So here we are in October of 2012......
First week of October may be more challenging.....
This week, news from China ,EU,Fed minute & Jobs report are ready to hit us....
China & Europe may provide positive catalyst......
But Fed minute & Jobs report may hit us on the negative note.....
So brace for a challenging week where market may "gyrate more than usual"
I see this week as UP,DOWN,DOWN & ending on negative for the week.
This week should be a week to build position in better performing stocks & pruning laggards.
BUT..... after this week, we should be ready for a sustained uptrend with new highs in DOW & S&P 500.
From second week in October to second week in January is "the-best time to be in market" based on history.
Technology is going to outperform in a big way, retailers will do well also......
Exposure needs to be in the tech sector with heaviest weighting.
TAPE is giving every signal that we are setting up for a nice sustained rally, we are in the process of making a solid bottom this week.
S&P 500 may test 1430 area........
SO...it is time to "reshift focus" into a very bullish mode.......
Good luck with your OWN homework & strategy.
BLOG does NOT give buy or sell.
Saleem
Sunday, September 30, 2012
Friday, September 28, 2012
Indices closed down .36% to .65%.....
Indices were under pressure before open as EU story was perking up again.
S&P 500 closed @ 1440.67
RSI @ 53.53
CMF @ 0.031
Internals were :
Down volume led by 2.83 to 1 in NYSE & 1.50 to 1 in Nasdaq
Declining stocks led by 1.55 to 1 in NYSE & 1.89 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 40 in Nasdaq
Oil closed @ $92.19
Gold closed @ $1773.90
Canadian $ closed @ 101.68
Portfolio is BIDU,DNKN,EXPE,LVS,LEN,RIMM,YHOO
Stocks which closed green included BIDU,RIMM,
SNDK,AEM,M,LNKD,FB,AGU,COH,V.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1440.67
RSI @ 53.53
CMF @ 0.031
Internals were :
Down volume led by 2.83 to 1 in NYSE & 1.50 to 1 in Nasdaq
Declining stocks led by 1.55 to 1 in NYSE & 1.89 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 40 in Nasdaq
Oil closed @ $92.19
Gold closed @ $1773.90
Canadian $ closed @ 101.68
Portfolio is BIDU,DNKN,EXPE,LVS,LEN,RIMM,YHOO
Stocks which closed green included BIDU,RIMM,
SNDK,AEM,M,LNKD,FB,AGU,COH,V.....
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, September 27, 2012
Indices closed UP .54% to 1.39%......NICE !!!!
Indices closed UP after Spain "showed the budget"......
S&P 500 closed @ 1447.15
RSI @ 57.35
CMF @ 0.016
Internals were :
UP volume led by 4.68 to 1 in NYSE & 4.52 to 1 in Nasdaq
Advancing stocks led by 3.07 to 1 in NYSE & 2.72 to 1 in Nasdaq
Net new 52 wk highs were leading by 109 in NYSE & 64 in Nasdaq
VIX closed Down 11.72% @ 14.84
Oil closed @ $91.85
Gold closed @ $1780.50
AH ER :
ACN UP 3.84%
RIMM UP 20.31%
RIMM ER was a beat on Sales & EPS.....
Sales Expected $2.50 Billion, actual $2.87 Billion, a sequential increase of 2%
EPS loss expected 46 cents, actual loss of 27 cents
Cash on hand increased to $2.3 Billion from $2.2 Billion, expectation was a big draw down?
Smartphones shipped 7.4 million beating expectations of 6.9 million
ASP went UP, expectations it will go down ?
Can all genius on Wall Street be wrong about RIMM on every metric..YES they were..but they are NEVER wrong about RIMM, because they do "hourly channel checks" ???
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, volume was low today which does not give me too much comfort. We did not close @ high of the day either. So be careful with your expectations about any rally until earning reports start trickling. S&P 500 CMF was barely green which surprised me.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1447.15
RSI @ 57.35
CMF @ 0.016
Internals were :
UP volume led by 4.68 to 1 in NYSE & 4.52 to 1 in Nasdaq
Advancing stocks led by 3.07 to 1 in NYSE & 2.72 to 1 in Nasdaq
Net new 52 wk highs were leading by 109 in NYSE & 64 in Nasdaq
VIX closed Down 11.72% @ 14.84
Oil closed @ $91.85
Gold closed @ $1780.50
AH ER :
ACN UP 3.84%
RIMM UP 20.31%
RIMM ER was a beat on Sales & EPS.....
Sales Expected $2.50 Billion, actual $2.87 Billion, a sequential increase of 2%
EPS loss expected 46 cents, actual loss of 27 cents
Cash on hand increased to $2.3 Billion from $2.2 Billion, expectation was a big draw down?
Smartphones shipped 7.4 million beating expectations of 6.9 million
ASP went UP, expectations it will go down ?
Can all genius on Wall Street be wrong about RIMM on every metric..YES they were..but they are NEVER wrong about RIMM, because they do "hourly channel checks" ???
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, volume was low today which does not give me too much comfort. We did not close @ high of the day either. So be careful with your expectations about any rally until earning reports start trickling. S&P 500 CMF was barely green which surprised me.
BLOG does NOT give buy or sell.
Saleem
Indices UP .70% to 1.36%......NICE !!!!
Indices are back on track, UP after few days of correction.
S&P 500 @ 1448.31
Internals are positive by minimum 3 to 1
Oil UP $1.93
Gold UP $26.10
Canadian $ UP 56 tick @ 102.09
VIX Down 10.47% @ 15.05
In my portfolio :
Bought RIMM @ $6.80
Portfolio is BIDU,DNKN,EXPE,LVS,LEN,RIMM,YHOO
Exposure 92%
Most stocks are UP
@ 2.05 following are down :
DNKN,RIMM,MU......
RIMM reports AH, Expectations are Sales $2.5 billion & EPS loss of 46 cents...i am expecting RIMM to come in "better on EPS"...Option is predicting move of 11%+.......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1448.31
Internals are positive by minimum 3 to 1
Oil UP $1.93
Gold UP $26.10
Canadian $ UP 56 tick @ 102.09
VIX Down 10.47% @ 15.05
In my portfolio :
Bought RIMM @ $6.80
Portfolio is BIDU,DNKN,EXPE,LVS,LEN,RIMM,YHOO
Exposure 92%
Most stocks are UP
@ 2.05 following are down :
DNKN,RIMM,MU......
RIMM reports AH, Expectations are Sales $2.5 billion & EPS loss of 46 cents...i am expecting RIMM to come in "better on EPS"...Option is predicting move of 11%+.......
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 26, 2012
Indices closed down .33% to .77%.....
Indices were sold off again on EU issues.
