S&P 500 went to 1211.65 as low of the day, next support is 1205.59.
IF we could hold 50 DMA, then it looks good, otherwise 1074.77.....
Internals are as follows :
Down volume leading by 12 to 1 in NYSE & 3.66 to 1 in Nasdaq
Declining stocks leading by 3.81 to 1 in NYSE & 2.13 to 1 in Nasdaq
VIX UP 5.88% @ 35.48...this may give some hope to bulls.....
Most stocks are breaking double or triple support today, which is not healthy @ all.
Oil Down $3.39
Gold Down $25.10
Canadian $ Down 25 tick @ 97.38
Reason for today's selling is "risk off"
In my portfolio :
Sold LVS
Bought FRO @ $5.89
Portfolio is BIDU,FRO,PCLN,RVBD......
Most stocks are down
@ 1.38 following are green :
FRO,MGA,NTES,BWLD,FNSR,CTRP....
As long we do not close @ lows of the day, then we may be OK.
BLOG does NOT give buy or sell.
Saleem
2 comments:
SALEEM
the close will be the tell !!!!!!!!! Here is for a green close
FRO is a good oily shipper but has fallen on very tough times.... You did get it at a low price, I just wish that they had NOT started selling there ships for money...
IMHO at the current price FOR could pop! BDI rates are up again
Baltic Dry Index (BDI) 1898 +14
Best to all
Hi C,
After watching FRO & GNK for about 1 month...i went for FRO based on TAPE.....
Thanks for your input.
Saleem
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