Indices were mixed, with Dow & S&P 500 closing green, but Nasdaq continued its weakness by closing lower.
S&P 500 went to 1266.03 @ high of the day, closed @ 1258.47
RSI closed @ 58.16
Internals were mixed due to Nasdaq weakness.
VIX closed UP .72%
Oil closed UP @ $101.28
Gold closed Down @ $1731.88
In my portfolio :
Bought SNDK @ $50.54
Bought LVS @ $45.88
Bought LULU @ $46.16
Portfolio is BIDU,LVS,LULU,M,PCLN,RIMM,RVBD,SNDK.....
Here is my $ weighting :
RIMM 16.21%
PCLN 14.40%
BIDU 14.01%
LULU 13.96%
M 11.83%
RVBD 11.31%
SNDK 9.58%
LVS 8.70%
Total exposure 214%......
About this market TAPE, following needs to be evaluated :
-Dow has been UP FIVE days in a row.
-Dow is STAYING above 50 DMA & 200 DMA
-Nasdaq & S&P 500 is ready to jump ABOVE both important moving averages.
-Dow RSI is 59.70 & pointing upwards
-Today was a perfect day for a "major pullback", BUT it did NOT happen ?
- Internals were positive in NYSE
-ONLY negative about this TAPE is CMF is staying RED in all indices?
As you can see that TAPE is certainly NOT showing any weakness YET, thus my exposure is near HIGHEST level ......
Green stocks were dominated by AG, Gold & Silver for the most part.
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
11 comments:
Good Morning to you Saleem
Looking like a green day ahead of us
thanks
Hi C,
YES..GREEN is GOOD !!!!
Saleem
Do you think this is a good time to buy? just a quick dip or do you think we are going to be going way down again?
Hi Bert,
Market sentiment is much better now.
Good time to buy your favourite stocks.
Saleem
great, I got some RIMM and some APKT
Hey c,
I got rid of the GNK today. It seems like it will take a lot to get past the $8-$8.20 range which has both the 50- and 200-DMAs in a tanker sector where fundamentals still remain depressed. Since we can watch day rates daily, I figure I'll have time to jump back in if those rates show a better trend.
(Bought some more SWC with the proceeds--palladium is really on fire recently and the leverage these companies have is incredible.)
Stocktrader
Stocktrader
I have not like GNK progress at all
So I will take my loss also..
Thanks for sharing
C
Saleem
What bother me the most about this rally is CMF is almost red across the broad. With low volume up days, could we see a sell the news effect on Friday or Thursday since trader wanted to get in front of the train before it move
Hi C
I sold my AMZN holding today, I am expected a big move today but seems like market is not cooperate
Hi Up,
CMF is one of the many indicators to watch...currently sentiment is too strong & seasonality is extremely bullish...that outweighs CMF......
Volume has been around average for a long time..i will not worry about that.
Saleem
UP
AMAZON is HOT right now
DUNNO why it popped But it is headed back to my buy price of $197--makes me happy!!!
Looks like the shorts aere killing my apple..
Lets get a shout out for BIDU and APPLE
Best of luck to all
Stocktrader===I still have my sell order in on GNK at $8
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