Indices closed near lows of the day in all indices.
Volume picked up in some.....
S&P 500 closed a tick above low of the day @ 1324.80
RSI @ 29.67
Internals were negative & were down over 2 to 1
New 52 wk lows intensified, 135 in NYSE & 122 in Nasdaq
Oil Down @ $92.81
Gold Down @ $1536.60
VIX closed UP @ 22.27
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About Market, S&P 500 has shed 7.37% @ close since start of April. Pessimism is @ its peak. Most stocks RSI are near bear market lows. We may see a strong rebound from current level.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hey Saleem,
RL got a positive mention today in an analyst note, and at a quick look it seems attractive at these levels. Do you (or anyone else) have any insight on this company?
Thanks! :)
Stocktrader
Hi Stocktrader,
NO..i do not follow RL....
Looked @ chart....it is below 50 & 200.....RSI @ 27.29......
Saleem
Saleem
Market is positive leaning
GOLD SILVER COPPER are up
DOW PM + $17, is positive, BDI is unchanged today....
lets hope for some traction today
C
Hi C,
TRACTION & upward SLOPE is what we need....
Saleem
SALEEM
Look at this news on TankersSuezmax charge continues
A burst of business in West Africa has sent suezmax rates soaring again to the US and Europe, with owners pocketing nearly 70% more at $30,500 per day.
link here:
http://www.tradewindsnews.com/tankers/ar...
VBTA
Hi C,
Shipping is one sector, i have never understood its business model...huge loss for many...
Saleem
SALEEM
I am so sorry
I do not mean to displease
This is the first news that is over the top
for tanker rates and may bode well
for all tankers rates in general
In nut shell, high rates mens HUGE profits !!
Hope thinks are going well for ya and that all is well
with the family
Hi C,
I made a statement about shipping sector..which is beyond my understanding...that is all.
Everybody is OK...mother is in Texas..with my youngest brother.
Saleem
Saleem
GOLD is hot today
AUY and FCX are popping
Gold is up $35
Whoo who
C
Hey Saleem,
Looks like a solid bottom today for medium term? You could really feel the washout of prices and emotion?
Stocktrader
Hi Stocktrader,
With all the bad news about US economy today..it seema that , we have found a bottom for now....
Saleem
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