ISM number showed contraction, but S&P 500 & Nasdaq closed UP.
Dow was slightly down by .07%.
S&P 500 closed @ 1365.51, high today was 1366.35
RSI @ 59.94
Internals were :
UP volume led by 1.85 to 1 in NYSE & 1.79 to 1 in Nasdaq
Advancing stocks led by 2.42 to 1 in NYSE & 1.82 to 1 in Nasdaq
52 wk highs expanded their lead, 261 in NYSE & 165 in Nasdaq
Oil Down @ $83.75
Gold Down @ $1597.70
VIX Down 1.64% @ 16.80
Stocks which were UP 1% or more included AAPL,PCLN,MA,V,
KORS,LNKD,MU,ZNGA,VECO,CIEN,SNDK
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE today gave a solid confirmation of huge UP move on Friday. Internals were strong. Many skeptics are pinning their hope on a weak jobs number on Friday, but weaker jobs number may not give the reaction they are hoping for, Weak ISM number did not create any reaction for more than 30 minutes.
BLOG does NOT give buy or sell.
11 comments:
Hey Saleem,
Chinese non-manufacturing PMI came in at 56.7 in June versus 55.2 in May, confirming the health of the consumer there and their overall transition to a more consumption-based economy, which obviously will be in progress for a long time.
Stocktrader
Hi Stocktrader,
Chinese economy is transitioning from worlds factory to more internal consumerism.
Chinese Q3 GDP will be back to growth mode with internal growth.
Saleem
Hey Saleem,
Commodities on fire again. I'm itching to get back into some of those names, I just haven't decided where exactly...
Also, that recent IPO ServiceNow (NOW) looks very attractive from a future growth perspective. I may add that soon.
Stocktrader
Hey Saleem,
Bought NOW at 24.80.
Stocktrader
Hi Stocktrader,
TCK has been behaving better than most stock in Base Metal sector....
Saleem
Hey Saleem,
Yes, both copper and coal have rebounded nicely, benefitting TCK in both ways. Does it have the CAD currency translation benefit also?
Stocktrader
Hi Stocktrader,
CAD is improving which should help TCK in its currency gains.
Saleem
SALEEM
BAM look at SFL go today--GNK and DRYS awesome pops
Must be the IRAN oil embargo working????????
Gotta love CNQ finally green and mean
Our BIDU is up two smackers
YOu all may want to play the shippers today
Best of luck
And Saleem thanks for your continued help
C
Hi C,
Thanks for your feedback.
BIDU is looking much better.
Good luck with shippers.
Saleem
Hey Saleem,
Sold WWWW at 18.80321 average. The chart has been bothering me for a few days now, and I've always been suspect of the relatively low barriers to entry in the business. At the very least, I'll let the stock rest a while, or maybe I'll use the funds for another situation I find.
Stocktrader
Hi Stocktrader,
WWWW is resting after a huge move.
Saleem
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