Monday, June 4, 2012

Market held UP pretty good, despite ongoing negativity.........

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
at

8 comments:

  1. stocktrader_1996June 4, 2012 at 7:32 PM

    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

    ReplyDelete
  2. cJune 5, 2012 at 4:51 AM

    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

    ReplyDelete
  3. Stocks100June 5, 2012 at 6:48 AM

    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

    ReplyDelete
  4. stocktrader_1996June 5, 2012 at 6:49 AM

    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

    ReplyDelete
  5. stocktrader_1996June 5, 2012 at 6:52 AM

    Hey Saleem,

    I did pick it up @ 56.30. I am fully allocated to stocks again.

    Stocktrader

    ReplyDelete
  6. Stocks100June 5, 2012 at 6:58 AM

    Hi Stocktrader,

    Good luck with QCOM.....

    Saleem

    ReplyDelete
  7. cJune 5, 2012 at 7:57 AM

    SALEEM

    Bought and sold some SFL
    made some dinner money

    ha ha :)

    Market seems to want to go up
    C

    ReplyDelete
  8. Stocks100June 5, 2012 at 8:11 AM

    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

    ReplyDelete