Indices closed in near low of the day.
S&P 500 @ 1501.96
RSI @ 69.39
CMF @ 0.464
Internals were :
Down volume led by 2.04 to 1 in NYSE & 1.42 to 1 in Nasdaq
Declining stocks led by 1.98 to 1 in NYSE & 2.35 to 1 in Nasdaq
Net new 52 wk highs were leading by 273 in NYSE & 103 in Nasdaq
VIX UP 7.59% @ 14.32
Oil closed @ $97.94
Gold closed @ $1679.90
AH ER :
FB Down 3.43%
FIO Down 18.02%
LVS UP 5.22%
QCOM UP 6.23%
CTXS UP 11.12%
SWKS UP 12.24%
JDSU UP 14.84%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, Indices rested today after a major run. IF there is further weakness, it is a chance to buy strong stocks who are pulling back. Market tried to ignore GDP contraction but after Fed statement decided to book profit. Bull market is very much intact.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
The Chicago PMI was amazing! I forgot how much manufacturing could definitely have rebounded after the fiscal cliff resolution.
The market action is still lackluster so I'm not stepping in yet, but many of my sold stocks I'm looking to rebuy. The highest on the list are PANW (due to FTNT's great quarter/guidance) and STLD (best action of any of the steel stocks).
Stocktrader
Hi Stocktrader,
Economy is looking fine & moving in right direction.
YES..buying back strong stocks is a good thing.
Saleem
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