Indices closed near lows of the day.
S&P 500 closed @ 1379.32
RSI 58.69
Internals were :
Down volume led by 2.00 to 1 in NYSE & 1.49 to 1 in Nasdaq
Declining stocks led by 1.43 to 1 in NYSE & 1.48 to 1 in Nasdaq
New 52 wk highs were leading in NYSE 163 & 49 even with lows in Nasdaq
VIX closed UP 4.99% @ 18.93
Oil closed @ $88.06
Gold closed @ $1610.50
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, it is all about Fed policy statement. I am expecting a language change to reflect continued easing beyond 2014. This should satisfy bullish sentiment. Many traders are reading too much in day to day TAPE. Focus should be on the overall direction of the market, NOT what it will do next day. Based on many data including consumer confidence & Chicago PMI all showing the best reading in 4 & 3 months.Trough has reached in US economic picture.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 31, 2012
Indices +.09% to <.17%>......
Indices are mixed, as market is waiting for Fed statement.
Germany issuing a contradictory statement from ECB.
S&P 500 @ 1383.24
Internals are negative.
Oil Down $1.94
Gold Down $7.00
Canadian $ Down 3 tick @ 99.78, Canadian GDP was slightly less than expected +.1% vs expectations of +.2% for May...
VIX UP 3.72% @ 18.70
Portfolio is BIDU,LVS,LEN,NTES,JCP,TCK,AUY
Most stocks are down
COH earning was a miss & guiding lower, Down 18.03%
@ 2.11 following are UP :
JCP,AAPL,GOOG,CMG,CLF,LNG,
LRCX,MU,BRCM,FNSR,SNDK,
EXPE,NVDA,MOS,X,STLD,
APKT,ECA,MGA,PANW,
GS,SNE....
BLOG does NOT give buy or sell.
Saleem
Germany issuing a contradictory statement from ECB.
S&P 500 @ 1383.24
Internals are negative.
Oil Down $1.94
Gold Down $7.00
Canadian $ Down 3 tick @ 99.78, Canadian GDP was slightly less than expected +.1% vs expectations of +.2% for May...
VIX UP 3.72% @ 18.70
Portfolio is BIDU,LVS,LEN,NTES,JCP,TCK,AUY
Most stocks are down
COH earning was a miss & guiding lower, Down 18.03%
@ 2.11 following are UP :
JCP,AAPL,GOOG,CMG,CLF,LNG,
LRCX,MU,BRCM,FNSR,SNDK,
EXPE,NVDA,MOS,X,STLD,
APKT,ECA,MGA,PANW,
GS,SNE....
BLOG does NOT give buy or sell.
Saleem
Monday, July 30, 2012
Indices closed down .05% to .41%......
Indices were in a narrow trading range, waiting for next move by Fed & ECB.
S&P 500 closed @ 1385.30
RSI 61.20
Internals were :
Down volume led by .93 to 1 in NYSE & 2.16 to 1 in Nasdaq
Declining Stocks led by 1.03 to 1 in NYSE & 1.83 to 1 in Nasdaq
New 52 wk highs were leading, 165 in NYSE & 63 in nasdaq
VIX closed UP 7.96% @ 18.03
Oil closed @ $89.78
Gold closed @ $1618.70
AH ER :
MSTR Down 3.05%
STX Down 7.72%
DNDN Down 19.42%
HLF UP 6.00%
CRUS UP 19.50%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, many traders & Gurus are fighting this TAPE. This should propel this market "much higher faster". All major bull run starts with overwhelming disbelief. IF their rationale does not work out in "real time", then its always about volume. This TAPE has the feel of something "big". It will be wise to be part of "obvious".
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1385.30
RSI 61.20
Internals were :
Down volume led by .93 to 1 in NYSE & 2.16 to 1 in Nasdaq
Declining Stocks led by 1.03 to 1 in NYSE & 1.83 to 1 in Nasdaq
New 52 wk highs were leading, 165 in NYSE & 63 in nasdaq
VIX closed UP 7.96% @ 18.03
Oil closed @ $89.78
Gold closed @ $1618.70
AH ER :
MSTR Down 3.05%
STX Down 7.72%
DNDN Down 19.42%
HLF UP 6.00%
CRUS UP 19.50%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, many traders & Gurus are fighting this TAPE. This should propel this market "much higher faster". All major bull run starts with overwhelming disbelief. IF their rationale does not work out in "real time", then its always about volume. This TAPE has the feel of something "big". It will be wise to be part of "obvious".
BLOG does NOT give buy or sell.
Saleem
Indices down .17% to .52%......
After huge rally for two day's, indices are down .52% max.
S&P 500 @ 1383.33
Internals are negative.
Oil down 66 cents
Gold UP $3.60
Canadian $ UP 11 tick @ 99.74
VIX UP 7.13% @ 17.89
In my portfolio :
Bought LEN @ $30.10
Portfolio is BIDU,LVS,LEN,NTES,JCP,TCK,AUY
Exposure 160%
Most stocks are down
@ 2.11 following are UP :
LVS,TCK,M,FCX,AAPL,GG,LNKD,
MA,V,LRCX,CIEN,EXPE,SLW,EGO,
AEM,ECA,IBN.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1383.33
Internals are negative.
