Monday, December 12, 2011

Indices closed down 1.31% to 1.49%, on risk off trade......

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
at

11 comments:

  1. cDecember 13, 2011 at 6:46 AM

    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

    ReplyDelete
  2. Stocks100December 13, 2011 at 7:31 AM

    Hi C,

    No idea why BIDU & AMZN are down this morning.

    Saleem

    ReplyDelete
  3. stocktrader_1996December 13, 2011 at 8:46 AM

    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

    ReplyDelete
  4. Stocks100December 13, 2011 at 8:49 AM

    Hi Stocktrader,

    Good analysis on OCZ.

    2.15 should create some excitement.

    Saleem

    ReplyDelete
  5. cDecember 13, 2011 at 10:05 AM

    SALEEM

    I am selling my AMZN--it is not working for me

    I will watch and wait for BIDU

    Thanks
    C

    ReplyDelete
  6. Stocks100December 13, 2011 at 10:14 AM

    Hi C,

    IF you have sold AMZN, then i will not comment.

    Saleem

    ReplyDelete
  7. AnonymousDecember 13, 2011 at 10:24 AM

    Good morning.

    Taking on a little leverage. Purchased TNA Options. APR45 calls. GLTA.

    Victor

    ReplyDelete
  8. Stocks100December 13, 2011 at 10:27 AM

    Hi Victor,

    Nice to hear from you.

    Good luck with your leveraged bet.

    Saleem

    ReplyDelete
  9. MichaelDecember 13, 2011 at 10:42 AM

    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

    ReplyDelete
  10. Stocks100December 13, 2011 at 10:57 AM

    Hi Michael,

    I have both, but i may eliminate M @ the end of the day after Fed....

    Saleem

    ReplyDelete
  11. cDecember 13, 2011 at 11:17 AM

    Saleem

    Fed is making no changes

    Wow
    I sold the Amazon

    Best to all

    ReplyDelete