Indices staged a strong rally on good economic news from oversold condition.
S&P 500 closed @ 1427.59
RSI @ 47.57
CMF @ -0.025..inching towards green, best level in weeks.
Internals were :
UP volume led by 4.02 to 1 in NYSE & 4.93 to 1 in Nasdaq
Advancing stocks led by 3.32 to 1 in NYSE & 1.89 to 1 in Nasdaq
Net new 52 wk highs were leading by 168 in NYSE & 43 in Nasdaq
VIX closed Down 10.27% @ 16.69
Oil closed @ $87.09
Gold closed @ $1715.50
Stocks which were UP 2% or more included APKT,PANW,
LEN,FFIV,RIMM,TCK,KORS,M,COH,LULU,CLF,CMG,
PCLN,SU,V,GMCR,LRCX,JDSU,CIEN,FNSR,SNDK,
YUM,FCX,NVDA,X,STLD,MGA,BAC,MLNX,IBN.....
AH ER :
LVS UP .97%
LNKD UP 7.96%
PCLN UP 9.54%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, it is all about jobs report which has been volatile on a month to month basis. Expectations are 125K. We need confirmation of this rally by closing green on Friday. Weekly Option will play a role as Market Makers control strike price on many stocks. All in all lot of hope is resting on Friday's TAPE. My conviction is neutral for Friday, will take what market gives me.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteDespite CRUS, my overall portfolio managed to gain 2.56%--this was definitely the kind of day that was long coming! Hopefully this is the start of more positive moves in the beta stocks--the world is slowly starting to chug higher, and should jump into overdrive once US businesses finally have more clarity on the fiscal cliff issues to make longer term hiring and spending decisions.
Stocktrader
Hi Stocktrader,
ReplyDeleteI am glad that you ended UP 2.56% higher knowing the beating CRUS gave to your portfolio.
My superstar was APKT which gave my stocks a decent 4.46% gain plus currency gain of 2.87%..total of 7.33%...few days like this .....i might like 2012 after all....
I do not know why..but i am kind of anxious for Friday???
Saleem
Hey Saleem,
ReplyDeleteMy comment for this month is the same as the last: If we are creating this many jobs during these highly uncertain times, I can't even imagine how strong things will look when we get the fiscal cliff uncertainty resolved.
Stocktrader
Hi Stocktrader,
ReplyDeleteToday's jobs report decided this election......
YES i concur with post fiscal cliff comment.
Saleem
Hello to all
ReplyDeleteLooks like the jobs number disappointed, imho
Market is down
IBD says market in correction. We may get a green close.....
Get some SFL if it drops below $15.50 and BGS is a winner for me
CNQ continues to let me down
C
Hi C,
ReplyDeleteMarket is down because it dies not like the implication of jobs report....Jack Welch is upset also...
Bought RVBD....
Saleem
SALEEM
ReplyDeleteIt is all about transparency --not
I do not disagree but there is way to much politics
involved in jobs numbers--Yes Jack Welch is a mess
But speaking out in America is our way.
I would love it , if out news outlets were more honest
I love RVBD owned it in the past
IBD says
EPS Due Date 01/26/2013
EPS Rating 92
EPS % Chg (Last Qtr) 17%
Last 3 Qtrs Avg EPS Growth 9%
# Qtrs of EPS Acceleration 2
EPS Est % Chg (Current Qtr) 16%
Estimate Revisions
Last Quarter % Earnings Surprise 12.0%
Scores 49
Go RVBD nice pick
C
Hi C,
ReplyDeleteYou know that i do not care for politician as a group...politician are in it for themselve..its an ego trip....not for you or me....
US system for reporting has been in place for @ least 50 years...love it or hate it..that is what you got....
Thanks for RVBD analysis..
Saleem