Tuesday, August 28, 2012

Nasdaq closed UP.....

Indices closed mixed, Nasdaq being the sole winner.

S&P 500 closed @ 1409.30

RSI @ 59.50

CMF @ 0.162

Internals were :

UP volume led by .83 to 1 in NYSE & .90 to 1 in Nasdaq

Advancing stocks led by 1.30 to 1 in NYSE & 1.42 to 1 in Nasdaq

New 52 wk highs were leading by 66 in NYSE & 22 in Nasdaq

VIX closed UP .86% @ 16.49

Stocks which were UP 1% or more included EXPE,LVS,JCP,
BIDU,M,LULU,LNKD,GOOG,CIEN,FNSR....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold Down

About market, as we are approaching close election, there is more than 50% chance of QE3. I am expecting Ben Bernanke to hint @ upcoming moves to bolster economy. One should be prepared to book profit either before the news or right after. Market do anticipate news.

BLOG does NOT give buy or sell.

Saleem

11 comments:

stocktrader_1996 said...

Hey Saleem,

Another nice outperformance day for the $RUT. It really has me more encouraged about the health of the market! :)

I'm looking at a possible purchase of YELP tomorrow. It is crashing due to a massive lockup expiration that happens tomorrow, but the business fundamentals are unchanged from it reported great earnings and when Apple announced it would be incorporating YELP's business listings into its new map application as Apple departs from its long-standing Google relationship on maps.

I think it is the perfect opportunity to take advantage of a solely market mechanic that depresses the true value of a stock.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Thanks for making us aware of YELP & its business fundamental.

I will monitor this stock for sure..it is going to be part of my top 25 monitoring list...

Saleem

c said...

Welcome back Saleem
I guess you were at your brothers
And thanks for the recommendations for Fidelity Broker
I have Very good executions

i got some BIDIU at $117.40

I like the RSI 43

C

Stocks100 said...

Hi C,

Thanks for your note.

NO i was with close friends.

BIDU was downgraded today.

Saleem

c said...

Saleem

I did not see that down grade BIDU at $115 now
yeks

Oh Boy

I am Glad that you had a good time being away
Refresh the batteries

C

stocktrader_1996 said...

Hey Saleem,

I absolutely messed up a great idea and ended up buying YELP all the way up at $19.6835. I still think the value is good here, but I really could have capitalized better.

I don't know if you saw a comment I made yesterday, but I live in an MSP suburb. It's a great town--I hope you enjoyed everything, except for the rainy Saturday we had! We were braving the zoo during that on and off shower.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Well...7 minutes and a surprise CNBC report later and I feel a lot better! :)

Amazing how the market works sometimes...

Stocktrader

Stocks100 said...

Hi Stocktrader,

I was staying in EAGAN.....another friend lives 3 miles away...i was mostly shopping & enjoying lunches @ restaurants..Mexican, Chinese, Panera plus 3 major feast @ 3 friends house.

YELP is FLYING already..you are in the money.....$$$$$$

Saleem

stocktrader_1996 said...

Hey Saleem,

I am very familiar with Eagan as I live in a south suburb also.

I'm glad you had such a great trip! As c said, a great vacation with friends really recharges those batteries! :)

Stocktrader

Stocks100 said...

Hi C,

IF you can believe....this was my first vacation in 4 years.....i needed that.....

YES..it feels good.

Saleem

c said...

SALEEM
thank you for your note!!!!!

I am so happy for you!! 4 yrs is way to long

Now we gotta make some $$$ to pay for the next vacation :):):)

We go to Cancun in December for a week, the wife ttys for a vacation once per year a least
I am holding BIDU it has got to come back up
wish full thinking, but it was already cheep
C