Indices are @ their highest level since hitting 1101.......
S&P 500 closed @ 1210.08 which is 109 points higher or 9.9% UP move...
Internals were as listed below:
UP volume led by 34.46 to 1 in NYSE & 43 to 1 in Nasdaq...extremely strong TAPE
Advancing stocks led by 10.43 to 1 in NYSE & 12.85 to 1 in Nasdaq
New 52 wk highs were in lead... 29 in NYSE & 26 in Nasdaq
VIX down 9.27% @ 32.28
SO...everybody feeling good after this UP move.....?
The question we all have to ask.......what changed to support
a 10%++ move ?
Not much.....
Volume today was well below average & below Friday......NOT a good sign based on strong UP move in markets.....again HFT are either short covering or enticing buyers in ?
Based on my personal feel of the market & TAPE...i have more sell order placed ...
IF my sell orders are filled..i will be left with AUY & KGC only......my exposure which went UP to 135% of my normal is already @ 90% with AAPL sale....once my sell of AMZN & BIDU executes, i will be @ 41% exposure...where my comfort level will be high......
Markets are always impossible to interpret, but lately it is more so. I would rather be on the safe side than be @ the mercy of HFT......
Stocks which were UP 4% or more included LULU,APKT,RVBD,
MOS,RIMM,LVS,BAC,VMW,SOHU,QCOM,CRM,M,PLCM,
JDSU,CIEN,FNSR,ARUN,CRUS,SNDK......
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold & Silver UP
BLOG does NOT give buy or sell.
Saleem
12 comments:
S
have a great day
I am glad that your medical appointments will tell us about your health! Great news--get better quick
Smile
Look at MCD on a tare going to $100
EVEP is coming back up $73 coming
best of luck
Hi C,
Thanks for your ongoing best wishes for my health.
Hope Electricity is back ON for you.
Oil may be under pressure as Libyan production hit world market.
Saleem
Hey Saleem,
The Evans interview on CNBC was disappointing. I hope he's the outlier because I want nothing to do with QE3. In retrospect, the biggest outcome of QE2 was higher commodity prices--nobody wants that kind of "stimulus". Let the real market forces do their own rebalancing over time--that's the best market prescription.
Hope all is well.
Stocktrader
Hi Stocktrader,
I do not have CNBC in my TV for almost 3 yrs....saves lot of "freakish analysis"...
Only watch on internet Fast/Mad around 8 PM.....to get a feel for what GENIUS of CNBC are upto ?
Saleem
Hey Saleem,
I usually find CNBC is great for contrarian analysis :). I do listen to interviews with important members of our economy like the one with Fed governor Evans today.
Stocktrader
Hi Stocktrader,
YES...CNBC is an excellent contrary indicator.....
Yesterday they were all excited about market going higher & higher...Carter Worth & all ?
Saleem
S
have a great day
I am glad that your medical appointments will tell us about your health! Great news--get better quick
Smile
Look at MCD on a tare going to $100
EVEP is coming back up $73 coming
best of luck
Saleem
Did you sell all
I still have all my shares
sold AUY
have a lot of KGC
EVEP is still green and mean. I buy low and sell it high 4 round trips and it keep going like the every ready battery. I sell around a core holding
My TOT is poor
Best to all
Hi C,
Sold everything except KGC.
In no hurry to buy anything...
Saleem
Hey Saleem,
I sold everything on the Fed minutes.
Stocktrader
Saleem,
I cashed out everything except KGC for profits, 20% exposure. Thanks.
Michael
Hi Stocktrader & Michael,
Sorry..just saw your notes....
Good luck with your strategy...i was impressed with today's TAPE..Gold UP huge & problem in Europe...BUT market was close to breakeven...good sign !!!!
The BB gave a nudge...so UP we go !!!
Saleem
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