Indices were under pressure from open, as both Fitch & Moody's ran a coordinated assault on European agreement, threatening future downgrades & saying that Europe is in trouble for entire 2012.
I have repeatedly said, that European leaders have shown real leadership & vision by agreeing to fiscal discipline. Ironically no such leadership or discipline currently exists in US deficit reduction ?
S&P 500 went to 1227.25 @ lows of the day, but fought its way back to close @ 1236.47.
Internals @ close were :
Down volume led by 11.18 ro 1 in NYSE & 4.94 to 1 in Nasdaq
Declining stocks led by 3.92 to 1 in NYSE & 2.60 to 1 in Nasdaq
Volume was below average
VIX closed down again by 2.69% @ 25.67, lowest level in a while.
Oil closed @ $97.77
Gold closed @ 1668.20
Tomorrow, it is all about Fed statement @ 2.15 PM, i expect a "change" in language. Fed should give a "kick start" to year end rally.
AH futures Mixed
AH Asian Markets Down
AH Oil UP
AH Gold Down
BLOG does NOT give buy or sell.
Saleem
11 comments:
Saleem
Good Morning Sir
Sold the Call to close for Apple --I got caught in my order before I knew it the call was closed. I lost 1K --- could have been worse.. smile
Apple was my darling, and as it is often said never fall in love with a stock.
Now why is BIDU and AMZN down??
PCLN is nice and Green--yeks
best to all
Hi C,
No idea why BIDU & AMZN are down this morning.
Saleem
Hey Saleem,
Sold my only sellable stock today (without penalty), LLEN, to get some OCZ. It seems like they could be a huge beneficiary of the hard drive shortage and short interest is massive in the name along with a constructive chart.
The market overall is really choppy but we seem to be shrugging off bad news more quickly which is a good sign :).
Stocktrader
Hi Stocktrader,
Good analysis on OCZ.
2.15 should create some excitement.
Saleem
SALEEM
I am selling my AMZN--it is not working for me
I will watch and wait for BIDU
Thanks
C
Hi C,
IF you have sold AMZN, then i will not comment.
Saleem
Good morning.
Taking on a little leverage. Purchased TNA Options. APR45 calls. GLTA.
Victor
Hi Victor,
Nice to hear from you.
Good luck with your leveraged bet.
Saleem
Saleem,
Retail sales number was bad, so the big sell-off on LULU and M. I am holding on LULU and M. However, they kept falling down. I may double down at the end of the week. Do you still hold these 2?
Michael
Hi Michael,
I have both, but i may eliminate M @ the end of the day after Fed....
Saleem
Saleem
Fed is making no changes
Wow
I sold the Amazon
Best to all
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