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
5 comments:
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
Hi C,
Sold BIDU.......
May buy it back.
Saleem
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
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
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
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