Indices rocketed UP 2.20% to 3.00% on European Fix......NICE !!!!

Indices let the horses out after learning that "European got solutions"

All the indices closed @ high of the day & above 50 DMA.

S&P 500 closed @ 1362.16, high was 1362.17.......

RSI @ 59.13

Internals were :

UP volume led by 7.93 to 1 in NYSE & 8.69 to 1 in Nasdaq

Advancing stocks led by 6.74 to 1 in NYSE & 5.84 to 1 in Nasdaq

New 52 wk highs were leading, 242 in NYSE & 136 in Nasdaq

VIX tumbled 13.34% @ 17.08

Oil closed UP @ $84.96

Gold closed UP @ $1604.20

Canadian $ jumped 1.49 cents @ 98.31

In my portfolio :

Bought BIDU @ $111.25

Portfolio is BIDU,COH,LVS,NTES,JCP

Here is my weighting as of tonight :

NTES 29.46%

COH  25.09%

LVS  19.28%

JCP  14.66%

BIDU 11.51%

Exposure 131%

Stocks which were UP 3% or more included BIDU,COH,JCP,

LEN,CLF,PCLN,LNKD,TCK,GG,SU,LRCX,MU,BRCM,

VECO,JDSU,CIEN,C,SNDK......

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed near highs of the day, in higher volume ...NICE !!!!!!

Indices turnaround from steep losses & closed near best level of the day. Volume was higher.

Indices lost .20% to .90%

S&P 500 closed @ 1329.04

RSI 49.79

Internals were mixed :

UP volume led by 1.13 to 1 in NYSE & .37 to 1 in Nasdaq

Advancing stocks led by 1.31 to 1 in NYSE & .62 to 1 in Nasdaq

New 52 wk highs were leading by 48 in NYSE & new 52 wk lows were leading by 21 in Nasdaq

VIX UP 1.34% @ 19.71

Oil @ $77.69

Gold @ $1550.40

AH ER :

NKE Down 12.43%

RIMM Down 14.02%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was extremely impressive going into close. CMF is rising & green in all indices. CNBC pundits are "crying uncle" , a sure contrary signal of a turning market. i am expecting Friday to be a green close. YES...this market is difficult & stocks are going below support, but a gradual improvement in stock prices cannot be far off. When in doubt, alway's remember some wise investor, whose name is Peter Lynch......he wants to ask you "why did you buy any stock in the first place"..IF your reason for buying has not changed, then "stick with it".

BLOG does NOT give buy or sell.

Saleem

Indices down 1.22% to 1.77%...near low of the day....

Indices are down sharply, thanks to "no expectations from EU meeting"

European markets are behaving much better, down from .37% to 1.27%....

S&P 500 low so far is 1314.50, currently @ 1315.55

RSI @ 45.94

Internals are negative by minimum 2 to 1

Oil Down $2.37

Gold Down $27.10

Canadian $ Down 93 tick @ 96.61

VIX UP 6.74% @ 20.76%....this IS giving hope for a better close....

Portfolio is COH,LVS,NTES,JCP

Most stocks are down

@ 1.59 following are UP :

JCP,TIF,LEN,MU,X,ECA......

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .74% to .90%......NICE !!!!

Indices are showing latent strength by not only turning green but closing green for two days in a row.

S&P 500 closed @ 1331.85

RSI @ 50.70

Internals were :

UP volume led by 4.11 to 1 in NYSE & 3.34 to 1 in Nasdaq

Advancing stocks led by 3.66 to 1 in NYSE & 2.56 to 1 in Nasdaq

New 52 wk highs were leading, 99 in NYSE & 72 in Nasdaq

VIX closed Down 1.37% @ 19.45

Oil @ $80.21

Gold @ $1578.40

Stocks which were UP by 1% or more included LEN,

CLF,FCX,SU,MU,BRCM,VECO,JDSU,CIEN,FNSR,

C......

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About Market, TAPE is showing strength , when backdrop is pretty negative, this is a strong contrary indicator. EU meeting which starts Thursday & goes on till Friday has been written off by all pundits, TAPE is telling us that skepticism is good, as month end buying is giving support. Not only its month end but Quarter end & Six month ends in next 2 days. There is a strong possibility, that EU outcome may not be a factor, thanks to seasonal strength. My suggestion, participate in strength & sell on any weakness.

