Indices are finding very little support.
S&P 500 closed @ 1353.33, low today was 1348.05
RSI @ 27.21
CMF @ -0.198
Internals were :
Down volume led by 1.43 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by 2.14 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk lows were leading by 252 in NYSE & 157 in Nasdaq
VIX closed UP .39% @ 17.99
Oil closed @ $85.45
Gold closed @ $1713.80
Canadian $ closed @ 99.75
Portfolio is APKT,AMZN,CF,JCP
Stocks which closed UP included RIMM,YHOO,LNKD,
V,ZNGA,C,BAC,GS,MS,BWLD,NVDA,SINA,BJRI,
AGU,HMC,M,CMG,EXPE,NFLX,FFIV,PCLN,KORS,
TZA,BIDU,DNKN.....
AH ER :
DELL Down 1.99%
INTU UP 1.77%
ADSK UP 1.8%
ARUN UP 5.34%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, i was expecting an oversold bounce today even a weak one, but that is not in the card these days. Market sentiment has deteriorated further to the point that money is leaving much faster now. CMF is showing deeper negative flow & new 52 wk lows are staying high. Any bounce should be met with selling. It is a long battle of politicians & market is giving "clear message to better wake up in a hurry or else"...
BLOG does NOT give buy or sell.
PS...missed my afternoon BLOG due to sudden serious illness of my sister-in-law, she is in ICU.
Saleem
Hey Saleem,
ReplyDeleteSold a bit of the TZA at 18.95 to buy some ELOQ at 16.633. I couldn't pass up this opportunity. It is probably the stock with the best story that I follow.
Stocktrader
Hi Stocktrader,
ReplyDeleteYour TZA is working like a charm...
Good luck with ELOQ.
Saleem
Hey Saleem,
ReplyDeleteYes, TZA has worked as intended...for a change! :)
Unforunately, I tried to do another swap to sell TZA and buy GGC, but missed my prices. Now I have to decide if I want to chase both sides...
Stocktrader
Hey Saleem,
ReplyDeleteOk. Sold some more TZA 18.90 and bought GGC 40.67. Horrible prices compared to when I was trying earlier, but obviously if there is a mood change, we are early early in that move.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with GGC....
Saleem
Hey
ReplyDeleteSaleem
I am so sorry to hear about the health issues of your sister
in law
is she still in ICU??
I hope for the best!
On another note Friday seems to be another down day
J Cramer was saying sell in to any market strength
as Mondays will be down again
C
Saleem
ReplyDeleteMarket is GREEN
even BIDU is green!
SFL is at at $14.45 a steel, of course at the net sell off it will be $13 and change
Bought Verizon at $41.50 cheep? lets see if it drops
C
Hi C,
ReplyDeleteMy brothers wife suffered heart attack & kidney issue @ the same time, she is on "respirator".....
Appreciated your concern.
Good luck with market & your stocks.
Saleem
Hey Saleem,
ReplyDeleteSorry to hear about the family health issues. I wish the best for all of you.
Stocktrader
Hey Saleem/c,
ReplyDeleteAAPL looks really good now? Fever has broken?
Stocktrader
Hi Stocktrader,
ReplyDeleteThanks for your message.
We are all very concerned about her sudden health issues.
Saleem
Hi Stocktrader,
ReplyDeleteAAPL technicals must take out previous day high....& stay above.....
Then..its fever is gone....
Saleem
Sleem / Stocktrader
ReplyDeleteI own APPLE
and it has been difficult for me
But, I would say take a nibble--perhaps around 25 shares
and if it drops more , pick up some more
You will be so proud come February and it is sitting at 725 a share!
Woo Who!
C
Hey Saleem/c,
ReplyDeleteI ended up selling some TZA 18.48 and buying AAPL 523.15. I probably should have bought more CRUS or something for better beta, but AAPL itself just seems so appealing at this price.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with AAPL.....
C has great "convincing power"
Saleem
Hey Saleem,
ReplyDeleteI feel like something is happening in the market. I don't know if this is just an oversold bounce, but the market feels lighter finally. The $VIX is crashing--maybe we finally think based on today's press conference that despite the fact that lawmakers will probably go right up to the date, they do in fact understand the gravity of the situation and will come to a solution when necessary? Additionally, we have the broad framework of options, so I suspect we have more knowns than unknowns at this point.
Stocktrader
Hi Stocktrader,
ReplyDeleteThe minute Speaker said "he has some REVENUE in his proposal".....that was the-word for the market of COMPROMISE...
That is all we need a "compromise to get the job done".....this sets the tone for a very good REBOUND.....
Saleem
Hello Guys
ReplyDeleteAPPLE is an absolute winner--maybe some puts are in order
I do not know my way around them very well do you guys use them??
Apple is already up for you Stock trader!!!!!
You are joining Karen Finerman who loves apple
APPLE will have stellar earnings this 4th quarter--bam it will rocket
best of luck in tough time
Saleem any new news on your sister? I will say a prayer if ya like --it helped me with my cancer
C
Hi C,
ReplyDeleteThanks for your thoughts & prayer for my sister-in-law.....
I will speak to my brother who lives in Houston tonight & will get an update....Heart specialist was expected to see her today.....
Saleem
Hey Saleem,
ReplyDeleteSold the rest of the TZA at 18.18. There doesn't seem to be a need to hold it at this point--the price action and $VIX tell me we've bottomed for at least a while.
Bought a small amount of GWAY @ 17.51 and CRUS @ 28.30 to add to existing positions.
I have almost two positions cash available.
Stocktrader
Hey Saleem,
ReplyDeleteAlso added a small amount to GGC at 41.37.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood move in getting back in CRUS..has been trashed big time.
Good luck with all add on.
Saleem