Tuesday, February 28, 2012

All indices closed @ new multi-year highs in high volume......NICE !!!!

Indices faced many economic data, which were weak, but indices ignored all that & closed in new multi-year highs & near high of the day. How we close, determines strength of any market.

S&P 500 closed @ 1372.18

Internals were :

UP volume led by 1.20 to 1 in NYSE & 1.76 to 1 in Nasdaq

Advancing stocks led by 1.05 to 1 in NYSE & .93 to 1 in Nasdaq

New 52 wk highs were in the lead, 164 in NYSE & 76 in Nasdaq

VIX closed down 1.26% @ 17.96

Stocks which closed $ or more included AMZN,
CMG,PCLN,AAPL,GG,SLW,NTES,LVS,BIDU,
GOOG,BWLD,MA,V......

AH ER :

FSLR Down 7.99%

PANL Down 6.52%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, in order to understand the changing profile of this market, we need to look @ RSI first, which is 67.11 in Dow, 72.63 in S&P 500 & 74.43 in Nasdaq. In recent past, small correction of 1% happened when RSI exceeded 80. Looking @ current RSI, there is more room to run. Also IF we look @ RSI of leading stocks like AAPL RSI @ 84.13, PCLN RSI @ 84.28, MA RSI @ 82.44. Indices & leading stocks mirror each other in RSI trend. Currently, stocks RSI are leading indicator.

BLOG does NOT give buy or sell.

Saleem
at

11 comments:

  1. cFebruary 29, 2012 at 5:55 AM

    SALEEM

    Hello

    As always RSI comments put me focusing on what I always ignore--thanks

    APPLE is amazing run--$$$

    Copper is stil in the doldrums.....COP and TOT are still good to me
    J Cramer says LVS is best buy here! and Kellogg are buy here
    V best to all
    C

    ReplyDelete
  2. Stocks100February 29, 2012 at 6:25 AM

    Hi C,

    RSI is a good tool, i always keep in-focus.

    Base metals are lagging big-time.

    Saleem

    ReplyDelete
  3. cFebruary 29, 2012 at 6:45 AM

    Saleem

    Why is amazon still getting so many knocks

    I was looking to buy --down a buck
    Is it safe to buy here?

    thanks
    C

    ReplyDelete
  4. Stocks100February 29, 2012 at 6:50 AM

    Hi C,

    When AMZN is down, it is a good gift.....

    Saleem

    ReplyDelete
  5. cFebruary 29, 2012 at 7:18 AM

    SALEEM

    thank you
    C

    ReplyDelete
  6. psrajpalFebruary 29, 2012 at 7:19 AM

    Sold all the holdings this morning.

    SWC
    RVBD
    CNQ
    RIMM

    The market seems to be holding pretty well but I have a feeling that correction may be around the corner. All good news is already factored in.

    Good luck Everyone.

    Saleem - LEN is off the hook. Good entry $$$$$

    Thanks

    Paramjeet

    ReplyDelete
  7. Stocks100February 29, 2012 at 7:31 AM

    Hi Paramjeet,

    Thanks for your note re LEN.

    Economic good news will keep coming, that is how great bull market evolves.

    But, it is important to be comfortable with market.

    Saleem

    ReplyDelete
  8. cFebruary 29, 2012 at 8:01 AM

    SALEEM

    boy market is getting pounded

    Whoa

    ReplyDelete
  9. Stocks100February 29, 2012 at 8:06 AM

    Hi C,

    S&P 500 down 3 points after being UP almost 175 points..that is definitely NO pounding.

    Bought MS......

    Saleem

    ReplyDelete
  10. cFebruary 29, 2012 at 8:10 AM

    Saleem

    MS is a v good one--congratulations a winner IMHO
    So is JPM
    YOU should do well

    I go some RIG!!!

    Peace

    ReplyDelete
  11. Stocks100February 29, 2012 at 8:12 AM

    Hi C,

    Thanks for your vote of confidence in MS.....i like this one a lot.They got facebook business$$$

    Good luck with RIG.

    Saleem

    ReplyDelete