BLOG does NOT give buy or sell.

Saleem

Indices green.....NICE !!!!

Indices are green, UP from .56% to .75%

S&P 500 high today 1333.60, currently @ 1330.57

RSI @ 50.38

Internals are positive by minimum 2 to 1

New 52 wk highs are in the lead.

Oil UP $1.06

Gold UP $4.10

Canadian $ Down 10 tick @ 97.53

VIX unchanged @ 19.72

In my portfolio :

Sold LEN

Added 100% JCP @ $21.64

Added 65% LVS @ $42.49

Portfolio is COH,LVS,NTES,JCP

Most stocks are UP

@ 2.04 following are among red :

NTES,JCP,LVS,LULU,M,KORS,TIF,

PCLN,AMZN,LNKD,FB,CMG,MA,

ZNGA,SNDK,SBUX,AEM,APKT,

CSIQ,TSL,TCK.....

BLOG does NOT give buy or sell.

Saleem

Indices closed green......NICE !!!!

Indices closed  UP from .26% to .63%

S&P 500 closed @ 1319.99

RSI @ 46.88

Internals were :

UP volume led by 1.89 to 1 in NYSE & 1.57 to 1 in Nasdaq

Advancing stocks led by 1.77 to 1 in NYSE & 1.34 to 1 in Nasdaq

New 52 wk lows were leading by 1 in NYSE & 12 in Nasdaq

VIX closed Down 3.24% @ 19.72

Oil closed @ $79.36

Gold closed @ $1574.90

Stocks which were UP 3% or more included NTES,LEN,

KORS,LNKD,FB,VECO......

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, expectations for EU meeting is very low. Market wants to go higher & will move UP on any excuse. Any positive surprise from EU meeting will propel this market higher. Stay with your OWN conviction & game plan, odds are in favor of a move UP.

BLOG does NOT give buy or sell.

Saleem

Indices green......NICE !!!!

Indices are green after early hesitation.

Indices are UP .25% to .51%

S&P 500 low today was 1310.30, higher low than yesterday.

Currently S&P 500 @ 1320.00

RSI @ 46.44

Internals are positive.

VIX Down 2.94% @ 19.78

Oil Down 30 cents

Gold Down $14.70

Canadian $ UP 42 tick @ 97.58

Portfolio is COH,LVS,LEN,NTES,JCP

Most stocks are UP

@ 2.03 following are down :

LULU,BIDU,AAPL,AUY,GG,LRCX,

SLW,AEM,APKT,SINA,ECA,TSL.....

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.09% to 1.94%......

Indices are following a predictable pattern of, one day down then up & then down again , all in triple digits.

S&P 500 closed @ 1313.72, low was 1309.27

RSI @ 44.78

Internals were :

Down volume led by 8.28 to 1 in NYSE & 7.51 to 1 in Nasdaq

Declining stocks led by 3.39 to 1 in NYSE & 3.07 to 1 in Nasdaq

New 52 wk lows were leading, 91 in NYSE & 74 in Nasdaq

VIX closed UP 12.53% @ 20.38

Oil @ $79.21

Gold @ $1588.40

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, IBD is changing their outlook tonight to "market in correction". S&P 500 is hovering around current level since May 21, 2012 & also same level on Jan 19, 2012, also same level in Feb 4, 2011. For all intense & purpose we are going nowhere fast for the last 18 months.We are stuck in a trading range as issues are not being resolved decisively only piecemeal approach. Once we deal with EU debt, then only, we are going to say goodbye to this trading range. In the meantime energy should be diverted to sticking to a game plan.....as this shall pass also. In case you are wondering, we are near bottom of this trading range.

BLOG does NOT give buy or sell.

Saleem

Indices down 1.19% to 1.92% on same old issues.....

Indices are down on European debt issues.

S&P 500 low today so far is 1309.27, currently @ 1314.30.

