Indices closed UP .72% to 1.35%.....NICE !!!!

Indices closed strong today, on renewed hope for resolution in Debt crisis.

Internals were strong.

Earning reports were greeted as follows :

APKT <.73%>

PLCM <2.35%>

Earnings are greeted with great focus by traders. IF it is not a major beat, reaction is to the downside.Even when it is a major beat like AAPL it got 2% by close next day. IF earnings are weaker than expected then it is clobbered like TZOO down 34.66%.....I am making a deliberate attempt to avoid being in earnings drama.Last Q ER i suffered in earnings game.

In my portfolio :

SOLD UXG

Bought AMZN @ $213.54.....looks ready for a breakout @ $219.44 for a target of $233.80....as per www.stockconsultant.com earning is on Tuesday AH.....

Portfolio is FFIV,AUY,ATML,AMZN

Here is my $ weighting :

FFIV 36.80%
AUY 28.21%
ATML 19.11%
AMZN 15.88%

Total exposure in market @ 65% from highest level.

Here is the RSI in my portfolio & other stocks :

AMZN 58.77
ATML 41.94
FFIV 38.06
AUY 66.28
APKT 36.57
AAPL 79.38
LULU 72.04
NFLX 50.29
WYNN 68.64

This is a good example of how market is valuing different stocks. Strong stocks base for few days and move higher again.

This is a tough market & i am trying hard to book any gain & position for a quick trade. My drastic & sudden selling reflects my lack of comfort with this market.

RSI in S&P 500 is 60.04 while Dow is @ 62.80, Nasdaq 58.39

I am expecting this market to become even more tough once earnings are over. I intend to play with my exposure depending on the opportunities.

SO....please do not view my sale or buy as an indication of that stock, but more of a strategy & market view.

AH Futures UP

AH Asian markets UP

AH Oil, Gold & Silver UP

BLOG does NOT give buy or sell.

Saleem