Dow & S&P 500 went to higher highs & closed @ the highest level of this rally, a very strong technical indicator.
S&P 500 low today 1244.80, high 1267.06 & closed @ 1261.01, a nice bullish trajectory.
S&P 200 DMA is 1264.00, which it should take out @ opening bell, this will be another confirmation of this bull run.
RSI @ 58.68
Internals were mixed.
Oil closed @ $100.49
Gold closed @ $1744.80
VIX closed @ 28.67
After saying sell sell sell every other day, Jimmy the Cramer finally, could not take it anymore. Today after S&P 500 crossed 1267.06, he is saying next 16 days left to make money......as they say, it is better to be late than never.....
On the other hand, IBD is still INSISTING that "market in correction".....I wonder what "technical indicators" are they following ?
John Bollinger, creator of "bollinger band", a very good technical tool, saying that we are all set for a very powerful rally......
I don't think, i should say anything about market direction ?
ECB is expected to cut interest rate, by the time we are ready for trading.
Here is my $ weighting as of tonight :
LULU 17.85%
RIMM 15.48%
PCLN 13.75%
BIDU 13.38%
M 11.29%
RVBD 10.80%
SNDK 9.10%
LVS 8.35%
Stocks which closed UP 1% or more included PCLN,
CMG,AMZN,AGU,GS,V,JKS,MS,CIEN.....
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
BLOG does NOT give buy or sell.
Saleem
GOOD morning to you Saleem
ReplyDeleteLooking GOOD with PCLN!!!!!!!!!!!!!!!
APPLE is green too.
Now I want copper to be up to
best to all
Hi C,
ReplyDeleteLooking GOOD so far.
Saleem
Saleem
ReplyDeleteI hated when Jim Cramer say buy, the last time he say oil is a buy, the next day it is a reverse
Hi Up,
ReplyDeleteCramer & his Hedge Fund buddies probably took a huge hit with their bearish strategy...the must have taken their lump & have covered their losses...???
Saleem
Saleem
ReplyDeleteThe point is I just don't want him to go on the direction I am heading. After a few days of oil effect, i finally buy OIH at 121.34
C
ReplyDeleteI am expecting AAPL to run hard to their earning day. The question is are the running a little early without me?
Hi Up,
ReplyDeleteMy point is, that jimmy the Cramer has lost his "credibility" & is a nobody in terms of impact..a very smallish fry.....so what he has been saying "does not matter" anymore.
Saleem
Hey c,
ReplyDeleteGNK acting fairly well this morning--dry rates up nicely today. Another dry bulker to consider is NM--they got initiated with a $7 PT last week at JP Morgan which is the first positive analyst action on a shipper I can remember in a while.
Stocktrader
SALEEM
ReplyDeleteI agree that J the Cramer is a shrill
But he can scare me to death with his predictions!!!
I like Copper and then he talks about SCCO and it is down today!!!
UP
APPLE is so surprising to me it is up $5.
I want my $355 December call to make me some money
If not it could be rolled over to I guess Feb, 20 2012,
Dunno what to do I sure made a mistake so far. Expires soon.
Good luck on your decision--Fast Money stated a target of $450 and Karen F. loves the apple story-most people do. So far today is red with my MCD in breakout mode--we need a break today--smile
Hi C,
ReplyDeleteJimmy the cramer is another person trying to earn his salary through a show..no different than any other person.
It is all about doing your OWN homework..nobody can do it for you...
Saleem
Hey Saleem,
ReplyDeleteSold my AGU after it couldn't hold yesterday's low--apparently farmers have no money/confidence to operate with their MF Global money missing? I'm not sure if this is overreaction by the AG stocks, but I feel it prudent to play it safe until we get a clearer picture. A bottom in a crisis of confidence is hard to predict.
Stocktrader
Hi Stocktrader,
ReplyDeleteIt is good to follow technicals in making sell decision.
AG is in a funk for a long time.
Saleem