Indices closed near lows of the day.
S&P 500 @ 1514.68
RSI @ 55.34
CMF @ 0.169
Internals were :
Down volume led by 1.02 to 1 in NYSE & 1.03 to 1 in Nasdaq
Declining stocks led by .94 to 1 in NYSE & 1.02 to 1 in Nasdaq
Net new 52 wk highs were leading by 174 in NYSE & 74 in Nasdaq
VIX closed UP 5.30% @ 15.51
Oil closed @ $92.05
Gold closed @ $1578.10
Stocks which were UP1% or more included HLF,PANW,CSOD,
M,DNKN,HMC,LVS,BIDU,FFIV,COH,GMCR,FB,STLD,
MLNX,MU.....
AH ER :
PANW Down 3.48%
CRM UP 4.80%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE rested today with politicians created usual uncertainty. Majority are expecting a pullback which is obvious with higher volume on down days. I do not believe that we are on the verge of major pullback yet. It is important to book gains @ this stage. It is also prudent to monitor your exposure, no need to stretch to max. I expect indices to conquer new highs.
BLOG does NOT give buy or sell.
Saleem
Thursday, February 28, 2013
Indices UP .31% to .47%...NICE !!!!
Indices are green for third day.
S&P 500 @ 1522.42, high today so far is 1525.34
Internals are positive
Oil Down $1.04
Gold Down $19.40
Canadian $ Down 71 tick @ 97.04, jittery due to Canadian GDP report on Friday AM.
VIX Down 1.15% @ 14.56
Portfolio BAC,BBRY,YHOO
Most stocks are UP
@ 2.53 following are red :
JCP,CLF,SODA,LULU,AAPL,PCLN,LEN,
RVBD,LNKD,GG,V,FB,ZNGA,BRCM,
CIEN,JDSU,FSLR,X,EGO,SLW,AEM,
CCJ,ECA,MS,WYNN,GS,IBN,FCX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1522.42, high today so far is 1525.34
Internals are positive
Oil Down $1.04
Gold Down $19.40
Canadian $ Down 71 tick @ 97.04, jittery due to Canadian GDP report on Friday AM.
VIX Down 1.15% @ 14.56
Portfolio BAC,BBRY,YHOO
Most stocks are UP
@ 2.53 following are red :
JCP,CLF,SODA,LULU,AAPL,PCLN,LEN,
RVBD,LNKD,GG,V,FB,ZNGA,BRCM,
CIEN,JDSU,FSLR,X,EGO,SLW,AEM,
CCJ,ECA,MS,WYNN,GS,IBN,FCX....
BLOG does NOT give buy or sell.
Saleem
Wednesday, February 27, 2013
Indices closed UP 1.04% to 1.27%...NICE !!!!!
Indices had a back to back strong UP move.
S&P 500 @ 1515.99
RSI @ 55.92
CMF @ 0.184
Internals were :
UP volume led by 6.88 to 1 in NYSE & 4.74 to 1 in Nasdaq
Advancing stocks led by 3.25 to 1 in NYSE & 2.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 139 in NYSE & 70 in Nasdaq
VIX Down 12.69% @ 14.73
Oil @ $92.76
Gold @ $1595.70
In my portfolio :
Added 50% YHOO @ $21.21
Portfolio is BAC,BBRY,YHOO
Exposure 66%
Stocks which were UP 2% or more included HLF,SODA,CSOD,
LEN,LULU,EXPE,PCLN,M,COH,LNKD,POT,GMCR,LRCX,
MU,FNSR,C,MOS...
AH ER :
JCP Down 13.37%
GRPN Down 25.95%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE gave technical confirmation of this uptrend. We have a very good chance of going higher than recent highs of previous week which is @ 1530.94. Higher highs do get more highs.All of a sudden all known anxiety is out of the picture. Friday deadline of automatic spending cuts will have "minimal effect on economy". Best estimate of impact in all of 2013 is max $40 billion.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1515.99
RSI @ 55.92
CMF @ 0.184
Internals were :
UP volume led by 6.88 to 1 in NYSE & 4.74 to 1 in Nasdaq
Advancing stocks led by 3.25 to 1 in NYSE & 2.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 139 in NYSE & 70 in Nasdaq
VIX Down 12.69% @ 14.73
Oil @ $92.76
Gold @ $1595.70
In my portfolio :
Added 50% YHOO @ $21.21
Portfolio is BAC,BBRY,YHOO
Exposure 66%
Stocks which were UP 2% or more included HLF,SODA,CSOD,
LEN,LULU,EXPE,PCLN,M,COH,LNKD,POT,GMCR,LRCX,
MU,FNSR,C,MOS...
