Indices are making higher highs based on real momentum in US economy.
S&P 500 closed @ 1395.95, RSI @ 69.73.....
Indices closed UP 1.68% to 1.88%
Internals were :
UP volume led by 10.14 to 1 in NYSE & 7.60 to 1 in Nasdaq
Advancing stocks led by 4.39 to 1 in NYSE & 3.42 to 1 in Nasdaq
New 52 wk highs expanded, 191 in NYSE & 164 in Nasdaq
VIX tumbled 5.37% @ 14.80
Oil closed @ $106.71
Gold closed @ $1694.20
Stocks which were UP 4% or more included LEN,MS,
VMW,FFIV,TSL,MU,BRCM,JDSU,CIEN,FNSR,C.....
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE is on fire, there are some who like to play with fire like Doug Kass, who made his 4th appearance after his declaration of market TOP several weeks ago. Today he pretended to be an expert in a new short idea of XLF, last week it was his brilliant short idea of QQQQ. Bottom line is, this is a very strong bull market, got to stay the course.
BLOG does NOT give buy or sell.
Saleem
Morning to you
ReplyDeleteSaleem
WHat is a blow off top! CNBC keep saying we had one yesterday--They S&P had 5 handles left
I see lot of red PM
MS looking good for us up!
C
Hi C,
ReplyDeleteBlow off top is when we keep going UP 2% for @ least 3 days....in high volume.....1425 MAY be that area.
YES MS looking good$$$$$
Saleem
Saleem
ReplyDeletethanks so much, for information-- 3 days i a row is the key with a 2% or more up .....
WOW-CNBC is so bogus I got the impression it they were saying head for the hills!
AUY and FCX seem broke for now.
J Cramer is back to buy buy buy
C
Hi C,
ReplyDeleteBlowoff is an overbought buying frenzy...could be a 300 point UP day in high volume.....
Saleem
SALEEM
ReplyDeleteI sold my AUY--miners are stinking right now took an 8% loss
did not think it prudent to hold it is a bull market
My small amount of MCD is positive here! Happy feet
C
Hi C,
ReplyDeleteGold stocks are in bear territory..good that you got rid of AUY......
FCX has gold component also...
Saleem
Saleem
ReplyDeleteTHanks for feedback
FCX is also copper and pays a tiny dividend to wait for a return
One would think that the commodities (copper) would
show some upside!
POT and AGU are the ags that I watch and have been not participation in this rally
C
Hi C,
ReplyDeletePOT is very weak......
Saleem
Hey Saleem,
ReplyDeleteLots of ugly stocks today in my portfolio--CLF and FXCM saving me.
Stocktrader
Stocktrader
ReplyDeleteTry some APPLE and BMY
My Fav's
C
Hi Stocktrader,
ReplyDeleteIncredible move by FXCM.....good research....CLF is strong also.
NO saviour for me?
Saleem
SALEEM
ReplyDeleteMS dropped in price
Gosh
I guess the market is resting
C
Hi C,
ReplyDeleteYE..MS gave up all the gain & then some...down 33 cents now....
Saleem
SALEEM
ReplyDeleteApple news that we can use
the options are trading like crazy
2 upgrades today $900 Is one ! Whoa!
Thinks about getting some Plz:):):)
I know that I may be able to cover my $3,500 loss in TOTAL with the apple gains, IMHO..
we shall see how it turns out..
They claim that iPad sales are huge!!
C
Hi C,
ReplyDeleteAAPL ipad has many features which IS ahead of the CURVE for now....
First mover advantage is there for AAPL......
YES ..you are ALREADY doing well with AAPL......IF you are PATIENT..then who knows how far you may benefit$$$$$$$
Saleem