Indices closed UP in a wild session, UP open Down whole day and then closed @ high of the day. Internals were all negative to my surprise. All this despite AAPL FB & AMZN had outstanding earnings plus PINS.
S&P 500 @ 3271.12, high 3272.17, low 3220.26
RSI @ 61.03
CMF @ 0.318
Internals were :
Down volume led by 1.75 to 1 in NYSE & 1.01 to 1 in Nasdaq
Declining stocks led by 1.40 to 1 in NYSE & 1.94 to 1 in Nasdaq
Net new 52 wk highs were leading by 124 in NYSE & Nasdaq
VIX Down 1.21% @ 24.46
Oil @ $40.27
Gold @ $1985.90
Canadian $ @ .6611
In my portfolio Sold QRVO @ $126.96
Stocks which closed green included NXPI SQ NEM
DOCU ZI CNX KL ROKU CIEN CRWD AG UPS
PINS LITE AAPL NKE MRVL WB BYND BZUN
TWLO FB AEM AMZN CRUS OLED PANW
YY IQ MSFT SWKS CMG.....
Here is portfolio weighting @ 70% exposure :
MGM 36.14%
AAL 26.66%
SU 22.69%
CCL 14.01%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, July 31, 2020
Thursday, July 30, 2020
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 3246.22, low 3204.13, high 3250.92
RSI @ 58.35
CMF @ 0.227
Internals were :
Down volume led by 3.52 to 1 in NYSE & .86 to 1 in Nasdaq
Declining stocks led by 1.89 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 117 in NYSE & 103 in Nasdaq
VIX UP 2.74% @ 24.76
Oil @ $39.92
Gold @ $1942.30
Canadian $ @ .6556
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included MGM QRVO APA
AMD DOCU DDOG LITE UPS QCOM XLNX AEM LRCX
CRUS YELP LVS OSTK SWKS.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE closed mixed but still managed to close near high of the day, Nasdaq was green till end. After hour AAPL AMZN & FB came out with stunning earnings despite COVID-19 worldwide economic conditions which probably worked in their favor. Friday should take indices further into bullish mode.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3246.22, low 3204.13, high 3250.92
RSI @ 58.35
CMF @ 0.227
Internals were :
Down volume led by 3.52 to 1 in NYSE & .86 to 1 in Nasdaq
Declining stocks led by 1.89 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 117 in NYSE & 103 in Nasdaq
VIX UP 2.74% @ 24.76
Oil @ $39.92
Gold @ $1942.30
Canadian $ @ .6556
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included MGM QRVO APA
AMD DOCU DDOG LITE UPS QCOM XLNX AEM LRCX
CRUS YELP LVS OSTK SWKS.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE closed mixed but still managed to close near high of the day, Nasdaq was green till end. After hour AAPL AMZN & FB came out with stunning earnings despite COVID-19 worldwide economic conditions which probably worked in their favor. Friday should take indices further into bullish mode.
BLOG does NOT give buy or sell.
Saleem
Wednesday, July 29, 2020
Indices closed UP .61% to 1.35%...NICE !!!!
Indices closed UP.
S&P 500 @ 3258.44, high 3264.74, low 3227.22
RSI@ 60.24
CMF @ 0.191
Internals were :
UP volume led by 3.06 to 1 in NYSE & 1.50 to 1 in Nasdaq
Advancing stocks led by 3.96 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 179 in NYSE & 101 in Nasdaq
VIX Down 5.27% @ 24.10
Oil @ $41.27
Gold @ $1953.40
Canadian $ @ .6626
In my portfolio :
In after hour....Sold APA @ $15.50, Bought QRVO @ $123.00
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included APA CCL MGM
CLDR NXPI AMD SQ PENN NIO DOCU DKNG SHOP
CNQ CIEN TOL MTCH HST CRWD DDOG EAT KRA
VICR MOMO XLNX TSM TWLO LRCX OXY FEYE
WYNN OSTK ULTA CMG X......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near high of the day, AMD led rally gave a boost to most sectors. AH earnings are mostly strong by QCOM QRVO APA and many other stocks. Internals were healthy & positive all over. Fed policy statement & Q&A was extremely bullish near term for stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3258.44, high 3264.74, low 3227.22
RSI@ 60.24
CMF @ 0.191
Internals were :
UP volume led by 3.06 to 1 in NYSE & 1.50 to 1 in Nasdaq
Advancing stocks led by 3.96 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 179 in NYSE & 101 in Nasdaq
VIX Down 5.27% @ 24.10
Oil @ $41.27
Gold @ $1953.40
Canadian $ @ .6626
In my portfolio :
In after hour....Sold APA @ $15.50, Bought QRVO @ $123.00
Portfolio AAL CCL MGM QRVO SU
Stocks which were UP 2% or more included APA CCL MGM
CLDR NXPI AMD SQ PENN NIO DOCU DKNG SHOP
CNQ CIEN TOL MTCH HST CRWD DDOG EAT KRA
VICR MOMO XLNX TSM TWLO LRCX OXY FEYE
WYNN OSTK ULTA CMG X......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near high of the day, AMD led rally gave a boost to most sectors. AH earnings are mostly strong by QCOM QRVO APA and many other stocks. Internals were healthy & positive all over. Fed policy statement & Q&A was extremely bullish near term for stocks.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 28, 2020
Indices closed down .65% to 1.27%....
