HFT had sell button ON till closing second. Indices were given no chance to breathe.Some established support were obliterated in nano second.
How severe was this sell button, have a look @ internals :
Down Volume led by 91 to 1 in NYSE & 97 to 1 in Nasdaq...for the record, i have NEVER seen this ratio EVER..not even in 1987,2000 or 2008....
Declining stocks led by 19.71 to 1 in NYSE & 13.02 to 1 in Nasdaq
New 52 wk lows were 442 in NYSE & 287 in Nasdaq
Volume was way above average ......
RSI in S&P 500 closed @ 23.99....a screaming BUY
VIX jumped 35.41% in a day, closing @ 31.66...a new high for 2011
All of the above stat is a sign of "major capitulation"
There is lot of talk as to where S&P 500 is headed, my focus is either to maintain my position or add strategically.
We have been "conditioned by CNBC" to worry about market direction...how low how low mantra..but never focus on "fire sale in stocks"
Here is the RSI in my stocks & other popular name for your review :
FFIV 32.04
LVS 43.60
LULU 42.51
RVBD 36.92
CNQ 28.31
BIDU 45.13
AAPL 52.53
GOOG 50.97
CRM 35.01
WYNN 36.83
AMZN 39.58
MOS 37.96
NFLX 33.09
IF you have focus in stock prices then you will find above list compelling. Nobody got rich worrying about markets only, stock focus can make a huge difference in return.
Market character changes on an ongoing basis & we all must adjust. I have been very vocal about booking profits & reducing exposure. Also profit expectations have to be small.Every market is different.
Easy money was made from March 09 to January 2010......BUT that kind of market is extremely RARE......Now it is "technically driven trading market"...one needs to look beyond few favourite stocks....learn more about other industries & pick winners.....ROTATION will be the name of the game.....
AH ER were greeted as follows :
PCLN +9.65%
CF + 5.59%
LNKD +4.69%
FSLR <2.79%>
AH Futures UP
AH Asian markets Down
AH Oil,Gold & Silver Down
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hey Saleem,
Amazing stats today! A good trading bounce should be near/upon us :).
In regards to a specific concern I have, I feel like RVBD is a stock that can see delayed/cancelled orders in the lack of confidence situation that we currently see. I know you would likely sell on a good bounce anyways, but do you feel that from a fundamental perspective it may be dangerous here? I feel like it may be the most vulnerable stock in my portfolio.
Thanks for your input.
Stocktrader
Hi Stocktrader,
When i analyze all my stock including RVBD, i also rely on www.stockconsultant.com whic is rating RVBD @ 90 which is highest rating in my 4 stocks i own....FFIV is also 90, LVS 60 & LULU 45......
I rely on RSI more than above numbers..RSI in RVBD is 36.92.....
IF you do not feel good about any stock then it is wise to sell....comfort level has to be high to keep any stock......I follow the same rule.
Good luck with your decision on RVBD.
Saleem
SALEEM
thanks for sharing your knowledge with us
I love it!!!!
Still have one buy left. Looking at APPLE,,
I see a few green stocks in pre market $TZOO, LULU ETP
My EVEP is down in premarket it is trading ex dividend
Hmmmm
Saleem,
It seems that market cheer up with the job number. Should we sell on the good news or let it ride? Thanks.
Michael
Michael
What a reversal in pre market way up!
smoke is not clear yet, IMHO
I would bet that we should sell any week stocks and cash is KING.
Gold is up pre market
good luck
C,
Thanks for your input. It is scary market.
Michael
C,
I saw apple at 372 premarket before Job report. Now it is 382, 10 bucks different!
Michael
Michael
APPLE is my favorite
I saw the pre market moves
EVEWP and TZOO and LULU are up huge too
Was going to try and snag some Apple cheeper today
I think that may not happen
the TV keeps playing the tune market is in trouble
Heck we can all see that and fell it to
Should be a very interesting open!!
thanks for your reply have a good en
Saleem and C,
It seems that there is a tug of war going on between bull and bear. Market flipped between green and red in a couple of seconds.
Michael
Michael
we may close red
The market looks week here
I do not know where the floor is yet
amzn, TZOO is killed and apple is at $371 I am looking for support
my PPL divi play is holding green by a thread..
I hope you have some cash and are waiting to pounce once we get the direction clear in our collective heads
C
Michael --Saleem
the market is GREEN
I am not sure what was the reason
so many broken 100 and 50 day averages were broke
I tried to get apple cheep--missed it
still a bargain at $376.
Saleem and C,
Do you think the bottom is in place or just oversold bounce? Thanks.
Michael
MICHAEL
If you have a stock in mind develop a target and pull trigger when it hits
IMHO that is the thing to do
I am doing it
so far I bought and sold POT and AGNC for few bucks
what looks good TZOO, BIDU, EVEP, RVBD
You be the judge --- be happy bargains galore
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