Indices closed UP after hesitation most of the day. How we close is more important than how we trade after open.
S&P 500 closed @ 1280.70, RSI 60.68
CMF rising in all indices, bullish sign..@ highest level since November.
Internals were positive with less than 2 to 1 ......
New 52 wk highs were in the lead, 107 in NYSE & 50 In Nasdaq
VIX closed @ 21.07 UP 2.13%, after many days of sharp decline. This indicator is telling us that more gains are on the way.
Oil Closed @ $101.31
Gold closed @ $1608.10
Stocks which were UP 1% or more included FIO,RIMM,RVBD,
OCZ,SU,CNQ,GG,AGU,VMW,FFIV,TSL,MS,JDSU,FNSR,
CIEN,SNDK,CRUS,BAC.....
AH news reaction :
AA +.80%
CRUS +8.07%
OCZ <3.33%>
JNPR <1.76%>
LIZ <12.89%>
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
Chinese Export shot UP 13.4%, ahead of consensus of 12.5%. Trade surplus shot UP to $16.52 billion vs expectation of $7.8 billion as imports cooled of to 11.8% vs expectation of 18%......
BLOG does NOT give buy or sell.
Saleem
18 comments:
SALEEM
My GE is cranking up today
APPLE is rocking again
Look out up she goes......
Banks are good
HCBK, JPM to the moon
CSX is the cheapest rail road get some
C
Hi C,
Out of 60,000 stocks in North America..most are UP today.....biggest jump is by LULU?
Enjoy the ride UP.
Saleem
Hey Saleem,
Sold the RVBD on the pop this morning to raise some cash. Hopefully I can buy CLF on a little dip?
Stocktrader
Hi Stocktrader,
I did the same..booked profit in M.
Saleem
Hey Saleem,
I stepped into CLF at 68.90--paid a high price today, but valuation is too cheap to ignore finally with China potentially joining the US in the growth parade...
Stocktrader
Hi Stocktrader,
Good luck with CLF.....
I bought CMG.....
Saleem
SALEEM
CMG is one v good stock
wow --yeepeee for ya
C
Hi C,
Thanks for your cheers for CMG!!!!
CMG so far ..i am @ negative..but see how it goes @ close.
Saleem
SALEEM
Did you see the action in THN--yahoo! I should have got some--not
my SCCO came back form down grade
but CSX and KFT make up for it...
Hi C,
THN...there is no symbol?
Hopefully we should have a strong close.
Saleem
Hey Saleem,
GLNG is a confusing stock. All the during slight trend up move of the last 2+ months it was undergoing distribution. I think we've finally broken out, but it concerned me for a while. It is an interesting case-study, and it isn't over, but I wonder how to translate this for the future because it definitely went against my technical intuition.
Stocktrader
Hi Stocktrader,
Based on chart GLNG is a perfect hold......
Justt keep an eye on RSI..currently @ 68.05.....
Saleem
Hey Saleem,
Haha--it is easy now :). I was merely pointing out the last 2+ months divergence in price and money flow and how that resolved to the upside strangely, and in the absence of news. I am trying to determine if that is indicative of a new type of market now, or if it is just a one-time against-the-normal situation.
Stocktrader
Hi Stocktrader,
Market is still unpredictable.
Many stocks do mark time & then make violent move UP in rapid mode.
GLNG CMF has improved big time.
Saleem
Hey Saleem,
As for OCZ, the conference call was highly positive, and the guidance they provided should prove to be conservative, with both increased margins and market share on the horizon due to first-mover advantage in many products. That said, there are still many competitive risks given the space in which they reside, but overall I think this price action is profit-taking after a good run. I'll be more concerned if we drop below the 50- and 200-DMAs again thereby negating the golden cross too. They also did get a $13 PT re-iteration today from Sterne Agee, and I like reports from non-big firms for true fundamental analysis.
Regardless, I will likely drop my overweight amount at some point. Despite the great momentum, this space can be commoditized eventually.
Stocktrader
Hi Stocktrader,
I sold FIO based on lethargic TAPE since its big runup....booking profit as they come.
I need to do more research in this sector.
Saleem
Hey Saleem,
The CC transcipt for OCZ should be an interesting read and talks about a lot of the new trends (and OCZ's positioning of course).
Stocktrader
SALEEM
My bad on the symbol
TNH It is now at $185.57, Terra Nitrogen
do not know why it dropped in price
I can not get a fill on SCCO FCX and SCCO are hot again...
So Sorry
Have a good em
C
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