Oil down 66 cents
Gold UP $3.60
Canadian $ UP 11 tick @ 99.74
VIX UP 7.13% @ 17.89
In my portfolio :
Bought LEN @ $30.10
Portfolio is BIDU,LVS,LEN,NTES,JCP,TCK,AUY
Exposure 160%
Most stocks are down
@ 2.11 following are UP :
LVS,TCK,M,FCX,AAPL,GG,LNKD,
MA,V,LRCX,CIEN,EXPE,SLW,EGO,
AEM,ECA,IBN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, July 29, 2012
IMAGINE IF.........
I know it is hard to IMAGINE, that world's biggest economic issue MAY be on the verge of getting resolved.....
YES..... every FRUSTRATED trader & Investor knows, it is European debt crisis.
European debt crisis have PLAGUED world markets since 2008......
Since 2008 which is four years & seven months of S&P 500 going nowhere.....
Last Thursday, when most traders & investors were feeling utmost hopeless & were packing it in......came the word from Mario Draghi, President ECB, that this endless problem of Eurozone CAN be solved.
On Friday, French President & German Chancellor affirmed the same DESIRE.
So far we got ECB, France & Germany on side..........
Market TAPE CAN sometimes, ACCURATELY predict events before it happens......Thursday's & Friday's back to back major move may be more than telling.
On July 24th, S&P 500 low was 1329, in next three days or 72 hrs, S&P 500 went to 1389...a move UP of 60 S&P points or 4.3%......
On June 25th, S&P 500 was sitting @ 1309.27, after a month & two days, it ran to 1389, a gain of almost 80 points or 6.10%........
The point, i am trying to make that when investors & traders are extremely pessimistic, then it is TIME to buy aggressively, because in a very short time, a rally may emerge to give you a good gain.
It IS important to monitor technicals & sentiments... which has defined oversold & overbought extremities.
CLUES are "in the market TAPE" NOT on CNBC.
Friday's rally was extremely broadbased, which IS the-biggest indicator of good things to come.
Based on the "intensity of this rally"..it is a safe conclusion, that we are headed HIGHER.
S&P 500 new high is in "bullseye"....
1422 may be history before you know......
Stay engaged with this TAPE......it has all the hallmark of a major bull run.
BLOG does NOT give buy or sell.
Saleem
YES..... every FRUSTRATED trader & Investor knows, it is European debt crisis.
European debt crisis have PLAGUED world markets since 2008......
Since 2008 which is four years & seven months of S&P 500 going nowhere.....
Last Thursday, when most traders & investors were feeling utmost hopeless & were packing it in......came the word from Mario Draghi, President ECB, that this endless problem of Eurozone CAN be solved.
On Friday, French President & German Chancellor affirmed the same DESIRE.
So far we got ECB, France & Germany on side..........
Market TAPE CAN sometimes, ACCURATELY predict events before it happens......Thursday's & Friday's back to back major move may be more than telling.
On July 24th, S&P 500 low was 1329, in next three days or 72 hrs, S&P 500 went to 1389...a move UP of 60 S&P points or 4.3%......
On June 25th, S&P 500 was sitting @ 1309.27, after a month & two days, it ran to 1389, a gain of almost 80 points or 6.10%........
The point, i am trying to make that when investors & traders are extremely pessimistic, then it is TIME to buy aggressively, because in a very short time, a rally may emerge to give you a good gain.
It IS important to monitor technicals & sentiments... which has defined oversold & overbought extremities.
CLUES are "in the market TAPE" NOT on CNBC.
Friday's rally was extremely broadbased, which IS the-biggest indicator of good things to come.
Based on the "intensity of this rally"..it is a safe conclusion, that we are headed HIGHER.
S&P 500 new high is in "bullseye"....
1422 may be history before you know......
Stay engaged with this TAPE......it has all the hallmark of a major bull run.
BLOG does NOT give buy or sell.
Saleem
Friday, July 27, 2012
S&P 500 @ highest level since May......NICE !!!!
S&P 500 closed @ 1385.97, highest level since May when it was @ 1415.
RSI @ 61.47, highest level since April when it was @ 1422.
It was all about Mario Draghi President ECB, who is making all the right moves to deal with Eurozone issues.
US GDP was better than expected @ 1.5% growth, expectations were @ 1.2%......
Internals were :
UP volume led by 18.14 to 1 in NYSE & 4.44 to 1 in Nasdaq
Advancing stocks led by 5.02 to 1 in NYSE & 3.37 to 1 in Nasdaq
New 52 wk highs were leading AGAIN, 236 in NYSE & 89 in Nasdaq
VIX down 4.73% @ 16.70
Oil @ $89.39
Gold @ $1615.10
Canadian $ @ 99.68
In my Portfolio :
Added 50% AUY @ $15.01
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Here is my portfolio weighting :
NTES 25.58%
BIDU 16.92%
TCK 15.98%
LVS 15.59%
JCP 13.84%
AUY 12.09%
Exposure 150%
Stocks which were UP 3% or more included BIDU,JCP,TCK,
COH,LULU,PCLN,AMZN,GOOG,MA,LNG,MU,JDSU,
CIEN,FNSR,C....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
RSI @ 61.47, highest level since April when it was @ 1422.
