Wall Street threw a party & everybody came.....when the day ended indices were UP 1.46% to 1.96%.....
Internals of the market were strong.......but not extreme to worry about any serious pullback,means more room may be left in this rally....
RSI are creeping UP..Nasdaq is @ 79.80...but these may be mild numbers if you look @ LVS RSI @ 87.37......
So.... it is all about Jobs report,which is expected to show job growth of 60,000
This market has caught most investors/traders off guard,so any weakness will be bought to fuel this rally further.....
VIX stands @ 18.52...i have seen it in single digit based on memory,another indicator that we may have further room to grow.....
Current economic stats are proving many so called "genius" like David Rosenberg who championed that after "cash for clunkers",car sales will tumble to lowest level in history...Not SO....F making series of highs ????
Carter Worth again was almost "negative bound" saying that we will be stuck & turn lower,he called the top in 1130 area alongwith Doug Kass....
Prechter called for 400 in S&P 500.....
Guy Adami did not believe any rallies since 666 in S&P 500.....
Why all these soothsayers quote are important,because you need to do your OWN homework & not follow anyone,only last week Jimmy the Cramer was predicting pullback of up to 10% ????
BUT..remember to keep booking profit and position in new trades.....
AH ER ATML was a beat & guide UP 5.38%
AH ER MGA was a huge beat & guide UP 3.96%
AH Futures Down
AH Asian markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
2 comments:
SALEEM,
J Cramer says up or maybe down this week by 10% he hedged his bets. that is all CNBC does--hype!!!
I was amazed by the volume and buying yesterday--volume up and shorts covering their bets!, IMHO..
Sold BIDU SOLF holding APPLE as the best is yet to come on that tart!
I got the KGC--thanks to your Blog--how astute you are.
I finnished the book Pillare of Fire--a good read..
the market may pop again today if the employment numbers are good
THE BEST TO ALL
Hi C,
Is this a bull market or what !!!!
Jobs +151k almost 2.5 times the expectations.....
Lot of pundits on CNBC were thinking jobs report will be very bad,that is why Fed came up with $600B QE2 ????
What will they think of next ....
Saleem
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