Indices closed near best level of the day.
S&P 500 closed @ 1413.94 few tick below high of the day....
RSI @ 54.63
CMF @ +0.091
Internals were :
UP volume led by 1.32 to 1 in NYSE & 2.19 to 1 in Nasdaq
Advancing stocks led by 1.11 to 1 in NYSE & .996 to 1 in Nasdaq
Net new 52 wk highs were leading by 40 in NYSE & 2 in Nasdaq
VIX UP .73% @ 16.58
Oil @ $86.26
Gold @ $1701.80
AH News :
NFLX Down 1.23%
PANW Down 4.19%
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE has been steady with a bullish bias. S&P 500 on its way to take out much dreaded 1420 area. Friday is Jobs Report, expectations are 93 K, some estimate are 80K....actual numbers may be well below consensus & market may ignore completely...it is the momentum which matters now & Fiscal Cliff may be in the process of getting an agreement.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteAmazing jobs number all things considered!
Sold TZA, bought GGC, FIO, CF, WPRT, STLD.
Stocktrader
Hi Stocktrader,
ReplyDeleteYes good jobs report until its revised next month....
Good luck with your bullish portfolio.
Saleem
Hey Saleem,
ReplyDeleteI just realized ELOQ was under pressure due to tax selling from cliff consequences. It IPO'd for $10. I wish I would have figured this out sooner--I might have pulled a sell/buyback move and saved $$$...selling probably not done even yet.
Stocktrader
Hi Stocktrader,
ReplyDeleteHave you sold ELOQ already?
Saleem
Hey Saleem,
ReplyDeleteNo I haven't. At this point I'd just be guessing at a trading bottom. Instead I'd rather hold for the fundamental story (which includes a possible buyout) and ignore the next couple weeks of tax shuffling.
Stocktrader
Hi Stocktrader,
ReplyDeleteI think @ this stage "downside" may be limited in ELOQ......
Saleem