Indices closed @ low of the day.
S&P 500 closed @ 1435.81
RSI @ 59.35
CMF @ 0.123
Internals were :
Down volume led by 1.80 to 1 in NYSE & 1.33 to 1 in Nasdaq
Declining stocks led by 1.00 to 1 in NYSE & 1.00 to 1 in Nasdaq
Net new 52 wk highs were leading by 155 in NYSE & 84 in Nasdaq
VIX closed UP 11.50% @ 17.36
Oil closed @ $89.51
Gold closed @ $1667.70
Stocks which closed green included KORS,JCP,TCK,
HMC,MLNX,CF,RVBD,LVS,PANW,BIDU,DNKN,
COH,CLF,GMCR,ZNGA,MU,CIEN,JDSU,FNSR,
NVDA,CCJ,SINA,MGA,KOG,AGU.....
AH News :
BBBY Down 3.87%
ACN Down 5.45%
HLF Down 7.58%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, indices pulled back on jitters about Budget agreement. I still believe that a "framework of agreement" may be in place by end of this week. IF that does not happen, then this issue flips over to next week. One way or the other budget issue will be resolved. Market is in tune with "forced resolution" deadline of Jan 1st, 2013. Today's TAPE was quite healthy with new 52 wk highs maintaining a healthy lead. Selling was "not intense".
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Well, ORCL agreed to buy ELOQ this morning for $23.50. From a longer perspective, I'm a bit disappointed that the purchase price was so low--below the 52-wk high set in November and merely a 23.6% premium to a price it traded at just this week, all the time under pressure from tax selling into the end of the year. I'm not sure there's chance for CRM to step in here (ELOQ and CRM have a very close relationship and honestly I thought they'd be the acquirer in a potential deal), but I would think ELOQ is worth at least $28-$30.
The bottom line, though, is that this is a nice boost for the portfolio and now I can deploy the funds elsewhere in preparation for a great next year.
Stocktrader
Hi Stocktrader,
24% jump in any stock in one day is "great return".....
You were a great believer in ELOQ fundamental & it payed off.
Saleem
Hey Saleem,
I sold approximately half my ELOQ at 23.51 (saving the rest for a bit in case a better offer or better idea comes in). I added to my GWAY position at 16.33 based on a great story and some particular price action I was seeing today.
Stocktrader
Hi Stocktrader,
Good luck with your add-on in GWAY..green is good.
Saleem
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