Indices had the best day in three days when all closed in green.
S&P 500 closed @ 1461.05
RSI 70.64
CMF 0.076
Internals were :
UP volume led by 1.40 to 1 in NYSE & 1.12 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & .92 to 1 in Nasdaq
Net new 52 wk highs were leading by 173 in NYSE & 98 in Nasdaq
VIX closed Down 2.12% @ 13.88
Oil closed @ $91.98
Gold closed @ $171.20
Stocks which were UP 1% or more included BIDU,EXPE,LVS,LEN,
FFIV,AUY,SNDK,AEM,
YUM,M,GOOG,AMZN,
FB,LULU,GMCR,ZNGA,MU......
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold UP
About market, indices showed their resiliency again by closing green. Internals also improved. TAPE is steady & is not showing any weakness yet. Stay engaged until we see a turn to the downside.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteIn all fairness, the chart patterns are not that pretty--definitely topping indications still. The late day selloff turned a good day into a questionable one. I suspect a lot of the micro/smallcaps will do well going forward given the seasonal trends of higher participation, but I wonder about the rest of the market...
Stocktrader
Hi Stocktrader,
ReplyDelete@ this stage, we have to take one day @ a time......
Predicting market is an impossible business......
BUT being alert to any weakness is good.
Saleem
Hey Saleem,
ReplyDeleteI've grown interested in Z. Given the nascent housing rebound, and the increasing presence of potential homebuyers/sellers doing their own homework, Z seems perfectly placed to capitalize. With a valuation of only $1.33B, it seems worthy of further investigation.
Stocktrader
SALEEM
ReplyDeletedid not know a new message was up , made comment on NSC
I got a pre market order in at $68.32
Job less claims fell to 382,000,
PM is down ward --$45
How are your canadian currency buys going??
VBTA
C
Hey Saleem,
ReplyDeleteInteresting note on SNDK this morning:
06:22 EDT SSNLF, TOSBF, SNDK NAND flash suppliers to up product prices, DigiTimes reports
http://www.digitimes.com/news/a20120919PD225.html
I'm starting to wonder the credibility of that one article a week ago about Toshiba dropping prices?
Stocktrader
Hi Stocktrader,
ReplyDeleteZillow is a very interesting stock..i go to their site to check house prices in US.......
Saleem
Hi C,
ReplyDeleteCanadian $ is weak today, thanks to China, Europe & Oil prices....not happy so far.....
Saleem
Hi Stocktrader,
ReplyDeleteSNDK is down 25 cents.....pricing is the key.
There are too many agenda driven articles by vested interest.
Saleem
SALEEM
ReplyDeletewe maybe into a big sell of??? My banks are pooping
MS and NYB, C are down 1 to 3%
Look over my SFL it amy be a bargain here --below
$16, RSI is 51!!!
NSC is behaving as I thought at $67.60 now!
vbl
C
Hey Saleem,
ReplyDeleteSold NUE at 39.09 and bought Z at 45.125. I was only working with a half position, but that's a good start for now.
Stocktrader
Hi C,
ReplyDeleteSo far its not as bad as it could have been.....
Shipping is not what i want in my portfolio.....
I only follow 100 stocks closely & like to stick with those.
Saleem
Hi Stocktrader,
ReplyDeleteGood luck with Z.....
Saleem