Today's close is NOT good technically......from making new 09 HIGHS to reverse all the gains & close near low of the day???
S&P 500 saw a reversal of 1.8% @ close????
Lot of reasons are being given from Fed Beige book to Dick Bove sell rating on WFC...BUT we have to accept the verdict of the TAPE which was a very WEAK close......
TAPE is always correct in defining the day..it needs NO reason......
As we ARE elevated a CAUTIOUS trading approach IS PRUDENT.....like quick trades & locking all profit... as i am doing for a while......
I will pay close attention to how we close on Thursday......
RSI in S&P 500 is @ 57.72...in mid range between buy & sell......
In my portfolio :
Sold AAPL
Sold GNK
Portfolio is AUY,BAC,COMS,MRVL,RIMM......
AH Futures are mixed
AH Nikkei is Down 1.07%
AH Gold is UP
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Saw that WFC news, sounds about right. A cautious approach is prudent at the moment. Traders may start locking in gains. Very nice trade in GNK! You Da Man! More opportunities coming....
ATL gas $2.49. Cost of living rising.
Job market in very poor condition. Buyers market in real estate.
Best Regards
Hi Standards,
Thanks for your feedback.
Economy certainly is not "out of woods yet"
Saleem
Standards
it has and still is a buyer market
I will hold my 150 shares of apple. Hoping for the $300 run smile
GNK was an awesome call-great move Saleem,
Lots of chatter on the new about national health care and pay salaries, I think this is affecting the market
I saw that GOLD is down--AUY is slipping back a little, thoughts
Best to all
Hi Madmax,
AUY bid $12.07 ask 412.13 close $12.03.....
Good luck with AAPL.
Saleem
Hi Saleem,
Have you seen BUCY lately? On fire! Dang!
GNK heading back to teens?
GE pointing down RSI weak.
Best Regards
Hi Standards,
Missed BUCY completely...
Just bought GNK AGAIN for quick trade....
Saleem
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