Thursday, May 24, 2012

Another impressive close.....NICE !!!!

Indices ended the day on a very impressive footing.

DOW & S&P 500 ended green.

Nasdaq was under pressure & closed down.

S&P 500 closed @ 1320.68

Internals were :

UP volume led by 1.12 to 1 in NYSE & .59 to 1 in Nasdaq

Advancing stocks led by 1.39 to 1 in NYSE & 1.05 to 1 in Nasdaq

New 52 wk lows were leading but shrank big time, 46 in NYSE & 58 in Nasdaq

VIX closed down 3.54% @ 21.54

Leading stocks were under selling pressure all day & closed down as listed :

LNKD -$4.70, TIF -$4.21, CMG -$4.34, PCLN-$4.15,
GOOG -$5.80, AAPL -$5.24, AMZN -$2.04, CLF -$2.26

Oil @ $90.66

Gold @ $1557.60

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, how we close determines the real strength of any market. Last several day's we had impressive close near high of the day. This is setting UP for a strong UP day. BUT...as usual do NOT get carried away, as machines are running the show & volume is drying up due to upcoming long weekend. Stay with your conviction as markets should work its way higher, with its usual gyrations.

BLOG does NOT give buy or sell.

PS..On Friday's, there is a closing BLOG only around 6 PM.

Saleem
at

6 comments:

  1. MadmaxMay 25, 2012 at 5:10 AM

    SALEEM

    Have a long warm weekend
    Going to 90degrees here DC/MD

    I have no changes in portfolio at the moment
    Have 115% invested at the moment.

    I am hoping that APPLE does a breakout today
    If so we are off to $600 so says J Cramer

    VBTA
    Good luck

    ReplyDelete
  2. Stocks100May 25, 2012 at 5:22 AM

    Hi C,

    It is warm here also 66 now going to 75..with humidity more like 80..

    Hopefully we close on a strong note today...

    Saleem

    ReplyDelete
  3. cMay 25, 2012 at 8:22 AM

    SLEEM

    Get some SFL

    it is a rocket again
    wow

    ReplyDelete
  4. Stocks100May 25, 2012 at 8:37 AM

    Hi C,

    Thanks for your recommendation....i have to sell something to buy anything.....not in a position to do that...

    Yes SFL is a "rocket ship"

    Good for you..50% stake still there.

    Saleem

    ReplyDelete
  5. stocktrader_1996May 25, 2012 at 11:08 AM

    Hey Saleem,

    Sold my OCZ at 5.086 average. I just don't like the price action, and I fear commoditization in the sector. At the very least, I feel I can deploy into a better stock.

    Stocktrader

    ReplyDelete
  6. Stocks100May 25, 2012 at 11:59 AM

    Hi Stocktrader,

    Better to be involved with stocks where you have nore conviction.

    Good luck with future purchase.

    Saleem

    ReplyDelete