Monday, October 3, 2011

S&P 500 low so far 1104.61...above previous low of 1101.54......NICE !!!!

Indices are following world markets lower & testing support...so far so good.

S&P 500 low today is 1104.64..RSI @ 37.46

Technically we are still showing relative strength by not piercing Aug 2011 low of 1101.54 & we are well above CNBC gurus number of 1010...

Internals are as follows :

Down volume led by 5.13 to 1 in NYSE & 6.85 to 1 in Nasdaq

Declining stocks led by 7.79 to 1 in NYSE & 9.49 to 1 in Nasdaq

New 52 wk lows were 908 in NYSE & 423 in Nasdaq

New lows in NYSE is a sign of "major capitulation"

VIX UP 4.63% @ 44.95

Oil Down $1.85

Gold UP $37.40

Canadian $ Down 11 tick @ 95.19

Portfolio is LULU & RIMM

Most stocks are down

@ 2.23 following are green :

RIMM,BIDU,GG,PCLN,NFLX,SLW...

BLOG does NOT give buy or sell.

Saleem
at

9 comments:

  1. cOctober 3, 2011 at 12:06 PM

    S

    Looks like it is time to get some APPLE here

    wow it is below $380 it previous support level


    It is a buy IMHO

    regards to all

    ReplyDelete
  2. Stocks100October 3, 2011 at 12:09 PM

    Hi C,

    AAPL is not behaving well into the iPhone5 release....technically does not look good..based on AAPL history?

    Saleem

    ReplyDelete
  3. UpOctober 3, 2011 at 12:17 PM

    Hi C,

    I agree with you on Apple, i got some at 174.4 and hope for the best. IMO, this is the safest stock to own if you are long

    ReplyDelete
  4. stocktrader_1996October 3, 2011 at 12:18 PM

    Hey Saleem,

    I started some SQQQ/FAZ on the pop this morning and they are looking great today. I'll likely close those out tomorrow at close and will probably flip to some long positions. I think Wed/Thurs/Fri morning might look good. As long as my theses are working, I'll be a little more brave...

    Stocktrader

    ReplyDelete
  5. cOctober 3, 2011 at 12:18 PM

    S

    I am a apple believer

    It has got to close green or the release tomorrow news release and conference call is a bust??

    It can not be
    We have had 7 quarters of huge pops

    Bless all
    C

    ReplyDelete
  6. Stocks100October 3, 2011 at 12:22 PM

    Hi Stocktrader,

    I am glad your thesis is working out.....

    Looking forward to W to F market.

    Saleem

    ReplyDelete
  7. cOctober 3, 2011 at 12:32 PM

    Thank up for your support

    APPLE ahs been my biggest gainer for me.

    I sold all of my $under $110 shares

    I got more at $360 and I bought 1 option call at $355.

    Lets hope that the conference call is a sure fire will

    the new phone has lots of bess and whiles and Spring paid some 20 billion for the privilege of carrying the new phone..

    You all must listen to the boss on talk radio discuss the attributes of the apple products: R. Limbaugh is amazing in his discussion for APPLE.
    I can not believe we are so down today,

    We gotta pop in the AM!???

    Best to all

    ReplyDelete
  8. stocktrader_1996October 3, 2011 at 1:58 PM

    Hey Saleem,

    I forgot about the ECB meeting on Thursday...I will have to think about those implications, so for now I revise my thesis for only a bullish Wednesday (maybe *very* bullish on a good ADP number coupled with oversold conditions). My initial thoughts are that the ECB meeting will be a disappointment :(.

    Stocktrader

    ReplyDelete
  9. Stocks100October 3, 2011 at 1:59 PM

    Hi Stocktrader,

    Thanks for updating your thoughts. i am sure it is helpful to everyone including me.

    Saleem

    ReplyDelete