Indices closed UP....
S&P 500 closed @ 1410.49
RSI @ 60.13
CMF @ 0.213
Internals were :
UP volume led by 1.25 to 1 in NYSE 7 1.38 to 1 in Nasdaq
Advancing stocks led by 1.54 to 1 in NYSE & 1.53 to 1 in Nasdaq
New 52 wk highs led by 83 in NYSE & 36 in Nasdaq
VIX UP 3.46% @ 17.06
Oil @ $95.49
Gold @ $1663.00
Stocks which were UP 1% or more included JCP,
PCLN,LNKD,GOOG,BRCM,C,YELP
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE has been in a holding pattern for last ten trading day's.1426.68 is the number to crack. There may be jitteriness before Friday's Ben Bernanke speech. 1391.04 needs to be held on any pullback or else we go to 1354.65.
BLOG does NOT give buy or sell.
Saleem
13 comments:
SALEEM
PM is down -$35..
THis is one long in the tooth market
I say Sept oct nov we should go down and then the Santa Clause Rally will push us up again
Giddy Up BIDU and LEN
C
Hi C,
Pullback is healthy..not a bad thing.
BB should be "smooth for market as usual"
Saleem
Hey Saleem,
SPLK reports after the bell...finally. I will be listening carefully to this one. They have an amazing business--I wonder how fast companies are latching onto it, however. I guess I would characterize myself as optimistic, but I'm not sure I'm brave enough to enter pre-earnings. I'm still thinking about it though as I have a little over 11% cash to invest still.
Stocktrader
Hey Saleem,
Also, APKT's options activity has been massive in the last couple days--apparently it's a CSCO buyout rumor, and the options activity really solidifies it. I'm not sure what to do with it because the business is still challenged for now, and I'd hate to get caught up in a non-buyout drop, but it's another stock on my radar.
I should have just bought it when I mentioned it a couple of weeks ago.
Stocktrader
Hello to all
Board members...if anybody has 'hot money' that they need to invest at this time, they may want to take a look at BDCL (yield about 14%) and/or DVYL (yield about 13%)...
I have included a link to a 'live interactive chart' (three months), that investors may find interesting...!
http://finance.yahoo.com/echarts?s=DVYL+...
Any way GOOD LUCK
C
Hey c,
Amazing ETFs!! They 2x leverage an already high dividend yielding asset class to really juice those returns. Great finds! :)
Stocktrader
Hi Stocktrader,
I have been cautious for a while & booking profit as it comes...also reducing exposure @ the same time.
BUT..we are different in market read & strategy....
Do whatever you think is right.
Saleem
Hey Saleem,
I am generally always too bullish, but at least this time, everyone else is more bearish.
I think we were all expecting a pause either before or after Bernanke when he doesn't deliver explicit QE and instead just pledges support as needed. Hopefully this is that selloff and we can move constructively from here.
There are a lot of good beta stocks still doing well today, and the $RUT is not really underperforming despite good moves all week, so I wonder if it can make more strides by close. The chart looks like one of the best index-wise--not overbought at all and seems to be pushing against the breakout point of 820.
Stocktrader
Hey Saleem,
I decided to give SPLK a shot at 30.68. Even if there is squishiness in the numbers (which I don't really expect), I think the long term story could still generate interest in the stock immediately on any dip.
Stocktrader
Hi Stocktrader,
Good luck with SPLK..your DD is very good.
Saleem
SALEEM
Take a look at COACH
RSI 51
Last night fast --er slow money was super positive on it
a buy
Regards
C
Hi C,
I lost money on COH....
Saleem
SALEEM
So SOrry
I forgot
I am old
C
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