Indices were in a freefall in last 30 minutes, when it was clear deal is not in the making.
S&P 500 closed @ 1402.43, low was 1401.58
RSI @ 42.50
CMF @ 0.019
Internals were :
Down volume led by 4.80 to 1 in NYSE & 4.85 to 1 in Nasdaq
Declining stocks led by 2.15 to 1 in NYSE & 2.06 to 1 in Nasdaq
Net new 52 wk were mixed, UP 6 in NYSE & Down 6 in Nasdaq ( not a typo)
VIX jumped 16.69% @ 22.72
Oil closed @ $90.80
Gold closed @ $1655.90
Canadian $ closed @ 100.48
Stocks which closed green included M,RIMM,MLNX,
ARNA,SLW,SINA,QIHU......
Portfolio weighting is :
KORS 26.21%
AUY 24.03%
JCP 21.39%
TCK 14.45%
CRUS 13.92%
Exposure 67%
Next post on Sunday by 2 PM
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
It was a survival week with the indices and portfolio down each day. There were no changes this week:
PANW - 10.3%
GWAY - 9.4%
GGC - 9.3%
SPLK - 8.9%
CRUS - 8.7%
WLT - 8.7%
PFPT - 7.9%
FIO - 7.6%
STLD - 7.1%
AAPL - 6.8%
CF - 6.4%
WPRT - 6.1%
APWC - 2.8%
(cash) - 0.03%
Given the high beta in the portfolio, I was ok with mostly market-consistent declines for the week. Some stocks like PFPT and GWAY were even up in Friday's rout.
I am highly disappointed that we are still waiting for the fiscal cliff resolution, and even today I'm not sure how much progress is being made.
I feel like my portfolio is poised to fly once the uncertainty is lifted, but the lingering nature of this situation makes me wonder if more-than-temporary damage has been done to business and consumer psychology, especially now as the debt ceiling discussion is looming since this has taken so long already.
Mostly frustrated with politicians...
Stocktrader
Hi Stocktrader,
YES..politicians have wrecked this market in December......they are not done playing games with our patience.
Saleem
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