Markets absorbed all the selling without even going below Dow 7800...as there ARE willing buyers on any weakness......
Selling is sharp & is over by next noon as a pattern......
These selling is healthy as it takes the froth out in a hurry.....
Today most sectors participated in the rally even Gold,Oil,.....
Semis were weak....
AH AMZN Beat on EPS & is UP 2.34% AH.....
PMCS as predicted had a HUGE BEAT Sales UP 7.14% from consensus,EPS 6 cents vs consensus of 1 cent.....Shares AH UP 10.87%...expect analyst upgrades !!!
Earnings have been better than consensus in Techs......
POT reduced guidance for full year...which is already priced IN for most AG......All AG digested POT news quite easily.....expecting positive tape to resume in AG.....
I pay attention to sentiments & tape quite closely & try to time my strategy accordingly.....I NEVER FIGHT THE TAPE & "can adjust rapidly to what I see"...
Please try to follow your OWN instincts which will add to your comfort level.
No two market environment are the same...so watching TAPE can be very profitable.....always let the market speak as a final judge......
As markets closed near very high of the day...there is a good CHANCE of a strong Friday.
AH futures are small GREEN.....
VIX closed @ 37.15.....
Canadian $ made my day...UP 1.06 cents against US$.....NICE $$$$
BLOG does NOT give buy or sell.
Saleem
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