S&P 500 sliced through 50 DMA & is falling further.
S&P 500 low so far is 1359.28.....
RSI @ 38.16
Dow is further below 50 DMA....
Nasdaq came close to 50 DMA but is still above
Internals are negative by 5 to 1.....
New 52 wk lows expanding their lead...
Oil Down $1.57
Gold UP $19.90
Canadian $ Down 65 tick @ 99.65
VIX UP 9.73% @ 20.64
In my portfolio :
Sold JCP
Portfolio is CNQ,COH,RIMM,RVBD,ZNGA
Exposure 112%
Most stocks are Down......
@1.55 following are green :
BWLD,ABX,GG,AEM,KGC,AUY,TSL...
BLOG does NOT give buy or sell.
Saleem
9 comments:
Saleem
At least you got out with dignity JCP -should have been a goodie,,,
--yeks..
My apple took a v good hit today
CNQ has been awful -- gotta be over sold
I hope Alcoa is good earning tonight
C
Hi C,
AA alway's miss either actual earnings or sales or both..guidance maybe below also....so no help there.
I like to cut my loss quickly IF i am not confident...
CNQ behaving better than crude...
Saleem
Saleem
When you look at this year raise on stock, actually there is only selective stock that goes up from Dec. Majority of them are flat from where they are few months ago. If this correction go on a little more, it will turn almost all stock into negative territory for the year.
with 50dma gone from today's sell off, if we don't bounce soon, it will be very ugly out there. Only good thing that are supporting us is market is oversold, but we all know down market will make stock oversold become more oversold. good luck to all of us who still holding stocks.
S
Alcoa. Wa not bad .10 cents earnings -guianance up
C
C
I am all load up today, I hope this is not one of my silly mistake
UP
You are good! IMHO,
We are over sold
I think earnings are going to be swell
I held all my positions so I am all in
GLTA
Salem
This an excellent chart on amazon
Enjoy!,,,
WPaulenoff tells subscribers today: Amazon (AMZN) has corrected off of its recent upside breakout rally high at a 209 print, into the 192- 191 support zone, which thus far has contained the weakness. The stair-step decline exhibits a completed corrective pattern from 209 to 191.
As long as 190-188 support contains any forthcoming downside "over-shoot" selling pressure, the weight of techincal evidence in AMZN argues for entering or maintaining long positions in and around current levels.
Chartwork at http://www.mptrader.com/middayminute/4/2...
Hi Up,
YES...majority of stocks have NOT participated in this rally..i have few of them in my portfolio.
Hopefully, other stocks should make a move with or without market being strong......
Sometimes oversold conditions CAN bring strange / POSITIVE tape ...
Saleem
Hi C,
I always think that AMZN will make a move..BUT it suddenly goes South...
AMZN closed BELOW the chartist support zone...BUT it may not mean anything...AMZN takes off on its own time.....
Good luck with AMZN.....
YES AA did well..let us see IF it helps us on Wed.....
Saleem
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