Nasdaq was the sole loser today thanks to AAPL ripple effect.
S&P 500 closed @ 1494.82
RSI @ 71.83
CMF @ 0.448
Internals were :
UP volume led by 1.34 to 1 in NYSE & 1.25 to 1 in Nasdaq
Advancing stocks led by 1.27 to 1 in NYSE & 1.26 to 1 in Nasdaq
Net new 52 wk highs were leading by 422 in NYSE & 190 in Nasdaq
VIX closed UP1.85% @ 12.69
Oil closed @ $95.95
Gold closed @ $1669.90
Stocks which closed UP 1% or more included YHOO,
CF,LULU,CMG,RVBD,JCP,HMC,AMZN,M,RIMM,
DNKN,EXPE,FFIV,PCLN,GOOG,GMCR,C,FNSR,
SNDK,KORS,AGU,POT.....
AH ER :
FLEX Down 7.89%
CRUS UP 1.42%
SBUX UP 2.16%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Since we have crossed 1500 in S&P 500, we should see a follow thru to new highs. Close is where the strength is.75 area in RSI is attainable. Overbought conditions needs to be recognized for strategic profit taking & quick trades. With major bull market, rotation can take hold for a long long time.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hey Saleem,
Bought PFPT at 13.244 avg. It seems like it has rested enough to start moving again. The A/D statistic I follow shows strong accumulation.
Stocktrader
Hey Saleem,
Bought CSOD @ 31.69978 with the remaining funds. It is a leading human resources SaaS play that recently got a $40 PT from GS:
January 18th
Cornerstone OnDemand upgraded to Buy from Neutral at Goldman
"Goldman expects Cornerstone OnDemand's core growth to accelerate and named it one of its top SaaS picks for 2013. The firm expects Cornerstone to benefit from its leading position and for the Recruiting release to drive billings. Price target raised to $40 from $35."
Other features that attract me to the name is the "takeover market cap" of $1.5B, the good chart having rested near the 52-wk highs for a while coupled with decreasing volume (i.e. ready for breakout), and the positive analyst comments regarding anticipated Q4 results.
Stocktrader
Hi Stocktrader,
Very good rationale for buying PFPT & CSOD......
I am very curious about CSOD...have to know about this company.
Saleem
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