Indices just about ignored Italy & closed slightly higher.
S&P 500 closed @ 1418.55
RSI @ 56.77
CMF @ 0.191
Internals were :
UP volume led by 1.15 to 1 in NYSE & 2.07 to 1 in Nasdaq
Advancing stocks led by 1.25 to 1 in NYSE & 1.37 to 1 in Nasdaq
Net new 52 wk highs were leading by 55 in NYSE & by 14 in Nasdaq
VIX closed UP .94% @ 16.05
Oil closed @ $85.56
Gold closed @ $1714.40
Stocks which were UP 1% or more included JCP,
APKT,CMG,MLNX,POT,YHOO,FFIV,SNDK,
AEM,FCX,TCK,RVBD,BIDU,CLF,LNKD,
GMCR,FB,LRCX,MU,JDSU,CIEN,FNSR,
ARNA,NVDA,MOS,MCD,SLW,CCJ,
QIHU,MGA,KOG......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is telling us that Fiscal Cliff is coming to a resolution soon @ your TV channel. Any leak of impending agreement will send this market into a major jump. Stay with your picks as market will reward most good stories fundamental or technical.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hey Saleem,
It was one of my best moves in a while to pick up WLT that late in the day below unchanged and then see such a great surge. It helped offset some weakness in FIO, PANW, CRUS.
The market looks extremely strong and each day gone by leaves less tax gain selling to happen. A great move lies ahead in my opinion.
Stocktrader
Hi Stocktrader,
YES...your timing was PERFECT on WLT.....we all need that once in a while.....
Got up around 10 AM today...a record for working day.....
Saleem
Saleem
I am buying some PANW for year end play. At this level, I think reward outweight risk. Banks rally hard last week and left GS trailing. To me GS is a great play at this level as well. Finally cloud stock woke up, just look at VMW and CMR.
Hi Up,
PANW has been & IS weak......TAPE tells the story sometimes more clearly......
I suggest follow any idea which IS showing strong TAPE today......
Saleem
Saleem
It is truth that PANW is week stock, but there is a saying when nobody want it, it is time to get it for yourself. I think it is capable of getting back to 54 levels before month end.
Hi Up,
Another weak stock which IS doing well today is CRUS......
Saleem
Hey Saleem,
Trimmed some GWAY (was my largest) due to tax selling speculation and bought more WLT at 35.48. I really like WLT's prospects.
Stocktrader
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