S&P 500 closed @ 1433.32
RSI @ 50.31
CMF @ 0.010
Internals were :
Down volume led by 1.73 to 1 in NYSE & 2.47 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.69 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 3 in Nasdaq
VIX closed UP 8.94% @ 16.81
Oil closed @ $89.98
Gold Closed @ $1753.60
AH Futures UP
AH Asian Markets mostly UP
AH Oil & Gold UP
About market, Indices churn & corrected about 3% in S&P 500 in a span of 8 days, majority of the pullback happened in last two days. This was a much needed quick removal of froth. Now market can go back to doing what it was doing before.Next two days should see renewed buying based on month end & quarter end buying. After that we may go back to "churn mode" again for a week. So book profit & wait for "buy the weakness"...repeatedly.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1433.32
RSI @ 50.31
CMF @ 0.010
Internals were :
Down volume led by 1.73 to 1 in NYSE & 2.47 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.69 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 3 in Nasdaq
VIX closed UP 8.94% @ 16.81
Oil closed @ $89.98
Gold Closed @ $1753.60
AH Futures UP
AH Asian Markets mostly UP
AH Oil & Gold UP
About market, Indices churn & corrected about 3% in S&P 500 in a span of 8 days, majority of the pullback happened in last two days. This was a much needed quick removal of froth. Now market can go back to doing what it was doing before.Next two days should see renewed buying based on month end & quarter end buying. After that we may go back to "churn mode" again for a week. So book profit & wait for "buy the weakness"...repeatedly.
BLOG does NOT give buy or sell.
Saleem
Indices down .20% to .79%......
Indices are reacting to Spain on its austerity measures which is being resented on the street through violence.
S&P 500 @ 1435.05 after touching a low of 1430.53
RSI @ 52.73
Internals are negative
Oil Down $1.92
Gold Down $11.40
Canadian $ Down 40 tick @ 101.62
VIX UP 5.51% @ 16.28
In my portfolio :
Bought EXPE @ $57.22
Portfolio is BIDU,DNKN,EXPE,LVS,LEN,YHOO
Exposure 89%
Most stocks are down
@ 1.55 following are green :
BIDU,DNKN,LVS,TCK,AEM,GG,JCP,
KORS,LULU,M,FCX,GOOG,FB,AGU,
MCD,X,STLD,RIMM
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1435.05 after touching a low of 1430.53
RSI @ 52.73
Internals are negative
Oil Down $1.92
Gold Down $11.40
Canadian $ Down 40 tick @ 101.62
VIX UP 5.51% @ 16.28
In my portfolio :
Bought EXPE @ $57.22
Portfolio is BIDU,DNKN,EXPE,LVS,LEN,YHOO
Exposure 89%
Most stocks are down
@ 1.55 following are green :
BIDU,DNKN,LVS,TCK,AEM,GG,JCP,
KORS,LULU,M,FCX,GOOG,FB,AGU,
MCD,X,STLD,RIMM
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 25, 2012
Indices closed down .75% to 1.36%......
Indices had their much needed first reversal.
S&P 500 closed @ 1441.59
RSI @ 55.39
CMF @ 0.012
Internals were :
Down Volume led by 8.01 to 1 in NYSE & 5.33 to 1 in Nasdaq
Declining stocks led by 2.72 to 1 in NYSE & 2.80 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 105 in Nasdaq
VIX jumped 9.05% @ 15.43
Oil closed @ $91.37
Gold closed @ $1776.40
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, today was the lonely reversal which everyone expected but was not happening for a longest time. All indices closed @ absolute low of the day. Volume was above average. IF this down day is not followed by another down close, then it was a one day sharp reversal event. I still believe that "trend remains UP" but with more choppiness / churn. This may last for another two weeks, until Q3 earnings are in vogue. Again, keep booking profit & take position in new profitable / safer ideas.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1441.59
RSI @ 55.39
CMF @ 0.012
Internals were :
Down Volume led by 8.01 to 1 in NYSE & 5.33 to 1 in Nasdaq
Declining stocks led by 2.72 to 1 in NYSE & 2.80 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 105 in Nasdaq
VIX jumped 9.05% @ 15.43
Oil closed @ $91.37
Gold closed @ $1776.40
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, today was the lonely reversal which everyone expected but was not happening for a longest time. All indices closed @ absolute low of the day. Volume was above average. IF this down day is not followed by another down close, then it was a one day sharp reversal event. I still believe that "trend remains UP" but with more choppiness / churn. This may last for another two weeks, until Q3 earnings are in vogue. Again, keep booking profit & take position in new profitable / safer ideas.
BLOG does NOT give buy or sell.
Saleem
Indices down .16% to .20%.....
Indices turned lower & is slightly below breakeven.
S&P 500 @ 1454.22
RSI 64.65
Internals are negative
VIX UP 1.41% @ 14.35
Oil Down 53 cents
Gold UP $2.70
Canadian $ Down 7 tick @ 102.13
In my portfolio :
Sold EXPE
Bought YHOO @ $15.87
Portfolio is BIDU,DNKN,LVS,LEN,YHOO
Most stocks are down
@ 2.05 following are green :
BIDU,LVS,EXPE,GG,AEM,JCP,GOOG,PCLN,
AGU,PANW,M,V,BWLD,SLW,WYNN....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1454.22
RSI 64.65
Internals are negative
VIX UP 1.41% @ 14.35
Oil Down 53 cents
Gold UP $2.70
Canadian $ Down 7 tick @ 102.13
In my portfolio :
Sold EXPE
Bought YHOO @ $15.87
Portfolio is BIDU,DNKN,LVS,LEN,YHOO
Most stocks are down
@ 2.05 following are green :
BIDU,LVS,EXPE,GG,AEM,JCP,GOOG,PCLN,
AGU,PANW,M,V,BWLD,SLW,WYNN....
BLOG does NOT give buy or sell.
Saleem
Monday, September 24, 2012
Constructive close today.......
Indices were staring @ negative economic news out of Europe, but by close all we got was a normal "churn".
S&P 500 closed @1456.89
RSI 67.01
CMF @ 0.043
Internals were :
Down volume led by 1.59 to 1 in NYSE & 3.12 to 1 in Nasdaq
Declining stocks led by 1.48 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 154 in NYSE & 98 in Nasdaq
VIX closed UP 1.22% @ 14.15
Oil closed Down @ $91.93
Gold closed Down @ $1764.60
AH ER RHT Down 2.85%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, what can you say about a market TAPE which refuses to go down. This is a sign of another move UP near term. Follow the TAPE & do NOT overthink this TAPE. This TAPE is as good as it gets.Stay involved & you should benefit in a diversified portfolio.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @1456.89
RSI 67.01
CMF @ 0.043
Internals were :
Down volume led by 1.59 to 1 in NYSE & 3.12 to 1 in Nasdaq
Declining stocks led by 1.48 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 154 in NYSE & 98 in Nasdaq
VIX closed UP 1.22% @ 14.15
Oil closed Down @ $91.93
Gold closed Down @ $1764.60
AH ER RHT Down 2.85%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, what can you say about a market TAPE which refuses to go down. This is a sign of another move UP near term. Follow the TAPE & do NOT overthink this TAPE. This TAPE is as good as it gets.Stay involved & you should benefit in a diversified portfolio.
