Wednesday, August 1, 2012

Indices closed down .25% to .66%........

Indices reacted to Fed statement, which was changed a bit in language.


S&P 500 closed @ 1375.32


RSI @ 57.01


Internals were :


Down volume led by 1.88 to 1 in NYSE & 2.08 to 1 in Nasdaq


Declining stocks led by 1.67 to 1 in NYSE & 2.75 to 1 in Nasdaq


New highs led by 161 in NYSE & new lows led by 41 in Nasdaq


VIX UP.16% @ 18.96


Oil closed @ $88.91


Gold closed @ $1603.70


AH ER :


GMCR UP 12.67%


YELP UP 14.97%


FSLR UP 19.26%


AH Futures Mixed


AH Asian Markets Mixed


AH Oil & Gold Down


About market, it is all about ECB, meeting ends @ 730 AM EST, Press conference starts @ 830 AM EST. CNBC pundits are predicting little or no action & markets will be disappointed. I totally disagree, there will be decisions which will impact yields all over, Spain & Italy will benefit immediately, which is the-biggest challenge. I also expect concrete road map for many other specific actions. I am hopeful that European & US exchange should look lot healthier.


BLOG does NOT give buy or sell.


Saleem
at

5 comments:

  1. cAugust 2, 2012 at 7:20 AM

    Hello Saleem and ALL

    What a reversal in market

    APPLE was low of 600 now 609 what a swing--I am NOT that fast

    BIDU bounced up too! LEN is looking green...

    Have a good en
    C

    ReplyDelete
  2. Stocks100August 2, 2012 at 8:07 AM

    Hi C,

    Sold BIDU.......

    May buy it back.

    Saleem

    ReplyDelete
  3. cAugust 2, 2012 at 9:15 AM

    Saleem

    A profit is a good thing

    BIDU is at $122.17 I got some at $122.60.........

    Europe is kicking butt in USA
    Even APPLE is down

    C

    ReplyDelete
  4. stocktrader_1996August 2, 2012 at 9:37 AM

    Hey Saleem,

    This market is so crazy!

    If it wasn't for US politicians, I'd be buying huge here. Europe seems very close to a bottom, and the emerging markets are slowing moving back towards growth. The lack of a fiscal cliff resolution until end of year keeps me out though and I hate it. It makes me think every good economic numbers from July will start to roll over by Aug/Sept.

    The $RUT looks horrible.

    I might step into some materials tomorrow ahead of possible Chinese/other stimulus. It's risky though and I might pair with some more hedge. I am just too uncomfortable to be naked long.

    Trying to figure this all out...

    Stocktrader

    ReplyDelete
  5. Stocks100August 2, 2012 at 10:16 AM

    Hi Stocktrader,

    Market is never easy in "best of times"...currently its far far from best.

    It is important to do things which feels right....its all about comfort level.

    Good luck in your analysis & strategy.

    Saleem

    ReplyDelete