Constructive close today, as indices did NOT close @ their lows.
S&P 500 closed Green @ 1316.63, low was 1310.04.....it was almost a Doji close....
RSI @ 34.84
Internals were :
Down volume led by 1.1 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by .94 to 1 in NYSE & 1.63 to 1 in Nasdaq
New 52 wk lows CONTRACTED to 44 in NYSE & 70 in Nasdaq
VIX UP 2.14% @ 22.48
Oil closed @ $91.66
Gold closed @ $1576.60
Stocks which were UP .8% or more included COH,LNKD,LEN,
NTES,QCOM,V,C,KORS....
AH ER :
ADI Down 2.96%
DELL Down 12.86%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, European markets closed UP almost 2%. US market is driven by Hedge Funds & Rumour.Latest rumour is being denied AH by last Greek Prime Minister. YES..that is the way US market is behaving.Based on RSI in indices & in strong stocks, it is PRUDENT to look beyond minute by minute GYRATIONS. Stick to your OWN conviction & PRUNE out stocks which is NOT working & does not have big money sponsorship.
Till Q4 it will be tough to make money, but be positioned in stocks where chances of making money is very high. I have rejigged my portfolio big time & am more confident of future gains. Undervalued stocks with question marks are not being given any credence. It is NOT what you think, it is what market thinks under the "current environment." Adapting to "new reality" is key to success on Wall Street.
BLOG does NOT give buy or sell.
Saleem
4 comments:
SALEEM
I am at NOAA
Took a short time job
J Cramer screamed the merits of buying APPLE as the chart say buy
I dunno, I still hold mine at $490.....
Yoy market report is excellent
I was so disapointed by the sell off yesterday--Europe all over again
I like LEN \
JCP is an interesting buy--
Very best to all
Hi C,
Good luck in your new job.
YES AAPL is among better stock to buy...after FB fiasco.....
Selling is in anticipation of meeting....
Thanks for your feedback on my analysis..."taking care of business..everyday"
Saleem
Hey Saleem,
I'm looking at CF, AAPL, LEN/TOL, APKT, and FB/ZNGA all up on my board. This is an interesting mix and I think it shows the future growth stocks are being picked out for purchase right now. I'm encouraged by this action despite the huge down day.
Let's see what the rest of the day holds...
Stocktrader
Hi Stocktrader,
YES...some stocks are showing "relative strength"...which bodes well for close.
Saleem
Post a Comment