RSI @ 44.63

Internals are negative by minimum 3 to 1

New 52 wk lows are leading

Oil down 62 cents

Gold UP $20.20

Canadian $ Down 44 tick @ 97.17

VIX jumped 14.80% @ 20.79

Portfolio is COH,LVS,LEN,NTES,JCP

Most stocks are down

@ 2.08 following are green :

LEN,AUY,GG,MOS,AEM,AGU.....

BLOG does NOT give buy or sell.

Saleem

Market @ crossroad......

Market has been dealing with too many negatives for many months.

- First major negative has been slowing world economy.

- Second was ongoing European debt mess.

On the first account, there IS consensus now, that indeed China, Europe, US, India & Brazil has shown pronounced weakness in their economy. Most economists were expecting gradual slowdown, but reality has been fast & steep downtrend all over.

On European debt issue, there is consensus developing, that Greece needs to be given "reasonable amount of years" to bring austerity into play. This will ensure some growth while austerity takes hold.

EU, ECB, IMF all are in-tune with "more to be done" to stabilize Greece & Spain......the pace of resolution / bailout will pick up as we go forward.

In a way we are @ crossroad....

Economic statistics will continue to be downbeat until Fall......

Market IS trying to digest all of the above, but its NOT an easy task.....

Market will swing between HOPE & DISAPPOINTMENT on a weekly basis.

Currently market is leaning towards HOPE, which is why we have NOT made any recent lows.

Based on this HOPE factor, we may see gradual move to 1363.46 first & then IF we get some resolution in EU to 1392.76 area in S&P 500.....

One must NOT get carried away with any hopeful sign in EU.

Worldwide economy IS the-deciding factor in establishing any trading range......based on what the market is telling us, the range seems to be in 1266 to 1392 area +- 30.......

Strongly suggest, aggressive buying around 1290 area & booking profit around 1390 area......which MAY keep repeating until Q4........

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .53% to 1.17% .....NICE !!!!

Indices rebounded after all the bad news was digested, on free fall Thursday.

Indices closed near high of the day.

S&P 500 closed @ 1335.02, high was 1337.82

RSI @ 51.16

Internals were :

UP volume led by 2.07 to 1 in NYSE & 2.43 to 1 in Nasdaq

Advancing stocks led by 2.20 to 1 in NYSE & 2.37 to 1 in Nasdaq

New 52 wk highs were leading, 41 in NYSE & 62 in Nasdaq

VIX tumbled 9.81% @ 18.11

Oil closed @ $79.76

Gold closed @ $1566.90

Canadian $ Closed @ 97.61

Portfolio is COH,LVS,LEN,NTES,JCP

Here is my portfolio weighting as of tonight :

NTES 33.83%

COH 29.03%

LEN 15.37% 

LVS 13.74%

JCP 8.03%

Exposure 119%

Stocks which were UP 1% or more included LEN,

KORS,LULU,CMG,PCLN,LNKD,SU,BIDU,

GOOG,MA,V,ZNGA,MU,BRCM, VECO,

JDSU,CIEN,SNDK,NAV,FB......

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed near lows of the day.......

Indices were hit with so many negative data & impending banks downgrades, that it was inevitable to escape what happened today.


@ close indices took it on the chin on higher volume, down 1.96% to 2.44%.


S&P 500 closed @ 1325.51, low was 1324.41.


RSI @ 48.09


50 DMA is 1345.98


Internals were :


Down volume led by 14.75 to 1 in NYSE & 7.78 to 1 in Nasdaq


Declining stocks led by 4.32 to 1 in NYSE & 3.84 to 1 in Nasdaq


New 52 wk highs were leading by 19 in NYSE & new 52 wk lows were leading by 6 in Nasdaq


VIX jumped 16.47% @ 20.08


Oil @ $78.20


Gold @ $1565.50


AH Futures UP


AH Asian Markets Down


AH Oil UP


AH Gold Down


About market, indices looked vulnerable to me after close on Tuesday, which prompted me to book profit in LNKD. It IS important to book profit after "major runup". IBD has changed its market outlook to "market under pressure". I personally believe that "slower worldwide growth is a given". We were overbought & GS added "fuel to data fire" by suggesting "shorting the market" with 1290 target. I do not think we are set to go there, after today's massive selling. An oversold bounce is in the card.


