Nasdaq closed down while S&P 500 & Dow closed UP
S&P 500 closed @ 1485.98 highest point of the day....
RSI @ 69.06
CMF @ 0.402.....highest point in a long time
Internals were :
UP volume led by 1.81 to 1 in NYSE & 1.52 to 1 in Nasdaq
Advancing stocks led by 1.85 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 333 in NYSE & 128 in Nasdaq
VIX crashed down to almost 6 years low, down 8.18% @ 12.46
Oil closed @ $95.56
Gold closed @ $1687.00
Canadian $ @ 100.82
In my portfolio :
Sold JCP
Here is my portfolio weighting :
BAC 29.92%
APKT 27.30%
YUM 24.92%
YHOO 17.86%
Exposure 61%.....
Stocks which closed green included APKT,JCP,
RIMM,CMG,AMZN,PCLN,SCCO,M,LEN,
KORS,CF,TCK,LVS,WYNN,PANW,BIDU,
DNKN,COH,CLF,C,MOS,MON,SBUX,
MCD,SINA,QIHU,MS,GS,IBN
Next post on Sunday by 2 PM
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
A death in the nearer family has kept me busy this weekend, but here's the portfolio:
GGC - 10.0%
PANW - 9.9%
SPLK - 9.6%
GWAY - 8.9%
WLT - 8.7%
FIO - 8.5%
BAC - 8.0%
STLD - 7.4%
CLF - 6.8%
CF - 6.4%
FFIV - 6.3%
PRU - 6.2%
APWC - 3.2%
I swapped CRUS, ETP and PFPT this week for FFIV, BAC, and CLF. Overall it was a mostly flat week with CRUS, BAC, and GGC the underperformers and FIO, PANW, and APWC the outperformers.
I am anxiously awaiting the bulk of earnings season to both take fresh looks at the inside of my current favorites, as well as identify new targets.
I expect this week to be dominated by individual stories (including AAPL on Wednesday) with bias to the upside as there doesn't seem to be much reason to sell this week other than "running too far", which does feel like enough by itself to cause a selloff for now.
I will note the weekly RSI on the $SPX is only 63.53 versus 68-70 during the two major tops of 2012. This tells me we can sustain some more upside without much pause. I was considering a February selloff after the earnings catalysts disappear, but I'm starting to think the January jobs number will look really good, so I'm pushing the selloff at least another week into February. If we get major resolution on the debt ceiling, I can't even imagine the upper limits on the market. I'll stop from getting too far ahead of myself right now, but I like the market still and want full beta exposure.
Looking forward to some interesting earnings! :)
Stocktrader
Hi Stocktrader,
My week was a negative one again, thanks to pullback in Canadain $ by 6.03% for the week, overall down 8.10% for the week......barley UP for the year....
I am hoping that BAC, APKT,YHOO & YUM may give me some UP move in the weeks ahead....
Earnings on balance may provide further move UP.....
Saleem
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