Indices kept marching UP, making new multi-year highs in DOW & S&P 500.
S&P 500 closed @ 1436.56
RSI @ 65.99
CMF @ 0.141
Internals were :
UP volume led by 1.77 to 1 in NYSE & 1.66 to 1 in Nasdaq
Advancing stocks led by 1.90 to 1 in NYSE & 1.44 to 1 in Nasdaq
Net new 52 wk highs were leading by 230 in NYSE & 67 in Nasdaq
VIX Down 3.72% @ 15.80
Oil Down @ $97.01
Gold Down @ $1733.70
Stocks which were UP 1% or more included LVS,LEN,SNDK,AUY,
GG,CMG,AAPL,LNKD,
FB,AGU,NTES,V,ZNGA,
MU,BRCM,C...
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About AAPL, iPhone5 was unveiled & it was acceptable based on delivering as expected. Stock went UP based on its flawless execution, product announced on Wednesday & delivery starts on Friday...that is exceptional.
About market, Ben Bernanke takes the stage, statement @ 1230 PM & Forecast @ 2 PM with Q&A. Based on TAPE & momentum, I expect either a newer approach or further extension of current policy, which should be enough to keep this rally going. Fed mandate is about economy & Jobs, both are weak & can get weaker, thus Fed intervention will not be a surprise. Expect rally to continue.
BLOG does NOT give buy or sell.
Saleem
14 comments:
Saleem
Good blog over view--well said
please explain to me this:
RSI @ 65.99 is this DOW??????
CMF @ 0.141 is this dow too???
Sent you a research report on AUY
APPLE news
they are releasing a new nano and iTouch
I own them both and I love em... The NANO I have is cool--the new release is even better. The iPod touch is awesome
I still own my boring REITS and SCCO is my yellow copper play--looking for an up day perhaps sell it?
DOW Futures are down -$25 8AM
VBTA--comments appreciated..
C
Hi C,
I write all the stat about S&P 500..unless i identify as Dow or Nasdaq...
Both stat are about S&P 500.
Thanks for AUY..i just got up..will check it out.
Saleem
Hey Saleem,
Sold the MLNX at 101.50--I'm just too highly uncomfortable there. Just my luck it will be up $10 now today haha!
Stocktrader
Hey Saleem,
Bought more TZA at 14.67--that should be enough for now and I'll watch to see things develop.
Stocktrader
Hi Stocktrader,
Afternoon will be very interesting..but i am @ my doctor from 1.30 PM onwards.
Good luck with your full position on TZA.
Saleem
Hey Saleem,
Hope everything checks out great at the doctor!
I suspect we get a major selloff by the end of tomorrow hence my positioning. I think the overall selloff will be worse if the Fed actually *does* do QE today. The action specifically today could be opposite the read tomorrow, so I'm careful not to judge based on today's reaction to the Fed--tomorrow will be the real "tell".
All my opinions of course.
Stocktrader
Hi Stocktrader,
It is my annual visit to the doctor to renew prescriptions.....not a great believer in over-monitoring & un-necessary testing.....
I am into vitamin therapy for my health..so far its working.....
My doctor is not happy with my 1 visit per year..he loves to see me every week..never happened....
I think market goes higher from here.......
Saleem
Hey Saleem,
If what you are doing therapy-wise is keeping you healthy, then there isn't much he can say!
Glad to hear things are overall going well with health :).
Stocktrader
Hey Saleem,
Sold SNDK at 44.84. I find it concerning that MS raised the price target to $52 and yet the stock is down on an up day. I wonder if the Toshiba news from two days ago is finally impacting?
Also, given that we question OCZ's execution, maybe the NAND flash situation isn't as tight as they made it sound? Overall though, it's the price action that tells me something might be "off".
Stocktrader
Hi Stocktrader,
SNDK high from yesterday is $45.47...i expect it to go through that after Fed statement....
There was some Put activity on Tuesday @ $45 strike.....
I am watching SNDK closely & see how it goes after 1230 statement......
Saleem
Hey Saleem,
Bought more TZA at 14.45--missed my 14.35 by half a second.
Stocktrader
Hey Saleem,
Very powerful statement. I may have been hasty in the last round of TZA buying--I'll know by tomorrow.
Stocktrader
Hey Saleem,
Sold PFPT at 15.66118 after a nice run recently.
Stocktrader
Hey Saleem,
I still managed a 0.6% overall portfolio gain despite the large hedge. Obviously, that is disappointing, though. I will be interested to see the market moves tomorrow.
Stocktrader
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