Wednesday, November 30, 2011

Indices closed UP 4.17% to 4.33% in high volume.....NICE !!!!

Indices went into record breaking UP move, best since March 09.

S&P 500 high was 1247.11, closing @ 1246.96

All indices are above 50 DMA, but Dow is above both 50 DMA & 200 DMA, a very strong technical picture.

Our famous pundit of CNBC is still telling sell,sell,sell & talking in circles & we still do not have Gurus blessing for this rally ?

Internals were as follows :

UP volume led by 24.76 to 1 in NYSE & 11.85 to 1 in Nasdaq

Advancing stocks led by 6.81 to 1 in NYSE & 4.71 to 1 in Nasdaq

After a long time, new 52 wk highs were in the lead, 91 in NYSE & 58 in Nasdaq

VIX tumbled 9.27% @ 27.80

Oil closed @ $100.36

Gold closed @ $1745.50

Stocks do not close UP 4%+, unless it is a significant change in Psychology. Best part of this rally continues to be "disbelief & ongoing selling"......

Month end ended with a bang, & new month & last Q is starting, which may bring more short covering, until Jimmy the Cramer throws in the towel, after taking his lump......

Stocks which were UP 4% or more included BIDU,CNQ,CLF,LVS,LULU,M,
PCLN,RVBD,SNDK,AUY,
MGA,OTEX,GS,TCK,MOS,WYNN,FCX,
GG,MPEL,VMW,FFIV,SLW,CRM,MA,V,
TSL,JKS,MS,JCP,TLM,JDSU,CIEN,FNSR,
ARUN,BAC,C,CSCO,GE.....

Chinese PMI data is old news, thus expect no reaction in markets.

AH ER FNSR Down 2.39%

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold UP

BLOG does NOT give buy or sell.

Saleem

2 comments:

Bert said...

Today was a great day :)

What are your plans for lulu? I own it too so I am just wondering if you are going to put a stop in just in case it doesn't report good earnings?

Also what do you think of AKPT? it hasn't gone up on this rally, is it just coming up late or is it having problems, I am thinking of buying it tomorrow, what do you think? RVBD is coming up slower than some of my other stocks as well, so I am thinking that the tech stocks haven't taken off yet, what do you think?

Stocks100 said...

Hi Bert,

Looks like my plan for LULU could be to add..but it is based on conference call which starts in 10 mts.

RVBD is more than OK....

APKT is acting strange, so i will stay out.

Good luck with your strategy.

Saleem