BLOG does NOT give buy or sell.
Saleem
Indices down .22% to .86%.....
Indices are down thanks to lower than expected German economic data.
S&P 500 @ 1454.40
RSI 65.40
Internals are negative
Oil Down $1.53
Gold Down $14.10
Canadian $ Down 27 tick @ 102.04
VIX UP 2.07% @ 14.27
Portfolio is BIDU,DNKN,EXPE,LVS,LEN
LEN ER was a beat in Sales & EPS..EPS expected 28 cents, actual 40 cents..a huge beat..but stock is down currently 3.25% ?
Most stocks are Down
@ 2.00 following are green :
BIDU,LVS,FFIV,GOOG,SBUX,MCD,SINA,
BJRI,YHOO,IBN......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1454.40
RSI 65.40
Internals are negative
Oil Down $1.53
Gold Down $14.10
Canadian $ Down 27 tick @ 102.04
VIX UP 2.07% @ 14.27
Portfolio is BIDU,DNKN,EXPE,LVS,LEN
LEN ER was a beat in Sales & EPS..EPS expected 28 cents, actual 40 cents..a huge beat..but stock is down currently 3.25% ?
Most stocks are Down
@ 2.00 following are green :
BIDU,LVS,FFIV,GOOG,SBUX,MCD,SINA,
BJRI,YHOO,IBN......
BLOG does NOT give buy or sell.
Saleem
Sunday, September 23, 2012
Worrying about market direction ?
Everybody is hyper focused on where markets are headed on Monday, Tuesday or end of the week.
This worry does not make sense as we have come a long way from June 2012.
So.. we have moved from 1266.74 in early June to 1474.51 in 2nd week of Sep, 2012.....that is a gain of 207.77 points or 16.40% in less than 3.5 months......
SO what should be the strategy after such a huge move ?
It is all about strategy in this new market TAPE.
Same traders were focused on when the next correction is all the way from 1266.74?
Market TAPE has changed for the better......
It does not pay to be hyper focused on market...
One needs to be extremely diligent in selection of stocks & booking profit......that is the real theme of this market.....
SO..market may go down 60 S&P points.......
OR..market may CHURN for next two weeks....
Either way, one needs to define a game plan.....
It is never the same strategy 365 days of the year.....
Strategy needs tinkering based on where we are & where we may be headed......
My strategy has been to reduce exposure as we head higher....i have done it couple of times in a big way...
My strategy also entails to be in the market with better performing stocks....
It is all about comfort level, mine is @ reduced exposure of 70%
Predicting market is almost impossible......
Either we know our stocks or not IS the-issue......
It is knowing about fundamental & technical of stocks which may be the next leader....
We need to develop conviction about stocks which IS in a defined uptrend.
SO..do not even attempt to be a "market guru" but try to be a good stock picker......
I have not met anyone who could predict market in more than one cycle, because market TAPE is extremely unpredictable for anybody including Granville, Prechter, Rosenberg, Roubini, Abby Joseph Cohen etc
So relax...& focus on next movers in stock universe......
Yes... it may involve stocks going down for a while or if you get lucky..you may be seen a "genius" in picking stock...but know that one cannot beat market gyration.......
Good luck in your new focus on "picking stocks"....some stocks do get oversold / overbought or some are ready to move UP.....knowing that will keep you in the right arena....
BLOG does NOT give buy or sell.
Saleem
This worry does not make sense as we have come a long way from June 2012.
So.. we have moved from 1266.74 in early June to 1474.51 in 2nd week of Sep, 2012.....that is a gain of 207.77 points or 16.40% in less than 3.5 months......
SO what should be the strategy after such a huge move ?
It is all about strategy in this new market TAPE.
Same traders were focused on when the next correction is all the way from 1266.74?
Market TAPE has changed for the better......
It does not pay to be hyper focused on market...
One needs to be extremely diligent in selection of stocks & booking profit......that is the real theme of this market.....
SO..market may go down 60 S&P points.......
OR..market may CHURN for next two weeks....
Either way, one needs to define a game plan.....
It is never the same strategy 365 days of the year.....
Strategy needs tinkering based on where we are & where we may be headed......
My strategy has been to reduce exposure as we head higher....i have done it couple of times in a big way...
My strategy also entails to be in the market with better performing stocks....
It is all about comfort level, mine is @ reduced exposure of 70%
Predicting market is almost impossible......
Either we know our stocks or not IS the-issue......
It is knowing about fundamental & technical of stocks which may be the next leader....
We need to develop conviction about stocks which IS in a defined uptrend.
SO..do not even attempt to be a "market guru" but try to be a good stock picker......
I have not met anyone who could predict market in more than one cycle, because market TAPE is extremely unpredictable for anybody including Granville, Prechter, Rosenberg, Roubini, Abby Joseph Cohen etc
So relax...& focus on next movers in stock universe......
Yes... it may involve stocks going down for a while or if you get lucky..you may be seen a "genius" in picking stock...but know that one cannot beat market gyration.......
Good luck in your new focus on "picking stocks"....some stocks do get oversold / overbought or some are ready to move UP.....knowing that will keep you in the right arena....
BLOG does NOT give buy or sell.
Saleem
Friday, September 21, 2012
Indices closed flat.......
Indices were strong @ open, then triple witching activity took over. By close we were pretty much where we closed yesterday.
S&P 500 closed @ 1460.15
RSI 69.91
CMF 0.069
Internals were :
UP volume led by .88 to 1 in NYSE & 1.01 to 1 in Nasdaq
Advancing stocks led by 1.41 to 1 in NYSE & 1.59 to 1 in Nasdaq
Net new 52 wk highs were leading by 269 in NYSE & 156 in Nasdaq
VIX closed Down .64% @ 13.98
Oil closed @ $92.89
Gold closed @ $1778.00
Stocks which were UP 1% or more included DNKN,EXPE,LEN,
FB,KORS,MA,ZNGA,FNSR,ARNA,ECA,KOG,IBN.....
Portfolio BIDU,DNKN,EXPE,LVS,LEN
Here is my portfolio weighting :
LVS 25.25%
EXPE 21.53%
BIDU 20.14%
DNKN 16.75%
LEN 16.33%
Exposure 70%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1460.15
RSI 69.91
CMF 0.069
Internals were :
UP volume led by .88 to 1 in NYSE & 1.01 to 1 in Nasdaq
Advancing stocks led by 1.41 to 1 in NYSE & 1.59 to 1 in Nasdaq
Net new 52 wk highs were leading by 269 in NYSE & 156 in Nasdaq
VIX closed Down .64% @ 13.98
Oil closed @ $92.89
Gold closed @ $1778.00
Stocks which were UP 1% or more included DNKN,EXPE,LEN,
FB,KORS,MA,ZNGA,FNSR,ARNA,ECA,KOG,IBN.....
