Our markets are enjoying their longest winning streak since September (S&P and NASDAQ), rising for the sixth day in a row. All the hand wringing by the pundits, the sellsiders and the woe-is-me crowd turned out to be total garbage. Corporate earnings and guidance are coming in better for the most part and M&A activity continues at breakneck speeds.
The Trannies were higher by 0.6% and finished the day at an all time record high.
March existing home sales also fell less than expected which further gladdened investors.
The S&P closed up 8 points or 41 bips, the Dow was up 65 or 40 basis points and the Nazz tacked on 40 points to end the day higher by 97 bips.
As I write this closing summary, Asian stocks are trading mixed with the Hang Seng down 209 points, the Shanghai Comp is down 5, the Sensex is up 50 basis points, KOSPI is down by 0.19%, Taiwan is lower by 0.20% and finally the Nikkei is up 158 points or 1.09% on the day.
On the trade front, we made three trades last week and one on Monday:
We made $8,450 on INFY ER.
On YHOO earnings, we were up $7,300
On GOOG we were up $1,982
And, finally on NFLX yesterday, we were up $6,442.
That is $24,174 in less than a week!!
How did you do?
Check it out on the website!
Wednesday’s Economic Calendar:
7:00 MBA Mortgage Applications
9:00 PMI Manufacturing Index Flash
10:00 New Home Sales
10:30 EIA Petroleum Inventories
Techland Earnings Before Wednesday’s Open:
Techland Earnings After Wednesday’s Close:
AAPL, ANGI, FB, FFIV, FIO, FTNT, IM, INFN, LOGI, LRCX, QCOM, TQNT, TXN, XLNX, ZNGA
News of Note After the Closing Bell on Tuesday:
VMW down afterhours on muted bookings guidance, EMC also down in sympathy.
JNPR guides slightly higher but shares off a bit in AH.
IRBT also down on slightly muted guidance AH.
Chinese PMI below 50 but a bit higher than last month but lower than expected by the pundits.
ERIC reports lower than expected revenues and is down 5.5% in Stockholm.
Check out the chat room for our daily long/shorts/agnostic ideas and live trades BEFORE we make them and lot more. What have you got to lose but the chance to significantly goose your returns?
Alternatively, please feel free to contact me directly at firstname.lastname@example.org if you want to discuss group rates for your firm or any other questions/comments/suggestions you might have for me.
Since inception (Feb 1, 2013) our model is up 136.13% versus a rise of 30.90% in the Nasdaq and a rise of 29.37% in the Nasdaq 100 (which is our benchmark) for the same period.
As always I hope you have enjoyed reading this summary as much as I have enjoyed writing it for you.
PS: Obviously, we can’t offer you a guarantee as past performance is not indicative of the future but you will be glad you took the free trial and then turned into a subscriber. That part I can guarantee. You can cancel anytime as well if that’s what you would like to do.