Indices were headed to a major fall after European elections, where leftist came to power.
As markets were oversold, there was little punch to the selling.
Indices closed near high of the day.
S&P 500 closed @ 1369.58, RSI @ 42.94
Internals were :
UP volume led by 1.16 to 1 in NYSE & .90 to 1 in Nasdaq
Advancing stocks led by 1.40 to 1 in NYSE & 1.15 to 1 in Nasdaq
Oil closed Down @ $97.94
Gold closed Down @ $1639.10
VIX closed Down @ 18.94
Stocks which were UP 1% or more included CRUS,VECO,GOOG..
AH ER :
WYNN Down 1.53%
EA Down 5.55%
RAX Down 11.52%
SNCR Down 18.03%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Indices are deeply oversold @ open today. Volume was low in selling. We are setting up for a nice rally.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Saleem
Hello to ya
J Cramer was all over LSI---Positive!
see cut and paste:LSI Corporation (LSI): "People don't understand it...it keeps getting better and better. That was a great quarter...that was on fire. LSI should be bought."
PM dow down $50
Gold silver copper down PM...
Cramer also love AGI and NAT
C
Saleem
Correction please, not AGI, but AIG
AIG was Cramers top suggestion for the year
He was oh so convincing in his analysis, Including Gov't over hang and Sundays shelf offering:
Cramer said there was one this weekend, when a last-minute deal to offer a $5 billion secondary for AIG (AIG_) priced at $30.50 a share, only to close at $31.84 and instantly make money for shareholders.
Hi C,
I saw that on Internet about LSI.
Saleem
Hey Saleem,
Kudos to Up on his skepticism--cash has been king!
Attempting to weather the storm...
I still (foolishly?) think we can resolve these European situations without massive collapse, which would make stocks attractive here in my opinion.
Stocktrader
Hi Stocktrader,
Today is a "flushout"...which will clear the way for an uptrend.
European problems are not going away anytime soon.
YES Up had it right.
Saleem
CNBC
on Slow Money
stated that they thought a wooooosh was occurring
Possible for today--Is there volume-that is the tell
My REITS are hot today, TWO, IVR, NLY PETDX
My oils and gassers are crushed!
Nat and My SFL are mean and green--but BDI has not been real cooperative either?
Europe will be over when Germany either stops the support or floods the euro with money--I am not sure that they will--While stationed in Germany, I always felt that Germany was for Germans first and always! They like Americans money, but not us so much!
Dunno if I am correct but maybe :)
Just my .02 cents!!!!!!!
C
Hi C,
Good recap of German dilemna of what to do with Greece & France....
I enjoyed my many visit to Germany...Germans are very friendly & speak good English.
It was a "flushout"......
Saleem
Saleem
Market is not friendly to us long. And seeing my account turn red everyday this week. Should had listen to myself by not holding anything, guess it is a little late now. I am buying some AMZN and AAPL calls for the bounce since they are the leader right now
UP
APPLE options are very hot
I have bought deep in money calls and my timing always was terrible
a good idea to make money$$$$$$
Good luck to all
C
C
When I buy options, I always buy few months before it expire, so if anything went wrong, I still have some time to weather it out. Just play it light right now since greed is gone from traders mind and fear is replacing it.
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