Indices closed UP .78% to 2.05%....NICE !!!!!

Indices closed UP.

S&P 500 @ 3122.87, high 3130.94, low 3098.90

RSI @ 68.95

CMF @ 0.159

Internals were :

UP volume led by 5.62 to 1 in NYSE & 2.72 to 1 in Nasdaq

Advancing stocks led by 3.81 to 1 in NYSE & 2.27 to 1 in Nasdaq

Net new 52 wk highs were leading by 81 in NYSE & 114 in Nasdaq

VIX Down 4.40% @ 25.66

Oil @ $37.29

Gold @ $1704.80

Canadian $ @ .6507

In my portfolio :

Sold MGM @ $20.00

Sold SU @ $18.73

Bought in closing seconds CIEN @ $56.40

Before open CIEN reporting, here are the expectations :

Sales April Q $881.53 millions, EPS 49 cents

Guidance July Q $969.26, EPS 71 cents

Expecting a beat in Sales and EPS.....

Portfolio AAL APA CCL CIEN CNX CRWD

Stocks which were UP 3% or more  AAL CRWD MGM SU
ZM NTAP LYFT KBH PINS CLDR SQ MU LITE BMO EAT KRA
TWTR TER NCLH DAL BIDU PHM NKE BA VICR JKS FSLR 
MRVL WB BZUN UAL OLED QRVO SLB AMAT LNG LVS
WYNN M.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was in overdrive from open until close, closing near high of the day. Economic activity is perking up in USA which is boosting confidence in equity investing, many had sold in panic due to COVID-19, now they are all backing up the truck, thus unbelievable recovery in recouping all losses. All this euphoria is making me extremely cautious and doing fast trading based on gains. When it seems too good, be warned!

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed