40, low 3271.89, high 3293.47
RSI @ 53.71
CMF @ 0.187
Internals were :
Down volume 1.30 to 1 in NYSE & 1.58 to 1 in Nasdaq
Declining stocks led by .99 to 1 in NYSE & 1.60 to 1 in Nasdaq
Net new 52 wk highs were leading by 195 in NYSE & 50 in Nasdaq
VIX UP .68% @ 16.39
Oil @ $53.33
Gold @ $1570.40
Canadian $ @ .6795
Stocks which were UP 1% or more included HUYA ASML WB
LULU SQ MCD MSFT FB TSLA AEM FEYE AAPL YY
V X .....
In my portfolio..Added 75% LSCC @ $20.80
Portfolio LSCC LK MRVL QCOM
AH news... TSLA UP 11.62%, QRVO UP 9.8%
NOW UP 6.48%, MSFT UP 4.14%
FB Down 6.96%, PYPL Down 2.54%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed mixed after Fed statement and Q&A. Internals were weak. AH earnings were broadly strong which should give support to Nasdaq. Even marking time @ this stage to deal with Corona Virus Flight restrictions is an healthy pause. Stay with strong stocks and make changes when called for. Steady as she goes remains in focus.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3273.40, low 3271.89, high 3293.47
RSI @ 53.71
CMF @ 0.187
Internals were :
Down volume 1.30 to 1 in NYSE & 1.58 to 1 in Nasdaq
Declining stocks led by .99 to 1 in NYSE & 1.60 to 1 in Nasdaq
Net new 52 wk highs were leading by 195 in NYSE & 50 in Nasdaq
VIX UP .68% @ 16.39
Oil @ $53.33
Gold @ $1570.40
Canadian $ @ .6795
Stocks which were UP 1% or more included HUYA ASML WB
LULU SQ MCD MSFT FB TSLA AEM FEYE AAPL YY
V X .....
In my portfolio..Added 75% LSCC @ $20.80
Portfolio LSCC LK MRVL QCOM
AH news... TSLA UP 11.62%, QRVO UP 9.8%
NOW UP 6.48%, MSFT UP 4.14%
FB Down 6.96%, PYPL Down 2.54%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed mixed after Fed statement and Q&A. Internals were weak. AH earnings were broadly strong which should give support to Nasdaq. Even marking time @ this stage to deal with Corona Virus Flight restrictions is an healthy pause. Stay with strong stocks and make changes when called for. Steady as she goes remains in focus.
BLOG does NOT give buy or sell.
Saleem
Tuesday, January 28, 2020
Indices closed UP .66% to 1.43%....NICE !!!!
Indices closed UP.
S&P 500 @ 3276.24, high 3285.78, low 3253.22
RSI @ 54.40
CMF @ 0.219
Internals were :
UP volume led by 2.96 to 1 in NYSE & 3.23 to 1 in Nasdaq
Advancing stocks led by 2.26 to 1 in NYSE & 2.17 to 1 in Nasdaq
Net new 52 wk highs were leading by 138 in NYSE & 43 in Nasdaq
VIX Down 10.70% @ 16.28
Oil @ $53.48
Gold @ $1569.80
Canadian $ @ .6821
Stocks which were UP 2% or more included QCOM LK IQ
ROKU AMD CIEN SQ TSM LRCX SHOP AAL PHM
AAPL OLED QRVO YY BABA SINA OSTK SWKS
M......
In my portfolio :
Sold XLNX @ $91.00 in AH
Bought LK @ $39.16 in AH
Portfolio LSCC LK MRVL QCOM
AH news...XLNX Down 8.73%, EBAY Down 5.14%
AMD Down 4.53%, EAT UP 9.27%
XLNX reported a beat in EPS and a slight miss in Sales,
Guidance was well below consensus due to HUAWEI
China US trade impact...thus my exit from XLNX.