Portfolio BIDU,DNKN,EXPE,LVS,LEN
Here is my portfolio weighting :
LVS 25.25%
EXPE 21.53%
BIDU 20.14%
DNKN 16.75%
LEN 16.33%
Exposure 70%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, September 20, 2012
Impressive close today.......
Worldwide indices were down before open, but Dow managed to fight negativity & closed green.
S&P 500 closed @ 1460.26
RSI @ 70.00
CMF @ 0.098
Internals were :
Down Volume led by 1.72 to 1 in NYSE & 1.36 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk highs were leading by 122 in NYSE & 61 in Nasdaq
VIX closed UP 1.37% @ 14.07
Oil closed @ $92.69
Gold closed @ $1770.20
AH Futures UP
AH Asian Markets mostly UP
AH Oil & Gold UP
About market, today was another day that TAPE proved that trend is still UP. I am expecting a "strong day" on Option Expiry.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1460.26
RSI @ 70.00
CMF @ 0.098
Internals were :
Down Volume led by 1.72 to 1 in NYSE & 1.36 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk highs were leading by 122 in NYSE & 61 in Nasdaq
VIX closed UP 1.37% @ 14.07
Oil closed @ $92.69
Gold closed @ $1770.20
AH Futures UP
AH Asian Markets mostly UP
AH Oil & Gold UP
About market, today was another day that TAPE proved that trend is still UP. I am expecting a "strong day" on Option Expiry.
BLOG does NOT give buy or sell.
Saleem
Indices down .07% to .40%......
Worldwide PMI went well below expectations, China, France, Japan caused the slump.
US market is faring much better due to improving economy & Fed QE3.
S&P 500 @ 1457.01, low was 1449.98
RSI @ 67.52
Internals are negative by 2 to 1
Oil Down 7 cents
Gold Down 70 cents
Canadian $ Down 31 tick @ 102.27
VIX UP 3.39% @ 14.35
Portfolio is BIDU,DNKN,EXPE,LVS,LEN.....
Most stocks are down
@ 2.06 following are green :
EXPE,ZNGA,BWLD,MOS,MCD,ECA,BJRI....
BLOG does NOT give buy or sell.
Saleem
US market is faring much better due to improving economy & Fed QE3.
S&P 500 @ 1457.01, low was 1449.98
RSI @ 67.52
Internals are negative by 2 to 1
Oil Down 7 cents
Gold Down 70 cents
Canadian $ Down 31 tick @ 102.27
VIX UP 3.39% @ 14.35
Portfolio is BIDU,DNKN,EXPE,LVS,LEN.....
Most stocks are down
@ 2.06 following are green :
EXPE,ZNGA,BWLD,MOS,MCD,ECA,BJRI....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 19, 2012
Indices closed UP .10% to .15%.....NICE !!!!
Indices had the best day in three days when all closed in green.
S&P 500 closed @ 1461.05
RSI 70.64
CMF 0.076
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.12 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & .92 to 1 in Nasdaq
Net new 52 wk highs were leading by 173 in NYSE & 98 in Nasdaq
VIX closed Down 2.12% @ 13.88
Oil closed @ $91.98
Gold closed @ $171.20
Stocks which were UP 1% or more included BIDU,EXPE,LVS,LEN,
FFIV,AUY,SNDK,AEM,
YUM,M,GOOG,AMZN,
FB,LULU,GMCR,ZNGA,MU......
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold UP
About market, indices showed their resiliency again by closing green. Internals also improved. TAPE is steady & is not showing any weakness yet. Stay engaged until we see a turn to the downside.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1461.05
RSI 70.64
CMF 0.076
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.12 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & .92 to 1 in Nasdaq
Net new 52 wk highs were leading by 173 in NYSE & 98 in Nasdaq
VIX closed Down 2.12% @ 13.88
Oil closed @ $91.98
Gold closed @ $171.20
Stocks which were UP 1% or more included BIDU,EXPE,LVS,LEN,
FFIV,AUY,SNDK,AEM,
YUM,M,GOOG,AMZN,
FB,LULU,GMCR,ZNGA,MU......
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold UP
About market, indices showed their resiliency again by closing green. Internals also improved. TAPE is steady & is not showing any weakness yet. Stay engaged until we see a turn to the downside.
BLOG does NOT give buy or sell.
Saleem
Indices UP .17% to .30%......NICE !!!!
Indices are UP after resting for two days.
S&P 500 @ 1462.94
RSI @ 71.12
Internals are positive
Oil Down $3.80
Gold UP 90 cents
Canadian $ Down 8 tick @ 102.52
VIX Down 2.26% @ 13.86
Portfolio is BIDU,DNKN,EXPE,LVS,LEN
Most stocks are UP
@ 201 following are down :
PANW,HPQ,JCP,PCLN,FCX,COH,SU,
LRCX,BRCM,BWLD,CCJ,ECA,MS,
YHOO,GS,IBN,CLF......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1462.94
RSI @ 71.12
Internals are positive
Oil Down $3.80
Gold UP 90 cents
Canadian $ Down 8 tick @ 102.52
VIX Down 2.26% @ 13.86
Portfolio is BIDU,DNKN,EXPE,LVS,LEN
Most stocks are UP
@ 201 following are down :
PANW,HPQ,JCP,PCLN,FCX,COH,SU,
LRCX,BRCM,BWLD,CCJ,ECA,MS,
YHOO,GS,IBN,CLF......
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 18, 2012
Indices closed Mixed......
Dow closed UP, other indices closed slightly lower.
S&P closed @ 1459.32
RSI @ 70.09
CMF @ 0.047
Internals were :
Down volume led by 1.80 to 1 in NYSE & 1.07 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 98 in NYSE & 72 in Nasdaq
VIX closed Down 2.81% @ 14.18
Oil closed @ $95.29
Gold closed @ $1771.20
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was showing resiliency today, which prompted me to buy stocks. TAPE is the ultimate verdict despite what may be a negative possibility. TAPE did not correct as much as is normal, after such a huge run. Looks like we may have a green Wednesday. Keep an eye on downturn if & when it occurs.
BLOG does NOT give buy or sell.