AH ER :
JCP Down 13.37%
GRPN Down 25.95%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE gave technical confirmation of this uptrend. We have a very good chance of going higher than recent highs of previous week which is @ 1530.94. Higher highs do get more highs.All of a sudden all known anxiety is out of the picture. Friday deadline of automatic spending cuts will have "minimal effect on economy". Best estimate of impact in all of 2013 is max $40 billion.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.11% to 1.22%.....NICE !!!
Indices are confirming reversal of yesterday.
S&P 500 @ 1515.15
Internals are positive by 2 to 1
Oil UP 4 cents
Gold Down $20.10
Canadian $ UP 19 tick @ 97.61, first positive day since last Friday.
VIX Down 11.91% @ 14.86
Portfolio is BAC,BBRY,YHOO
Most stocks are UP
@ 2.18 following are red :
JCP,AAPL,HMC,BIDU,FFIV,GG,FB,
FSLR,EGO,SLW,AEM,SPWR.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1515.15
Internals are positive by 2 to 1
Oil UP 4 cents
Gold Down $20.10
Canadian $ UP 19 tick @ 97.61, first positive day since last Friday.
VIX Down 11.91% @ 14.86
Portfolio is BAC,BBRY,YHOO
Most stocks are UP
@ 2.18 following are red :
JCP,AAPL,HMC,BIDU,FFIV,GG,FB,
FSLR,EGO,SLW,AEM,SPWR.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, February 26, 2013
Indices closed UP .43% to .84%.....NICE !!!!
Ben Bernanke masterfully deflected any conclusion that easy money is going away anytime soon. Indices closed near high of the day.
S&P 500 @ 1496.94
RSI @ 48.65
CMF @ 0.193
Internals were :
UP volume led by 2.53 to 1 in NYSE & 1.62 to 1 in Nasdaq
Advancing stocks led by 2.00 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 22 in NYSE & 9 in Nasdaq
VIX closed Down 11.16% @ 16.87
Oil closed @ $92.63
Gold closed @ $1615.50
Stocks which were UP 1% or more included HLF,SODA,
KORS,M,AAPL,EXPE,PCLN,HMC,LEN,BIDU,
LNKD,GG,AEM,SLW,V,GMCR,LRCX,SNDK,
MON,NVDA,MS,FCX......
AH ER :
FSLR Down 11.00%
PCLN UP 3.76%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE reacted positively to Ben Bernanke assurance of business as usual. I am personally not adding anything @ this stage, quite content to keep my existing position which is 54% exposure. You have to decide on your own comfort level which determines exposure. It is important to have a green close on Wednesday to confirm that TAPE has turned. Quality of close needs to be evaluated. There is too much volatility lately, @ the same time many stocks are looking vulnerable.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1496.94
RSI @ 48.65
CMF @ 0.193
Internals were :
UP volume led by 2.53 to 1 in NYSE & 1.62 to 1 in Nasdaq
Advancing stocks led by 2.00 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 22 in NYSE & 9 in Nasdaq
VIX closed Down 11.16% @ 16.87
Oil closed @ $92.63
Gold closed @ $1615.50
Stocks which were UP 1% or more included HLF,SODA,
KORS,M,AAPL,EXPE,PCLN,HMC,LEN,BIDU,
LNKD,GG,AEM,SLW,V,GMCR,LRCX,SNDK,
MON,NVDA,MS,FCX......
AH ER :
FSLR Down 11.00%
PCLN UP 3.76%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE reacted positively to Ben Bernanke assurance of business as usual. I am personally not adding anything @ this stage, quite content to keep my existing position which is 54% exposure. You have to decide on your own comfort level which determines exposure. It is important to have a green close on Wednesday to confirm that TAPE has turned. Quality of close needs to be evaluated. There is too much volatility lately, @ the same time many stocks are looking vulnerable.
BLOG does NOT give buy or sell.
Saleem
Indices UP .43% to .83%.....NICE !!!!
Indices are higher after Ben Bernanke assured continued buying of Bonds.
S&P 500 @ 1496.03
Internals are positive
Oil Down 72 cents
Gold UP $29.80
Canadian $ Down 4 tick @ 97.36, reached 8 month low today....
VIX Down 11.22% @ 16.86
Portfolio is BAC,BBRY,YHOO
Most stocks are UP
@ 2.12 following are red :
BBRY,CSIQ,TCK,CLF,SODA,JCP,DNKN,
QIHU,LULU,AMZN,CSOD,CF,RVBD,
SU,RVBD,PANW,COH,CRUS,FB,
FSLR,C,CCJ,SINA,SPWR,BJRI,
AGU.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1496.03
Internals are positive
Oil Down 72 cents
Gold UP $29.80
Canadian $ Down 4 tick @ 97.36, reached 8 month low today....
