Indices closed UP .56% to .97%.....NICE !!!!

Indices were on fairly steady footing today thanks to China & optimism about upcoming earnings.

Europe was completely off radar.

S&P 500 closed @ 1292.08, high of the day was 1296.46. October 2011 high was 1292.66.

RSI @ 63.71

Internals of the markets were :

UP volume led by 3.92 to 1 in NYSE & 2.65 to 1 in Nasdaq

Advancing stocks led by 3.35 to 1 in NYSE & 2.73 to 1 in Nasdaq

New 52 wk highs were in the lead, 144 in NYSE & 97 in Nasdaq

VIX closed @ 20.69

Oil closed @ $102.24

Gold closed @ $1631.50

Stocks which were higher 3% or more included LVS,
CLF,FCX,MOS,SU,MPEL,LULU,BIDU,CRM,TSL,
TCK,MS,BAC,CRUS,MGA......

Jimmy the Cramer is back to his usual mantra of NOT predicting any rally in 2011 or 2012 & NOT believing IF there is a rally. He is urging his followers for the 100th time, NOT to participate in this rally. His approach defies any trading logic, IF there is going to be a continuation of this rally WHY NOT PARTICIPATE?????

As we all know that 2012 may be a lot different than 2011, so strategy needs to be ..... IN the market with NORMAL safe approach. This could be as simple as selling stocks which are @ or near 70 RSI & switch to stocks which may be in 40 or 50 RSI...that is NOT tough to keep in mind, instead of being guided out of this or any market.

AH News :

URBN Down 14.79%

CROX UP 5.64%

AH Futures Down

AH Asian Markets Mixed

AH Gold UP

AH Oil Down

BLOG does NOT give buy or sell.

Saleem