Saleem
S&P closed @ 1459.32
RSI @ 70.09
CMF @ 0.047
Internals were :
Down volume led by 1.80 to 1 in NYSE & 1.07 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 98 in NYSE & 72 in Nasdaq
VIX closed Down 2.81% @ 14.18
Oil closed @ $95.29
Gold closed @ $1771.20
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was showing resiliency today, which prompted me to buy stocks. TAPE is the ultimate verdict despite what may be a negative possibility. TAPE did not correct as much as is normal, after such a huge run. Looks like we may have a green Wednesday. Keep an eye on downturn if & when it occurs.
BLOG does NOT give buy or sell.
Saleem
Indices down .09% to .29%.....
Market is trying to consolidate near closing level.
S&P 500 @ 1457.01
RSI @ 68.47...down from 78 level so far
Internals are negative
Oil Down $1.08
Gold Down 40 cents
Canadian $ UP 4 tick @ 102.63
VIX Down 1.1% @ 14.43
In my portfolio :
Bought BIDU @ $112.72
Bought DNKN @ $30.03
Bought EXPE @ $55.11
Bought LEN @ $35.77
Portfolio is BIDU,DNKN,EXPE,LVS,LEN
Exposure 70%
Most stocks are down
@ 1.51 following are UP
DNKN,FFIV,GOOG,AMZN,PANW,FB,BRCM,
ARNA,MCD,SLW,CCJ,SINA.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1457.01
RSI @ 68.47...down from 78 level so far
Internals are negative
Oil Down $1.08
Gold Down 40 cents
Canadian $ UP 4 tick @ 102.63
VIX Down 1.1% @ 14.43
In my portfolio :
Bought BIDU @ $112.72
Bought DNKN @ $30.03
Bought EXPE @ $55.11
Bought LEN @ $35.77
Portfolio is BIDU,DNKN,EXPE,LVS,LEN
Exposure 70%
Most stocks are down
@ 1.51 following are UP
DNKN,FFIV,GOOG,AMZN,PANW,FB,BRCM,
ARNA,MCD,SLW,CCJ,SINA.....
BLOG does NOT give buy or sell.
Saleem
Monday, September 17, 2012
Indices closed down .17% to .31%......
Indices closed down slightly after a huge run.
S&P 500 closed @ 1461.19
RSI @ 71.45
CMF @ 0.081
Internals were :
Down Volume led by 2.64 to 1 in NYSE & 2.03 to 1 in Nasdaq
Declining stocks led by 2.21 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 124 in NYSE & 73 in Nasdaq
VIX closed UP .55% @ 14.59
AH News :
AMD Down 7.48%
OCZ Down 8.30%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, Internals of the market were much weaker than indices.I think we need several days of downside action to get rid of "froth" from indices. Today CMF has come down also. A healthy market is which corrects 40% to 50% of its UP move. It does not have to happen in one down move but may take several week in steps to do that. We had a major move UP, its time to digest those gains.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1461.19
RSI @ 71.45
CMF @ 0.081
Internals were :
Down Volume led by 2.64 to 1 in NYSE & 2.03 to 1 in Nasdaq
Declining stocks led by 2.21 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 124 in NYSE & 73 in Nasdaq
VIX closed UP .55% @ 14.59
AH News :
AMD Down 7.48%
OCZ Down 8.30%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, Internals of the market were much weaker than indices.I think we need several days of downside action to get rid of "froth" from indices. Today CMF has come down also. A healthy market is which corrects 40% to 50% of its UP move. It does not have to happen in one down move but may take several week in steps to do that. We had a major move UP, its time to digest those gains.
BLOG does NOT give buy or sell.
Saleem
Indices down .28% to .44%.......
As expected, indices are pulling back for a well deserved rest.
S&P 500 @ 1461.69
RSI @ 72.25
Internals are negative by almost 2 to 1
Oil Down 27 cents
Gold Down $2.00
Canadian $ Down 24 tick @ 102.74
VIX UP .55% @ 14.59
Portfolio is LVS
Most stocks are down
@ 1.40 following are green :
FFIV,CMG,PCLN,AAPL,PANW,MCD,EGO,
IBN......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1461.69
RSI @ 72.25
Internals are negative by almost 2 to 1
Oil Down 27 cents
Gold Down $2.00
Canadian $ Down 24 tick @ 102.74
VIX UP .55% @ 14.59
Portfolio is LVS
Most stocks are down
@ 1.40 following are green :
FFIV,CMG,PCLN,AAPL,PANW,MCD,EGO,
IBN......
BLOG does NOT give buy or sell.
Saleem
Sunday, September 16, 2012
What is market going to do in Triple Witching week ?
SO..here we are sitting @ 1465.77 after hitting high of 1474.51, now the logical question is what next?
This week is triple witching, which means higher than normal volatility.
Technicians are split about market direction, some are euphoric that we go higher & higher ...because no one believes in this rally & expecting immediate pullback...that is a "contrary indicator" for them.....
Other technician are pointing to pullback on Friday from highs & VIX jumping 3.27%..a sure reason to expect pullback for few days......
I normally see technicians coming to the same conclusion, but NOT this time......?
S&P 500 & DOW sitting @ five year high, while Nasdaq @ 11 year high.....
Based on RSI @ 74.74, S&P 500 looks overbought.......
Risk / Reward ratio is certainly challenging to say the least......
S&P 500 has gone from 1329.24 to 1474.51 a gain of 145.27 points or gain of 10.92% in a span of eight straight week.......that needs digestion time for sure......
Overall trend is "firmly UP" but not in a straight line......
Market NEVER goes UP in a straight line, it pauses for few days to few weeks...then resumes uptrend.
I definitely believe that there is a pullback coming which may last for few days, sometimes these pullbacks are sharp.......
Many traders get very euphoric near TOP, thanks to CNBC & Jimmy the Cramer who gets most excited when stocks have moved UP 20% or more.....then he shouts buy,buy,buy......not before.
SO, you can stay the course & take the pullback in stride or book profit & wait for another entry...it all depends on your OWN comfort level & read of this market.
I have always recommended strongly to book profit, this way market cannot take your profit to a loss scenario.
Good luck with your market call.
BLOG does NOT give buy or sell.
Saleem
This week is triple witching, which means higher than normal volatility.
Technicians are split about market direction, some are euphoric that we go higher & higher ...because no one believes in this rally & expecting immediate pullback...that is a "contrary indicator" for them.....
Other technician are pointing to pullback on Friday from highs & VIX jumping 3.27%..a sure reason to expect pullback for few days......
I normally see technicians coming to the same conclusion, but NOT this time......?
S&P 500 & DOW sitting @ five year high, while Nasdaq @ 11 year high.....
Based on RSI @ 74.74, S&P 500 looks overbought.......
Risk / Reward ratio is certainly challenging to say the least......
S&P 500 has gone from 1329.24 to 1474.51 a gain of 145.27 points or gain of 10.92% in a span of eight straight week.......that needs digestion time for sure......
Overall trend is "firmly UP" but not in a straight line......
