Indices closed near high of the day.
S&P 500 closed @ 1472.12
RSI @ 64.62
CMF @ 0.147
Internals were :
UP volume led by 3.19 to 1 in NYSE & 2.27 to 1 in Nasdaq
Advancing stocks led by 1.85 to 1 in NYSE & 1.38 to 1 in Nasdaq
Net new 52 wk highs were leading by 280 in NYSE & 143 in Nasdaq
VIX closed Down 2.32% @ 13.49
Oil closed @ $93.82
Gold closed @ $1678.00
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, S&P 500 is all set to make new 52 wk high, this may trigger more short covering & more higher highs.TAPE is strong & many stocks are getting ready to make new 52 wk highs, this list includes CF, TCK, AMZN to name a few. It is important to ride this strength for maximum gains. I will keep an eye on RSI when it hits 75 in S&P 500 or individual stocks, that is perfect time to book profit.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
I did more thinking about TASR and decided against pursuing it. You need to get within close proximity to deploy that weapon, and that doesn't seem to make sense for general public protection in a school/company setting.
In other news, today is going great with techs finally taking off--SPLK and FIO the subject of takeover rumors on top of it.
Stocktrader
Hi Stocktrader,
TASR growth has subsided...
SPLK looks very good today...
Bought APKT......
Hoping that indices turn deep green & close near high of the day...may not be far fetched....
Saleem
Hey Saleem,
I think NTAP looks really interesting here. Piper Jaffray yesterday said channels checks were better than expected for their quarter close, and we know the street overall is fairly lukewarm on the name due to often being the "odd-man out" in the server wars. If they are really gaining market share (as the analyst believes for 2013) and it is already fairly cheap on current estimates, it could really stage a breakout here and who knows how far it could go given the 11.5M shares short.
I'm not sure I can act given my high exposure to the tech area already and FIO being tied into that specific area and NTAP itself, but thought I'd share some ideas :).
Stocktrader
Hi Stocktrader,
Thanks for your take on NTAP...it is always nice to share valuable insight about your analysis...currently 200 visitors come to BLOG, I am sure this idea will be picked up by many...
I will do my DD this weekend.
Saleem
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