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
10 comments:
Hey Saleem,
Bought NUE at 39.25 with the half position I had available. The pre-announce looks good compared to what some might be expecting. If this level holds, it might set up a breakout above $41.
Stocktrader
Hi Stocktrader,
Saw that pre-announcement from NUE...looks reasonably better than what it could have been ...
Good luck with NUE.
Saleem
Hi Stocktrader,
Got bored & bought BIDU,DNKN,EXPE,LEN,LVS i had already.
Saleem
Hey Saleem,
You sound just like me! I can't help but be involved in companies I feel have potential, so I don't usually sit on the sidelines for long...
Good luck with the moves! :)
Stocktrader
Hi Stocktrader,
This is the longest i have stayed away from buying anything...3 days of no buying was like eternity.
Saleem
Hey Saleem,
Haha--I know that exact feeling!! :)
Stocktrader
Hey Saleem,
I'm starting to see the buy programs fade more quickly. Also, the small caps are lagging today. I think we have a downside leg coming.
Stocktrader
Hi Stocktrader,
Today we may close higher, but Wednesday could be another story.
Saleem
HELLO TO ALL
Saleem
I also posted this to older blog--I missed the updated posts--sorry --here it is again.
Sold a lot this AM
KMP, AGNC, SCCO NYB
SDRL did not meet my sell price....waiting
I still have
GGN
BIDU
CNQ
MS
Sprint
BME
ERF
FFC
HIX
PETDX
VNR
SDRL
I Lightened my load by 45%, 55% in cash
I guess my trigger finger said take the profits and run--keep the stinkers for a while longer and the closed end funds pay me to wait it out
For now I will watch and try and learn.
I am expecting gold and silver to go up and a correction.--Lets see if I got it right
Comments appreciated =by all!
VB to all
C
PS
take a look at WHZ, SULV, SUGD, GGN seem like safe moves??
Hi C,
WOW..you are in a sell,sell,sell mode....always good to book profit.
Good luck with your portfolio.
Saleem
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