Market NEVER goes UP in a straight line, it pauses for few days to few weeks...then resumes uptrend.
I definitely believe that there is a pullback coming which may last for few days, sometimes these pullbacks are sharp.......
Many traders get very euphoric near TOP, thanks to CNBC & Jimmy the Cramer who gets most excited when stocks have moved UP 20% or more.....then he shouts buy,buy,buy......not before.
SO, you can stay the course & take the pullback in stride or book profit & wait for another entry...it all depends on your OWN comfort level & read of this market.
I have always recommended strongly to book profit, this way market cannot take your profit to a loss scenario.
Good luck with your market call.
BLOG does NOT give buy or sell.
Saleem
Friday, September 14, 2012
Indices closed UP .40% to .89%.....NICE !!!!
Indices are making multi-year highs again.
S&P 500 closed @ 1465.77, high was 1474.51
RSI @ 74.74
CMF @ 0.121
Internals were :
UP volume led by 2.71 to 1 in NYSE & 3.49 to 1 in Nasdaq
Advancing stocks led by 2.19 to 1 in NYSE & 1.91 to 1 in Nasdaq
Net new 52 wk highs were leading by 465 in NYSE & 217 in Nasdaq
VIX UP 3.27% @14.51
Oil closed @ $99
Gold closed @ $1772.10
Canadian $ closed @ 102.90, 13 month high
In my portfolio :
Sold AUY
Portfolio is LVS
Stocks which were UP 2% or more included LVS,
LEN,TCK,BIDU,CLF,LNKD,SU,FB,ZNGA,
JDSU,CIEN,FNSR,AEM,FCX,FFIV......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1465.77, high was 1474.51
RSI @ 74.74
CMF @ 0.121
Internals were :
UP volume led by 2.71 to 1 in NYSE & 3.49 to 1 in Nasdaq
Advancing stocks led by 2.19 to 1 in NYSE & 1.91 to 1 in Nasdaq
Net new 52 wk highs were leading by 465 in NYSE & 217 in Nasdaq
VIX UP 3.27% @14.51
Oil closed @ $99
Gold closed @ $1772.10
Canadian $ closed @ 102.90, 13 month high
In my portfolio :
Sold AUY
Portfolio is LVS
Stocks which were UP 2% or more included LVS,
LEN,TCK,BIDU,CLF,LNKD,SU,FB,ZNGA,
JDSU,CIEN,FNSR,AEM,FCX,FFIV......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, September 13, 2012
Indices closed UP 1.33% to 1.63% on QE3.....NICE !!!!
Ben Bernanke gave market what they were wishing but NOT expecting.
All indices made another multi-year high.
S&P 500 closed @ 1459.99, high today was 1463.76
RSI @ 73.30
CMF @ 0.178
Internals were :
UP volume led by 9.74 to 1 in NYSE & 3.83 to 1 in Nasdaq
Advancing stocks led by 3.66 to 1 in NYSE & 2.66 to 1 in Nasdaq
Net new 52 wk highs were leading by 349 in NYSE & 198 in Nasdaq
VIX down 11.08% @ 14.05
Oil closed @ $98.31
Gold closed @ $1772.10
Stocks which were UP 2% or more included LVS,AUY,
EXPE,TCK,AEM,GG,BIDU,KORS,FCX,GOOG,
MLNX,PANW,NTES,CLF,SU,MU,FNSR,C,
QCOM,X,STLD,EGO,SLW,SINA,MFC,
ECA,BAC,MS,WYNN,SNE,GS,IBN.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Ben Euphoria is @ its peak, which is a contrary indicator. I expect market to mark time & pull back to deal with "severe overbought condition". Again i will be taking equity out of this market. End of October may be an opportune time to be "fully invested".
BLOG does NOT give buy or sell.
Saleem
All indices made another multi-year high.
S&P 500 closed @ 1459.99, high today was 1463.76
RSI @ 73.30
CMF @ 0.178
Internals were :
UP volume led by 9.74 to 1 in NYSE & 3.83 to 1 in Nasdaq
Advancing stocks led by 3.66 to 1 in NYSE & 2.66 to 1 in Nasdaq
Net new 52 wk highs were leading by 349 in NYSE & 198 in Nasdaq
VIX down 11.08% @ 14.05
Oil closed @ $98.31
Gold closed @ $1772.10
Stocks which were UP 2% or more included LVS,AUY,
EXPE,TCK,AEM,GG,BIDU,KORS,FCX,GOOG,
MLNX,PANW,NTES,CLF,SU,MU,FNSR,C,
QCOM,X,STLD,EGO,SLW,SINA,MFC,
ECA,BAC,MS,WYNN,SNE,GS,IBN.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Ben Euphoria is @ its peak, which is a contrary indicator. I expect market to mark time & pull back to deal with "severe overbought condition". Again i will be taking equity out of this market. End of October may be an opportune time to be "fully invested".
BLOG does NOT give buy or sell.
Saleem
Indices UP .77% to .98% on QE3......NICE !!!!
Indices are on a roll on QE3 making new multi-year highs.
Fed is going to buy bonds until Job situation improves...there is no deadline to this move..it can go on until job situation improves.
S&P 500 @ 1449.05
RSI @ 70.46
Internals are positive by 2 to 1
Oil UP 82 cents
Gold UP $26
Canadian $ UP 26 tick @ 102.73 new 52 wk high
VIX Down 6.96% @ 14.70
In my portfolio :
Sold EXPE
Sold LEN
Sold SNDK
Sold TCK
Portfolio is LVS & AUY
Most stocks are UP
@ 1.19 following are red :
JCP,ZNGA,LRCX.....
BLOG does NOT give buy or sell.
Saleem
Fed is going to buy bonds until Job situation improves...there is no deadline to this move..it can go on until job situation improves.
S&P 500 @ 1449.05
RSI @ 70.46
Internals are positive by 2 to 1
Oil UP 82 cents
Gold UP $26
Canadian $ UP 26 tick @ 102.73 new 52 wk high
VIX Down 6.96% @ 14.70
In my portfolio :
Sold EXPE
Sold LEN
Sold SNDK
Sold TCK
Portfolio is LVS & AUY
Most stocks are UP
@ 1.19 following are red :
JCP,ZNGA,LRCX.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 12, 2012
Indices closed UP .07% to .32%.....NICE !!!!!
Indices kept marching UP, making new multi-year highs in DOW & S&P 500.
S&P 500 closed @ 1436.56
RSI @ 65.99
CMF @ 0.141
Internals were :
UP volume led by 1.77 to 1 in NYSE & 1.66 to 1 in Nasdaq
Advancing stocks led by 1.90 to 1 in NYSE & 1.44 to 1 in Nasdaq
Net new 52 wk highs were leading by 230 in NYSE & 67 in Nasdaq
VIX Down 3.72% @ 15.80
Oil Down @ $97.01
Gold Down @ $1733.70
Stocks which were UP 1% or more included LVS,LEN,SNDK,AUY,
GG,CMG,AAPL,LNKD,
FB,AGU,NTES,V,ZNGA,
MU,BRCM,C...
