Market surprised everybody by futures tanking last night by 190 Dow points, only to close UP by 208 Dow points.
Greece political turmoil & surprise ECB interest rate cut, gave all the reason for a feel good rally.
G20 will be done by closing time Friday, so any positive news will add fuel to the bullish fire.
NO it wont be about Jobs report @ 830 AM, even if we do not come close to 95,000 overall job creation, it will be all about European news / rumour.
S&P 500 closed @ 1261.15, ready to take out 1292.66.....
RSI @ 57.63
Internals of the market were as follows :
UP volume led by 5.61 to 1 in NYSE & 4.64 to 1 in Nasdaq
Advancing stocks led by 3.51 to 1 in NYSE & 2.93 to 1 in Nasdaq
VIX closed Down 6.84% @ 30.50...goes down @ much slower pace, BUT jumps double on down days.
Stocks which were UP 2% or more included JCP,POT,RVBD,TLM,AUY,
CNQ,NFLX,OTEX,TCK,PCLN,
SNDK,CMG,GG,SU,NTES,VMW,
FFIV,QCOM,SLW,GOOG,CRM,MA,M,
BIDU,CIEN,C,BAC,ARUN,CRUS......
AH ER SBUX UP 3.02%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hey Saleem,
I'll be adding on this morning dip. Looking at things like AGU/CF/MET/RVBD/VMW/more AAPL to fill the remaining two spots in my portfolio. I did add SWC late yesterday--trying to pick up companies that reported good quarters.
Stocktrader
GOOD MORNING
from paradise
I am at half moon Cay--Nice!!!!!!!!!!!
The cruise ship is so wonderful
Hey, I love the close! APPLE i going to rock
Was thinking about getting some deep in the money apple calls
any comments ??
Thanks
The very best to all
Hi Stocktrader,
You have a very good list to work from.
Good luck with your portfolio.
Saleem
Hi C,
AAPL is NOT moving fast these days, so will not agree with Option strategy.
Saleem
Hi Stocktrader,
Today is weekly option expiration day, so MM is going to pin stock to certain price. Just a head up
Stocktrader
I have been trading APPL all this time, but just stop last week. One of my indicator keep flash warning, telling me APPl is not a good buy anymore
Hey Saleem/Up,
I went with AGU and MET as they both had good morning dips.
Hey c,
I think AAPL calls might work well here. The Nov 360s at 42.50 look attractive to me from a leverage/reward analysis.
Stocktrader
Hey Up,
I think AAPL's chart looks one of the best around right now for breakout. I'm surprised your indicator is negative.
Stocktrader
Hey Saleem,
My biggest position just keeps getting bigger, WWWW. I guess that's how it's supposed to happen with "working" stocks though.
The jobs data (and revisions) show a real underlying strength in the economy in my opinion. I don't suspect we'll be able to keep it constrained much longer.
Stocktrader
Hi Stocktrader,
Aug & Sep revision in positive job growth was the-biggest i have seen in my analysis.....
We are going to make new highs by christmas in S&P 500....
WWWW has moved UP huge for you ..great pick $$$$$$
Saleem
Saleem,
Most of stocks want to go higher with good numbers. However, the markets kept them pinned down. Do you think we will have a half decent close?
Michael
Hi Michael,
This is a stock pickers market,
Weekly Option Expiry creates negative bias 90% of the time..
We have already recovered 70+ points in Dow.....looks pretty good for close....
Saleem
Hello UP
Back form the spa....
I looked at the sharpcharts on APPLE
I found it to be set for a strong surge RSI under 60
target is at $500 what are you seeing??? That I can not see here in the hot Caribbean..... :)
Sold my AUY for a $$$$$ nice...
I like CSX---any thoughts??? My CHK is poor action today. Again Sold EVEP it is on the move back up again to $76.
best to all enjoy your weekends--please
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