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.
6 comments:
SLAEEM
A GOOD CALL be conservative for goodness sake! Preserve capital what does BB do?? Dunno
Here isa n article on AG's playsAgriculture may be a boring sector to invest in given the buzz surrounding technology and financials, but it is meaningfully undervalued right now. Over the last three months, basic material firms Potash (POT) and Mosaic (MOS) lost a respective 15.9% and 13.6% of their value while similar, although not peer, food processor Archer Daniels Midland (ADM) lost just 1.1%. I find that this loss in shareholder value was overblown for Potash and Mosaic. read more »
LINK:http://seekingalpha.com/article/574541-a-little-potash-in-your-portfolio-not-a-bad-idea?source=email_rt_article_focus&ifp=0
I like the ag plays
Very very best to all
Hi C,
It is important to monitor euphoria & overbought conditions.
There are many sectors that are beaten down big time..AG is one of them...
Saleem
SALEEM
Wise words to invest by
C
Hi C,
Sold LNKD $105.50.....
Saleem
WOW
A handsome profit
Yahooo yipee
What to buy now
lots on sale
C
Hi C,
Almost $8 per share overall profit.....needed that boost.
I am looking @ PCLN or CMG...depending on what Fed says...
Fed decision out @ 1230 PM....38 mts from now....
Saleem
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