BLOG does NOT give buy or sell.


Saleem

Indices down from 1.48% to 1.86% on worldwide weak data.....

Europe, China & US manufacturing activity showed renewed weakness.


Indices are @ lows of the session....


S&P 500 low today is 1332.49, currently @ 1332.69


RSI @ 50.38


Internals are negative by 3 to 1


Oil Down $2.52


Gold Down $50.00


Canadian $ Down 68 tick @ 97.43


VIX UP 11.95% @ 19.30


Portfolio is COH,LVS,LEN,NTES,JCP


Most of the stocks are down


Based on the reaction to negative data, today many stocks may reach support.


Good time to add on weakness.


BLOG does NOT give buy or sell.


Saleem

Indices closed mixed on Fed decision........

Indices closed mixed, with Nasdaq barely green.

Fed decision to continue with Twist, was met with selling.

S&P 500 closed @ 1355.69

RSI 59.01

Internals were mixed.

New 52 wk highs were leading, 86 in NYSE & 77 in Nasdaq

VIX tumbled again, down 6.20% @ 17.24

Oil @ $81.90

Gold @ $1615.80

In my portfolio :

Bought NTES @ $62.60

Portfolio is COH,LVS,LEN,NTES,JCP.....

Stocks which were UP 1% or more included JCP,

KORS,CLF,V,LRCX,VECO,JDSU,FNSR,C....

AH ER :

MU Down 1.47%

RHT Down 9.47%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, based on how VIX is falling apart daily & especially today when indices were flat, it is telling me that market wants to go higher. Even when Fed did not cause a rally, market did not go into a tailspin. Jimmy the Cramer call for selling Technology stocks, is the-most absurd call he has ever made. After Q2 ER tech companies give stronger guidance for Q3, based on back to school business.

BLOG does NOT give buy or sell.

Saleem

Indices mixed after Fed decision.....

Ben Bernanke played the expected card of extending the Twist operation to the tune of $267 Billion.

First we extended the downward pressure then UP & now neutral in indices.

Internals are mixed.

Oil Down $2.40

Gold Down $8.20

Canadian $ Down 9 tick @ 98.16

VIX Down 1.63% @ 18.08

In my portfolio :

Sold LNKD

Portfolio is COH,LVS,LEN,JCP

Most stocks are UP

@ 2.00 following are down :

NTES,PCLN,BIDU,M,GOOG,AAPL,AMZN,

NAV,BWLD,EXPE,AUY,GG,SU,SINA,ECA....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .75% to 1.19%......NICE !!!!

All indices are above 50 DMA on above average volume.

S&P 500 closed @ 1357.98, high today was 1363.46.

RSI @ 59.97

Internals were :

UP volume led by 5.32 to 1 in NYSE & 5.73 to 1 in Nasdaq

Advancing stocks led by 5.19 to 1 in NYSE & 3.29 to 1 in Nasdaq

New 52 wk highs were leading, 136 in NYSE & 106 in Nasdaq

VIX closed UP .33% @ 18.38

Oil @ $84.03

Gold @ $1623.20

Stocks which were UP 2% or more included LVS,

KORS,LULU,CLF,TCK,SU,NTES,ZNGA,MU,

VECO,C,FCX,NAV.......

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, in June alone, which is 19 days old or 13 trading day's only, S&P 500 has gone UP 96.72 points or 7.6% @ high of today. The question i am facing, are we overbought & need a pause / pullback @ this stage or not? the answer to this question nobody knows. I will be tempted to reduce my exposure before Fed statement. This will be a "safe than sorry approach".......

BLOG does NOT give buy or sell.

Saleem

Indices making higher highs...NICE !!!!

All indices are above 50 DMA, this is a major technical victory.

Indices are UP 1.10% to 1.44%.....

Internals are positive by minimum 3 to 1

Oil UP 80 cents

Gold Down $5.20

Canadian $ UP 63 tick @ 98.33

VIX Down 1.86% @ 17.98

Portfolio is COH,LVS,LEN,LNKD,JCP

Most stocks are UP

@ 2.21 following are red :

JCP,BIDU,GG,EXPE,EGO.....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed ........

