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.

Saleem
at

16 comments:

  1. stocktrader_1996July 17, 2012 at 6:38 AM

    Hey Saleem,

    Bought POT at 45.05.

    Stocktrader

    ReplyDelete
  2. Stocks100July 17, 2012 at 6:47 AM

    Hi Stocktrader,

    Good luck with POT.

    Saleem

    ReplyDelete
  3. cJuly 17, 2012 at 6:52 AM

    SALEEM

    BIDU
    fell off a cliff??

    Any newsThanks

    C

    ReplyDelete
  4. Stocks100July 17, 2012 at 6:53 AM

    Hi C,

    All Chinese high beta taking a hit....

    Saleem

    ReplyDelete
  5. cJuly 17, 2012 at 7:07 AM

    SALEEM
    OUCH

    Wow are now down $20 in the DOW

    Phew

    \C

    ReplyDelete
  6. Stocks100July 17, 2012 at 7:12 AM

    Hi C,

    BB Q&A should help stocks....

    Saleem

    ReplyDelete
  7. stocktrader_1996July 17, 2012 at 7:12 AM

    Hey Saleem,

    Bought FIO at 18.20.

    Stocktrader

    ReplyDelete
  8. Stocks100July 17, 2012 at 7:26 AM

    Hi Stocktrader,

    FIO is @ the lowest price in almost a year.....maybe the-best performer going forward....

    Saleem

    ReplyDelete
  9. stocktrader_1996July 17, 2012 at 7:31 AM

    Hey Saleem,

    I think its technology is unparalleled--the question is how bad will the IT spending environment be? At this point, I'm just looking to add quality companies at good prices as my hedge will hopefully protect the downside risks.

    Stocktrader

    ReplyDelete
  10. cJuly 17, 2012 at 7:32 AM

    SALEEM

    I gotta step out

    Hoping for some sanity in the market

    So far NYX is good.
    POT may be great buy here!

    Best of luck to all

    ReplyDelete
  11. Stocks100July 17, 2012 at 7:48 AM

    Hi C,

    Market @ low of the day now.....does not look good....

    Saleem

    ReplyDelete
  12. stocktrader_1996July 17, 2012 at 8:02 AM

    Hey Saleem,

    The $VIX is staying stunningly low still--something's got to give. Either the market is about to rally back up again, or this starts to waterfall down as people scramble for protection. To me it looks like a rally back today, but I'm staying net neutral as per my plan.

    Stocktrader

    ReplyDelete
  13. Stocks100July 17, 2012 at 8:21 AM

    Hi Stocktrader,

    VIX has turned lower by 1.5%...which is a great sign for better close.


    Saleem

    ReplyDelete
  14. stocktrader_1996July 17, 2012 at 9:51 AM

    Hey Saleem,

    Sold M at 34.07. Either the consumer gets weaker because of the economy in the second half, or they lose purchasing power when QE3 hits. Either way, the consumer seems in trouble. I also didn't like the way the retailers are falling back today after trying to push higher. There's a report out (from Citi?) that July has been horrible so far, and this was supposed to be the catchup month in my thesis.

    Stocktrader

    ReplyDelete
  15. Stocks100July 17, 2012 at 9:54 AM

    Hi Stocktrader,

    YES...retailers have been trending lower in anticipation of weak sales going forward.

    That was the reason for my exit from COH.....was overexposed in a weak sector.

    Saleem

    ReplyDelete
  16. cJuly 17, 2012 at 11:06 AM

    SALEEM

    COH should have been a sure fire winner--not..

    All retailers seems to be in pain now

    LVS is running for ya.

    My SFL is on a roll My REITS are all on fire
    Up 6% so far
    But my ERF and CNQ are problems for now
    I looked at POT and LLY for buying today--moved to fast
    with todays talk of recession I got scared
    Oh My
    VBLTA
    C

    ReplyDelete