Indices closed down
S&P 500 @ 3218.44, low 3216.17, high 3243.72
RSI @ 55.89
CMF @ 0.193
Internals were :
Down volume led by 1.18 to 1 in NYSE & 1.00 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.97 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 48 in Nasdaq
VIX UP 2.83% @ 25.44
Oil @ $41.04
Gold @ $1944.60
Canadian $ @ .6631
Portfolio AAL APA CCL MGM SU
Stocks which were UP 3% or more included AAL CCL MGM
DADA NIO CNX CGC MTCH TLRY CRON APHA NVAX
NCLH WYNN M.......
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE closed near low of the day, internals were weak. Gold keeps making new all time highs. Race for COVID-19 vaccine continues all over the world, there are about 50 drug companies in this challenging race to create much needed vaccine. After hours AMD guiding well above consensus and was rewarded with a new all time high. Tomorrow its all about testimony by FB, GOOG, AMZN, TWTR head honcho and Fed meeting statement @ 2 PM, no surprise expected anywhere.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3218.44, low 3216.17, high 3243.72
RSI @ 55.89
CMF @ 0.193
Internals were :
Down volume led by 1.18 to 1 in NYSE & 1.00 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.97 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 48 in Nasdaq
VIX UP 2.83% @ 25.44
Oil @ $41.04
Gold @ $1944.60
Canadian $ @ .6631
Portfolio AAL APA CCL MGM SU
Stocks which were UP 3% or more included AAL CCL MGM
DADA NIO CNX CGC MTCH TLRY CRON APHA NVAX
NCLH WYNN M.......
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE closed near low of the day, internals were weak. Gold keeps making new all time highs. Race for COVID-19 vaccine continues all over the world, there are about 50 drug companies in this challenging race to create much needed vaccine. After hours AMD guiding well above consensus and was rewarded with a new all time high. Tomorrow its all about testimony by FB, GOOG, AMZN, TWTR head honcho and Fed meeting statement @ 2 PM, no surprise expected anywhere.
BLOG does NOT give buy or sell.
Saleem
Monday, July 27, 2020
Indices closed up .43% to 1.67%....NICE !!!!
Indices closed UP.
S&P 500 @ 3239.41, high 3241.43, low 3214.25
RSI @ 59.03
CMF @ 0.280
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by 1.66 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 55 in Nasdaq
VIX Down 4.26% @ 24.74
Oil @ $41.60
Gold @ $1931.00
Canadian $ @ .6619
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included NXPI SNAP SQ AUX
GOLD NEM DOCU SHOP KL ROKU CIEN CGC TOL MTCH
ZM CRWD NTAP DDOG KBH TLRY CRON ENPH AG MU
NVAX SEDG MRNA TER AAPL DHI PHM JKS RUN QCOM
LULU TSM TSLA LRCX CSIQ OLED SWKS....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE closed near high of the day, Gold made a new all time high and a brand new intraday high also. Earnings reaction so far has been " sell the news ". Keep an eye on internals which is so so and also IF stocks are making new all time highs, that too is missing these days. It is called " churn near highs "
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3239.41, high 3241.43, low 3214.25
RSI @ 59.03
CMF @ 0.280
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by 1.66 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 55 in Nasdaq
VIX Down 4.26% @ 24.74
Oil @ $41.60
Gold @ $1931.00
Canadian $ @ .6619
Portfolio AAL APA CCL MGM SU
Stocks which were UP 1% or more included NXPI SNAP SQ AUX
GOLD NEM DOCU SHOP KL ROKU CIEN CGC TOL MTCH
ZM CRWD NTAP DDOG KBH TLRY CRON ENPH AG MU
NVAX SEDG MRNA TER AAPL DHI PHM JKS RUN QCOM
LULU TSM TSLA LRCX CSIQ OLED SWKS....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE closed near high of the day, Gold made a new all time high and a brand new intraday high also. Earnings reaction so far has been " sell the news ". Keep an eye on internals which is so so and also IF stocks are making new all time highs, that too is missing these days. It is called " churn near highs "
BLOG does NOT give buy or sell.
