Monday, December 5, 2011

Indices closed UP .65% to 1.10%......NICE !!!!

All indices made another higher highs.

S&P 500 went to 1266.73, closing @ 1257.08

RSI closing @ 57.89, during the day it came close to 60.

Internals of the market were as follows :

UP volume led by 3.62 to 1 in NYSE & 3.55 to 1 in Nasdaq

Advancing stocks led by 3.46 to 1 in NYSE & 2.30 to 1 in Nasdaq

New 52 wk highs were in the lead, 112 in NYSE & 59 in Nasdaq

VIX closed UP .51% @ 27.66

Oil closed @ $100.99

Gold closed @ $1734.50

Stocks which closed UP 1% or more included M,RIMM,RVBD,
CNQ,CLF,COH,SNDK,MGA,CMG,TCK,GS,FCX,AGU,SU,
VMW,FFIV,CRM,JCP,MS,C,ARUN......

Reason for my major sell was to lock profit.

S&P 500 has gone UP from 1158.66 to 1266.73 in a straight line, a gain of 108.07 points or 9.33% in six trading days..this sharp move UP needs rest, as its overbought.

CMF is RED in all indices......

Many of the proposals about EU meeting is well known to markets & has been the catalyst for this huge move.

Once we have gone through another base building, then this rally should resume. Any rally should be used to lighten up to lock gains or to prevent further losses.

Ironically, Jimmy the Cramer is saying sell sell sell again after his last week sell sell sell...so he is directing traders to sell who were out of this rally as per his previous sell sell sell....no wonder he calls his show "entertainment"

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

BLOG does NOT give buy or sell.

Saleem

23 comments:

c said...

Good Morning Saleem

Frontline FRO is splitting in 1/2
Yeks --says due to low tanker rates--no kidding

Futures look green
I bought Amzn at $197 go amazon

C

Stocks100 said...

Hi C,

Good luck with AMZN.

Saleem

stocktrader_1996 said...

Hey c,

My timing was unbelievably horrible on the FRO sell. I literally almost ran out of time selling it on Friday--I think it executed with about 5 seconds left in the trading day! I wish I'd found reason to just wait.

There is a small amount of solace in knowing my thesis for holding had merit, but I've moved on...

I like flat opening days because the truly good stocks show themselves :).

Stocktrader

stocktrader_1996 said...

Hey Saleem,

I took my profits this morning on GLNG--the candlesticks show almost no accumulation despite the nice run from my $38.81 entry a couple weeks back. I've found this to be dangerous in the past.

Now I have a little dry powder :)

Stocktrader

c said...

Stocktrader

Dry powder is GOOD

My position in MCD is very good
break out mode --- JMHO ----say happy meals...

Aslo BGS is minting me $$

Good luck in positioning your buys
C

Stocks100 said...

Hi Stocktrader,

Good move of booking profit in GLNG.

Saleem

stocktrader_1996 said...

Hey Saleem,

My dry powder was quickly deployed! Bought COH at $63.70--I really like the price action recently and today also.

Stocktrader

Stocks100 said...

Hi Stocktrader,

COH is definitely among "stronger stocks"

Good luck with COH.

Saleem

Up said...

Saleem

If market acting like the past 2 trading sessions, market will be down more before we close. Thought?

c said...

Stocktrader

COH is good....RSI is good
with a price target of $72..

C

c said...

SALEEM

Any thoughts as to why BIDU and AMZN are behaving badly??
C

Stocks100 said...

Hi Up,

Market is behaving "better" than what i thought...so far so good.

Saleem

Stocks100 said...

Hi C,

Nasdaq is "weak" today...that is why most large caps are down....

Saleem

Michael said...

Saleem,

I trust your day is going well thus far! You have been a truly warrior in this market turmoil since you keep fighting and wining. Your timing was right with selling more than half of your portfolio.

CLF is looking good lately.

PCLN seems weak. It might break to the down side?

BIDU is not holding well.

Michael

Stocks100 said...

Hi Michael,

Thanks for your compliment !!!

I try very hard to understand TAPE which is very difficult.

PCLN has not behaved well since earnings...BIDU is so so.....

That is the reason, as to why i am not adding in PCLN & BIDU.....

Easy money has been made, now it will be TOUGH.....

Saleem

Up said...

Hi C

I keep hearing China grow is slowing down, maybe that is the reason it doesn't behave well. But in the other hand, U>S is getting better, so I think it is better to buy our stock instead of Chinese

c said...

Up and all

BIDU
is an aggressive stock
It is very easy to get it on the wrong side and feel the down side pain.
As for China BIDU is best of breed for China stocks.
I would think that China will stimulate consumption and keep pumping it economy......We sold our tiny house there at a huge profit as my wife said time to sell... Yes, China had a real estate bubble.... China is a power house but it is impossible to time it correctly..

I agree with Saleem, easy money has been made in this current market?

Hoping for some Europe news that is positive to propel US higher.....

c said...

Stocktrader

Finally

GNK is up $7.80

Up said...

C

AMZN is a great buy here, i am going to get some

c said...

UP

Amazon is on sale
wow
my price was $$$197

what a share price drop
C

Up said...

Saleem

AG is rally, is that mean we are at the end of this massive rally since dogs always get in late before the storm

stocktrader_1996 said...

Hey c,

GNK is doing nicely today--it is a very hard stock to figure out, but I'm comfortable with my half position currently (although it moves twice as fast as other stocks anyways!).

Stocktrader

Stocks100 said...

Hi Up,

NO..market should move higher by year end....it needs to digest huge gains....

AG stocks have been among the-weakest group..nice to see life in it.

Saleem