It was all about Mario Draghi President ECB, who is making all the right moves to deal with Eurozone issues.
US GDP was better than expected @ 1.5% growth, expectations were @ 1.2%......
Internals were :
UP volume led by 18.14 to 1 in NYSE & 4.44 to 1 in Nasdaq
Advancing stocks led by 5.02 to 1 in NYSE & 3.37 to 1 in Nasdaq
New 52 wk highs were leading AGAIN, 236 in NYSE & 89 in Nasdaq
VIX down 4.73% @ 16.70
Oil @ $89.39
Gold @ $1615.10
Canadian $ @ 99.68
In my Portfolio :
Added 50% AUY @ $15.01
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Here is my portfolio weighting :
NTES 25.58%
BIDU 16.92%
TCK 15.98%
LVS 15.59%
JCP 13.84%
AUY 12.09%
Exposure 150%
Stocks which were UP 3% or more included BIDU,JCP,TCK,
COH,LULU,PCLN,AMZN,GOOG,MA,LNG,MU,JDSU,
CIEN,FNSR,C....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, July 26, 2012
Indices closed UP 1.37% to 1.67%....NICE !!!!
World markets got a huge boost from ECB President, who said enough Euro beating already. World market celebrated this "firm talk to protect Euro".
S&P 500 closed @ 1360.02
Internals were :
UP volume led by 4.23 to 1 in NYSE & 2.92 to 1 in Nasdaq
Advancing stocks led by 2.73 to 1 in NYSE & 1.95 to 1 in Nasdaq
New 52 wk highs were leading by 101 in NYSE, New 52 wk lows were leading by 32 in Nasdaq
VIX closed down 9.36% @ 17.53
Oil closed $89.39
Gold closed $1615.10
Stocks which were UP 2% or more included BIDU,TCK,AUY,
KORS,LEN,M,COH,LULU,GG,SU,MA,V,LNG,JDSU,CIEN,
FNSR,SNDK.....
AH ER :
AMZN UP .76%..it missed on Sales ,EPS & Guidance ?
SBUX Down 10.03%
FB Down 10.60%
CSTR Down 12.93%
NTGR Down 15.23%
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, when everyone is down & out on stocks, somehow they turn around. It is supremely important to keep a close eye on "oversold" & "overbought" conditions, this can be traced by looking @ 14 day RSI trendlines. By the way, IBD changed their market outlook tonight to " Market in confirmed uptrend"....
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1360.02
Internals were :
UP volume led by 4.23 to 1 in NYSE & 2.92 to 1 in Nasdaq
Advancing stocks led by 2.73 to 1 in NYSE & 1.95 to 1 in Nasdaq
New 52 wk highs were leading by 101 in NYSE, New 52 wk lows were leading by 32 in Nasdaq
VIX closed down 9.36% @ 17.53
Oil closed $89.39
Gold closed $1615.10
Stocks which were UP 2% or more included BIDU,TCK,AUY,
KORS,LEN,M,COH,LULU,GG,SU,MA,V,LNG,JDSU,CIEN,
FNSR,SNDK.....
AH ER :
AMZN UP .76%..it missed on Sales ,EPS & Guidance ?
SBUX Down 10.03%
FB Down 10.60%
CSTR Down 12.93%
NTGR Down 15.23%
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, when everyone is down & out on stocks, somehow they turn around. It is supremely important to keep a close eye on "oversold" & "overbought" conditions, this can be traced by looking @ 14 day RSI trendlines. By the way, IBD changed their market outlook tonight to " Market in confirmed uptrend"....
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.03% to 1.53%.....NICE !!!!
Indices got a huge lift from ECB President who pledged to "preserve the Euro", that created almost 6% jump in Spanish & Italian exchange.......
S&P 500 @ 1356.73
Internals are positive by 2 to 1.
Oil UP 47 cents
Gold UP $6.80
Canadian $ UP 54 tick @ 99 cents
VIX Down 6.77% @ 18.03
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Most stocks are UP
@ 2.29 following are down :
LVS,PCLN,CLF,AAPL,LNKD,FB,CMG,CTXS,
ZNGA,LRCX,BRCM,EGO,APKT,TSL,CSIQ,
WYNN.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1356.73
Internals are positive by 2 to 1.
Oil UP 47 cents
Gold UP $6.80
Canadian $ UP 54 tick @ 99 cents
VIX Down 6.77% @ 18.03
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Most stocks are UP
@ 2.29 following are down :
LVS,PCLN,CLF,AAPL,LNKD,FB,CMG,CTXS,
ZNGA,LRCX,BRCM,EGO,APKT,TSL,CSIQ,
WYNN.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, July 25, 2012
Indices closed mixed......
Indices were under pressure again, thanks to AAPL.
But by close most of the losses were erased & DOW closed UP.
