Tuesday, March 16, 2010

Record close for S&P 500 & Nasdaq......NICE !!!!

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
at

12 comments:

  1. standardshighMarch 16, 2010 at 7:44 PM

    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

    ReplyDelete
  2. Stocks100March 16, 2010 at 8:11 PM

    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

    ReplyDelete
  3. madmaxMarch 17, 2010 at 5:12 AM

    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

    ReplyDelete
  4. Stocks100March 17, 2010 at 5:28 AM

    Hi Madmax,

    Good move in booking profit.

    Saleem

    ReplyDelete
  5. standardshighMarch 17, 2010 at 6:50 AM

    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

    ReplyDelete
  6. standardshighMarch 17, 2010 at 6:51 AM

    Hi All,

    The stock TXT may provide good action after a pull back.

    Best Regards

    ReplyDelete
  7. Stocks100March 17, 2010 at 6:54 AM

    Hi Standards,

    CAAS is growing.....

    Saleem

    ReplyDelete
  8. madmaxMarch 17, 2010 at 7:17 AM

    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

    ReplyDelete
  9. standardshighMarch 17, 2010 at 8:57 AM

    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

    ReplyDelete
  10. madmaxMarch 17, 2010 at 12:00 PM

    SALEEM

    Looks like we may go red
    It is selling off!!!!!!

    APLLE down $1
    thoughts

    Best to all

    ReplyDelete
  11. MichaelMarch 17, 2010 at 12:12 PM

    Saleem,

    VXX is deeply oversold. I picked up some.

    Michael

    ReplyDelete
  12. Stocks100March 17, 2010 at 7:57 PM

    Hi Michael,

    Good luck with VXX....

    Saleem

    ReplyDelete