Indices made new lower lows, then stabilized.
S&P 500 went to 1266.74, but closed near high of the day @ 1278.18.
Nasdaq & S&P 500 closed green, while Dow was red.
Internals were :
Down volume led by 1.71 to 1 in NYSE & .81 to 1 in Nasdaq
Declining stocks led by 1.36 to 1 in NYSE & 1.00 to 1 in Nasdaq
New 52 wk lows were in the lead, 151 in NYSE & 128 in Nasdaq
VIX closed Down 2.03% @ 26.12
Oil closed @ $83.98
Gold closed @ $1613.90
Stocks which were UP included COH,
TIF,BIDU,FCX,PCLN,GOOG,AAPL,
AMZN,AUY,GG,STLD,MA,V,SNDK.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, there is so much pessimism that, market has nowhere to go but UP from here. Super Euphoric Jimmy The Cramer is analyzing how low we can go, his conclusion another 10%. I think we MAY have seen the low for this correction today.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Unless we get further breakdown from here, I think the S&P could easily jump back over the 200 DMA and catch all the shorts/uninvested offguard. I liked the action today--we'll see what tomorrow brings, but I feel good about it at this time also.
Stocktrader
SALEEM
Hello
About market, there is so much pessimism that, market has nowhere to go but UP from here. Super Euphoric Jimmy The Cramer is analyzing how low we can go, his conclusion another 10%. I think we MAY have seen the low for this correction today.
J Cramer the SHRILL is so darn pesimestic that I cried last night
to think we could go down 10% more
how awful---thank goodness that to do the opposite of his suggestion
usually works!--Up we go--I hope
VBTA
C
Hi Stocktrader & C,
I think we are on the right side of trade.....
all this pessimism is good for a solid move UP...
Good luck to us!!!!
Saleem
Hey Saleem,
I've got one portfolio position left to allocate. I'm considering QCOM because of all the cutting edge devices to which it supplies chips.
Stocktrader
Hey Saleem,
I did pick it up @ 56.30. I am fully allocated to stocks again.
Stocktrader
Hi Stocktrader,
Good luck with QCOM.....
Saleem
SALEEM
Bought and sold some SFL
made some dinner money
ha ha :)
Market seems to want to go up
C
Hi C,
I was very concerned that you took JC stupid analysis to affect you...
Always ignore NOISE & JC is the-biggest....
Excellent trade on SFL......
Saleem
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