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


8 comments:

c said...

SALEEM

Trying a new key board

Very good market wrap--thanks

LEN is a rocket for you and our BIDU seems resilient
I got bidu at $117-----lots of catch up to do.....

APPLE is a monster--I sold way to soon
sitting on cash now.....
looking at more GGN and studying USLN TGD, WHZ RNF--comments on them appreciated.....

We may get the sell off in October?
C

stocktrader_1996 said...

Hey c,

The market completely shrugged off great housing news, so I'd keep the powder dry for now, but watch the close for the real "tell"!

I still struggle with gold and gold stocks. I'm not sure what to do there, mostly because I think the US/global economy will be great next year and that might alleviate the need for further stimulus. They might have a short term run here still, but I find it tough to step in after such good gold news is out already.

Stocktrader

stocktrader_1996 said...

I'm also pretty sad I sold FIO when it's one of the ones I like the most for long term (along with SPLK/PFPT/PANW). Today's upgrade might have caused the final short squeeze which could be impressive. I'm still hoping for a pullback.

Stocktrader

Stocks100 said...

Hi C,

One of these days i will buy a new keyboard....original from ACER is not bad.....

Thanks for your note re LEN....one of my frequent $ maker.

BIDU..so far so good...IF it holds here..then its ready for Takeoff...

I do not follow any of the stock you mentioned, maybe Stocktrader or someone else may give their take.

Saleem

stocktrader_1996 said...

Hey Saleem,

I want so badly to just get rid of this hedge and buy all those stocks mentioned above (SPLK, PFPT, PANW, FIO). I'd feel so much better, but really, really exposed...it's eating me up.

Stocktrader

Stocks100 said...

Hi Stocktrader,

My opinion..sell the hedge 100%..& buy everything you want.....

This TAPE is strong enough for long exposure for now...

Saleem

c said...

SALEEM
did you catch the run up in S
SPRINT may surprise us all
so far my 1000 shares are OK

Saleem , my new key board is an apple blue tooth and very tiny--so fa a love affair
Good luck with the Acer keyboard, they ware down quick........
thanks
c

Stocks100 said...

Hi C,

My PC is 5 years old...just changed its power supply......i preserve things until they are obsolete.

S i do not follow..good for you ..its working.

Saleem