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About AAPL, iPhone5 was unveiled & it was acceptable based on delivering as expected. Stock went UP based on its flawless execution, product announced on Wednesday & delivery starts on Friday...that is exceptional.
About market, Ben Bernanke takes the stage, statement @ 1230 PM & Forecast @ 2 PM with Q&A. Based on TAPE & momentum, I expect either a newer approach or further extension of current policy, which should be enough to keep this rally going. Fed mandate is about economy & Jobs, both are weak & can get weaker, thus Fed intervention will not be a surprise. Expect rally to continue.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1436.56
RSI @ 65.99
CMF @ 0.141
Internals were :
UP volume led by 1.77 to 1 in NYSE & 1.66 to 1 in Nasdaq
Advancing stocks led by 1.90 to 1 in NYSE & 1.44 to 1 in Nasdaq
Net new 52 wk highs were leading by 230 in NYSE & 67 in Nasdaq
VIX Down 3.72% @ 15.80
Oil Down @ $97.01
Gold Down @ $1733.70
Stocks which were UP 1% or more included LVS,LEN,SNDK,AUY,
GG,CMG,AAPL,LNKD,
FB,AGU,NTES,V,ZNGA,
MU,BRCM,C...
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About AAPL, iPhone5 was unveiled & it was acceptable based on delivering as expected. Stock went UP based on its flawless execution, product announced on Wednesday & delivery starts on Friday...that is exceptional.
About market, Ben Bernanke takes the stage, statement @ 1230 PM & Forecast @ 2 PM with Q&A. Based on TAPE & momentum, I expect either a newer approach or further extension of current policy, which should be enough to keep this rally going. Fed mandate is about economy & Jobs, both are weak & can get weaker, thus Fed intervention will not be a surprise. Expect rally to continue.
BLOG does NOT give buy or sell.
Saleem
Indices UP .20% to .29%......NICE !!!!
Indices are in green again after German court said OK to bailout.
S&P 500 @ 1437.74
Internals are positive.
Oil Down 21 cents
Gold Down $1.40
Canadian $ Down 17 tick @ 102.55
VIX Down 2.38% @ 16.02
In my portfolio :
Added 55% AUY @ $17.18
Portfolio is EXPE,LVS,LEN,SNDK,TCK,AUY
Exposure 103%
Most stocks are UP
@ 2.00 following are red :
TCK,AEM,JCP,BIDU,YUM,KORS,MLNX,PANW,
COH,CLF,MOS,MCD,STLD,AEM,CCJ,ECA,MGA,
BAC.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1437.74
Internals are positive.
Oil Down 21 cents
Gold Down $1.40
Canadian $ Down 17 tick @ 102.55
VIX Down 2.38% @ 16.02
In my portfolio :
Added 55% AUY @ $17.18
Portfolio is EXPE,LVS,LEN,SNDK,TCK,AUY
Exposure 103%
Most stocks are UP
@ 2.00 following are red :
TCK,AEM,JCP,BIDU,YUM,KORS,MLNX,PANW,
COH,CLF,MOS,MCD,STLD,AEM,CCJ,ECA,MGA,
BAC.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 11, 2012
Dow closed @ highest level since Dec 2007....NICE !!!!
Indices closed UP by .02% to .52%. Dow made the highest close since Dec 2007.
S&P 500 closed @ 1433.56
RSI @ 64.84
CMF 0.120
Internals were :
UP volume led by 3.11 to 1 in NYSE & 1.42 to 1 in Nasdaq
Advancing stocks led by 2.06 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 64 in Nasdaq
VIX closed UP .8% @ 16.41
Oil closed @ $97.17
Gold closed @ $1734.90
Stocks which were UP 1% or more included EXPE,SNDK,TCK,
JCP,CLF,PCLN,MA,V,GMCR,FB,JDSU,FNSR,C,DNKN,
YUM,AGU.....
AH Futures UP
AH Asian Markets UP
AH Gold UP
AH Oil Down
About market, German courts on Wednesday, should give its blessing to Germany's role in ECB financing.Thursday, Fed should "improve their language" in their statement. All this should be a positive catalyst for the market. I suggest stay engaged till we see a defined reversal in the market.Near 1500 we may see hesitation.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1433.56
RSI @ 64.84
CMF 0.120
Internals were :
UP volume led by 3.11 to 1 in NYSE & 1.42 to 1 in Nasdaq
Advancing stocks led by 2.06 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 64 in Nasdaq
VIX closed UP .8% @ 16.41
Oil closed @ $97.17
Gold closed @ $1734.90
Stocks which were UP 1% or more included EXPE,SNDK,TCK,
JCP,CLF,PCLN,MA,V,GMCR,FB,JDSU,FNSR,C,DNKN,
YUM,AGU.....
AH Futures UP
AH Asian Markets UP
AH Gold UP
AH Oil Down
About market, German courts on Wednesday, should give its blessing to Germany's role in ECB financing.Thursday, Fed should "improve their language" in their statement. All this should be a positive catalyst for the market. I suggest stay engaged till we see a defined reversal in the market.Near 1500 we may see hesitation.
BLOG does NOT give buy or sell.
Saleem
Indices UP .27% to .70%......NICE !!!!
Indices are back on track of going UP.
S&P 500 @ 1435.69
Internals are positive
Oil UP 47 cents
Gold UP $3.50
Canadian $ UP 54 tick @ 102.83
VIX Down 1.6% @ 16.02
Portfolio is EXPE,LVS,LEN,SNDK,TCK,AUY
Most stocks are UP
@ 1.56 following are down :
AUY,KORS,M,GOOG,AMZN,PANW,
NTES,COH,LRCX,MU,ARNA,CCJ,
APKT.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1435.69
Internals are positive
Oil UP 47 cents
Gold UP $3.50
Canadian $ UP 54 tick @ 102.83
VIX Down 1.6% @ 16.02
Portfolio is EXPE,LVS,LEN,SNDK,TCK,AUY
Most stocks are UP
@ 1.56 following are down :
AUY,KORS,M,GOOG,AMZN,PANW,
NTES,COH,LRCX,MU,ARNA,CCJ,
APKT.....
BLOG does NOT give buy or sell.
Saleem
Monday, September 10, 2012
Indices closed down .39% to 1.03%......
Indices drifted lower, closing near lows of the day.
