Indices were taken to lowest level by HFT, despite above consensus job growth of 117,000.
Many big players were short this market & were expecting a lousy job report. When jobs report came in better, they shorted this market with all their might to make an unbelievable $.
As many big players are still short, we have to wait till close to know the real game.
IF we close above 1201 in S&P 500, then we are technically OK.
Gold Down $6.70
Oil UP 31 cents
Canadian $ UP 28 tick @ 102.29
VIX went to new high @ 39.25, currently @ 32.56 UP 2.84%
Internals are mixed some positive some negative.
New 52 wk lows were 876 in NYSE & 405 in Nasdaq...worst reading in this selling, although i have seen 1000 in past selling.
In my portfolio :
Bought AMZN @ $195.90
Portfolio is AMZN,FFIV,LVS,LULU,RVBD
Allocation is 75%
Most stocks are down
@ 1.53 following are green :
AMZN,CAT,APKT,NTES,GG,RIMM,VMW,CMG,
PCLN,GOOG,CRM,MA,AMCC,FNSR,AAPL,SOHU,
CCJ,AEM,NDAQ,GS,VAR,FWLT.
Next post Sunday by 2 PM
BLOG does NOT give buy or sell.
PS...was away from computer, doing some chore.Nice to see AMZN order was filled......
Saleem
9 comments:
Saleem,
S&P closed below 1201 but most of stocks behaved a lot better. I think it is basing period and strong stocks will go higher from here. Your entry in AMZN is excellent. I was on the road at the time it went crazy, so I missed the chance. Anyway, we may see it again? Thanks.
Michael
Hi Michael,
It is a constructive close...because Dow closed green...
Dow should be able to pull S&P 500 UP....
Nasdaq was weak @ close.
Good luck next week.
Saleem
the USA down grade my be a market breaker
I do NOT feel confident about what will happen Monday
best to all
Hi C,
Monday will come & go..for sure...
We need to plan for Tuesday strategy !!!!!
Saleem
Hey Saleem,
Hypothetically, if the market dropped 10% and gold rose 10% in the next two months, would you rather want to hold the GLD or a miner/GDX?
Thanks for the input!
Stocktrader
Hi Stocktrader.
GLD is working...miners are big laggards.....
Miners have been a big waste of time for me..even though i made money with every trade....
Go with GLD & SLV $$$$$
Saleem
Happy weekend to all
J Cramer
has been screaming to buy gold-but to use GLD
I to have bought the miners--made $$ on each trade.
I bought AUY friday for $13.16 looking for a pop next week
I am not sure we will be a RED day as perhaps the market knew of the down grade and priced it in?
best to all
so sad I have been watching the sunday morning talk shows and the political bickering between parties just continues. until the market feels a conciliatory tone in washington this market is not one to be bought
Hi Charlie,
IF you can believe this...in my TV lineup..i do not have CNN CNBC for last 2+ year...Even though i have ABC,NBC,CBS...i only watch 630 PM news......
By doing this ..it helps me to have my OWN "unfilterated" opinion on just about everything.....
Plus it keeps me less ANGRY & my STRESS level is much lower.....
Saleem
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