Today's trading was interesting, mixed with good news & not so good news.


Good news was victory of right wing party in Greece election, not so good news was, higher than 7% yield on Spanish bonds.


So.... indices started down in that cross-current, but many buyers were waiting for an entry into this market.


S&P 500 & Nasdaq closed green, while Dow was down.


S&P 500 high was 1348.22, closing @ 1344.78


RSI @ 56.15


Internals were mixed


52 wk highs were leading, 89 in NYSE & 74 in Nasdaq


Oil @ $83.27


Gold @ $1627.00


VIX tumbled 13.22% @ 18.32, as Greece premium came out immediately.


Stocks which were UP 2% or more included LNKD,LEN,
FB,CMG,PCLN,AAPL,AUY,ZNGA,JDSU,FNSR.....


AH ER ORCL UP 3.47%


AH Futures UP


AH Asian Markets Mixed


AH Oil Down


AH Gold UP


About market, as the whole world is waiting on Fed to announce QE3, market may drift on Tuesday. All indices are maintaining green CMF & are getting close to 50 DMA, S&P 500 actually went above 50 DMA of 1347.39. IF this technical strength continues & builds on Tuesday we MAY end higher.


BLOG does NOT give buy or sell.


Saleem

S&P 500 making higher highs....NICE !!!!

So..... there was Greece election & there was Spanish bond yielding 7.16%...but market IS marching on its own drum IGNORING bearish drum roll which lasted only 15 mts @ open.....


S&P 500 high so far is 1346.59 currently @ 1345.33


RSI @ 56.20


Internals are positive


Oil Down 74 cents


Gold Down $1.90


Canadian $ Down 39 tick @ 97.50


VIX Down 10.09%@ 18.98


Portfolio includes COH,LVS,LEN,LNKD,JCP


Most stocks are UP


@ 1.55 following are red :


COH,JCP,CLF,NAV,X,BJRI,GS,KOG,IBN....


BLOG does NOT give buy or sell.


Saleem

Greece election seems deadlocked, Central Banks ready to pump liquidity....

Based on current exit polls, Greeks are deadlocked again with right & left both capturing similar % of seats & votes.


Third party may hold balance of power. It seems that some sort of re-negotiation with EU may break stalemate.


Last option is another election next month, IF no government is formed.


Market TAPE is telling us that Greece issue will be contained in the end.


By June 15 we have moved UP by 76.10 points or 6% in 11 trading days. We had gone down to 1266.74 on Euro worries, BUT we have snapped UP sharply since.


- Market have been comfortable because World Central Banks are READY to deal with any issues, be it Greece, Spain or whatever.
- G20 is meeting on Monday to voice their support to deal with any election gyrations.
- US Fed is also meeting this week to say anything which will boost confidence.


It is interesting to note that TAPE has been strong, when consumer sentiment has been below expectations & most US economic reports were weak.


Bearish sentiment is prevailing, while we are rallying, short interest @ 2012 high, these conditions creates "major market bottom"


Last but not the least, IBD is saying that "MARKET IN CONFIRMED UPTREND"...they have been very accurate in reading market tea leaves lately......


As we all are either investors or traders, we should follow our own game plan & NOT assume any other role in that process. Based on my experience & monitoring of history "when doom & gloom is @ its PEAK"...that is when market turns UP in a hurry...that is when i am MOST confident in my exposure...such is the case NOW.......


BLOG does NOT give buy or sell.


Saleem

Indices closed @ highest level in a month....NICE !!!!

Indices closed near  high of the day .

CMF in all indices are green after a gap of six weeks.

S&P 500 closed @ 1342.84

RSI @ 55.58

Internals were positive by 2 to 1

New 52 wk highs are leading.

VIX closed Down 2.63% @ 21.11

In my portfolio :

Added 50% LVS @ $44.97

Portfolio is COH,LVS,LEN,LNKD,JCP

Here is my portfolio weighting as of tonight :

COH 31.62%

LNKD 28.10%

LEN 16.06%

LVS 14.78%

JCP 9.44%

Exposure 110%

Stocks which were UP 1% or more included 
COH, LEN,LNKD,JCP,

KORS,LULU,BIDU,CLF,FCX,
TCK,CMG,PCLN,AMZN,

FB,NAV,SU,NTES,MA,V,
ZNGA,LRCX,MU,BRCM,

VECO,JDSU,CIEN,SNDK......

