Indices were taken by all the commentary from UK, ECB, China. Rate cut from all 3 were outweighed by press conference of ECB chief, who highlighted EU economic challenges.
S&P 500 closed @ 1367.58
RSI @ 59.51
Oil @ $87.22
Gold $1609.40
VIX closed UP 5.04% @ 17.50
AH ER / News :
STX Down 3.03%
INFA Down 25.29%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Jobs report consensus is 90K, for the first time there is euphoria about this report. GS has jumped its expectations today by 50K to 125K ( they must have seen a good dream all of a sudden or numbers were leaked to them ? ) so my guess goes with leaked number of 125K or higher. This report should give us a nice finish to another strong week.
BLOG does NOT give buy or sell.
SALEEM
ReplyDeleteLooks like the market did not like the employment numbers
BIDU is down as in my APPLE
Copper is in the dumps
What happened to LVS
Did all things turn out OK for ya yesterday?
BLTA
C
Hi C,
ReplyDeleteI live 1 hr drive from Downtown Toronto.....
Any specialty shopping, i have to go there......
2 hr is driving..rest was shopping time...came around 715PM.
80K is not bad for a trough.....
Saleem
SALEEM
ReplyDeletethanks for reply....
My guess is market has to digest the numbers
Not much green on my board
C
Hi C,
ReplyDeleteThis gives a chance for market to take a rest..after huge run.....
Saleem
Hey Saleem,
ReplyDeleteThe funny part about the 80k jobs is that without the ADP number yesterday to get everyone juiced up, we would have been about right inline.
Ugly day today so far--looking for maybe a better close?
Stocktrader
Hi Stocktrader,
ReplyDeleteVIX is only UP 2.63%.....which gives better than 80 to 1 chance of better close.....
Saleem
Hey Saleem,
ReplyDeleteI noticed the $VIX also--hopefully it does play out well for bulls :).
Sold NVDA at 13.26 and bought MSTR at 118.01. When I can sell TNA next week, I can buy the NVDA back or possibly wait until after earnings.
Stocktrader
Hi Stocktrader,
ReplyDeleteMSTR..used to be $300 stock..many years ago..i think it was $1000 @ one time in 1999......
Good luck with MSTR.
Saleem
Hey Saleem,
ReplyDeleteYes, I remember that debacle--an earnings restatement dropped the stock in half in one day.
I saw an interview with the CEO on Bloomberg last night and was extremely impressed with his visionary growth plan and their current relationship with Facebook. I'll take a flier on it down 12.5% on someone else's earnings warning.
Stocktrader
Hi Stocktrader,
ReplyDeleteI still remember owners name Sayler or something like that..was known as most eligible bachelor worth several Billions....those were the days....
Saleem
Hey c,
ReplyDeleteDry bulk shippers do look interesting here--I'm looking at my favorite GNK again...
Stocktrader
I did not look at tankers
ReplyDeletethis week!
My SFL I sold for a profit
I need to see the price of oil move to get excited again..... GNK just crossed the 50 day average--hmmmm
I have traded DRYS which is so cheep
the very best to ya
C
Hey c,
ReplyDeleteYes, I looked at DRYS also and it looked good, but GNK has slightly better leverage to the day rates. I would stick with dry bulk since oil looks squishy here, and Japan restarting their nuclear reactors could dampen oil tanker demand.
I might buy some GNK in a small pure trading account I have. I'm not sure I can put together a longer term thesis for these yet to stick in the IRA.
Stocktrader