Indices closed mixed with Nasdaq the only loser.
S&P 500 closed @ 1409.28
RSI @ 52.43
CMF @ -0.002
Internals were :
UP volume led by 2.10 to 1 in NYSE & .92 to 1 in Nasdaq
Advancing stocks led by 1.09 to 1 in NYSE & .74 to 1 in Nasdaq
Net new 52 wk highs were leading by 46 in NYSE & 8 in Nasdaq
VIX closed Down 3.86% @ 16.46
Oil closed @ $87.88
Gold closed @ $1693.80
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
Gold UP
About market, indices are hinting that Fiscal Cliff may be averted. I have a feeling that by the week of 17th Dec, we may have a deal. Once deal is done, it wont be sell the rally. It is important to be on the right side of this political drama.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Lots of mixed signals today but the market is holding so far. It seemed most of the positive action today was short-covering because there was hardly a bid in many of my mostly long-only small cap stocks. Financials and commodities leading the way to the upside lends credibility to that thesis also.
I'm not sure how this will resolve in the very short term, but I'm comfortable with my hedge for now. I really feel like the market could just "give up" one of these days and drop a lot, so I like the protection I have.
Ugly day for AAPL--Wow!
Stocktrader
Hi Stocktrader,
Beside the obvious "posturing", i think behind the scene there is "compromise in the air"...otherwise indices would have crashed.....
As expected LULU "UPOD" for Q4.....i think it may close green? always a Taurus & "optimistic"
I know about market...except for TCK all my stocks were down & had a losing day by 1.6%
Saleem
Hey Saleem,
Very nice on LULU! Also, bought CRUS back at 28.37 based on AAPL being washed out and BRCM positive guidance. I saved myself almost $2 with the sell and buyback.
Stocktrader
Hi Stocktrader,
Thanks for your comment on LULU.
Good luck with CRUS..saving of $2 per share goes a long way....
Saleem
Hey Saleem,
This one extra day I need to hold TZA might kill me! It certainly seems like we are approaching the framework of a deal in Washington with many of the extremists stepping away.
The market feels good here...
Stocktrader
Hey Saleem,
Bought STLD with the small amount of cash I had remaining. Tomorrow is a day I can really make some moves.
Stocktrader
Hi Stocktrader,
Its never too late to switch position IF "wind is blowing against you"...
This time i felt "deal was always in the card"
Good luck with your decision.....
Saleem
Hi Stocktrader,
I forgot your 3 day restriction again......
Saleem
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