Markets needed a breather from frenzied runup of last five weeks......
Retail Sales & GS stock pricing gave institutions an excuse to book huge profit today...
Financials were way ahead of fundamentals ...so needed a pullback.....
INTC AH gave a beat on Sales & EPS...BUT not giving forward guidance as they are still not sure about strength in economy.INTC gave a clear indication that they have seen the low already in PC demand and their internal target is for FLAT Q/Q...which was a let down to most of us including me.....
Futures are Down as follows :
Dow Down 47.18
S&P 500 Down 4.85
Nasdaq Down 12.96
Not all news is negative...our much feared VIX actually went down on a down day...Closed @ 37.67......which IS telling me that markets are very healthy & today's heavy volume selling was just profit taking.....
Try not to chase over-extended stocks...there are thousands of stocks which are great value based on FA & TA......
Always remember.....never fall in love with any stock...FA & TA does come into play...keep checking RSI.....
Stay diversified in many sectors !!!!!
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hell all
Some comments on DSXEquities
- Greg Lewis maintains an OUTPERFORM on DSX ($20).
- Natasha Boyden maintains a HOLD on DSX ($13).
- Scott Burk maintains an OUTPERFORM on DSX ($18).
- Kevin Sterling maintains an OVERWEIGHT on DSX ($20).
Hi Madmax,
Thanks for DSX analyst rating & target.
Good for a view of entire industry.
Saleem
Hi Saleem,
Nice commentary today. I like the VIX low too, nice orderly trading. Options Friday coming up, traders will be adjusting positions for expirations.
Best Regards
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