S&P 500 closed @ 1337.89
RSI 45.92
Internals were :
UP volume led by .97 to 1 in NYSE & 1.35 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & 1.46 to 1 in Nasdaq
New 52 wk highs were leading by 9 in NYSE & new 52 wk lows were leading by 48 in Nasdaq
VIX closed Down 5.52% @ 19.34
Oil @ $88.97
Gold @ $1608.00 extremely bullish, that it closed above $1600 & seasonality is also kicking in.
Stocks which closed green included JCP,AUY,
GG,FB,CMG,SU,MA,BRCM,CIEN,FNSR,C....
In my portfolio :
Added 32% TCK @ $26.85
Exposure 145%
AH ER :
CTXS Down 3.85%
LVS Down 6.66%...as posted LVS ER was a miss on EPS......
ZNGA Down 38.16%
WFM UP 11.61%
WDC UP 19.49%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is trying to make a move higher, but Europe seems to be keeping a lid. Today's close was constructive considering "mother of all earning reports was a downer". I am strategically adding when possible. Once we come out on the other side, we may find much higher level.
BLOG does NOT give buy or sell.
Saleem
But by close most of the losses were erased & DOW closed UP.
S&P 500 closed @ 1337.89
RSI 45.92
Internals were :
UP volume led by .97 to 1 in NYSE & 1.35 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & 1.46 to 1 in Nasdaq
New 52 wk highs were leading by 9 in NYSE & new 52 wk lows were leading by 48 in Nasdaq
VIX closed Down 5.52% @ 19.34
Oil @ $88.97
Gold @ $1608.00 extremely bullish, that it closed above $1600 & seasonality is also kicking in.
Stocks which closed green included JCP,AUY,
GG,FB,CMG,SU,MA,BRCM,CIEN,FNSR,C....
In my portfolio :
Added 32% TCK @ $26.85
Exposure 145%
AH ER :
CTXS Down 3.85%
LVS Down 6.66%...as posted LVS ER was a miss on EPS......
ZNGA Down 38.16%
WFM UP 11.61%
WDC UP 19.49%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is trying to make a move higher, but Europe seems to be keeping a lid. Today's close was constructive considering "mother of all earning reports was a downer". I am strategically adding when possible. Once we come out on the other side, we may find much higher level.
BLOG does NOT give buy or sell.
Saleem
Indices green, UP .11% to .76%....NICE !!!!
Indices are green despite AAPL, that shows that markets were "deeply oversold".
S&P 500 @ 1342.40
Internals are positive
Oil Down 50 cents
Gold UP $31
Canadian $ UP 63 tick @ 98.50
VIX Down 6.55% @ 19.13
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
TCK reported before open & it was below expectation.
LVS is reporting tonight, based on TAPE, it looks like a miss & guide down.
Most stocks are UP
@ 2.05 following are down :
LVS,TCK,PCLN,AAPL,CLF,AMZN,LNKD,
LEN,CTXS, V,BWLD,EXPE,ARNA,ECA....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1342.40
Internals are positive
Oil Down 50 cents
Gold UP $31
Canadian $ UP 63 tick @ 98.50
VIX Down 6.55% @ 19.13
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
TCK reported before open & it was below expectation.
LVS is reporting tonight, based on TAPE, it looks like a miss & guide down.
Most stocks are UP
@ 2.05 following are down :
LVS,TCK,PCLN,AAPL,CLF,AMZN,LNKD,
LEN,CTXS, V,BWLD,EXPE,ARNA,ECA....
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 24, 2012
Indices down .82% to .94%.....
Indices are having European "spasm" again, only four years into this "known" ailment.
S&P 500 closed @ 1338.31
RSI @ 46.06
Internals were :
Down volume led by 3.79 to 1 in NYSE & 3.40 to 1 in Nasdaq
Declining stocks led by 2.90 to 1 in NYSE & 2.62 to 1 in Nasdaq
New 52 wk low were leading by 4 in NYSE & 95 in Nasdaq
VIX jumped 9.94% @ 20.47
Oil closed @ $88.50
Gold closed @ $1576.20
AH ER :
BRCM UP 1.56%
PNRA UP 7.03%
NFLX Down 16.66%
BWLD Down 15.53%
AAPL Down 5.52%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, AAPL is going to inflict a blow to market & sentiment. AAPL earning report was a huge miss six months ahead of iPhone 5 launch, this is not normal & is more a reflection of saturation. 5.52% drop AH defies logic as AAPL got everything below expectations by a wide margin. IBD has changed its opinion again to "Market In Correction". In my guess work, Wednesday may give us a "perfect V bottom".
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1338.31
RSI @ 46.06
Internals were :
Down volume led by 3.79 to 1 in NYSE & 3.40 to 1 in Nasdaq
Declining stocks led by 2.90 to 1 in NYSE & 2.62 to 1 in Nasdaq
New 52 wk low were leading by 4 in NYSE & 95 in Nasdaq
VIX jumped 9.94% @ 20.47
Oil closed @ $88.50
Gold closed @ $1576.20
AH ER :
BRCM UP 1.56%
PNRA UP 7.03%
NFLX Down 16.66%
BWLD Down 15.53%
AAPL Down 5.52%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, AAPL is going to inflict a blow to market & sentiment. AAPL earning report was a huge miss six months ahead of iPhone 5 launch, this is not normal & is more a reflection of saturation. 5.52% drop AH defies logic as AAPL got everything below expectations by a wide margin. IBD has changed its opinion again to "Market In Correction". In my guess work, Wednesday may give us a "perfect V bottom".
