Market is doing its usual thing.....keeps going UP when most traders are "worried"
Worrying has NOT been a good strategy with this market......
RSI reading is a good guide of "not to worry"
When we hit 80 in RSI in indices...then there will be "lot to worry"
Market TAPE has been very orderly & strong since early July......
All indices are UP from .76% to 1.40%.......it was NOT meant to be....as it is long weekend and everyone is GONE......this is a "blackberry world"..nobody is ever gone..IF they want to trade from beach or on the road.......
I am expecting good thing from this market when everybody is back on their desk on Tuesday..it will be fun to watch Adami long face AGAIN......Art non-Cashin should be hilarious also..looking for negatives from Ramadhan to Shanghai.....
Oil down 47 cents
Gold Down $6.60.....but Gold & silver stocks are behaving well...telling me that they want to go HIGHER.....
Canadian $ is "rocketing UP" based on Job creation & GDP growth in June...UP 1.61 cents..a huge move in a long time.....now 92.25 cents US for 1 CAD
Portfolio remains POT,SOL,RIMM......
Most stocks are UP
US Job loss was less than expected...improving economic numbers worldwide...remember we had 700k job loss back in Jan 09..NOW 216k...is this improvement or what !!!!
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Not sure why futures are being pushed up today. No great news, then an abrupt jump in buying???? Odd....I missed a great little trade in GE, but I'm skeptical of it in the near term. Best to wait than chase right?
Best Regards
Hi Standards,
You know it is very hard to control myself in buying more...had many ideas since open..but have NOT executed anything....
Something is telling me that i will get better price by close? MAYBE...
YES..always buy when you are very sure of your trade....there is always next trading day.....
Saleem
Hi Saleem,
Looking at the futures chart, the dow shot up 100 pts starting at 9 am and finishing at 11 am, then choppy flat line trading, no follow thru. Buying dried up fast. You are right, I'm getting all kinda of ideas since open too, but I believe better prices are near. Looking at the 3 month MACD, it appears we are on the downward slope now. BDI +1 flat line.
Best Regards
Hi Standards,
Good technical analysis.....
I implemented one of my ideas..details in my final post of the day.....
Saleem
Hey you guys I am so sorry that I did not get on board today
the last hour was awesome guess we all missed a trade.
thanks are in order to all for keeping informed by good messages--hurray
Hi Madmax,
Thanks for your appreciative note.
I did one extra post for whatever it was worth???
I thought somebody MAY get some ideas going$$$$
Saleem
Here is the IBD 100 listing:Symbol Company Name IBD 100 Rank Current Price Price Change
WXS Wright Express Corp 85 29.94 0.44
WNS W N S Holdings Ltd Ads 14 15.07 0.07
WMS W M S Industries Inc 38 41.95 0.39
WIT Wipro Ltd Adr 53 15.74 0.21
WCRX Warner Chilcott Plc 37 20.49 0.22
VPRT Vistaprint Nv 26 40.71 0.33
VMI Valmont Industries Inc 91 81.63 0.48
UNFI United Natural Foods Inc 78 27.86 0.43
TUP Tupperware Brands Corp 63 37.76 0.11
TSRA Tessera Technologies Inc 75 25.26 0.08
TSL Trina Solar Ltd Ads 88 26.43 0.19
TRLG True Religion Apparel 76 22.00 0.03
TRCR Transcend Services Inc 46 15.80 -0.08
TLVT Telvent Git S A 22 26.04 0.32
