Indices closed near best level of the day.
S&P 500 closed @ 1263.02, which is above 50 & 200 DMA.
Nasdaq still below 50 DMA which is @ 2615.02, while Nasdaq closed @ 2613.74
Internals of the markets were :
UP volume led by 11.29 to 1 in NYSE & 5.76 to 1 in Nasdaq
Advancing stocks led by 3.73 to 1 in NYSE & 2.49 to 1 in Nasdaq
VIX closed down 3.66% @ 22.66
Oil closed UP @ $99.65
Gold closed Down @ $1540.90
Stocks which closed UP 1% or more included CNQ,RVBD,
AUY,COH,GG,SU,VMW,FFIV,SLW,VRM,MA,TSL,TLM,
MS,CIEN,FNSR,C,CRUS,ARUN,WYNN....
CMF is negative gain in all indices, S&P 500 is most negative @ 0.064.
Yesterday's TAPE was a major let down to my bullish thesis. Today's recovery in stock prices was muted @ best. Do not know what to make of last 48 hrs, but it has raised a big question mark in my mind as to the real health of current TAPE.
SO, Friday is the last day of the month, quarter & year, how it will end, i am not sure.
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
I think we are seeing pressure on a lot of high growth stocks at year-end due to tax-loss selling and not wanting to show in mutual fund portfolios given their lackluster performance this year. I'm reserving judgement until some days into the new year to get a better feel for them absent of the technically-related selling.
Stocktrader
HELLO to all
let me say to you all
Happy New Year
I have noticed that volume is way off
ans selected stocks are the hight flyers
Like MCD!
Just a thought...
Be happy, as this market is way confusing to me
C
Hi Stocktrader,
TAPE has become "lethargic again" to my utmost surprise.
European crisis is stabilized, but TAPE is being exploited for non-european issues?
That is a sign of weakening support for market ?
Saleem
Saleem
The market is awful to day
C
Hi C,
Market is coming back.
Sold CNQ & LULU...reducing my exposure & booking any profit.
Saleem
Saleem
Happy New Year,I didn't trade the market this past week due to low volume. It seems like during this time of the year, stock behave like that all the time, but when Monday come, i expected we will gap up big time due to pension getting their money. Personally I will stay on the ship till I was proving wrong.
Hi Up,
I have sold 75% RIMM also..trying to book profit everywhere....
I have reduced my exposure big time....reduced exposure by 43% since yesterday.
Still have enough exposure to further evaluate stocks.....
Do not like TAPE for 3 days now.
Saleem
SALEEM
I finally sold the BIDU
Holding the APKT for now
Volume is still awful
GNK is finally GREEN---yes
Good things come to all who wait
C
Hi C,
We all hope for the best, only if market cooperates.
I am in a "neutral mode"......
Saleem
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