Fed statement was taken as positive by markets.....
S&P 500 & Nasdaq closed @ new highs...which IS extremely positive....
Dow is 43.91 points away from making a new high.....
Internals were positive with advancing stocks leading by 22 to 8 in NYSE & 16 to 10 in Nasdaq
New 52 wk highs were 378 in NYSE & 198 in Nasdaq....
ONLY weakness has been & remains IS volume..which was still below average in all Indices.....
In my portfolio :
Sold SOL
Sold IAG
Added 36% more APWR @ $12.59
Bought VXX @ $23.06
Portfolio is APWR,GNK,VXX.....25% exposure in this market?
RSI is pushing ABOVE 4 months average in all Indices as listed below :
Dow 68.87
S&P 500 73.19
Nasdaq 74.93
VIX closed @ 17.69 Down 1.72%...while VXX was down 3.05%....which peaked my interest...VXX traded 6.74 million shares......
AH futures are mixed
AH Nikkei,Shanghai & Singapore UP
AHOil, Gold & Silver UP
AH FMCN ER was a beat UP 7.75% on AH volume of 120,034
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hi Saleem,
GE looked like the only thing holding the market up. We're in the nose bleed section on RSI.
Overseas is headed higher.
We may top out just before OE.
Who knows....kinda worrisome here.
Best Regards
Hi Standards,
I am extremely cautious.....which I have articulated for few days...
I was never this defensive..which I learned with last year slump...
Saleem
SALEEM
Howdy
RSI:
dow-----68.9
NAS-----75
S&P-----73.1
place any bet on an over bought market?
Sold all my stocks except tiny positions in BMY, MO, SEP, HAL etc.
Good luck to all this is sure to be a very interesting week. J the Cramer is screaming sell. Hmmmm-he is such a smacked butt
Hi Madmax,
Good move in booking profit.
Saleem
Hi Saleem,
Nice moves in Asian markets last night.
Saw an interesting stock CAAS? China automotive which makes power steering and automotive products. Chart looks interesting.
Best Regards
Hi All,
The stock TXT may provide good action after a pull back.
Best Regards
Hi Standards,
CAAS is growing.....
Saleem
Standards
TXT may be an awesome play
It moves very fast --
GE is going to increase the Divi good play on pull back
Get some apple on any larger pull back the iMac sales are up huge and iPad will be blow away sales
Regards
Hi Max,
I like GE but too pricey right now,,,on a pull back it would be interesting. I expect much lower price on GE some time this year, as people forget the news. Maybe this summer in the doldrums.
Best Regards
SALEEM
Looks like we may go red
It is selling off!!!!!!
APLLE down $1
thoughts
Best to all
Saleem,
VXX is deeply oversold. I picked up some.
Michael
Hi Michael,
Good luck with VXX....
Saleem
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