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE came back roaring and closed near high of the day, Corona Virus has been discounted as not as big as any other in recent memory. Earnings were as predicted some good most fully priced in. Stock selections needs to be looked with heavy discounting already done in many stocks. Going forward quality, growth and discounted story will be rewarded.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3276.24, high 3285.78, low 3253.22
RSI @ 54.40
CMF @ 0.219
Internals were :
UP volume led by 2.96 to 1 in NYSE & 3.23 to 1 in Nasdaq
Advancing stocks led by 2.26 to 1 in NYSE & 2.17 to 1 in Nasdaq
Net new 52 wk highs were leading by 138 in NYSE & 43 in Nasdaq
VIX Down 10.70% @ 16.28
Oil @ $53.48
Gold @ $1569.80
Canadian $ @ .6821
Stocks which were UP 2% or more included QCOM LK IQ
ROKU AMD CIEN SQ TSM LRCX SHOP AAL PHM
AAPL OLED QRVO YY BABA SINA OSTK SWKS
M......
In my portfolio :
Sold XLNX @ $91.00 in AH
Bought LK @ $39.16 in AH
Portfolio LSCC LK MRVL QCOM
AH news...XLNX Down 8.73%, EBAY Down 5.14%
AMD Down 4.53%, EAT UP 9.27%
XLNX reported a beat in EPS and a slight miss in Sales,
Guidance was well below consensus due to HUAWEI
China US trade impact...thus my exit from XLNX.
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE came back roaring and closed near high of the day, Corona Virus has been discounted as not as big as any other in recent memory. Earnings were as predicted some good most fully priced in. Stock selections needs to be looked with heavy discounting already done in many stocks. Going forward quality, growth and discounted story will be rewarded.
BLOG does NOT give buy or sell.
Saleem
Monday, January 27, 2020
Indices closed down 1.57% to 1.89%....
Indices closed down.
S&P 500 @ 3243.63, low 3234.50, high 3258.85
RSI @ 47.17
CMF @ 0.197
Internals were :
Down volume led by 7.14 to 1 in NYSE & 2.51 to 1 in Nasdaq
Declining stocks led by 3.62 to 1 in NYSE & 3.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 49 in NYSE & lows by 19 in Nasdaq
VIX UP 25.2% @ 18.23
Oil @ $53.14
Gold @ $1577.40
Canadian $ @ .6820
Portfolio LSCC MRVL QCOM XLNX
Stocks which closed green included IQ BYND NEM
GLD PHM ULTA KBH.....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE gave us much needed beating which was overdue. Today's slump got rid of froth from this market and many sold in this panic. I do not believe Corona Virus is that deadly in scope of global numbers, It is mostly restricted to China and they are doing a superb job of controlling it.
XLNX is reporting after close, here is the expectations :
Q 4 Sales $730.63 Millions, EPS 59 cents
Q 1 guidance Sales $824.56 Millions, EPS 79 cents
I can only hope XLNX can beat in Q 4 and meet guidance!
There is only a closing BLOG these days!
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3243.63, low 3234.50, high 3258.85
RSI @ 47.17
CMF @ 0.197
Internals were :
Down volume led by 7.14 to 1 in NYSE & 2.51 to 1 in Nasdaq
Declining stocks led by 3.62 to 1 in NYSE & 3.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 49 in NYSE & lows by 19 in Nasdaq
VIX UP 25.2% @ 18.23
Oil @ $53.14
Gold @ $1577.40
Canadian $ @ .6820
Portfolio LSCC MRVL QCOM XLNX
Stocks which closed green included IQ BYND NEM
GLD PHM ULTA KBH.....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE gave us much needed beating which was overdue. Today's slump got rid of froth from this market and many sold in this panic. I do not believe Corona Virus is that deadly in scope of global numbers, It is mostly restricted to China and they are doing a superb job of controlling it.
XLNX is reporting after close, here is the expectations :
Q 4 Sales $730.63 Millions, EPS 59 cents
Q 1 guidance Sales $824.56 Millions, EPS 79 cents
I can only hope XLNX can beat in Q 4 and meet guidance!
There is only a closing BLOG these days!
BLOG does NOT give buy or sell.
Saleem
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