BLOG does NOT give buy or sell.
Saleem
Indices down 1.03% to 1.29% .......
Indices are down on same old concern about Greece & other debt laden troubled countries.
S&P 500 @ 1333.13
Internals are negative minimum 2 to 1
VIX UP 6.07% @ 19.75
Oil UP 43 cents
Gold Down 70 cents
Canadian $ Down 26 tick @ 97.87
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Most stocks are down
@ 2.17 following are UP
BIDU,JCP,PCLN,KORS,GG,FB,ZNGA,
MU,JDSU,CIEN,EGO,AEM,SINA,GS....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1333.13
Internals are negative minimum 2 to 1
VIX UP 6.07% @ 19.75
Oil UP 43 cents
Gold Down 70 cents
Canadian $ Down 26 tick @ 97.87
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Most stocks are down
@ 2.17 following are UP
BIDU,JCP,PCLN,KORS,GG,FB,ZNGA,
MU,JDSU,CIEN,EGO,AEM,SINA,GS....
BLOG does NOT give buy or sell.
Saleem
Monday, July 23, 2012
Indices closed down .79% to 1.20%....
Indices were following worldwide slump by hitting lows right after open, but by close all indices closed near best level of the day.
S&P 500 closed @ 1350.52
RSI @ 50.35
Internals were :
Down volume led by 2.77 to 1 in NYSE & 4.64 to 1 in Nasdaq
Declining stocks led by 3.23 to 1 in NYSE & 4.09 to 1 in Nasdaq
New 52 wk lows were leading by 4 in NYSE & 95 in Nasdaq
VIX closed UP 14.44% @ 18.62%
Oil closed @ $88.14
Gold closed @ $1577.49
AH ER :
TXN Down .63%
VMW Down 3.68%
BIDU UP 5.42%
BIDU earnings report was "contrary" to stories about China having hard landing.
BIDU Sales expected $853.4 million, Actual $858.8 million
BIDU EPS expected $1.11, Actual $1.24
Q3 expectations Sales $992.7 million, Guidance Mid Point $$996 Million
BIDU expectations were set 3 months ago, BEFORE any hint of so-called "hard landing"
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, US market TAPE is articulating better things to come. Even when world markets are tanking, US markets finds a way of erasing majority of its losses. Today's selling was on low volume. When indices do not close @ lows of the day, traders should pay attention, it is giving signal of next move UP.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1350.52
RSI @ 50.35
Internals were :
Down volume led by 2.77 to 1 in NYSE & 4.64 to 1 in Nasdaq
Declining stocks led by 3.23 to 1 in NYSE & 4.09 to 1 in Nasdaq
New 52 wk lows were leading by 4 in NYSE & 95 in Nasdaq
VIX closed UP 14.44% @ 18.62%
Oil closed @ $88.14
Gold closed @ $1577.49
AH ER :
TXN Down .63%
VMW Down 3.68%
BIDU UP 5.42%
BIDU earnings report was "contrary" to stories about China having hard landing.
BIDU Sales expected $853.4 million, Actual $858.8 million
BIDU EPS expected $1.11, Actual $1.24
Q3 expectations Sales $992.7 million, Guidance Mid Point $$996 Million
BIDU expectations were set 3 months ago, BEFORE any hint of so-called "hard landing"
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, US market TAPE is articulating better things to come. Even when world markets are tanking, US markets finds a way of erasing majority of its losses. Today's selling was on low volume. When indices do not close @ lows of the day, traders should pay attention, it is giving signal of next move UP.
BLOG does NOT give buy or sell.
Saleem
Indices down .90% to 1.21%......
Indices are reacting to Spanish, Italian & Greek mess.
European markets closed down from 2.09% to 3.18%....
S&P 500 low was 1337.56, currently @ 1349.83
RSI @ 49.50
Internals are negative by almost 4 to 1
New 52 wk lows are in the lead.
Oil Down $2.43
Gold Down $6.60
Canadian $ Down 54 tick @ 98.28
VIX UP 14.44% @ 18.62
Portfolio is BIDU, LVS,NTES,JCP,TCK,AUY
BIDU reports tonight, expecting a beat & in-line guidance.
Most stocks are down
@ 2.02 following are UP :
JCP,LULU,GOOG,LEN,ZNGA,AAPL,SNDK,
ARNA,NVDA,ECA.....
BLOG does NOT give buy or sell.
Saleem
European markets closed down from 2.09% to 3.18%....
S&P 500 low was 1337.56, currently @ 1349.83
RSI @ 49.50
Internals are negative by almost 4 to 1
New 52 wk lows are in the lead.
Oil Down $2.43
Gold Down $6.60
Canadian $ Down 54 tick @ 98.28
VIX UP 14.44% @ 18.62
Portfolio is BIDU, LVS,NTES,JCP,TCK,AUY
BIDU reports tonight, expecting a beat & in-line guidance.