Saleem
Sunday, July 26, 2020
Challenging week ahead in US market.....
Coming week is extremely challenging when major technology companies are reporting.
NXPI on Monday
AMD & EBAY on Tuesday
FB PYPL QCOM SHOP on Wednesday
AAPL AMZN GOOG MGM on Thursday
As you can see from the above list, most of the above stocks have made series of new all time highs and are extremely vulnerable. most have been rewarded with one time upgrades or additional hardware due to work from home because of COVID-19.
I expect most of them to beat expectations by a wide margin.
Guidance may not be as rosy, that is where I think stocks may give some recent gains.
There has been too much euphoria given an unfortunate impact due to Corona Virus.
Impact has been extremely positive for few groups and devastation for other groups.
As far as COVID-19 is concerned, it is in neutral mode in terms of positive & negative.
Stocks has to earn multiples going forward.
Earnings may not be the catalysts as everything may be priced in.
We need a digestive / pullback phase for many many stocks which has created trading genius in some traders.
Markets have seen many gurus, whose time comes and goes with each cycle.
I am expecting difficult and challenging time for many stocks after earnings, thus it will be wise to lock any gains before it evaporates, in some cases, it is coming out of thin air.
Until next earnings report, it may be a very dull and boring market for many traders, no more 10% move every morning in same sector.
Market has been very good and predictable which is extremely unusual in normal trading.
For those who may not be aware, long term average gain in S&P 500 is around 8% annually. So be happy IF you are beating this by 2000%.....
Good luck with your thesis about market going forward.
BLOG does NOT give buy or sell.
Saleem
NXPI on Monday
AMD & EBAY on Tuesday
FB PYPL QCOM SHOP on Wednesday
AAPL AMZN GOOG MGM on Thursday
As you can see from the above list, most of the above stocks have made series of new all time highs and are extremely vulnerable. most have been rewarded with one time upgrades or additional hardware due to work from home because of COVID-19.
I expect most of them to beat expectations by a wide margin.
Guidance may not be as rosy, that is where I think stocks may give some recent gains.
There has been too much euphoria given an unfortunate impact due to Corona Virus.
Impact has been extremely positive for few groups and devastation for other groups.
As far as COVID-19 is concerned, it is in neutral mode in terms of positive & negative.
Stocks has to earn multiples going forward.
Earnings may not be the catalysts as everything may be priced in.
We need a digestive / pullback phase for many many stocks which has created trading genius in some traders.
Markets have seen many gurus, whose time comes and goes with each cycle.
I am expecting difficult and challenging time for many stocks after earnings, thus it will be wise to lock any gains before it evaporates, in some cases, it is coming out of thin air.
Until next earnings report, it may be a very dull and boring market for many traders, no more 10% move every morning in same sector.
Market has been very good and predictable which is extremely unusual in normal trading.
For those who may not be aware, long term average gain in S&P 500 is around 8% annually. So be happy IF you are beating this by 2000%.....
Good luck with your thesis about market going forward.
BLOG does NOT give buy or sell.
Saleem
Friday, July 24, 2020
Indices closed down .62% to .94%.....
Indices closed down with technology stocks under selling pressure, AMD was the rare beneficiary of INTC trouble. Gold made a new all time high today. Gold & Silver stocks were strong.
S&P 500 @ 3215.63, low 3200.05, high 3227.26
RSI @ 56.45
CMF @ 0.157
Internals were :
Down volume led by 2.16 to 1 in NYSE & 1.58 to 1 in Nasdaq
Declining stocks led by 1.91 to 1 in NYSE & 2.77 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 17 in Nasdaq
VIX Down .92% @ 25.84
Oil @ $41.29
Gold @ $1897.50
Canadian $ .6566
Stocks which closed green included AMD PENN AUY
GOLD NEM DKNG CNX KL CIEN TOL EAT PHM
VICR WB TSM AEM NVDA SHOP.......
Here is my portfolio weighting :
MGM 32.43%
AAL 23.62%
SU 20.78%
CCL 12.93%
APA 10.24%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3215.63, low 3200.05, high 3227.26
RSI @ 56.45
CMF @ 0.157
Internals were :
Down volume led by 2.16 to 1 in NYSE & 1.58 to 1 in Nasdaq
Declining stocks led by 1.91 to 1 in NYSE & 2.77 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 17 in Nasdaq
VIX Down .92% @ 25.84
Oil @ $41.29
Gold @ $1897.50
Canadian $ .6566
Stocks which closed green included AMD PENN AUY
GOLD NEM DKNG CNX KL CIEN TOL EAT PHM
VICR WB TSM AEM NVDA SHOP.......
Here is my portfolio weighting :
MGM 32.43%
AAL 23.62%
SU 20.78%
CCL 12.93%
APA 10.24%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
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