Indices closed UP again.....
S&P 500 went to 1220.25 before profit taking set in.
S&P 500 closed @ 1207.25
RSI 57.17
Internals were as follows :
UP volume led by 5.31 to 1 in NYSE & 2.75 to 1 in Nasdaq
Advancing stocks led by 4.09 to 1 in NYSE & 2.95 to 1 in Nasdaq
VIX closed @ 31.26, Down 4.87%
As to the market trend, many traders are very nervous @ 1220 level.
Based on sentiment, momentum & seasonally strong Q4, it is a safe bet that we may go through 1230 resistance this time.....
Stocks which were UP around 2% or more included CNQ,CSIQ,FCX,
TCK,FAS,SLW,POT,NFLX,RVBD,SU,MPEL,JKS,C,BAC.......
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
11 comments:
Things are looking really good, I love looking at this blog, it gives me a good outlook on the market. I am pretty happy with PAL right now, I got in at 2.03 and it is up to 2.74 already:) Do you have any suggestions on what to buy tomorrow? I am looking at NYSE:MT what do you think?
Hi Bert,
Thanks for your feedback.
I trey to interpret market trend based on technical & fundamental reasons.
I think Solar stocks are still dirt cheap....SOL,YGE,JKS,TSL & CSIQ looks compelling.
Good luck with PAL & new selection.
Saleem
I would agree with you there, I picked up some CSIQ as well a few days ago. They still haven't gone anywhere but I am sure they will.
Today looks like it might start out low.
Hey Saleem,
Sold out of my JKS at 8.33--got a nice run and I'll see what happens from here.
Stocktrader
Hi Stocktrader,
Excellent quick profit in JKS...
Saleem
Saleem
Looks lie3k FCX got smacked hard
Oh well..
Looking at FORD here. Med term hold for me If I buy
GOOD luck to all
Hi C,
FCX is down because of lower Gold also.....
Good luck with your next buy !!!
Saleem
Saleem,
I think it is technology turnaround time now. SNDK, SINA, GOOG, AAPL... They are all up while commodities are all down. Thanks.
Michael
Hi Michael,
China news is taking a toll in commodities....
GOOG reports tonight..should be a beat.
FCX,TCK,CNQ will be bigger winner in long term.......as recovery is taking hold.
Short term is hard to predict.
Saleem
SALEEM
APPLE is on a ROLL
Should I sell the call? here are the stats:
AAPL Option | Exchange: AAPL 355.00 Nov 11 Cash value $5,625.00,
SINA is on FIRE!! smoking!
Hi C,
Hold off in selling AAPL call...i think it goes to $415 easy.....
Saleem
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