Wednesday, September 19, 2012

Indices closed UP .10% to .15%.....NICE !!!!

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

12 comments:

stocktrader_1996 said...

Hey Saleem,

In 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

Stocks100 said...

Hi Stocktrader,

@ 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

stocktrader_1996 said...

Hey Saleem,

I'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

c said...

SALEEM
did 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

stocktrader_1996 said...

Hey Saleem,

Interesting 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

Stocks100 said...

Hi Stocktrader,

Zillow is a very interesting stock..i go to their site to check house prices in US.......

Saleem

Stocks100 said...

Hi C,

Canadian $ is weak today, thanks to China, Europe & Oil prices....not happy so far.....

Saleem

Stocks100 said...

Hi Stocktrader,

SNDK is down 25 cents.....pricing is the key.

There are too many agenda driven articles by vested interest.

Saleem

c said...

SALEEM

we 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

stocktrader_1996 said...

Hey Saleem,

Sold 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

Stocks100 said...

Hi C,

So 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

Stocks100 said...

Hi Stocktrader,

Good luck with Z.....

Saleem