Indices closed @ their best level of the day.
S&P 500 closed @ 1430.36
RSI @ 59.71
CMF @ 0.212
Internals were :
UP volume led by 4.16 to 1 in NYSE & 2.43 to 1 in Nasdaq
Advancing stocks led by 2.00 to 1 in NYSE & 2.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & 24 in Nasdaq
VIX closed Down 3.88% @ 16.34
Oil closed @ $87.20
Gold closed @ $1698.20
Stocks which were UP by 2% or more included CRUS,LEN,KORS,
CMG,EXPE,FFIV,GOOG,LULU,DNKN,C,QCOM,SBUX,
CCJ,SINA,QIHU,BAC,MS,GS.....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, AH President Obama has submitted a new proposal to get budget agreement. There is a "major shift" in his position, this may bring consensus for a deal. We may have another rally due to "substantial movement" in Fiscal Cliff resolution. I will strongly suggest to book profit in stocks which is "sporting high PE". Funds should be deployed in other "relative bargain & lower PE".
BLOG does NOT give buy or sell.
Saleem
6 comments:
Saleem
WYNN is trying to breakout. Going to break this triangle. Around 115.50
Hi Up,
YES...WYNN is looking ready for a major breakout above $115.69.....RSI also reasonable @ 63.42
Saleem
Saleem
Yes, a lot of overbought stock is flying now which is very scary to chase. I would rather buy some reasonable stock
Hi Up,
Its important to take the gains & position in laggard of the day.
Saleem
Saleem
I am booking gains on GS today. And going to buy a little WYNN at this level
Hi Up,
Good luck with your switch.
Saleem
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