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
BLOG does NOT give buy or sell
Saleem
PS....my desktop computer is not working, writing from PlayBook......
12 comments:
Hey Saleem,
I was looking at some charts last night. I think the S&P needs to retest ~1295 before a sustained move higher. This would form the right shoulder of a reverse head-and-shoulders pattern (bullish formation) and also be a close test of the 200 DMA which is rising currently. Obviously, it doesn't have to happen like that, but it definitely puts me in a more defensive mindset, even today.
Stocktrader
Hi Stocktrader,
My desktop is not working after MSFT
Updated WIN7 & restarted my PC...it is a pain to work with PlayBook since 6PM last evening..
Saleem
Hey Saleem,
Ouch! I hope you get your computer working! :)
Also, I think ACI is very interesting here--in fact, I'd probably buy some if I wasn't full.
Stocktrader
Hey Saleem,
I've been doing some selling this morning. I sold LEN @ 25.65, WWWW @ 16.98, and APKT @ 20.86.
I may consider reducing exposure more, but it gets harder to sell some of my special stories from here...
Stocktrader
Hey Saleem,
Sold QCOM @ 56.28 also. I don't know if I'll be able to sell any more. The rest of the stories are too good.
Stocktrader
Hi Stocktrader,
Now i am back in business, desktop is working.
Microsoft in updating windows 7 @ 6PM corrupted my internet explorer.
Just installed Firefox 8.0..it works like a charm......
I saw that you have reduced your exposure.
Comfort level is important....
Saleem
Hey Saleem,
Sold PMTC @ 19.47 earlier today also. Wow, what a reversal I missed. I am very confused by how this stock trades, and I don't have a great handicap on what the quarter might be. I guess I'll watch it for a while.
I also tried to sell some PFPT at 14.60 and 14.50, but even 1000 share orders were only filling 200 shares and then the stock would drop, so I guess I'll be holding unless the stock rises to my waiting orders.
Stocktrader
Hi Stocktrader,
We all have faced this "turnaround" over & over.....as IF fate WAITS for us to sell?
Saleem
Hey Saleem,
Sold the CMI also at 94.17. I'll revisit this closer to earnings because I like the name, but the sluggishness in the world economies seems to be weighing on it.
Stocktrader
Hi Stocktrader,
Good luck with your overall approach & strategy.
Saleem
Hey Saleem,
I did manage to sell that PFPT as the market rallied into close. I'm just under 50% exposure now. I feel much more comfortable :).
Stocktrader
Hi Stocktrader,
I am glad your comfort level is where it should be.
Saleem
Post a Comment