Thursday, December 13, 2012

Indices closed down .56% to .72%........

Indices closed down on Profit taking & deal uncertainty.

S&P 500 closed @ 1419.45, low today 1416.00

RSI @ 55.22

CMF @ 0.225

Internals were :

Down volume led by 2.64 to 1 in NYSE & 1.58 to 1 in Nasdaq

Declining stocks led by 2.37 to 1 in NYSE & 1.64 to 1 in Nasdaq

Net new 52 wk highs were leading by 18 in NYSE & by 6 in Nasdaq

VIX closed UP 3.82% @ 16.56

Oil closed @ $85.89

Gold closed @ $1696.80

In my portfolio :

Bought TCK @ $34.90

Rebought JCP @ $20.75

Portfolio is CRUS,LEN,KORS,JCP,TCK,AUY

Exposure 79%

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, S&P 500 have pulled back 1.57% in last 24 hrs, this is a "normal & healthy pullback". Indices are all set to go higher. Profit taking should be viewed as "entry point" in many stocks. I am hopeful that positive news on Fiscal Cliff should be obvious by Monday of coming week.

BLOG does NOT give buy or sell.

Saleem

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