Next post by 2 PM Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed up .63% to 1.24%. NICE!!!!

Market rocketed UP in the last hour on heavier volume. Reason was intervention by central banker IF Greece result is going to cause market disruptions.

S&P500 closed@ 1329.10

Internals were

UP volume. Led by 3.94 to 1 in NYSE...1.83 to 1 in. Nasdaq

Advancing stocks led by 2.36 to 1 in NYSE...2.35 to. 1 in Nasdaq

Oil closed @ $83.91

Gold closed @ $1619.60

VIX closed @ 21.68, down 10.67%

Stocks which. Were. UP 2% or. More included LNKD,JCP,LEN,

M,FB,NAV,MARCH,CIEN...

AH FUTURE UP

AH Asian markets UP

AH Oil & Gold UP

About market, Friday is Option Expiry,which may put downward pressure. Anticipation of Greeks election on weekend will add to uncertainty.

BLOG does NOT give buy or sell

Saleem

PS....my desktop computer is not working, writing from PlayBook......

Indices UP .45% to .93%......NICE !!!!

Indices are ignoring every negative news which is out there, as IF it does not exist. Such is the power of black boxes, they set direction of indices.

S&P 500 trading near highs of 1327.44, currently @ 1325.47

RSI @ 50.29

Internals are positive.

Oil UP 84 cents

Gold UP10 cents

Canadian $ UP 38 tick @ 97.52

VIX Down .87% @ 24.06, this is NOT a good indicator for bulls ?

Portfolio is COH,LVS,LEN,LNKD,JCP

Most stocks are UP

@ 2.04 following are down :

COH,KORS,LULU,APKT,PCLN,GOOG,
AAPL,AMZN,GG,LRCX,MU,VECO,
SNDK,GMCR,EXPE,MOS,AEM,MGA,
TSL,WYNN,IBN.....

BLOG does NOT give buy or sell.

Saleem

Indices closed down .62% to .86%......

Indices closed down in low volume, as Italy is taking centre stage for Thursday.

S&P 500 closed @ 1314.88, low was 1310.51.

RSI 46.48

Internals were :

Down volume led by 2.81 to 1 in NYSE & 2.69 to 1 in Nasdaq

Declining stocks led by 2.15 to 1 in NYSE & 2.29 to 1 in Nasdaq

New 52 wk low led by 5 in NYSE & 29 in Nasdaq

VIX UP 9.87% @ 24.27

Oil @ $82.62

Gold @ $1619.40

Stocks which ended green included LNKD,
TCK,GG,AUY,ZNGA,CIEN,C,SNDK...

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, i am expecting Italian auction to go well, thus a strong close. I believe that Monday & Wednesday's slump was Option expiry related. Volume is drying up, which means black boxes are deciding direction of  this market. Yes..it is extremely tough, but pursue a game plan which suits your comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices are green......

Indices entered green, after reacting to poor Retail & Auto sales. Indices were down @ open.

S&P 500 @ 1325.00, high 1327.28, low 1315.26

RSI 49.72

Internals are positive

Oil Down 32 cents

Gold UP $2.50

Canadian $ Down 2 tick @ 97.43

VIX UP 5.39% @ 23.28

In my portfolio :

Added 60% LVS @ $45.60

Portfolio is COH,LVS,LEN,LNKD,JCP

Most stocks are UP

@ 1.30 following are down :

COH,LEN,KORS,TIF,LULU,M,APKT,CLF,
CMG,GOOG,NTES,MA,V,LRCX,EXPE,MOS,
SBUX,SLW,TSL,BJRI.....

BLOG does NOT give buy or sell.

Saleem

Indices closed near high of the day.....NICE !!!!

S&P 500 & Nasdaq closed just fractions below high of the day, while Dow close was near high of the day.

Indices closed UP 1.17% to 1.31%.

