Thursday, February 9, 2012

Indices closed UP .05% to .39%.......NICE !!!!

Indices are shooting higher & higher on a daily basis.

This is making many technicians bearish, Carter Worth saying "this is it"

Internals of the market :

UP volume lead by 1.16 to 1 in NYSE & 1.11 to 1 in Nasdaq

Advancing stocks led by 1.03 to 1 in NYSE & .80 to 1 in Nasdaq

New 52 wk highs were in the lead, 163 in NYSE & 99 in Nasdaq

VIX closed UP @ 18.63

Oil closed @ $99.84

Gold closed @ $1741.20

Stocks which were UP 1% or more included COH,OTEX,LEN,FIO,AAPL,
LULU,VMW,BIDU,BWLD,
CRM,V,TSL,JCP,VECO,
CRUS,ARUN,WPRT....

AH ER :

NUAN Down 13.33%

LNKD Down 9.01%

AH Futures Down

AH Asian Markets Mixed

Oil & Gold Down

About Market, there is some crack in the internal of this market, Nasdaq decliners were in the lead when it was stronger than other indices.RSI is in deeply overbought territory. Nasdaq RSI @ 80.81 could spell pain for bulls. VIX was UP today again. My recommendation, book profit & reduce exposure. No need to be smarter than market.

BLOG does NOT give buy or sell.

PS...on Friday, there is only one closing post around 6 PM. I am available for comments during trading hours.

Saleem
at

24 comments:

  1. stocktrader_1996February 9, 2012 at 8:07 PM

    Hey Saleem,

    I noticed the poor breath on the NASDAQ also, which is a warning sign. AAPL being such a large component and being up so much skews the overall print.

    I'd love to buy some APKT and/or RVBD on some dips :).

    Stocktrader

    ReplyDelete
  2. cFebruary 10, 2012 at 5:18 AM

    Stocktrader

    YOu may get your wish this morning
    looking down to me in Pre market buy buy

    How much APKT or RVBD would you buy??

    Have a great day

    C

    ReplyDelete
  3. Stocks100February 10, 2012 at 5:36 AM

    Hi Stocktrader,

    This is the second negative read in Nasdaq internals on UP day....?

    Good luck with your buys.

    Saleem

    ReplyDelete
  4. cFebruary 10, 2012 at 5:48 AM

    Good Morning Saleem

    Direction of the market is down so far

    have a good day

    ReplyDelete
  5. stocktrader_1996February 10, 2012 at 5:58 AM

    Hey c,

    I'd buy normal position sizes. I have approximately 40% cash right now, so likely four stocks available for purchase. I will be looking near close for at least 1-2.

    Stocktrader

    ReplyDelete
  6. Stocks100February 10, 2012 at 6:09 AM

    Hi C,

    YES...down is more painful than UP.

    Saleem

    ReplyDelete
  7. cFebruary 10, 2012 at 6:54 AM

    SALEEM

    AMAZON is oh so strong today

    Up on a down day

    C

    ReplyDelete
  8. Stocks100February 10, 2012 at 7:03 AM

    Hi C,

    AMZN is @ same price as 14 months ago......Dec 2010 same price????

    Saleem

    ReplyDelete
  9. cFebruary 10, 2012 at 7:24 AM

    Saleem

    Do ya think we should get some more CNQ?

    thanks

    ReplyDelete
  10. stocktrader_1996February 10, 2012 at 7:25 AM

    Hey Saleem,

    I can't believe both RVBD and APKT are up today when I'm trying to buy low...just my luck!

    I guess good stocks are good stocks no matter what :).

    Stocktrader

    ReplyDelete
  11. Stocks100February 10, 2012 at 7:30 AM

    Hi C,

    CNQ is on fire sale......I am @ my max in terms of exposure in current encironment.

    Saleem

    ReplyDelete
  12. Stocks100February 10, 2012 at 7:31 AM

    Hi Stocktrader,

    This is a very tricky market, it surprises the best of us.

    Saleem

    ReplyDelete
  13. Stocks100February 10, 2012 at 7:36 AM

    Hi Stocktrader,

    RVBD is trading @ the same level as Oct 2010...17 month low?

    APKT trading @ June 2010..21 month low?

    Saleem

    ReplyDelete
  14. stocktrader_1996February 10, 2012 at 7:46 AM

    Hey Saleem,

    Patience is difficult right now when I see so many stocks popping higher. Probably the biggest reason I'm not getting in now is that the $VIX keeps creeping higher still today.

    Watching carefully...

    Stocktrader

    ReplyDelete
  15. Stocks100February 10, 2012 at 7:49 AM

    Hi Stocktrader,

    YES..VIX UP 11%.....& futures are all negative.

    Saleem

    ReplyDelete
  16. stocktrader_1996February 10, 2012 at 9:49 AM

    Hey Saleem,

    The market looks firm here--bought APKT $33.26, looking for others.

    Stocktrader

    ReplyDelete
  17. Stocks100February 10, 2012 at 9:53 AM

    Hi Stocktrader,

    S&P 500 found support @ 1337.35....it is 5 points above lows....nice strength.

    Good luck with APKT.

    Saleem

    ReplyDelete
  18. cFebruary 10, 2012 at 10:06 AM

    Hey guys:

    here is a thought:
    DRONE PROGRAM. I read this week the FAA is issuing Certificates to operators for domestic United States surveillance. There has got to be a lot of money in those manufacturing those drones and the ones operating them.?? a buy??

    market is bottomed
    Buy some stock now

    ReplyDelete
  19. stocktrader_1996February 10, 2012 at 10:15 AM

    Hey Saleem,

    Bought MU at 7.948.

    Looking closely at MET, FCX, CLF. If RVBD pulls back more, I'm interested there also.

    I also think the Volcker rule might get watered down, so some of the banks with big markets desks are interesting too.

    Stocktrader

    ReplyDelete
  20. Stocks100February 10, 2012 at 10:20 AM

    Hi Stocktrader,

    Good luck with MU & other potential buys.

    Saleem

    ReplyDelete
  21. cFebruary 10, 2012 at 11:21 AM

    SALEEM

    I bought some FCX, at $44.88
    I could not resist

    I am still waiting for apple to pull back
    I guess not today

    Regards
    C

    ReplyDelete
  22. Stocks100February 10, 2012 at 11:36 AM

    Hi C,

    good luck with fcx,

    saleem

    ReplyDelete
  23. stocktrader_1996February 10, 2012 at 12:46 PM

    Hey Saleem,

    Added KOG at $8.90 and RVBD at $27.67. I am fully invested again.

    Stocktrader

    ReplyDelete
  24. Stocks100February 10, 2012 at 12:56 PM

    Hi Stocktrader,

    Good luck with your chosen KOG & RVBD....

    Saleem

    ReplyDelete