Only .14% to .37% pullback @ close...NICE !!!!

This bull market showed its resiliency again by erasing most of the losses by close.How we close is absolutely critical in any market.

S&P 500 found support above previous low of 1173......we closed @ 1187.76..RSI @ 49.17.
S&P 500 also closed above 50 DMA of 1177.31.....we have NOT closed below 50 DMA since end of August......

Today had the feel of selling getting exhausted.Buying on weakness is a strategy which i have followed & stocks that are NOT working out as planned should be sold.

In my portfolio :

Bought LVS @ $49.50

Portfolio is AUY,BIDU,FFIV,JKS,AAPL,AMZN,LVS,NFLX......

As you can clearly see, that i have high comfort level with this market.Sometimes i get sloppy with some weak stocks then wake up on a day like today to prune them out.Another strategy which i have been very successful is to trade in & out of many strong stocks which has high volatility like AAPL......

SO IF you are tracking my portfolio, please keep in mind that i may sell into strength or IF i find a better trading idea.It is never a reflection about how i feel about that particular stock,I may buy the same stock next day IF price is right based on charts.

This market is like dot.com days of 1998-2000,thus trading extremely high beta stocks are highly desirable...that is what i am getting into.High RSI are not necessarily bad in this type of market.

Strong stocks which were UP 1% or more included AMZN,NFLX,SLW,IBN,X,CREE,TCK,BAC,
NVTL.....

Before open TSL reports,expecting a beat & upbeat commentary about upcoming Q & higher guidance......

AH Futures Down

AH Asian markets Down

AH Gold,Oil Down

AH Silver UP

BLOG does NOT give buy or sell.

Saleem