All Indices made a rush towards new highs but only Dow made it into new highs.....S&P 500 is fractions below new high..Nasdaq ia further behind....
Gold made it into green also
Canadian $ closed near 97 cents US again
Solar stocks took it on the chin earlier sporting about 7% loss then came roaring back & some made it into green..nice turnaround....
In this market traders need to understand that sharp intraday loss is nothing to fear about as stocks can turn in a hurry.....knowing FA & TA helps in conviction...
Strong stocks included POT,IAG,SLW,TC,PALM,SOHU,
AAPL,RIMM,BIDU,CREE,AGU,AMZN.....
AH Futures are green
AH Nikkei UP
AH Hang Seng UP
AH Shanghai UP
AH Gold UP
AH Oil UP
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
How is the VIX? I read a story that the VIX can signal a sell off. I would not think such a low reading would be cause for caution but some think so. What is your take on it?
Best Regards
Standards
Hello to all
Standards
Are you now back to trading and did you get any GNK?
The market is racting to any negative news and looking for reason to take profits-today it is China tightning up tomorrow OE.
This is a rough week--IMHO.
Very best to all
Hi C,
No I did not buy GNK yet......Any news is an excuse to adjust stock prices for options expiration on Friday. I always discount it.
I'll let you know when I do.
Best Regards
Hi Standards,
VIX is NOT flashing sell signal....actually it is giving a buy signal for stock market...
When any index like VIX hits a series of new lows ...then optimism is shown for stocks....
VIX can go as low as 10...where it was in the last major bull market....that is my interpretation......
VIX just made another low already....
Saleem
Saleem,
Do you still like your option play?
Hi Victor,
Yes..I still like FUQI calls for Feb 22.50.....it may move very quickly.
Good luck in your strategy !!!!
Saleem
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