Indices ignored European Manufacturing data & construction spending in US, focus was on Chinese PMI & US manufacturing data. Indices made new 2012 intraday highs.
S&P 500 high was 1422.38, closed @ 1418.90
RSI is 66.80
CMF is ascending @ 0.279
Internals were :
UP volume led by 3.95 to 1 in NYSE & 2.48 to 1 in Nasdaq
Advancing Stocks led by 3.00 to 1 in NYSE & 2.28 to 1 in Nasdaq
New 52 wk highs expanded again, 154 in NYSE & 109 in Nasdaq
VIX closed UP .9% @ 15.64
Oil closed @ $105.23
Gold closed @ $1679.70
In my portfolio :
Added 110% more ZNGA @ $12.77.
Sold OTEX.....
Portfolio is AMZN,CNQ,JCP,RIMM,RVBD,ZNGA...
Exposure @ 130%
Stocks which were UP 1% or more included CNQ,
CLF,FCX,TCK,TIF,COH,AAPL,VMW,FIO,GG,
AUY,SLW,SU,NTES,FFIV,CRM,MA,VECO,
CIEN......
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, As we are elevated, we need positive news
to keep this market UP.
A pullback must not surprise anyone. Catalyst could be anything from Fed minutes to Car Sales or you name it. So keep a very close eye on news, which may pull this market down.
I am trading lot differently than before, i have completed 24 trades between Jan 2012 to March 2012, an average of 8 completed trades per month. I was down in 4 completed trades & UP in 20 completed trades. This is my best ratio which i can recall. I am in no hurry to sell when trade is looking negative, but do try to book profit when its there.Some food for thought.
BLOG does NOT give buy or sell.
Saleem
SALEEM
ReplyDeleteYes you do trade differently--but maybe, just maybe I should trade like you! I can $$$$$ make serious money...:):):)
In all seriousness, AMZN looks hot in PM as is APPLE.
Is ZNGA a good one here? I do not know the catalyst!
In Pre market Copper looks good CNBC now says get FCX--they blow hot cold!
UP --good luck with X , AMZN you got the beet
V best to all
C
HI C,
ReplyDeleteWe are all different in terms of trading style. I highlight mine because it seems to be working BETTER this year....just sharing some personal info...for what its worth.
ZNGA was bought purely on technicals ..RSI @ 47.22 even RIMM is higher @ 52.77....
Good luck with your portfolio.
Saleem
SALEEM
ReplyDeleteI was offering you the fact that your current style
is awesome.......
Making money is the key.....$$$$$$$
take the money and run :)
SALEEM
ReplyDeleteand all
Is amazon to be sold now??
Or do we wait till further upside to come
Stock charts says target is $210
Lets hear it for AMAZON
C
Hi C,
ReplyDeleteAMZN has resistance around $219 area.....
I am planning to add today sometimes.....
Good luck with your decision.
Saleem
Saleem
ReplyDeleteLooks like AMAZON went back down on auto sales news
Are you buying more here
Up
heard some negative news on steels--do not follow it
at all.
Vere best to you all
Hi C,
ReplyDeleteI am buying AMZN before close....expecting weakness by close...
Saleem
C
ReplyDeleteI expected X to be down today because daily chart of yesterday is overbought. That is why I sold last night and will buy it back today. For AMZN, why worry when chance of upside is greater than down
Saleem
ReplyDeleteStock worry me the most is RIMM. We should have never break 14 when triangle was breaking to the upside. A scenario I have for this kind of action is funds are getting out by pushing the price up, then getting out slowly.
Hi Up,
ReplyDeleteRIMM i am holding long term, i am not adding any more shares...just keeping my existing shares..have not sold any....
RIMM is down because of lawsuit by a Dutch company, plus technical weakness for sure....
Saleem