Indices closed near lows of the day......
S&P 500 closed @ 1398.94
RSI @ 49.12
CMF +0.015
Internals were :
Down volume led by 2.32 to 1 in NYSE & 1.23 to 1 in Nasdaq
Declining stocks led by 1.25 to 1 in NYSE & 1.23 to 1 in Nasdaq..yes these numbers are accurate?
Net new 52 wk highs were leading by 85 in NYSE & 29 in Nasdaq
VIX closed UP 2.71% @ 15.92
Oil closed @ $87.18
Gold $1742.30
Stocks which were UP 1% or more included APKT,JCP,
NFLX,GOOG,RVBD,LVS,GMCR,CCJ,BJRI,IBN....
AH ER :
GMCR UP 21.59%
ADI Down 2.77%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, It is all about fiscal cliff resolution. Politicians are on TV busy with blame game. Until we see "some movement towards agreement" market remains under pressure. Some stocks are performing better than indices.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Stocktrader,
I looked @ ELOQ yesterday..it is @ cusp of making an improved earning picture.....
Only reason it is preventing me from buying is that it has no option which reduces margin availability......
Saleem
Hey Saleem,
Thanks for considering it. I realize with the low volume, small cap it would be difficult to buy much. I am obviously in a different situation not having to worry about margin for this retirement account. Maybe at some point in the future it will be available for your consideration :).
Stocktrader
Hi Stocktrader,
Sold APKT based on RSI & bought KORS $52.10 also based on relative RSI.
Saleem
Hey Saleem,
I'm looking at the 200 DMA for a possible sell point on APKT, but I don't know, maybe I'll just keep keeping it.
KORS is a tricky one valuation-wise, but the chart looks nearly perfect. Good luck! :)
Stocktrader
Hi Stocktrader,
I just asked a simple question...in the near term..which stock has more potential.....thus my switch to KORS....
APKT was a the-best trade in a while.....thus dont want to jinx it....so booked the gain...
Saleem
Hey Saleem,
I would agree with that assessment--better upside for KORS it seems right now.
Stocktrader
Hi Stocktrader,
APKT had a presentation yesterday..it must be bullish as volume has picked up substantially today...so your patience & conviction may be well rewarded....
Saleem
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