Most stocks are down
@ 2.02 following are UP :
JCP,LULU,GOOG,LEN,ZNGA,AAPL,SNDK,
ARNA,NVDA,ECA.....
BLOG does NOT give buy or sell.
Saleem
Sunday, July 22, 2012
AAPL earning report will set the direction of this market.....
AAPL reports this Tuesday after close. AAPL is expected to beat expectations. How they guide will set the tone for AAPL stock & entire market.
There is a FEAR that AAPL iPhone4S Sales may be guided down for next Q in anticipation of new iPhone5........
As to the market away from AAPL, CMF have stayed positive for 5.5 weeks.
Here is CMF read :
DOW 0.244
S&P 500 0.300
Nasdaq 0.309
General sentiment remains poor, Individual investors are only 22% bullish. Sometimes extreme pessimism is positive for TAPE.
Earnings are missing Sales mark & guidance are generally weak.
IBD is changing their rating of market on a daily basis, Thursday after close IBD said "Market in confirmed UPTREND"....Friday after close they said "Market Uptrend under pressure".....so IF you feel confused about this market, you are not alone..."even technicians are changing their tune on a daily basis"
In my opinion, one should stay in this market, till it sorts itself out.
Stay with stocks which are unfairly beaten up, which IS the case with majority of stocks, all down 40% from their highs.
IF you see profit, it IS prudent to book immediately & go to your next best idea.
Markets are "never easy" but these days we have weakness around the world. News will continue to be "downbeat"........
Once you know that market will GYRATE on a daily basis, then you can play accordingly, either buy on weak days or sell on UP days.
All of us are swimming with loss for the year, the only way we can get ahead is to have a "realistic strategy", this differs based on investing or trading style.
It will be a gradual two step UP & one step DOWN market, better get used to it.
Good luck with your OWN strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
There is a FEAR that AAPL iPhone4S Sales may be guided down for next Q in anticipation of new iPhone5........
As to the market away from AAPL, CMF have stayed positive for 5.5 weeks.
Here is CMF read :
DOW 0.244
S&P 500 0.300
Nasdaq 0.309
General sentiment remains poor, Individual investors are only 22% bullish. Sometimes extreme pessimism is positive for TAPE.
Earnings are missing Sales mark & guidance are generally weak.
IBD is changing their rating of market on a daily basis, Thursday after close IBD said "Market in confirmed UPTREND"....Friday after close they said "Market Uptrend under pressure".....so IF you feel confused about this market, you are not alone..."even technicians are changing their tune on a daily basis"
In my opinion, one should stay in this market, till it sorts itself out.
Stay with stocks which are unfairly beaten up, which IS the case with majority of stocks, all down 40% from their highs.
IF you see profit, it IS prudent to book immediately & go to your next best idea.
Markets are "never easy" but these days we have weakness around the world. News will continue to be "downbeat"........
Once you know that market will GYRATE on a daily basis, then you can play accordingly, either buy on weak days or sell on UP days.
All of us are swimming with loss for the year, the only way we can get ahead is to have a "realistic strategy", this differs based on investing or trading style.
It will be a gradual two step UP & one step DOWN market, better get used to it.
Good luck with your OWN strategy & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, July 20, 2012
Indices closed down .93% to 1.37%......
It was Option Expiry plus Spain & Italy Bond yields jumping to record levels, result was a down close.
S&P 500 closed @ 1362.66
RSI @ 55.08
Internals were :
Down volume led by 3.17 to 1 in NYSE & 4.22 to 1 in Nasdaq
Declining stocks led by 2.02 to 1 in NYSE & 2.89 to 1 in Nasdaq
New 52 wk highs led by 76 in NYSE & new lows led by 3 in Nasdaq
VIX UP 5.31% @ 16.27
Oil closed @ $91.44
Gold closed @ $1582.80
Canadian $ closed @ 98.75
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Here is my portfolio weighting as of tonight :
NTES 28.78%
LVS 18.92%
BIDU 16.51%
TCK 14.01%
JCP 13.59%
AUY 8.19%
Exposure 141%
Stocks which finished green included AUY,
LEN,M,PCLN,AMZN,GG,GOOG,ZNGA,
MU,FNSR,SNDK
Next post on Sunday by 2 PM
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1362.66
RSI @ 55.08
Internals were :
Down volume led by 3.17 to 1 in NYSE & 4.22 to 1 in Nasdaq
Declining stocks led by 2.02 to 1 in NYSE & 2.89 to 1 in Nasdaq
New 52 wk highs led by 76 in NYSE & new lows led by 3 in Nasdaq
VIX UP 5.31% @ 16.27
Oil closed @ $91.44
Gold closed @ $1582.80
Canadian $ closed @ 98.75
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Here is my portfolio weighting as of tonight :
NTES 28.78%
LVS 18.92%
BIDU 16.51%
TCK 14.01%
JCP 13.59%
AUY 8.19%
Exposure 141%
Stocks which finished green included AUY,
LEN,M,PCLN,AMZN,GG,GOOG,ZNGA,
MU,FNSR,SNDK
Next post on Sunday by 2 PM
BLOG does NOT give buy or sell.
