Thursday, March 18, 2010

Market internals were negative @ close ????

Indices mostly closed higher with S&P 500 barely in red.....BUT internals were decidedly negative in most category as listed below :

Declining stocks were in the lead by 17 to 12 in NYSE & 15 to 11 in Nasdaq

Down volume led by 58 to 32 in NYSE & 28 to 27 in Nasdaq...

Yes...volume still below average for most days in this rally ???

Many optimistic bulls are turning scared by this rally ....saying IF we were UP 15 days in a row..we will be down 15 days in a row also......

Many traders are announcing their short position...a rarity in hiding most of their trades from public???

All in all..... Internals, RSI are all pointing to a major hit in the markets.....

RSI @ close were :

Dow 73.03

S&P 500 74.97

Nasdaq 76.67

In the last 4 months...NEVER..we reached these levels in any Indices?????

Friday is our famous Triple expirations for Options...should be a "very interesting day"

VIX closed @ 16.62 Down 1.71% above its low of the day of 16.31..while VXX down 1.38%...

AH PALM ER & guidance was a major miss..Down AH 14.51% in AH volume of 2.27 million

TSL was down 11.01% on huge volume of 9.28 million on its secondary offering being priced @ $20.25 ????

AH Futures are mixed

AH Nikkei , Singapore UP

AH Oil,Gold,Silver Down

BLOG does NOT give buy or sell.

Saleem

10 comments:

c said...

SALEEM

Good Morning to you and all

Looks ugly out there!!!!! BIDU up $15 smackers
Red is out color today

If I was smart and knew how to short stocks I would say GE and GS are perfect candidates! what do I know
I am a poor trader!
best to all

Stocks100 said...

Hi C,

Safest way to short any stock @ this stage is through April put purchase close to in the money....

Saleem

c said...

Hello Saleem

put an order in for some VXX at $22

I think the market has turned ugly now
Bloomberg says we are going down by a lot
if TV says it, look out in my opinion

Am I making a good decision on buying VXX?
thanks

Stocks100 said...

Hi C,

VXX is a good way to gain from slump in markets....

I will give a market order NOT $22...

Saleem

c said...

Saleem

I got some at $22.50

Market is red -- Green is VXX --wow
Yeas

thanks

Stocks100 said...

Hi C,

VXX is a hold until market bottoms....which could be weeks.

Good luck with VXX !!!!

Saleem

c said...

SALEEM

Here is some basic research on safe stock bets that pay huge divi's and have potential for up tick in stock price...Name RSI TARGET DIVI % Current Price
DuPont DD
75 38 4.4 36.80
Kinder Morgan KMP 55.4
63 6.5 64.35
Verizon VZ 66 32 6.3 30.45
Altria MO 64 22.83 6.2 20.46
Quest Q 77 5.33 6.4 5.3
British Pet BP 61.8 56 5.8 57.53
Eli Lilly LLY 62.7 37 5.4 36

Stocks100 said...

Hi C,

WOW...6%+ int in many of your list.

Saleem

standardshigh said...

Hi All,

Ah what the heck, I'll join the club and buy some VXX too!

Bought VXX

Best Regards

Stocks100 said...

Hi Standards,

Welcome to VXX club...the safest way to make money in market slump ....

Saleem