S&P 500 high was 1324.31, closed @ 1324.18

RSI @ 49.50

Internals were :

UP volume led by 6.09 to 1 in NYSE & 4.47 to 1 in Nasdaq

Advancing stocks led by 3.57 to 1 in NYSE & 2.24 to 1 in Nasdaq

New 52 wk LOWS were leading by 18 in NYSE & 15 in Nasdaq

VIX Down 6.24% @ 22.09

Oil @ $83.32

Gold @ $1613.80

Stocks which were UP 1% or more included LVS,
KORS,M,LULU,CLF,TCK,GG,AUY,SU,MU,
BRCM,VECO,JDSU,CIEN,FNSR,C,SNDK.......

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, why we went down yesterday did not make sense & why we went up today does not make sense either, it was same news flow for two days. TAPE is behaving in a very erratic manner not based on fundamental or technical, it IS BLACK BOX driven. India's economic report was terrible gain, industrial output was up only .1% vs expectations of 2%, that economy is hurtling down FAST?. On the positive side, CMF in all indices are getting close to green. Focus more on your stock selections, than DAILY direction of this market. IF history is our guide then Wednesday should be lower?

BLOG does NOT give buy or sell.

Saleem

Indices UP .60% to .81%....NICE !!!!

Indices are UP due to oversold conditions.

S&P 500 high so far is 1320.75, currently 1317.44

RSI 47.11

Internals are positive by almost 2 to 1

Oil UP 46 cents

Gold UP $16.60

Canadian $ UP 47 tick @ 97.36

VIX Down 2.29% @ 23.02

Portfolio is COH,LVS,LEN,LNKD,JCP

Most stocks are UP

@ 2.14 following are down :

COH,LEN,LNKD,JCP,NAV,CMG, GOOG,
PCLN,BIDU,NTES,V,ZNGA,GMCR,BWLD,
SBUX,STLD,BJRI,KOG.......

BLOG does NOT give buy or sell.

Saleem

Indices closed near lows of the day......

Indices were under selling pressure right after open. It was a "sell the news" approach.

Indices closed down 1.14% to 1.70%.

S&P 500 low was 1307.72, closing @ 1308.93.

RSI @ 43.96

Internals were :

Down volume led by 10.68 to 1 in NYSE & 8.46 to 1 in Nasdaq

Declining stocks led by 3.88 to 1 in NYSE & 3.27 to 1 in Nasdaq

New 52 wk highs were in the lead, 74 in NYSE & 55 in Nasdaq

VIX closed UP 10.98% @ 23.56

Oil closed @ $82.70

Gold closed @ $1596.80

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, today was a major disappointment. Option Expiry on Friday played a major role today in closing open interest bearish bets. I am sure it took billions to accomplish this. When big players were positioned to lose billions, then they put few more billions to make their bearish trade to work. Volume was light, which proves super-computers were controlling direction. All sectors were RED today? I think, we gradually build from here again as bearish bets are out of the way. Ironically, today we had more new 52 wk highs?

BLOG does NOT give buy or sell.

Saleem

Indices under selling pressure.......

Indices were met with selling pressure, open was strong but petered out quickly.

Currently indices are down .41% to .74%.

S&P 500 high was 1335.52, low 1319.50, currently 1319.50.

Internals are negative.

52 wk highs are still in the lead.

Oil Down 51 cents

Gold UP $7.20

Canadian $ Down 27 tick @ 97.13

VIX UP 3.44% @ 21.96

Portfolio is COH,LVS,LEN,LNKD,JCP

Most stocks are down

@ 2.00 following are green :

KORS,BIDU,PCLN,AAPL,AMZN,NAV,FB,
MA,V,EXPE,NVDA,EGO,YGE,CSIQ.....

BLOG does NOT give buy or sell.

Saleem

Spain gets $125 billion, shorts are in "deep trouble"....

-Spain gets $125 billion for banks, which was @ the high end of expectations.

-Chinese Data did NOT print any new lows in economic activity. Chinese stat has the earmark of a "trough"...

-Puts in S&P 500 "extremely high"

-Weekly & Monthly Option Expiry this Friday

All of the above should create " the-biggest RUNUP" in a while.....

