Thursday, March 8, 2012

Indices closed UP .55% to 1.18%........NICE !!!!

S&P 500 & Nasdaq erased all the losses from Tuesday in last two days.

S&P 500 closed @ 1365.91.

Internals were :

UP volume led by 5.49 to 1 in NYSE & 2.79 to 1 in Nasdaq

Advancing stocks led by 3.92 to 1 in NYSE & 2.72 to 1 in Nasdaq

New 52 wk highs were in the lead, 108 in NYSE & 72 in Nasdaq

Oil closed @ $106.58

Gold closed @ $1698.70

VIX Down 5.87% @ 17.95

Stocks which were UP 2% or more included AMZN,LEN,OTEX,RIMM,
LULU,COH,LVS,AAPL,CLF,
BWLD,TCK,AUY,SU,NTES,V,LRCX,
VECO,JDSU,CIEN,FNSR,C,BZH,CRUS,ARUN......

Chinese inflation came in lower than expected, expectation were 3.4%, actual 3.2%......this is 20 month low.......

AH Futures Down

AH Asian Markets UP

AH Oil & Gold UP

About market, there is a very good chance that we make a new 2012 high in all indices. Jimmy the Cramer admitted his wrong call that "market is in worse shape" after fighting for two days. Nobody can fight the TAPE. Next to fall in line is Adami & Kass all were expecting 1300 or less in S&P 500. This is a well defined bull market. Quick correction is all what you are going to get. This trend is entrenched since January 2012.

Jobs report should be a better than consensus.

BLOG does NOT give buy or sell.

Saleem

12 comments:

c said...

SALEEM

good morning sir

Kudo's foe a perfect market call!! You did it and did not raise your voice nor pointing a finger
Amazing predication..... COOL

Greece is solved --now Spain and Portugal -- Germany is the power house
Cramer said by DEER MCD, BGCP and BMY..

Me, I am shopping and I thank you for your positive tone and feedback
C

Stocks100 said...

Hi C,

Sincere appreciation of your feedback.

I respect everyones opinion BUT have my own..this way visitors are the judge......

Good luck today.

Saleem

stocktrader_1996 said...

Hey Saleem,

Job growth in this country is incredible. I'll definitely be buying if there's any hit on the "hawkish Fed" theory, but need to come up with a plan anyways to get back involved. We are going to be just fine! :)

Stocktrader

Stocks100 said...

Hi Stocktrader,

Fed is actually worried about "slugginess" in economy...BB calls it UNEVEN......

Good luck with your analysis.

Saleem

stocktrader_1996 said...

Hey Saleem,

Bought MS, CLF, FCX, RVBD, APKT, CF, DOW.

That's all I can buy today due to the quick flip I made this week. Those funds should be available early next week.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good luck with your well diversified portfolio.

Saleem

stocktrader_1996 said...

Hey Saleem,

It was a little haphazard, but I stuck with things I knew. There will likely have to be some adjustments later, but it was necessary to get exposed. The jobs number and revisions were definitely better than I expected.

One very important thing I've noticed is that the yen is breaking down badly. I think the yen carry trade is coming back en force. This could lead to multiple expansion, which may catch a lot of people by surprise.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

I think the chances of a RRR cut this weekend from China are pretty good given the overnight data also.

Stocktrader

Stocks100 said...

Hi Stocktrader,

US economy is "chugging along nicely"...NOT overheating.

YES..there is widespread expectation of cut in Reserve Requirement from Banks in China.

Saleem

c said...

Saleem

I got some SDRL

MCD and SFL did not fill

FCX AUY were red on me --yuk
APPLE continues to charge up!
best to all
Greece killed the market not sure how that country continues to matter--so darn much

Stocks100 said...

Hi C,

Good luck with your new buys.

Greece is an endless saga..curtain will fall soon on this drama also.

Saleem

Stocks100 said...

Hi C,

Good luck with your new buys.

Greece is an endless saga..curtain will fall soon on this drama also.

Saleem