TLEO Taleo Corporation Cl A 10 17.95 0.17
TJX T J X Cos Inc 95 36.19 0.44
TIS Orchids Paper Products 54 18.79 -0.72
TIN Temple Inland Inc 90 17.34 0.38
TECD Tech Data Corp 61 38.97 0.67
SYNT Syntel Inc 40 41.25 0.79
SXCI S X C Health Solutions 4 41.51 1.58
SWM Schweitzer Mauduit Intl 45 47.35 0.21
STEC S T E C Inc 2 39.50 0.89
STAR Starent Networks Corp 94 23.32 2.03
SNX Synnex Corp 50 30.38 0.52
SIRO Sirona Dental Systems 17 27.02 0.87
SHOO Steven Madden Limited 48 31.94 0.03
ROST Ross Stores Inc 60 46.99 0.49
RKT Rock Tenn Co Cl A 35 49.32 1.30
RHT Red Hat Inc 47 23.63 0.52
PWRD Perfect World Cl B Ads 43 39.83 0.60
PHH P H H Corp 68 20.29 -0.04
PEGA Pegasystems Inc 24 30.09 0.38
PCLN Priceline.Com Inc 8 153.79 2.16
ORN Orion Marine Group Inc 11 22.73 0.42
NVEC N V E Corp 12 54.00 1.60
NTES Netease.Com Inc Adr 19 42.52 1.20
NFLX Netflix Inc 56 40.95 0.66
NEU Newmarket Corporation 9 83.77 0.82
MR Mindray Medical Intl Ads 59 31.65 0.17
MELI Mercadolibre Inc 29 32.63 1.07
MED Medifast Inc 5 17.88 0.56
MDAS Medassets Inc 100 21.60 0.18
LZ Lubrizol Corp 42 65.72 0.54
LULU Lululemon Athletica 67 19.97 0.18
LTM Life Time Fitness Inc 70 29.24 0.17
LL Lumber Liquidators Inc 23 20.51 0.18
LINC Lincoln Educational Svcs 79 22.04 -0.32
LFT Longtop Financl Tech Ads 72 25.01 -1.06
LFC China Life Insurance Adr 96 65.93 1.34
JOSB Jos A Bank Clothiers Inc 31 47.02 1.07
JDAS J D A Software Group Inc 81 19.79 0.33
JCG J Crew Group Inc 69 33.65 0.16
ISRG Intuitive Surgical Inc 62 227.41 5.59
ININ Interactive Intelligence 20 17.53 0.76
INFY Infosys Technologies Ads 77 44.91 0.57
IMA Inverness Med Innovatns 55 36.79 1.10
ICON Iconix Brand Group Inc 41 16.87 -0.14
HMIN Home Inns & Htls Mgt Ads 7 27.65 1.82
GYMB Gymboree Corp 82 45.20 0.34
GOK Geokinetics Inc 44 16.02 0.24
GMCR Green Mtn Coffee Roastrs 3 58.60 0.23
GLP Global Partners Lp 83 22.85 0.29
GIII G Iii Apparel Group Inc 34 14.44 -1.49
GFA Gafisa S A Ads 33 29.05 1.87
GES Guess Inc 51 34.47 0.13
FUQI Fuqi International Inc 1 27.57 1.27
FTI F M C Technologies Inc 93 47.66 1.07
EMS Emergency Medical Svcs 57 46.79 -0.06
EJ E-House Holdings Ltd Ads 16 20.36 0.88
EBIX Ebix Inc 13 52.49 1.20
DEST Destination Maternity Cp 87 19.25 -0.65
CTSH Cognizant Tech Sol Cl A 36 35.39 0.80
CTRP Ctrip.Com Intl Ltd Adr 28 53.83 3.58
CPA Copa Holdings Sa 58 39.57 -0.07
CMG Chipotle Mexican Grill A 71 85.82 1.32
CISG Cninsure Inc Ads 6 18.23 0.33
CFSG China Fire & Security Gp 15 16.14 0.94
CERN Cerner Corp 97 63.71 0.73
CCE Coca Cola Enterprises 80 20.32 0.02
CACC Credit Acceptance Corp 21 28.06 0.06
BWY B W A Y Holding Co 30 16.58 0.19
BWLD Buffalo Wild Wings Inc 73 40.74 0.43
BMA Banco Macro Sa Ads 39 22.23 0.13
BJRI B J S Restaurants Inc 74 16.62 0.12
BIDU Baidu Inc Ads 18 343.27 13.79
BCSI Blue Coat Systems Inc 84 18.54 0.05
ATNI Atlantic Tele Network 32 47.45 2.45
ATAC A T C Technology Corp 99 20.90 -0.10
ARST Arcsight Inc 66 21.97 2.31
ARO Aeropostale Inc 25 41.66 0.37
AMSC American Superconductor 86 30.99 0.24
AIRM Air Methods Corp 27 34.32 0.68
AEPI A E P Industries Inc 65 38.18 0.40
ADY American Dairy Inc 89 30.47 0.53
ADVS Advent Software Inc 92 38.67 0.24
ADS Alliance Data Sys Corp 98 55.71 1.22
ABVT Abovenet Inc 64 44.68 -0.32
ABAX Abaxis Inc 52 26.63 0.56
AAPL Apple Inc 49 170.31 3.76
Hi Madmax,
Thanks for IBD 100 list.
Saleem
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