Close was disappointing after so many down days.
S&P 500 closed @ 1432.84
RSI 45.55
CMF -0.207
Internals were :
UP volume led by 2.30 to 1 in NYSE & 1.37 to 1 in Nasdaq
Advancing stocks led by 1.96 to 1 in NYSE & 1.54 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 21 in Nasdaq
VIX closed Down 4.30% @ 15.59
Stocks closing green included APKT,BIDU,LVS,RIMM,YHOO,
JCP,DNKN,TCK,NFLX,CRUS,AEM,KORS,M,FCX,GOOG,
LNKD,AGU,AUY,COH,CLF,MA,V,LRCX,CIEN,C......
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, we closed near lows of the day, market chart for the day looks horrible. Hopefully, inner strength of market as reflected in internals & new highs will show in Indices. Booking profit is a priority with me as indices are not acting well. Once indices are stable then one can let the profit run.
BLOG does NOT give buy or sell.
Saleem
13 comments:
Hey Saleem,
Super hot IPO in WDAY coming public today. I might try to free up a half position and get some if the price is right. They are the new tech leader in human capital management cloud software for enterprises. Although ORCL has recently attempted to bolster its offering in this category, WDAY is still the leader in this niche and has substantial room to grow still.
Stocktrader
Hi Stocktrader,
IPO is a very risky trade most of the times especially on opening day....
Good luck in your strategy.
Saleem
Hey Saleem,
I just heard it was going to open above $40, which is too rich for me. I was thinking around $33... It is probably better this way anyways :).
Stocktrader
Hi Stocktrader,
WDAY is trading 70% higher...$47 area
Saleem
Hey Saleem,
Yes, amazing day for WDAY!
I'm hoping some of my other new tech plays get positive sentiment from the WDAY success even if WDAY is too expensive for me now.
Stocktrader
Hey Saleem,
Three different positive analyst notes for LNKD and it's down 2%? I'm confused. Hopefully we see better action by close but the beta trade seems weak in a lot of places again today...
Stocktrader
Hi Stocktrader,
On PANW..even IBD highlighted it last night as good technical action.....
Saleem
Hey Saleem,
Nice on PANW! It definitely looks resilient today.
Stocktrader
Hi Stocktrader,
Sorry ..i meant LNKD highlighted by IBD in its market wrap..
Saleem
Hey Saleem,
Oh! :)
If it closes back over $113, I'll be very pleased with the technical action. Of course I liked the analyst commentary today regardless.
Stocktrader
Hi Stocktrader,
Only reason i don't buy LNKD is ..only 50% margin in TD Waterhouse in Canada....
It is a very good buy NOW.....
Saleem
Hey Saleem,
Ah...
It is unfortunate to be constrained by non-company factors. I have those also as you know. You would think they'd try and make this easier for the little guys!
About market, selling exhausted yet?? It seems like we are stabilizing finally--maybe a precursor to a move up? This has been a tough week for beta.
Stocktrader
Hi Stocktrader,
Finally we seem to be on track for a better close in 5 trading days....iHope is UP which is a good thing...
Saleem
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