Indices fought bad economic reports & are moving UP..
Indices were oversold going into bad economic data.
Internals are positive by over 2 to 1
More new 52 wk highs in NYSE & Nasdaq
Gold Down $7.10
Oil Down 84 cents
Canadian $ Down 15 tick @ 102.11
VIX Down 5.86% @ 16.07..getting close to lower end of the range
Portfolio is LULU,SVM,TZOO,CCJ.....
Most stocks are UP
@ 2.16 following are RED :
LULU ( downgrade), TZOO, SVM,CCJ,( batting 0/4..on UP day)
PWRD,SLW,AG,AAPL,GOOG,EXPE,SOHU,V,CNQ,NVLS,
FMCN,RCI,ECA,NDAQ,MFC,NYX,FSLR,TTM,SNE,GNK...
BLOG does NOT give buy or sell.
PS..had to step out..thus delay in posting.
Saleem
3 comments:
Saleem,
Do you think TZOO is in consolidating before moving up or something else? Thanks.
Michael
Hi Michael,
TZOO TAPE became weak after hitting $75+ 2 days ago....
Volume is below average....
Let us watch how it closes.
Saleem
Hi Michael,
I looked @ TZOO TAPE after close.
Its recent low week of May 16 was $63.20....it worked its way back UP to $75.48.....a rapid jump of $12.28 or 19.43% in 3 straight days...
Since then or in last 4 trading days it has given back $4.40 or 5.83%......
TZOO 50 DMA is $72.15 where it goes daily but has closed below 2 days in a row.......
MY GUT tells me to stay with TZOO as these are normal back & forth...
Todays volume was below average also....
I am staying with TZOO for now !!!!
Saleem
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