Saleem
Thursday, July 19, 2012
Indices closed UP .27% to .79%......NICE !!!
Indices closed UP, after many bout of profit taking.
S&P 500 closed @ 1376.51
RSI 61.18
Internals were :
UP volume led by 1.08 to 1 in NYSE & 1.70 to 1 in Nasdaq
Advancing Stocks led by 1.07 to 1 in NYSE & .76 to 1 in Nasdaq
New 52 wk highs were leading, 176 in NYSE & 76 in Nasdaq
VIX closed Down 4.39% @ 15.45..lowest level in a long while.....
Oil closed @ $92.66
Gold Closed @ $1580.40
AH ER :
AMD Down 3.09%
ISRG Down 4.17%
CMG Down 12.22%
MSFT UP 2.14%
GOOG UP 2.69%
SNDK UP 11.14%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, market is showing tremendous strength back to back in 3 out of 4 days. There is inflow in equities. Earning reports are mixed, but reactions are surprising, some positive on bad news.Market is in a forgiving mood. It is important to follow the TAPE, to benefit from this "burst of enthusiasm"
BLOG does NOT give buy or sell.
Indices UP .14% to .77%......NICE !!!!
Indices are still UP as profit taking is taking hold.
S&P 500 @ 1374.86
Internals are negative.
Oil UP $2.63
Gold UP $8.80
Canadian $ UP 23 tick @ 99.22
VIX UP .19% @ 16.19
In my Portfolio :
Bought AUY @ $14.51
Portfolio is BIDU,LVS,NTES,JCP,TCK,AUY
Exposure 141%
Most stocks are down
@ 2.26 following are UP :
BIDU,LVS,JCP,TCK,PCLN,AAPL,AMZN,
TIF,LULU,COH,FCX,LNKD,CLF,GG,GOOG,
BRCM,CIEN,FNSR,SNDK,CCJ,AEM,SINA,
WYNN....
BLOG does NOT give buy or sell.
Wednesday, July 18, 2012
Indices closed UP .67% to 1.12%...NICE !!!!
Indices reversed opening weakness & turned higher.
S&P 500 closed @ 1372.78
RSI 60.07
Internals were :
UP volume led by 1.65 to 1 in NYSE & 2.58 to 1 in Nasdaq
Advancing stocks led by 1.67 to 1 in NYSE & 1.54 to 1 in Nasdaq
New 52 wk highs were leading, 221 in NYSE & 91 in Nasdaq
VIX Down 1.94% @ 16.16
Oil @ $89.87
Gold @ $1570.80
Stocks which were UP 2% or more included BIDU,NTES,JCP,
KORS,COH,LULU,LRCX,BRCM,JDSU,CIEN,FNSR,SNDK...
AH ER :
IBM UP 2,84%
EBAY UP 5.09%
SWKS UP 8.11%
QCOM UP 5.78%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, all of a sudden everything is rosy again. Most of the earnings are in-line & guidance is lower. Market has decided that ER is more than fine. It is always wise to stay in market & benefit from changing sentiment. Tech & Retail were strong. Do not forget to book any gains as market sentiment are subject to many news driven events. RSI generally stalls around 70.
BLOG does NOT give buy or sell.
Indices strong on no news, UP .67% to 1.09%...NICE !!!!
Indices are showing their strength on no news, which is the-best surprise of today.
Fed beige book showing slower than expected economic activity in June & early July.
Indices are UP .67% to 1.09%
S&P 500 @ 1372.17
Internals are positive by almost 2 to 1
Oil UP 61 cents
Gold Down $16.30
Canadian $ UP 16 tick @ 98.90
VIX Down 2.85% @ 16.01
Portfolio is BIDU,LVS,NTES,JCP,TCK
Most stocks are UP
@ 2.30 following are down :
AAPL,AUY,GG,LEN,CMG, V,LNG,C,
EXPE,ARNA,MOS,SBUX,TSL,GS.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 17, 2012
Indices closed UP .45% to .74%...NICE !!!!
Indices were down ahead & during Ben Bernanke testimony, but by end of the day indices closed near highs.
S&P 500 closed @ 1363.67
RSI @ 57.32
Internals were :
UP volume led by 2.58 to 1 in NYSE & 1.31 to 1 in Nasdaq
Advancing stocks led by 2.04 to 1 in NYSE & 1.22 to 1 in Nasdaq
New 52 wk highs were leading, 224 in NYSE & 84 in Nasdaq
VIX down 3.68% @ 16.48
Oil closed @ $89.22
Gold closed @ $1589.50
Stocks which were UP 1% or more included LVS,TCK,
PCLN,CMG,SU,C,SNDK.....
AH ER / News
ARNA Down 7.15%
INTC Down 1.1%
WYNN UP .66%
EMC UP 6.81%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, we had strong Friday & Tuesday. Market has no defined character in terms of sectors. It is important to show long term conviction to your picks to deal with little or no appreciation in stock prices. It is going to be tough going forward as catalyst are missing for now.
