Indices closed down, as energy stocks came under pressure. Today was also weekly option expiry.
Internals were :
Down volume led by 1.71 to 1 in NYSE & 1.63 to 1 in Nasdaq
Declining stocks led by 2.03 to 1 in NYSE & 2.44 to 1 in Nasdaq
New 52 wk highs were in the lead, 108 in NYSE & 72 in Nasdaq
Oil closed down @ $106.50
Gold closed down @ $1712.40
Canadian $ closed down 39 tick @ 101.12
VIX closed UP a whopping .03 tick or UP .17% @ 17.29?????
Portfolio is AMZN,CNQ,LEN,MS,RIMM,RVBD......
Stocks which closed UP 1% or more included RIMM,
PCLN,FIO,BIDU,WYNN.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
Portfolio is as follows:
APWC - 2.3%
(cash) - 97.7%
I saved some rather big money selling some of my commodity exposed stocks, but some others like LEN and MS had great runs shortly after I sold but have drifted back a bit now. At this point, I'm waiting it out to see what develops. These kind of rolling tops (if this is one) tend to take a while to play out. I suspect if we don't break back above 1370 fairly soon, you'll start to hear talk of long-term double tops, and if enough people buy into that, a nice buying opportunity may develop.
Bottom line: I'm not sure what is next, so I am content to watch for a bit.
Have a great weekend! :)
Stocktrader
Hi Stocktrader,
Correction or pullbacks are part of a strong bull market.
I am staying put with my sxposure & quite comfortable with it.
Enjoy your weekend.
Saleem
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