S&P 500 closed @ 1429.08
RSI 63.12
CMF 0.144
Internals were :
Down volume led by 2.16 to 1 in NYSE & 2.80 to 1 in Nasdaq
Declining stocks led by 1.50 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk highs were leading by 193 in NYSE & 77 in Nasdaq
VIX rocketed UP 13.21% @ 16.28.....HFT must be involved in this "crazy jump" with no relevance to the weakness in Dow or S&P 500 ????
Oil closed UP @ $96.54
Gold closed Down @ $1731.80
Stocks which closed UP included CMG,JCP,MA,GMCR,YUM,
FCX,PANW,MCD,BJRI,WYNN,SNE.......
AH ER PANW Down 9.55%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, today was profit taking after multi year highs. S&P 500 made a new high today. I personally believe that this pullback was normal, after such a huge run. Any weakness to be bought. We should resume our march to higher highs, could be as soon as Tuesday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1429.08
RSI 63.12
CMF 0.144
Internals were :
Down volume led by 2.16 to 1 in NYSE & 2.80 to 1 in Nasdaq
Declining stocks led by 1.50 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk highs were leading by 193 in NYSE & 77 in Nasdaq
VIX rocketed UP 13.21% @ 16.28.....HFT must be involved in this "crazy jump" with no relevance to the weakness in Dow or S&P 500 ????
Oil closed UP @ $96.54
Gold closed Down @ $1731.80
Stocks which closed UP included CMG,JCP,MA,GMCR,YUM,
FCX,PANW,MCD,BJRI,WYNN,SNE.......
AH ER PANW Down 9.55%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, today was profit taking after multi year highs. S&P 500 made a new high today. I personally believe that this pullback was normal, after such a huge run. Any weakness to be bought. We should resume our march to higher highs, could be as soon as Tuesday.
BLOG does NOT give buy or sell.
Saleem
Indices down .05% to .60%.....
Indices are down slightly, after huge moves last week.
S&P 500 @ 1435.16, after hitting new high of 1438.74
RSI @ 67.72
Internals are mostly positive.
Oil Down 38 cents
Gold Down $8.90
Canadian $ UP 15 tick @ 102.38, a new 52 wk high
VIX UP 2.99% @ 14.81
In my portfolio :
Bought AUY @ $17.66
Portfolio is EXPE,LVS,LEN,SNDK,TCK,AUY
Exposure 100%
Most stocks are UP
@ 2.02 following are down :
EXPE,LVS,LEN,AUY,AEM,GG,
PCLN,KORS,AAPL,AMZN,
GOOG,LNKD,AGU,MLNX,
V,CIEN,MOS,SINA,NTES,
MS,GS.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1435.16, after hitting new high of 1438.74
RSI @ 67.72
Internals are mostly positive.
Oil Down 38 cents
Gold Down $8.90
Canadian $ UP 15 tick @ 102.38, a new 52 wk high
VIX UP 2.99% @ 14.81
In my portfolio :
Bought AUY @ $17.66
Portfolio is EXPE,LVS,LEN,SNDK,TCK,AUY
Exposure 100%
Most stocks are UP
@ 2.02 following are down :
EXPE,LVS,LEN,AUY,AEM,GG,
PCLN,KORS,AAPL,AMZN,
GOOG,LNKD,AGU,MLNX,
V,CIEN,MOS,SINA,NTES,
MS,GS.....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 9, 2012
Indices are all set for more new highs.....
Indices are setting the stage for more gains.
S&P 500 closed @ absolute high on Friday @ 1437.92.
Friday's gain is more important as it came on "downbeat Jobs data". Indices should have pulled back "substantially"...but it did not on bad news. Actually we closed @ highest point in S&P 500. This is a strong signal that we are going "further UP".
Many traders are counting on what could go wrong, but indices have ignored majority of "wrongs"
TAPE is relieved that, ECB has come "full force" to defend European Economy & Euro. IMF is also backing & will participate in ECB plan.
Many non-events are being talked about, like German verdict or Fed move...those are not going to be "the key driver of world stock market"....it was all along ECB & they have come through.
TAPE has given its verdict "over & over again" that ECB matters......
Now the question IS.......?
Where do we go from here ?
I personally believe that S&P 500 could march towards 1500, overbought conditions can be monitored by keeping an eye on RSI.....currently its @ 69.34..it can easily go towards 80 area based on current strength.
Any pullbacks, should be viewed as "normal" in a strong bull market.
I have not seen this kind of stable market in a long time, strategy needs to reflect that. Most stocks are getting stronger & stronger going into 80 RSI..a sign of a very strong TAPE.
Chinese slowdown should reverse soon. & will go to normalized GDP growth of around 9%.
Indian economy should also emerge from their slowdown of 5% GDP towards 7% GDP
US economy is showing pulse if one can "ignore biased political outburst"
Canadian economy will surge once Chinese GDP goes in growth mode. Canada is heavily dependent on Commodities export.
With ECB decision & surging Euro, confidence in EU zone will gradually return.
All of the above is very good for "psychological boost" to investors confidence worldwide.
SO..be OPTIMISTIC as TAPE has turned for the BETTER.
Be diversified & be confident, as EQUITIES have once again come around, to be the-best future investment.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ absolute high on Friday @ 1437.92.
Friday's gain is more important as it came on "downbeat Jobs data". Indices should have pulled back "substantially"...but it did not on bad news. Actually we closed @ highest point in S&P 500. This is a strong signal that we are going "further UP".
Many traders are counting on what could go wrong, but indices have ignored majority of "wrongs"
TAPE is relieved that, ECB has come "full force" to defend European Economy & Euro. IMF is also backing & will participate in ECB plan.
Many non-events are being talked about, like German verdict or Fed move...those are not going to be "the key driver of world stock market"....it was all along ECB & they have come through.
TAPE has given its verdict "over & over again" that ECB matters......
Now the question IS.......?
Where do we go from here ?
I personally believe that S&P 500 could march towards 1500, overbought conditions can be monitored by keeping an eye on RSI.....currently its @ 69.34..it can easily go towards 80 area based on current strength.
Any pullbacks, should be viewed as "normal" in a strong bull market.
I have not seen this kind of stable market in a long time, strategy needs to reflect that. Most stocks are getting stronger & stronger going into 80 RSI..a sign of a very strong TAPE.
Chinese slowdown should reverse soon. & will go to normalized GDP growth of around 9%.
Indian economy should also emerge from their slowdown of 5% GDP towards 7% GDP
US economy is showing pulse if one can "ignore biased political outburst"
Canadian economy will surge once Chinese GDP goes in growth mode. Canada is heavily dependent on Commodities export.
With ECB decision & surging Euro, confidence in EU zone will gradually return.
All of the above is very good for "psychological boost" to investors confidence worldwide.
SO..be OPTIMISTIC as TAPE has turned for the BETTER.
Be diversified & be confident, as EQUITIES have once again come around, to be the-best future investment.
BLOG does NOT give buy or sell.
Saleem
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