Markets are adjusting to tug of war between bulls & bears after a huge runup.......
S&P 500 has lost 37.95 points from 09 highs or a pullback of 3.45%......
RSI is @ 48.55...in buy zone...
Current market TAPE is a small down move which is desirable to cool off rampant bullishness...
Despite many weaker data we are NOT going down in a hurry which reflects continued buying support....
AH Futures are all GREEN
AH Gold UP
AH Oil UP
AH V ER was a beat UP $1.40......
AH Nikkei Down .44%
BLOG does NOT give buy or sell.
Saleem
5 comments:
Saleem
Good morning my friend
J the Cramer was saying that hedge funds were moving the market till Thursday after noon! He says take this time to sell
Market at 8Am is a sea of red
Good luck to all
thoughts
Hi Madmax,
There is some truth to JC statement.
It will be wise to book profit as I have been articulating for a week.
I intend to book profit IF I get a chance still.....
It is better to be safe than sorry.
GNK reporting After close.
Saleem
Hi Saleem,
Overnight overseas markets took a tumble. I expect to see more of the same here today.
GNK being dragged down with overall markets.
Best Regards
Hi Standards,
Yes.... even Europe was in deep negative last time i checked before open.....
Based on RSI we are now in oversold area.....
GNK ER is AH.....and is not acting well so far.....maybe sign of shakeout before better ER...i do expect guidance to be better than consensus...
Saleem
Hi All,
GE taking a hit, will buy back on turn around. GNK in buying range. Has good support 18-19.
Maybe some good opportunities coming soon!
Best Regards
Post a Comment