Indices made a remarkable comeback today & closed near high of the day. Volume was strong on Nasdaq & higher than average in NYSE. Today's close is impressive as weak retail sales & Greece hangover was there.
S&P 500 low today was 1340.83, & closed @ 1350.50
RSI @ 69.64
CMF sloping higher @ 0.482
Internals were :
Down volume led by 1.78 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 1.74 to 1 in NYSE & 1.65 to 1 in Nasdaq
New 52 wk highs were in the lead, 89 in NYSE & 74 in Nasdaq
VIX closed @ 19.54 UP 2.63%, lost majority of its gains by close, great for bullish picture.
Oil closed @ $100.74
Gold closed @ $1717.70
As you can see, that this market basically went sideways for seven trading days & did not lose too much ground. High was 1354.32 eight trading days ago, low was in 1337.35. We dropped 16.97 S&P points or 1.25% only. In a strong bull market, market may base for week & half in this case & then move UP again. TAPE is ready to take out 1354.32 highs @ open.
On another note, in Canada RIMM tablet Sales have jumped 300% & AAPL share has gone down 20.93% to 68% from 86%. RIMM share went from about 5% to 15%.....I know it is a David & Goliath match up, but nice to see that David is actually not crawling but running. Also there is rumour now that AAPL is coming UP with 7 inch tablet to check RIMM resurgence in that segment. I am not sure how Steve Jobs will take this development, he called 7 inch tablet "dead on arrival". Many hedge funds are "lovi'n RIMM now, putting their millions in RIMM. We may be living in interesting times NOW?
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
17 comments:
SALEEM
Seems every one love RIMM now--up in pre market!
APPLE up $6... AMAZON got rave revives from
J the Cramer last night, he also said buy APPLE...
He also said to buy MHR at $6.40 and copper is still the metal to own.--I am losing my shirt on copper right now. He love Total too. TOT in my long term play.
It is a great day! HAve a good day, Saleem
C
CNQ is down pre-makket
Hi C,
I guess most buyers are looking @ specs between ipad2 vs playbook1 & playbook graphics are 1080P & ipad2 is 720P..whatever happened to innovation in second try?..maybe they will get 1080P in ipad3????
I have to watch JTC( jimmy the cramer) video..i dont have CNBC for 3 years now....
Should be a very good day to count$$$$$$$.
Saleem
Saleem
An interesting iPad vs playbook comparison you make.
I believe that is all about the price!
Here are some facts: It has A6 processor, . Among other widely speculated beliefs, the display of the iPad 3 is expected to be twice the pixel count of the current iPad at 2048 x 1536 (that’s Retina Display level). The A6 processor is also anticipated to be quad-core, giving the chip a serious boost in processing power. new battery and SIRI voice new camera and flash for it. and have 4G--price will be the key
C
Hi C,
Every tablet maker is moving towards faster & better specs in next generation.....LTE is the new buzzword....
Saleem
Hey Saleem
You be correct
LTE is the buzz word......
Are you buying more on AMZN now that the price dropped?
Market is swaying back and forth this AM.
C
Hi C,
I added 30% RIMM @ $14.87....
AMZN has taken lot of my funds & is not giving me return yet?
Saleem
SALEEM
I really believe in AMZN...
IT should deliver a much higher price and v soon.....
RIMM is a good play too-- Good Luck
I bought LINN and I still can not catch my apple shares, oh well. I may get me some amazon..
C
Hey Saleem,
I feel very uneasy about the market today. I'm not sure I will act, but I'm thinking some things through at the moment.
The $VIX being drawn over $20 again is troubling.
Stocktrader
Hi C,
I hope your optimism about AMZN works out.
Good luck with your purchase.
Saleem
Hi Stocktrader,
I am puzzled about morning TAPE...
Many positive BUT......VIX UP 5%..
We made a nominal high in S&P 500 @ open??????
Saleem
Hey Saleem,
AAPL's RSI is 90.17 and rising--pretty incredible.
Stocktrader
Hi Stocktrader,
YES..AAPL RSI leads the pack @ 90.06
COH 83.49
LULU 75.67
LVS 69.33
Moral of the story, better to be lucky than smart????
Saleem
Hey Saleem,
Sold LEN 24.01, RVBD 28.89, APKT 35.13, MU 8.432.
Checking to see if I should sell anything else (SWC would be a candidate but I'm not allowed yet without putting the whole account on restrictions), but current cash is now 42.1%, which should be enough.
Stocktrader
Hi Stocktrader,
good moves......
saleem
Saleem
APPLE got hit this morning
I got 25 shares
at $506
we got a steady grind up
C
Hi C,
Good price for AAPL......
Good luck with AAPL !!!
Saleem
SALEEM
commodity pricesCommodities
Commodities
Name Price Change % Chg
Gold
1,727.70 +10.00 +0.58%
Silver
33.37 +0.02 +0.07%
Copper
3.807 -0.01 -0.20%
Oil
101.690002 +0.95 +0.94%
BDI is down $3 smackers today
C
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