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
7 comments:
SALEEM
The blog is reading my mind....Such as it is!
Looking a getting more GGN
I am just hunting for the next buy
Looking at HEK, PM, BGS an old favorite, K, SPG.
I kinda like HEK at $4.40 it is under priced here.
Good Luck ----stay the course and stay in vested
PM is up $35...Gold up, Shipping rates are in a stealth rally..
C
Hi C,
I am known to be Psychic..can read many minds @ the same time....
Good luck with your buys today.
Saleem
Hey Saleem,
Well...I hestitated on my OCZ plan to sell if it got back above $4 (which it did this morning), and now its at $3.47. I feel like this is Q-end dumping to get it off the books, but often that is followed by at least a little Q-beginning rise as any possible institutional seller is gone. Suggestions?
Stocktrader
Hi Stocktrader,
I know it is very tough to book a loss on a stock in portfolio, but OCZ is dragging your portfolio down & is breaking down to new lows.....
My suggestion is same..move on to better behaving stocks.....
Saleem
Hey Saleem,
I don't mind taking a loss--I just want a sell price that isn't distorted by Q-end issues. I'll probably keep holding a few days into the next quarter. It is a fairly small position at this point, so it can't hurt me much more...
Stocktrader
Hey Saleem,
I think CRUS looks good here. They stole ADNC's business (as I well know) and had a great presence in the top smartphones anyways. Also, technically the chart looks like it rested long enough.
Stocktrader
Hi Stocktrader,
It is a good idea looking @ CRUS...the only thing which brought it down was iPhone5 supply issue which may impact Q4...based on Gene Munster....
Saleem
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