Wednesday, August 8, 2012

Indices closed mixed.......

Fourth day in a row , S&P 500 & Dow managed to close green, Nasdaq was the only loser down .16%.

 S&P 500 closed @ 1402.22

 RSI @ 63.66

 Internals were :

 UP volume led by 1.54 to 1 in NYSE & 1.28 to 1 in nasdaq

 Advancing stocks led by 1.05 to 1 in NYSE & .78 to 1 in Nasdaq

 New 52 wk highs were leading, 129 in NYSE & 58 in Nasdaq

 VIX closed Down 4.19% @ 15.32

 Oil closed @ $93.35

 Gold closed @ $1616.00

 Stocks which were green @ close included
BIDU,LEN,JCP,
TIF,CLF,FCX,GOOG,M,
COH,MA,V,MU,JDSU,PANW

 Chinese inflation data CPI came in @ 1.8%, expectations of 1.7%. PPI dropped 2.9% expectations were drop of 2.5%. These data leaves lot of room to loosen Chinese monetary policy further.

 AH Futures UP

 AH Asian Markets Mixed

 AH Oil & Gold UP

 About market, TAPE is so strong that it seems that a "blowoff" is imminent anytime. Markets are stable because there is something which IS brewing. Bullish bets are being rewarded big time & more may be on the way.

 BLOG does NOT give buy or sell.

 Saleem
at

8 comments:

  1. cAugust 9, 2012 at 6:39 AM

    SALEEM

    What a market ---Looking at BIDU
    have a low offer in at $130.50--I guess I lost the bet!

    A lot of builders were upgraded today
    LEN is up on the upgrade??


    Have a good en
    C

    ReplyDelete
  2. Stocks100August 9, 2012 at 6:49 AM

    Hi C,

    Do not undercut buying price by 50 cents on a stock worth $131.....

    Market is green......

    Saleem

    ReplyDelete
  3. cAugust 9, 2012 at 7:19 AM

    SALEEM

    very good point not to under cut the current price
    that is the way I usually operate
    but high flyers never cooperate with the low price strategy

    the market is showing lots of strength

    As for VIX being so low
    does that mean we have compliance --we are not scared right now so VIX measures level of risk
    Low VIX low level of risk

    thanks
    C

    ReplyDelete
  4. Stocks100August 9, 2012 at 7:30 AM

    Hi C,

    Low VIX means that market participant may take stocks even HIGHER......

    Complacency is normal in UPtrending market.

    BUT around 13 to 14 VIX market may be sell sell sell.....

    Saleem

    ReplyDelete
  5. cAugust 9, 2012 at 8:17 AM

    SALEEm

    I got some BIDU at 130.90

    hurray

    participation on an up note Music to our ears

    thanks for VIX info
    c

    ReplyDelete
  6. Stocks100August 9, 2012 at 8:20 AM

    Hi C,

    Good luck with BIDU......

    Saleem

    ReplyDelete
  7. cAugust 9, 2012 at 10:03 AM

    SALEEM

    Took a walk on the wild side
    SOld the LEN at $31.60 I could not leave $245 on the table,

    Lets see if I missed the wild side

    Smile
    Looks like Monsanto was the one to buy for the draught--so says CNBC.......
    Finally CNQ loves me, UP 5% hurrah.

    c

    ReplyDelete
  8. Stocks100August 9, 2012 at 10:16 AM

    Hi C,

    Profit is a good thing.

    Saleem

    ReplyDelete