All indices are on higher grounds, which is also multi-year highs.
@ close indices were UP .96% to 1.51%
S&P 500 closed @ 1358.04
RSI in S&P 500 @ 69.43
Internals were:
UP volume led by 6.03 to 1 in NYSE & 5.86 to 1 in Nasdaq
Advancing stocks led by 3.08 to 1 in NYSE & 3.22 to 1 in Nasdaq
New 52 wk highs were in the lead, 121 in NYSE & 109 in Nasdaq
VIX tumbled 9.08% @ 19.22
Oil closed @ $102.31
Gold closed @ $1728.40
AH ER :
BIDU UP 1.04%
AMAT UP 5.37%
SPWR UP 11.90%
Stocks which were UP 2% or more included RIMM,CNQ,RVBD,
AUY,FCX,GG,AEM,LVS,BIDU,SLW,TCK,BRCM,VECO,C,
JDSU,CIEN,ARUN,NU,WPRT....
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold UP
About market, it is important to pay attention to RSI, book profit in high RSI & switch to lower RSI, this way your risk / reward ratio is more favourable.This market is stronger than anyone could have predicted. It is important to have reasonable exposure, even when you are not that comfortable @ these elevated level.
BLOG does NOT give buy or sell.
Saleem
Good Morning Saleem
ReplyDeleteIt is going to 55% in DC today
I am still studying ERF
best of luck
Hi C,
ReplyDeleteHere it is between 25 & 33 degrees.
Hopefully another productive day today$$$$$
Good luck with ERF101.
Saleem
S
ReplyDeleteI Sold BGS took a lille profit
Bought ERF
best to all
C
Hi C,
ReplyDeleteGood idea ..booking profit$$$$
Saleem
Hey Saleem,
ReplyDeleteIt is getting more difficult to find stocks nicely undervalued as a lot of the potentially good economic data has been factored in for now. I think we are about to enter a consolidation (or pullback?) phase. Proper stock selection should still provide outperformance however and I'll stick with my high exposure :).
Stocktrader
Hi Stocktrader,
ReplyDeleteIt is important to recognise different phase of any market.
Now, we are in a narrow gain market.
Easy money has been made for a while......
Good luck with your comfort level.
Saleem