Every morning when we get up, futures are generally down on repeat of European issues.Today was no different, Dow futures was down 114 when i checked, but we closed green in
all indices.
How well we close defines the strength of any market.
S&P 500 closed @ 1257.81, 200 DMA is 1271.85 which is yet to be conquered.
RSI in S&P 500 closed @ 54.65, it is in "technically healthy range"
Internals were as follows :
UP volume led by 1.87 to 1 in NYSE & 2.73 to 1 in Nasdaq.
Advancing stocks led by 1.70 to 1 in NYSE & 1.98 to 1 in Nasdaq
VIX closed UP .29% @ 31.22, strength of VIX is an ongoing concern for me, as if someone knows something negative & is betting accordingly?
Oil closed @ $99.37, this also does not make any sense, given weakness in many economy?.
Gold closed @ $1782.20, not reacting as strongly given the confusion ?
AH ER DELL down .51%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
16 comments:
GOOD morning to you Saleem
J Cramer was touting APPLE last night
Why did I listen to him??? Now Cramer says buy and his trust owns apple......
Was he in cohorts with CNBC??
Thank you for your blog it offers me a safe haven for my thoughts
I bought GNK last night...
C
Hi C,
Thanks for your appreciative note.
Dont focus too much on what Jimmy the Cramer is uttering...he is agenda driven working with his HF buddies.
GNK is a good one !!!
Saleem
Hey Saleem & c,
AAPL looks great now--$$ time for your call c! :)
ULTA PT to $85 today--hopefully I get a little run on what's been a pretty dead stock in my portfolio.
Baltic Dry Index up nicely today--today's the day for GNK?
I'm looking to maybe sell BAC but I like the chances for a good jobless claims number again tomorrow, so it stays one more day at least...
Stocktrader
Stocktrader
thanks for your positive note on APPLE.. Now CNBC is positive on APPLE and touting two new board members
Yes my call is getting better now $31 looking towards $39 and then GREEN baby!
GNK is dropping right now
Nothing is green for me
Fast money was negative on banks but BAC is oh so beaten down,,,,,,,, good luck
Saleem,
I just sold APKT @40.3 for a $3/share profit. You were right about APKT: For the next few dollars it reached there before RVBD did.
I should follow your suit in selling MS. Now I it is too late. I will hold it till I get my money back.
Hope for a green recover!
Michael
Hey c,
All I need is an AAPL-like flip-flop on the banks on CNBC and then my BAC will be good too? :) Obviously, I don't invest based on CNBC sentiment, and sometimes tend to go counter their opinion because that is often more profitable. I own BAC mostly for a stabilization/rebound in housing and loan growth, but every day it seems like BAC's potential earnings power decreases with either government regulation or asset sales/capital raises. Also, as time ticks towards the end of the year, I am starting to wonder whether funds can own banks at year-end given their horrible showing and negative outlook with the public?
Stocktrader
Hi Michael,
Thanks for your note re APKT....
It is never too late to sell a stock which is going down...taking loss quickly is the wisest action you can take in rebalancing your portfolio....i do it all the time.
Saleem
Hi Machael
I think MS is a patient play, everybody in the whole world know debt in Italy is killing this stock, but can we say countertrend coming soon?
Hi Stocktrader,
Financial stocks charts are getting weaker again..does not look good for year end....thus my exit from MS yesterday....
There are too many "bright ideas" to waste $ on duds.......
Saleem
Hi Up,
Because of renewed bond mess in Europe.....financials may be taking another hit in their earnings?
TAPE is certainly not encouraging.
Saleem
Saleem
Have you wondering why cmf is still deep in green on ms and other financial? Even with this recent decline.
Saleem
I have to state that I don't like financial stocks at all, they are underperform the market since the housing bubble
Hi Up,
CMF is one indicator out of many...even CMF on MS currently is hitting low point in a month.
TAPE is the final word on all technical & fundamental.....
Saleem
Hey all
Market is turing around
NICE....
My IP is strong today
Oil seems strong also
GOOD luck to all--APPLE rules
Saleem,
I don't expect to see Green today. It is so nice. Hope we will close in Green.
Michael
Up,
Thanks for your note. I will keep MS at this time and wait for the up day to unload it.
Michael
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