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
9 comments:
Hey Saleem,
I'm considering selling 25% of the hedge on a gap down tomorrow. At that point, we'd be pretty oversold.
Stocktrader
Hi Stocktrader,
"oversold" maybe the biggest "understatement" for Wed market.
AAPL may give us "solid bottom".
Saleem
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
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
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
Hi Stocktrader,
I am glad that you are positive for two days & you are comfortable with your hedges.
Saleem
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
Hi C,
No cash here too.....all used up for now.....
Saleem
SALEEM
Do ya know COP
It is down 2.7% on me
yuk
Should I sell it??
C
Post a Comment