Despite Greece & US economy downgrade by Fed, stocks managed to close near high of the day.
Greece continues to be in the centre of this debt issue.
G20 is meeting in France on Thursday & Friday, important
decisions needs to be taken to stabilize world markets....
Internals of the market were as follows :
UP volume led by 8.70 to 1 in NYSE & 2.92 to 1 in Nasdaq
Advancing stocks led by 4.98 to 1 in NYSE & 3.55 to 1 in Nasdaq
Oil Closed @ $92.51
Gold Closed @ $1729.60
VIX closed Down 5.84% @ 32.74
Stocks which were UP 2% or more included LVS,HCP,POT,RVBD,TLM,
MS,JKS,BRCD,CNQ,NFLX,GS,CLF,
TCK,FCX,FNSR,JDSU,GG,AUY,
FFIV,QCOM,SLW,MA,V,AUY,SU,
MPEL,AGU,TSL,C,BAC,CRUS,ARUN......
AH ER were greeted as follows :
QCOM UP 9.43%
WFM Down 5.40%
AH Futures Down
AH Asian Markets Down
AH Oil, Gold Down
BLOG does NOT give buy or sell.
Saleem
15 comments:
Hey Saleem,
The market is treacherous! I went to sleep with the S&P futures down 15 and now they are up 15. The headlines from Greece and ECB all look surprisingly positive today.
If the market rallies today and tomorrow, my selling yesterday will seem foolish. It would mark Wednesday as a "resumption of the trend" and not a "countertrend" day. At least I didn't throw out the whole portfolio as I have done in the past and can participate with some high-beta today.
Trying to find entry points now becomes more difficult...
Stocktrader
Hey Saleem,
Also, AUY might be the first position I restart--ECB cutting rates should get gold really ramping?
Stocktrader
hello to all
from the hot sunny over fed Caribbean...:)
I own AUY from the last run up--lets go AUY!!!
gold is a good play
good luck all
Hi Stocktrader,
market is so unpredictable that no one knows what it will do....so you are not alone....
I may add one more stock today....
Good luck with your add.
Saleem
Good Morning All,
Before we go back to high five, just keep in mind that the market is still overbought, 2 days of selling didn't corrected our overbought condition very much. Just wanted to point that out. Happy trading
Hey Saleem & c,
I put an order for AUY at open at 15.62 but the trades down there didn't hit any of my order since it barely touched and then moved up--had to chase all the way up to 15.80! I hate when that happens.
Stocktrader
Hi stocktrader
Look like ERTS finally bottom, I am still waiting for that breakout on weekly.
Hi Stocktrader,
I had AUY @ $15.67 which got filled....
Saleem
Saleem,
Greek premier abandons referendum plan. Now we are back to our plan to hold stock till the end of the year.
Hi Up,
YES...market is looking good !!!
Saleem
Hey guys,
I remain cautious but I can't put my finger on why. I don't know if I sense something wrong, or if I am just feeling the uncertainty that everyone feels. Regardless, in my opinion, today is pivotal to show the true direction of the market for the forseeable future. I would love to see nicely green--it's a lot easier to make money in bull markets.
Staying with 40% exposure (including the AUY defensive position) for now, but being underweight weighs on me as a believer in great US companies.
Stocktrader
Hi Stocktrader,
Oil price direction is the key to stock market.
I think you should rethink because we may be heading towards 1292.66 in S&P 500.....
G20 meeting should be the-catalyst ends Friday....
Saleem
Hey Up,
I held ERTS after earnings because the growth story didn't change for me. The earnings bar got reset a little lower but the stock has moved nicely in the last couple days. I am certainly waiting for that weekly break--I hope the ZNGA buzz rubs off on ERTS in the upcoming weeks.
Stocktrader
HI Stocktrader
IF ZNGA worth 15 to 20 billion, I think ERTS will worth more than today's price
Hey Up,
Exactly what I think :).
Stocktrader
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