Indices showed its resilience again today, by dealing with Chinese economic slowdown with a "big yawn"......
S&P 500 closed @ 1405.52, less than 9 points below 2012 intraday high.
Internals were :
Down volume led by 1.92 to 1 in NYSE & 1.34 to 1 in Nasdaq
Declining stocks led by 2.04 to 1 in NYSE & 2.10 to 1 in Nasdaq
New 52 wk highs were in the lead again, 41 in NYSE & 58 in Nasdaq
VIX closed UP 3.59% @ 15.58
Oil closed @ $105.61
Gold closed @ $1647.00
AH ER :
ORCL UP 1.46%
JBL Down 2.42%
Stocks which were UP 1% or more included AMZN,MS,
COH,TIF,AUY,APKT,TSL,JCP,LRCX....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, today was a typical 1% pullback on an intraday basis. It is very easy to see that those who over-reacts to even Chinese slowdown news, are NOT feeling very smart by end of the day. Stay the course & think very long-term like five years, with your best ideas to invest. Stay diversified in growth stocks & "it will come together"
BLOG does NOT give buy or sell.
Saleem
2 comments:
SALEEM
GOOD DAY SIR
Very cool on amazon
What huge surprise--up in pre market now.....
My ERF pays a nifty dividend down a little--maybe copper has returned from the dead --
FCX and SCCO came back some by the close
I think coppers will do fine in the 3 quarter--
I hope so...
C
Hi C,
This is a rotating market, every sector will have its day in the "sun"....
I am glad copper had pulse yesterday......
Chinese slowdown is impacting many metals.
Saleem
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