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
at

9 comments:

  1. stocktrader_1996July 24, 2012 at 7:06 PM

    Hey Saleem,

    I'm considering selling 25% of the hedge on a gap down tomorrow. At that point, we'd be pretty oversold.

    Stocktrader

    ReplyDelete
  2. Stocks100July 24, 2012 at 7:09 PM

    Hi Stocktrader,

    "oversold" maybe the biggest "understatement" for Wed market.

    AAPL may give us "solid bottom".

    Saleem

    ReplyDelete
  3. cJuly 25, 2012 at 5:05 AM

    Saleem

    APPLE is the news of the day
    down $29 smackers

    Lets see what happens today to it price

    Dow up $115 market is so over sold is this a bounce or what??
    C

    ReplyDelete
  4. Stocks100July 25, 2012 at 5:30 AM

    Hi C,

    There IS such a thing as DEEPLY OVERSOLD condition...that is when market turns UP even on bad news....

    Enjoy the greens$$$$$

    Saleem

    ReplyDelete
  5. stocktrader_1996July 25, 2012 at 9:08 AM

    Hey Saleem,

    Finally two days in a row my portfolio is working! I was up ~0.9% yesterday, and working on another 0.6% gain today. The good stocks are doing well (PANW and NOW up both days nicely for instance) and the hedges are protecting against the market.

    I didn't make any moves today to unwind as it seemed to be working fine. I expected some strength today (and we will likely get stronger still!), but tomorrow will be a better indication of whether this is a trading bottom or real bottom.

    Stocktrader

    ReplyDelete
  6. Stocks100July 25, 2012 at 9:29 AM

    Hi Stocktrader,

    I am glad that you are positive for two days & you are comfortable with your hedges.

    Saleem

    ReplyDelete
  7. cJuly 25, 2012 at 10:53 AM

    SALEEM

    good afternoon

    SDRL is a rocking ---yes--up 3.2%
    SFL is at the bottom$14.00 get some please
    I did --no cash left to buy more

    Hurray for your pick of AUY BIDI is holding $115

    My T came back on up! gosh divi are a floor too!

    C

    ReplyDelete
  8. Stocks100July 25, 2012 at 10:59 AM

    Hi C,

    No cash here too.....all used up for now.....

    Saleem

    ReplyDelete
  9. cJuly 25, 2012 at 11:29 AM

    SALEEM

    Do ya know COP
    It is down 2.7% on me
    yuk

    Should I sell it??
    C

    ReplyDelete