According to the sage of CNBC Guy Adami.... last Thursday was "suppose" to be the day when S&P 500 "reversed" & went sharply down.......another Adami strategy went down the drain....he holds an uncanny record in CNBC for "never seen any rally".....
NOW...back to business @ hand..S&P 500 went to 1162.76 & closed @ 1160.75.....far far above much talked about 1150 "top of the trading range".....Doug Kass call for TOP @ 1130 also stand crushed.....
RSI in S&P 500 stand @ 65.30..room for further jump.....
Internals of the markets were "smoking"
Volume was the heaviest in all Indices......
SO...we have a "breakout" on heavy volume...a recipe for "higher highs"
In my portfolio :
Sold RIMM
Sold VMW
Sold LVS
Portfolio is long AAPL,BIDU,AMZN,ARUN
Short LVS @ $37.35....I know its daring but will be out with some profit..hopefully
VIX Down 7.52% @ 21.76
AH Futures UP
AH Asian markets UP
AH Oil Down
AH Gold UP
BLOG does NOT give buy or sell.
Saleem
5 comments:
SALEEM
so far furtures are UP!!!!!
MCHP is up 2% and DD is up 22% solkd all except 100 shares
Ford did well with the upgrade and I think earnings will be gang busters! I backed up the truck got some FOrd preferred stock...
Will APPLE go to 395 today?/ ANy bets
Regards to all!!
I am so happy about the market turn and to think, last week the news was so negative.
Hi C,
This rally should have leg....because Adami is still expecting collapse...
Good to book profit $$$$
Saleem
Saleem,
I know you already sold VMW yesterday. It was a good move. However, at $77, will VMW be a good buy now?
Michael
Hi Michael,
YES..VMW is a great buy @ current price.
Saleem
Saleem,
Thanks for the information. I put the limit at $77. However, it did not get there, just a few cents. I just bought at $78.1. Let see how it goes.
Michael
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