BLOG does NOT give buy or sell.
All indices UP after BB testimony.......
Indices are UP .54% to .75% after Ben Bernanke indicated readiness to react as economy is showing weakness. He remains optimistic that US GDP may grow @ 2.4%.......
S&P 500 @ 1362.43
Internals are 2 to 1 in NYSE & 50% positive in Nasdaq
52 wk highs are leading
Oil UP 74 cents
Gold Down $3.20
Canadian $ UP 15 tick @ 98.68
VIX Down 4.85% @ 16.28
Portfolio is BIDU,LVS,NTES,JCP,TCK
Most stocks are UP
@ 2.07 following are down :
BIDU,NTES,JCP,LULU,CLF,AUY,GG,
FB,LNKD,LEN,MA,LNG,ZNGA,
BRCM,MU,JDSU,FNSR,ARNA,
NVDA,X,EGO,SINA,SNE....
EDU came out with good earning BUT it is being investigated by SEC, this caused a PANIC selling in Chinese stocks......
BLOG does NOT give buy or sell.
Monday, July 16, 2012
indices closed down .23% to .40%......
Indices were marking time after huge move on Friday.
By close indices were down max .40%.
S&P 500 closed @ 1353.64
RSI @ 54.08
Internals were :
Down volume led by 1.63 to 1 in NYSE & 1.75 to 1 in Nasdaq
Declining stocks led by 1.23 to 1 in NYSE & 1.84 to 1 in Nasdaq
New 52 wk highs were leading, 206 in in NYSE & 61 in Nasdaq
VIX UP 2.21% @ 17.11
Oil closed @ $88.43
Gold closed @ $1591.60
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE was digesting Friday's huge move & were hardly down beyond .40% @ close. It is easy to recognize the strength of this market, when we do not lose majority or any of the gains. It will be prudent to take advantage of minor pullbacks & add or buy desired stocks. This TAPE has the hallmark of investing environment than trading.
BLOG does NOT give buy or sell.
Indices down .17% to .32% on weak retail sales.....
Indices are showing small loss on weak retail sales.
S&P 500 @ 1354.94
Internals are negative
52 wk highs are in the lead
Oil UP 55 cents
Gold UP 40 cents
Canadian $ Down 12 tick @ 98.49
VIX UP 1.37% @ 16.97.....no strength, good for bullish action by close.
In my portfolio :
Added 120% TCK @ $29.86
Portfolio is BIDU,LVS,NTES,JCP,TCK
Exposure 132%
Most stocks are down
@ 1.59 following are green :
TIF,M,AUY,AAPL,LEN,CMG,SU,MA,V,
LRCX,C,ARNA,NVDA,MOS,SLW,APKT,
ECA,CSIQ,TSL,BJRI,WYNN,SNE,AGU,
GS,IBN....
BLOG does NOT give buy or sell.
Sunday, July 15, 2012
S&P 500 ready to cross resistance in Option Expiry week?
S&P 500 is looking @ resistance of 1374.81.....
CMF in indices are :
DOW +0.222
S&P 500 +0.317
Nasdaq +0.357
Money flow has been steady & trending UP, this shows accumulation.
I personally believe that resistance of 1374.81 will be taken out.....
Next target will be 1400 area......
This week is Option Expiry week, where bets are made to keep S&P 500 between 1350 to 1370......
Based on Option bets, it may not be a far fetched idea that by Friday we may be hovering around 1370 area....thanks to MM positioning.
Once we cross 1400 area then next resistance is 1415.82, after that 1422.38....
As earning season is starting, expectations are very low & even below expectation results may be condoned......
Earning season reactions depends on how high we have come in market & expectations, this time around it is highly discounted......it will be wise to wait for next day close to gauge real reaction to earnings.
As markets have decidedly moved up last Friday, it will be nice to see confirmation this week.
SO ..fasten your seat belt, as ride may be bumpy due to Option Expiry.
Good luck with your strategy.
BLOG does NOT give buy or sell.
Friday, July 13, 2012
Indices closed UP 1.48% to 1.65%....NICE !!!!
Indices were ready to run after six day's of slump.
S&P 500 closed near high of the day @ 1356.78
RSI 55.30
Internals were :
UP volume led by 8.06 to 1 in NYSE & 3.88 to 1 in Nasdaq
Advancing stocks led by 4.99 to 1 in NYSE & 2.83 to 1 in Nasdaq
New 52 wk highs were leading, 204 in NYSE & 100 in Nasdaq
VIX tumbled 8.67% @ 16.74
Oil @ $87.10
Gold @ $1592
Canadian $ UP 56 tick @ 98.61
Portfolio is BIDU,LVS,NTES,JCP,TCK
Here is my portfolio weighting as of tonight :
NTES 35.58%
LVS 21.77%
BIDU 19.48%
JCP 15.64%
TCK 7.53%
Exposure 123%
Stocks which were UP 1% or more included BIDU,TCK,
TIF,LULU,M,CLF,FCX,GOOG,AAPL,AMZN,GG,CMG,
C,LRCX,VECO,MGA.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Subscribe to:
Posts (Atom)