Many bears are in DEEEEEP trouble with this market, they were so sure many weeks ago, that they made REPEATED appearance on CNBC to announce their HIGHEST short position. First thesis market has topped, second QQQQ is a great short & last Banks have seen their highs.....it is sad to see that all three thesis are 100% WRONG for many weeks....cannot wait for their next short idea ?
S&P 500 closed @ 1402.60 near high of the day, actually missed the high by 3 tick.......
Internals of the market :
UP volume led by 3.38 to 1 in NYSE & 3.21 to 1 in Nasdaq
Advancing stocks led by 1.50 to 1 in NYSE & 1.99 to 1 in Nasdaq
New 52 wk highs were in the lead, 104 in NYSE & 110 in Nasdaq
Oil closed @ $105.11
Gold closed @ $1659.50
VIX closed UP .72% @ 15.42
Stocks which were UP 3% or more included RVBD, MS,
CLF,VMW,TSL,VECO,JDSU,CIEN,C.....
AH Futures Down
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, we had seven straight days of Dow being UP, similar trend in S&P 500 & Nasdaq. It is perfectly normal to have a minor pullback or sideways move. As Friday is Weekly & Monthly Option expiry, expect some Volatility. This market is to stay put or buy / switch on any weakness.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Good Morning Saleem
Looks like Copper is the talk of the CNBC talking heads
FRO is hot
NAT hot
Let us see how far SFL goes up......
Hi C,
What is SFL all about?
Good luck with copper.
Saleem
SALEEM
this is a take on SFL:
IMHO it takes the best form FRO and others and is a financial arm for the shippers who use SFL money--here goes--I am sure this explanation is way better than mine.
Ship Finance International Limited (Ship Finance) is engaged in the ownership and operation of vessels and offshore related assets. It is also involved in the charter, purchase and sale of assets. It operates through subsidiaries, partnerships and branches located in Bermuda, Cyprus, Malta, Liberia, Norway, the United States, Singapore, the United Kingdom and the Marshall Islands. The Company is an international ship owning company asset bases across the maritime and offshore industries. During the year ended December 31, 2010, the Company took the delivery of SFL Hudson and SFL Yukon. In March 2010, it took delivery of Everbright. In October 2010, it took delivery of the new building containership SFL Avon. In January 2011, it acquired jack-up drilling rig Soehanah. In February 2010, it sold the VLCC Front Vista to a subsidiary of Frontline. In April 2010, it sold the single-hull VLCC Golden River. In September 2010, the single-hull VLCC Front Sabang was sold.
Hi C,
Thank you for a very detailed summary of SFL......
Saleem
SALEEM
Good afternoon
SFL
is rocking
I may get more SDRL - I expect great things their
AMAZON is finally green again--must be St. Patricks day green
C
Hi C,
YES SFL & FRO rocking big time....
YES..AMZN got some green..better than RED.....
Saleem
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