Nasdaq closed in green, while other indices closed near high of the day, but down.
S&P 500 closed @ 1404.94
RSI @ 54.96
CMF @ 0.180
Internals were :
UP volume led by 1.04 to 1 in NYSE & 1.13 to 1 in Nasdaq
Advancing stocks led by 1.42 to 1 in NYSE & 1.64 to 1 in Nasdaq
Net new 52 wk highs were leading by154 in NYSE & 67 in Nasdaq
VIX closed UP 2.92% @ 17.98
Oil closed @ $95.30
Gold closed @ $1696.00
Stocks which were UP 1% or more included EXPE, LEN,
BIDU,LULU,AAPL,YELP,PANW,BWLD,ARNA,EGO,
SLW,SINA,MS,YHOO,IBN......
AH Futures Down
AH Asian Markets Down
AH Gold Down
AH Oil UP
About market, one has to be impressed with TAPE these day's.Despite poor economic data, we managed to erase most of the losses today. TAPE has the feel, that it wants to go UP, just waiting for a trigger. We MAY get that trigger on Thursday from ECB......
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Sold half my YELP at 25.15--what a crazy ride!
Stocktrader
Hey Saleem,
Sold the second half at 26.10. I'll kick myself if it breaks out now, but I feel like it needs to rest?
Stocktrader
Hi Stocktrader,
You had one hell of a ride in YELP....
Great Pick$$$$$
Saleem
Hey Saleem,
I finally bought some GRPN for the IRA. It's about the same speculative position size as my P, and I got it at 4.22984. I really think they might have avenues to hit mobile consumers, like offering a pizza coupon through your mobile phone if you're near a pizza place? Maybe that's just fanciful, but I'm willing to buy a stock with a possibly changing chart and a good risk/reward ratio at these levels and see what kind of news flow comes next.
Stocktrader
Hey Saleem,
There were some really interesting comments from YELP at a presentation today (which drove the rally):
Yelp (YELP) CEO Jeremy Stoppleman says click-through rate on mobile web traffic is "significantly higher" than what company gets on desktop. Estimates 25% of unique users come from mobile. Says Yelp mobile app being used on 7.2M mobile devices monthly. Says seeing faster growth on mobile than on desktop web. Says move to mobile "disintermediates" Google (GOOG) and drives traffic directly to Yelp. Says mobile platform strong for Yelp, which diversifies Yelp and reduces platform risk.
Interesting to say the least. It will remain on my radar and hopefully I can buy back cheaper in coming days just based on a technical pullback into heavy resistance above $26.
Stocktrader
Hi Stocktrader,
YELP has certainly proved that their business model is working.
Good luck with GRPN.
Saleem
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