Indices are marching to their own drum of green close.
S&P 500 closed @ 1460.91
RSI @ 60.31
CMF -0.136
Internals were :
UP volume led by 2.89 to 1 in NYSE & 1.05 to 1 in Nasdaq
Advancing stocks led by 2.29 to 1 in NYSE & 1.60 to 1 in Nasdaq
Net new 52 wk highs were leading by 220 in NYSE & 56 in Nasdaq
VIX closed Down .99% @ 15.07
Oil closed @ $92.12
Gold closed @ $1753.00
Stocks which closed UP 1% or more included BIDU,LEN,RIMM,YHOO,
AUY,AEM,EGO,JCP,TCK,
NFLX,FCX,AMZN,CLF,SU,
GOOG,GMCR,FB,ZNGA,JDSU,
C,QCOM,ARNA,X,CCJ,ECA,MS,
SNE,GS,AGU...
AH ER :
EBAY Down .41%
XLNX Down .56%
LRCX UP .95%
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, It is important to pay attention as to how we close, to get the strength of this TAPE. Indices are all set to make new 52 wk highs. It is important to be "in the market" instead of "telling the market what to do".....
PS...Chinese data came in as expected or better, Q3 GDP @ 7.4%, Industrial output 9.2%, Retail sales 14.2%......
BLOG does NOT give buy or sell.
Saleem
8 comments:
Saleem
As I said before! Labor numbers are manipulated>>>>
NOT ANY BETTER
The Labor Department reported weekly jobless claims rose to 388,000 last week from 342,000. Economists expected claims to rise to 365,000 from an initially-reported 339,000. The four-week average of claims, which helps smooth volatility, rose to 365,500 from 364,750.
there I said it, so kill me please
Hi C,
Four week average is a "real number"
I only worry about things i control...
Saleem
Hey Saleem,
I think CMG is a buy on the dip after earnings. The "competition" from Taco Bell is fictitious and even though CMG's Q3 might show decelerating growth due to people trying Taco Bell, I think Q4 numbers will be much better. If there is a dip, valuation should be much more compelling. I contend that possibly valuation is good here, but a dip would be great.
Stocktrader
Hi Stocktrader,
CMG is a great buy here in $286 area....as it has been beaten down for a month....$277 is a major support going back almost a year...
Even IF CMG drops AH...it MAY rebound above current levels.....pessimism is too deep.....a great CONTRARY indicator.
Saleem
Hey Saleem,
As I don't have the chance to after hours trade, I might pick up a half position in CMG today. I'm not sure yet, and I don't know what I'd sell, but I've actually been eyeing this trade for a while--ever since David Einhorn made the short case at that conference and I disagreed with many of his premises.
Stocktrader
Saleem,
What do you think about CLF? It has been strong lately. It has been up $5 in three days.
Started a position in VMW at 86.5.
Michael
Hi Michael,
CLF has moved "substantially already"..it may rest for few days....
Look @ TCK....meth coal & Copper play.
Saleem
Hi Stocktrader,
CMG is a good bet..for me AH trade is very expensive $43 + 3 cents per share....
Saleem
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