Indices closed mixed after Spanish official denies plans to ask for bailout.
S&P 500 closed @ 1445.75
RSI @ 56.05
CMF @ <0 .009=".009">
Internals were :
UP volume led by .996 to 1 in NYSE & 1.72 to 1 in Nasdaq
Advancing stocks led by 1.16 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 126 in NYSE & 54 in Nasdaq
VIX Down 3.74% @ 15.71
Oil closed @ $91.89
Gold closed @ $1775.60
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, internals are weakening which may indicate weakness immediately ahead. Fed minute, ADP, jobless claims & Jobs report are all lined up which may not be market friendly.
Continue booking profit quickly & wait for weakness to enter any position. Next 72 hrs are uncertain.
BLOG does not give buy or sell.
Saleem
23 comments:
Hey Saleem,
If these are the job numbers when "no one" wants to hire ahead of the fiscal cliff, our post-fiscal-cliff-resolution job numbers are going to be unbelievable...
Looks good today! :)
Stocktrader
Hi Stocktrader,
ADP & real jobs report "generally do not match"......
Saleem
Hey Saleem,
Yes, I realize that, but I trust the ADP data more because it's a function of their actual customers versus the Labor Dept which surveys businesses and has had major revisions recently. Even if the market doesn't see it that way, I think true implications for the economy lie with ADP.
Stocktrader
Hi Stocktrader,
US economy has been on the mend for about six months now.......things will improve further...its the elastic effect...you cannot compress things for too long..it snaps back...
Saleem
SALEEM
I am not seeing a roses picture
I still have my tiny number of shares of Apple
I think we may have seen a bottom yesterday.......
PM is up $6, I wonder if we close green
Comments appreciated
C
Hi Stocktrader,
WPRT started as buy by UBS today.
Saleem
Hi C,
You are an APPL trader..you have better feel than those who do not trade AAPL.....
Up also has half position in AAPL..that must mean "good things to come"
Ipad mini on the way..almost 8 inches.
Today may be good day to trade AAPL......when news flow is better !!!
Saleem
SALEEM
thanks so much for your reply
I got apple 25 shares at$665 so today I am up a buck
Saleem
By trade do ya mean sell the news or ride the wave upon apple.
Our BIDU is behaving poorly....
Hello UP and hope you are doing very well today
C
Hi C,
Trade always means..you book profit ASAP....you never know about next day?
Saleem
Hey Saleem,
Yes I saw that WPRT coverage--two buys in two days :).
I am desperately trying to find a way into PANW right now. I can't find a single stock to sell...I love them all!
Stocktrader
Hi Stocktrader,
PANW news flow is very good...maybe trim position in three of your stocks & buy PANW.
Saleem
C
Everyone is looking closely on head and shoulder formation on AAPL, so keep position small. I don't really have much confident on AAPL because it breach a lot of support during this 50 points drop. And we all know support become resistance.
Hey Saleem,
Ok, so I finally ended up selling ELOQ at ~20.52 to free up some cash as the volume has dried up there, so I think it needs to take a rest. Unforunately, PANW is another $1 higher now! I'll still look for an entry though.
Stocktrader
Hi Stocktrader,
ISM caused a move UP in most stocks..but PANW may move further today.....
Saleem
Hey Saleem,
I guess I'm just impatient--bought PANW at 63.73286. Given it looks like the 50 DMA is support now, the downside was very limited, so I just decided to participate now.
Stocktrader
Hi Stocktrader,
Good move on PANW..it jumps in nano-second.
Saleem
SALEEM
I like todays action in DNKN
Nice
Looks like you are up in all your picks
Cool
I will trade apple today ---thanks
C
Hi C,
BIDU is the only dog......in my portfolio......
Saleem
Hey Saleem,
It's a shame I had to sell ELOQ to get PANW. I would have preferred MNST or GWAY, but MNST is not available for sale until tomorrow and GWAY was already down a lot this morning and I didn't want to sell low. Hopefully I'll still get that pullback on ELOQ--it has to happen at some point, right?
Stocktrader
SALEEM
Sold apple for lunch money
Regards
C
Hi C,
Good move in booking profit....
Saleem
Hey Saleem,
Great move on LEN! I was looking at it the last couple days as a good buy entry. If I didn't have GGC and Z already, I likely would have.
Stocktrader
Hi Stocktrader,
We both have few stocks doing better than market.....
Saleem
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