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
11 comments:
Hey Saleem,
I think tomorrow is a very key day. After bouncing off the 50 DMA two days in a row now, either we'll move decisively up or down in my opinion.
For now my hedges are staying on, but I'm getting a bit antsy with them. It certainly seems like we are daily absorbing new bad news and I'm not sure how much more can really come.
CLF might be an interesting play tomorrow. Given how bad everyone expected earnings and guidance, I thought it was actually ok. I might use my remaining cash to pick up some if the price is right, although I still find iron ore highly suspect.
Stocktrader
Hi Stocktrader,
After oversold condition normally TAPE drifts towards overbought condition...reasons are just an excuse.
Saleem
Hey Saleem,
Sold POT at 43.50. Earnings were disappointing.
Stocktrader
Hi Stocktrader,
Yes POT earnings & guidance was below consensus.
Saleem
Yahoo
Market is up $230
BIDU is $117--good pick Yahoo AUY is up too
You are the man Saleem
PS SFL is $14.41--go SFL
C
Hi C,
Yes...market is looking good.
Saleem
Hey Saleem,
POT also got downgraded to underperform from a Canadian brokerage house today on earnings which solidified my thoughts on it.
Bought CLF at 38.3399.
Stocktrader
Hey Saleem,
Bought some SQQQ at 47.75.
Stocktrader
Hi Stocktrader,
Good luck with SQQQ & CLF...
Saleem
Hey Saleem,
Sold my ERY hedge. All this talk of world stimulus plus underperformance today tells me this is not the right hedge. I am tempted to buy another coal or oil stock, but I'll take a moment to pause and let things shake out.
Stocktrader
Hi Stocktrader,
Taking time to think about next move is the right approach.
Saleem
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