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
at

10 comments:

  1. stocktrader_1996September 18, 2012 at 6:37 AM

    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

    ReplyDelete
  2. Stocks100September 18, 2012 at 6:57 AM

    Hi Stocktrader,

    Saw that pre-announcement from NUE...looks reasonably better than what it could have been ...

    Good luck with NUE.

    Saleem

    ReplyDelete
  3. Stocks100September 18, 2012 at 7:32 AM

    Hi Stocktrader,

    Got bored & bought BIDU,DNKN,EXPE,LEN,LVS i had already.

    Saleem

    ReplyDelete
  4. stocktrader_1996September 18, 2012 at 7:35 AM

    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

    ReplyDelete
  5. Stocks100September 18, 2012 at 8:09 AM

    Hi Stocktrader,

    This is the longest i have stayed away from buying anything...3 days of no buying was like eternity.

    Saleem

    ReplyDelete
  6. stocktrader_1996September 18, 2012 at 8:16 AM

    Hey Saleem,

    Haha--I know that exact feeling!! :)

    Stocktrader

    ReplyDelete
  7. stocktrader_1996September 18, 2012 at 8:33 AM

    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

    ReplyDelete
  8. Stocks100September 18, 2012 at 8:36 AM

    Hi Stocktrader,

    Today we may close higher, but Wednesday could be another story.

    Saleem

    ReplyDelete
  9. cSeptember 18, 2012 at 9:37 AM

    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??

    ReplyDelete
  10. Stocks100September 18, 2012 at 9:48 AM

    Hi C,

    WOW..you are in a sell,sell,sell mode....always good to book profit.

    Good luck with your portfolio.

    Saleem

    ReplyDelete