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
SALEEM
ReplyDeleteSupport is here IMHO! My thinks....
SFL and SDRL both dropped a lot
SFL hit $14.60 that is usually it;s bottom--on sale
my only green is M REITS
Hurray
Hi C,
ReplyDeleteI am glad you have green, i am batting big fat 0.....
Saleem
Hey Saleem,
ReplyDeleteWe've come so far so fast in one day that it makes me feel like buying already again. I'll try to be smart about repurchases, but I might even buy something back today.
Stocktrader
Hi Stocktrader,
ReplyDeleteYES...this selling is pretty intense....
Good luck with your picks.
Saleem
SALEEM
ReplyDeleteMake me laugh
Selling intense
wow
lots of selling
Yeks
Hey Saleem,
ReplyDeleteI couldn't get myself to buy anything because everything I liked a lot I didn't sell initially.
Although the futures will likely pop after this bank news comes out (sell the rumor, buy the news), and JPM is probably a really nice trade here, I'll do better thinking tonight and create some ideas for possibly tomorrow morning.
Waiting for the AH news...
Stocktrader
Hi Stocktrader,
ReplyDeleteYou were absolutely correct in "buy the news " reaction...so far every bank i checked is UP including MS...
Saleem
Hi C,
ReplyDeleteThis is what i call "intense opportunity"
Saleem