S&P 500 closed @ 1141.20.....

S&P 500 had a wild ride UP to 1157.16 & then slumped to 1136.08 only to close @ 1141.20.....

Today volume was highest in a long time for a Thursday.....which meant that lot of HF were booking profit & selling into opening rally.....

Market has gone UP the most of any September in history...so I along with many were positioned to sell into strong open...except for one sell of CRUS rest were booking gains..I am glad that i sold when everything was green or else i would have looked @ loss in most of my position.....

RSI of S&P 500 is @ 60.68...which is in neutral zone..BUT any dip will be a buying opportunity..

I do not believe that we are going into a "serious loss in October" BUT it could be choppy in next two weeks then good earning reports will give a lift.....

Many stocks are outperforming market averages..so it may not be a bad idea to stay put in strong sectors .....

My current portfolio is LVS,SNDK & VMW......

I am always looking for trading opportunity both long & short......

China PMI which comes tonight will set the tone for markets worldwide......i delayed my post to include those numbers but they are still not out......

AH Futures are Mixed ahead of Chinese PMI numbers...

AH Asian markets are Mixed

AH Gold Down

AH Oil UP

BLOG does NOT give buy or sell.

Saleem