Nasdaq was down 1.46% @ close,Low today was 2717.79...close was 2725.36.IF we do NOT go lower than 2717.79 then we stabilize @ these level ?
RSI in Nasdaq is now @ 62.22......
Internals of the market was poor as listed below :
Down volume led by 8.32 to 1 in NYSE & 5.78 to 1 in Nasdaq
Declining stocks led by 3.45 to 1 in NYSE & 4.73 to 1 in Nasdaq
AH FFIV plunged $30.93 or 22.29% on Sales miss...
AH RVBD Down 9.74%,APKT Down 5.68%,ARUN Down 5.8%,CRM Down 4.42% all due to FFIV Sales miss.....
AH EBAY UP 2.96% on EPS beat
VIX UP 9.07% @ 17.31
AH China GDP came out better than consensus @ +10.3% vs expectations of +10.2%
AH China inflation came less than expected @ 4.6% vs expectations of 4.7% to 4.8%
Hopefully this news may give some support to markets on Thursday.
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
4 comments:
Saleem,
Happy New Year!
Thanks for the encouragement. I came back from an oversea trip to see my portfolio up so much. I sold everything except FFIV and RVBD. They both took a beating today. I made wrong decision by added more FFIV at $112. Now, I am on FFIV heavily. I may sell half of it, if it is up a bit by tomorrow. Otherwise, I am just hold it for a while.
Well! you win some loose some. It is just part of the game. Now, I need to recoup and plan for the next move.
If you think it is not wise to keep FFIV anymore, please advise. We can better gain back our lost by invest wisely than keeping the under dog. Thanks as always.
Michael
Hi Michael,
The most important thing is that you have to be comfortable with what you own.....FFIV Sales picture is definitely a let down.
FFIV has been taken down much more than what was justified.....so there is a good chance of FFIV moving UP....
Volume in AH was almost 200% of daily volume....so hopefully bulk of the selling is out of the way...
FFIV is so LOW now that it CAN become a "takeover" candidate also.
BUT...your comfort level is what is important IF you want to keep all or part of your holding.
Like all FFIV investor/trader I will see what analyst target is now after today..then only i will be able to see what to do.
I will post IF i decide to sell part or all of my FFIV.....
Saleem
Saleem,
We got Credit Suisse & Gleacher on our side. Will this be a good sign?
Michael
hi michael,
yes upgrade is always good.
$130 is NEW target by 3 analysts.
Saleem
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