Shorts are in deep TRAUMA & will cover @ open & go long.....

Cannot recall except @ QE1, that market has so many positive FIREWORKS....

With Spain out of "crisis headlines", shorts are stuck with no "panic news flow to CNBC"

S&P 500 should take out 50 DMA @ 1356.92 by Tuesday of this week....

By Friday, there is a very good chance of looking @ 1400 area......

SO...a 75 S&P 500 points or 5.7% move in a week , could be the-fastest sprint......

YES...it is OK to be @ above average exposure on Monday.......

Again, biggest gains will be in strong stocks........

This week may give "confidence to sideline money" who are hiding in US Treasury / Bonds.

All I can say "fasten your seat belt".....we are gaining altitude in a hurry.

BLOG does NOT give buy or sell.

Saleem

Impressive close today......

Indices closed near high of the day, on optimism about Spain Banking resolution.

S&P 500 high was 1325.81, closed @ 1325.66....

RSI 49.49

Internals were :

UP volume led by 2.56 to 1 in NYSE & 3.86 to 1 in Nasdaq

Advancing stocks led by 2.31 to 1 in NYSE & 1.94 to 1 in Nasdaq

New 52 wk highs were leading, 64 in NYSE & 34 in Nasdaq

VIX closed Down 2.26% @ 21.23

Oil @ $84.10

Gold @ $1591.40

Canadian $ @ 97.41

Stocks which were UP 1% or more included COH,LEN,LNKD,JCP,
KORS,M,LULU,PCLN,
AAPL,FB,AUY,NAV,
MU,VECO,JDSU,
CIEN,C.....

Portfolio is COH,LVS,LEN,LNKD,JCP

Here is my weighting as of tonight :

COH 35.96%

LNKD 28.85%

LEN 17.90%

JCP 10.37%

LVS 6.92%

Exposure 100%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed near lows of the day......

Indices had lot going for it, China cut lending & deposit rates by .25%, Ben Bernanke repeated his commitment to assist US economy IF needed, but all this bullish moves added up to zilch by close.

Indices closed mixed.

S&P 500 high today was 1329.05, closing @ 1314.99

RSI @ 45.43

Internals were :

Down volume led by 1.24 to 1 in NYSE  & 3.07 to 1 in Nasdaq

Declining stocks led by 1.16 to 1 in NYSE & 1.42 to 1 in Nasdaq

New 52 wk highs were leading, 67 in NYSE & 40 in Nasdaq

VIX closed Down 1.99% @ 21.72

Oil closed @ $84.82

Gold closed @ $1588.00

Stocks which were UP 1% or more included LNKD,
BIDU,CIEN,SINA,MGA,CSIQ,KOG,AGU....

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was extremely disappointing today.Close & internals were to the downside. There were some bright spot, like VIX stayed down & New 52 wk highs were in the lead. There is great concern for Saturday's economic reports from China. Chinese data has been weak for last seven months & it will not be any different on Saturday. Rate cut by China is meant to push for growth.

BLOG does NOT give buy or sell

Saleem

China .25% rate cut gives market another reason to rally......

China surprised everyone by .25% rate cut, to give boost to their weakening economy.

Ben Bernanke stayed the course with same old line, which was not received well by traders.

Indices gave up euphoric gain to struggling gain.....UP .19% to .88%

S&P 500 high today was 1329.05, currently @ 1322.69

Internals are positive.

New 52 wk highs maintaining lead.

Oil Up 1 cent

Gold Down $45.40

Canadian $ UP 30 tick @ 97.60

VIX Down 3.97% @ 21.28

In my portfolio :

Added 110% LEN @ $26.56

Portfolio is COH,LVS,LEN,LNKD,JCP

Exposure 100%

Most stocks are UP

@ 2.13 following are down :

COH,JCP,KORS,M,LULU,TIF,APKT,
CMG,PCLN,GOOG,FB,AUY,GG,LRCX,
VECO,BWLD,EXPE,NVDA,SLW,EGO,
AEM,ECA,WYNN,GS.....

BLOG does NOT give buy or sell.

Saleem