VIX Down 11.22% @ 16.86
Portfolio is BAC,BBRY,YHOO
Most stocks are UP
@ 2.12 following are red :
BBRY,CSIQ,TCK,CLF,SODA,JCP,DNKN,
QIHU,LULU,AMZN,CSOD,CF,RVBD,
SU,RVBD,PANW,COH,CRUS,FB,
FSLR,C,CCJ,SINA,SPWR,BJRI,
AGU.....
BLOG does NOT give buy or sell.
Saleem
Monday, February 25, 2013
Indices closed down 1.44% to 1.83%......
Indices were in a panic on Italian election deadlock.
S&P 500 closed @ 1487.85
RSI @ 44.60
CMF @ 0.163
Internals were :
Down volume led by 10.15 to 1 in NYSE & 5.75 to 1 in Nasdaq
Declining stocks led by 3.52 to 1 in NYSE & 4.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 118 in NYSE & 65 in Nasdaq
VIX jumped 34.02% @ 18.99
Oil closed @ $93.11
Gold closed @ $1586.60
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, IBD has changed its market outlook tonight to "market in correction". S&P 500 & Nasdaq both closed @ absolute low of the day, Dow closed few tick above low. TAPE had to endure many negative news whole day, PMI, Italian Election, Ben Bernanke Tuesday testimony & sequester...no wonder we collapsed with surprise on first two & tension about last two. I do not see any meaningful downside pressure. There is strong support around 1476. Now that S&P 500 has corrected 2.81% in two downside move, it may be time to start nibbling again, as FEAR is gripping TAPE as per VIX.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1487.85
RSI @ 44.60
CMF @ 0.163
Internals were :
Down volume led by 10.15 to 1 in NYSE & 5.75 to 1 in Nasdaq
Declining stocks led by 3.52 to 1 in NYSE & 4.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 118 in NYSE & 65 in Nasdaq
VIX jumped 34.02% @ 18.99
Oil closed @ $93.11
Gold closed @ $1586.60
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, IBD has changed its market outlook tonight to "market in correction". S&P 500 & Nasdaq both closed @ absolute low of the day, Dow closed few tick above low. TAPE had to endure many negative news whole day, PMI, Italian Election, Ben Bernanke Tuesday testimony & sequester...no wonder we collapsed with surprise on first two & tension about last two. I do not see any meaningful downside pressure. There is strong support around 1476. Now that S&P 500 has corrected 2.81% in two downside move, it may be time to start nibbling again, as FEAR is gripping TAPE as per VIX.
BLOG does NOT give buy or sell.
Saleem
Indices down .50% to .86%......
Italy election outcome is the focus for Wall Street. Election to be made official @ 3 PM EST.
S&P 500 @ 1504.02, low so far is 1501.88, high today 1525.84
Internals are negative by almost 2 to 1
Oil Down 26 cents
Gold UP $16.30
Canadian $ Down 59 tick @ 97.31
VIX UP 20.18% @ 17.03
Portfolio is BAC,BBRY,YHOO
Most stocks are down
@ 2.13 following are green :
BBRY,LULU,DNKN,LVS,COH,GG,
FB,ZNGA,MU,SNDK,QCOM,MCD,
EGO,SLW,AEM,AGU,IBN.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1504.02, low so far is 1501.88, high today 1525.84
Internals are negative by almost 2 to 1
Oil Down 26 cents
Gold UP $16.30
Canadian $ Down 59 tick @ 97.31
VIX UP 20.18% @ 17.03
Portfolio is BAC,BBRY,YHOO
Most stocks are down
@ 2.13 following are green :
BBRY,LULU,DNKN,LVS,COH,GG,
FB,ZNGA,MU,SNDK,QCOM,MCD,
EGO,SLW,AEM,AGU,IBN.....
BLOG does NOT give buy or sell.
Saleem
Sunday, February 24, 2013
Can Indices climb wall of worries ?
Many events are taking place this week, which may impact TAPE. They are given below :
-Fed Chief to testify Tuesday & Wednesday.
-Thursday Financial Stress Test & Capitalization report
-US GDP report
-Friday $85 Billion spending cuts comes into effect
All indices are trying to recover form selling which happened last week.
Monday looks like indices may have easy sailing but Tuesday it is all about Ben Bernanke testimony, i expect Fed Chief to be as diplomatic as ever & supportive of market.
Financial Stress test should be accommodating & may give boost to Banking sector.
US GDP report should be revised UP which will be positive for equities.
Friday's deadline of $85 Billion spending cut may impact market on Thursday.Low level anxiety is prevailing over cuts. Defense sector is the one which is going to be hit hard.
All in all coming week may be positive overall.
S&P 500 may get a chance to challenge recent highs of 1530.94.
Market seems to back on track & hopefully we may see higher highs as we go forward.
BLOG does NOT give buy or sell.
Saleem
-Fed Chief to testify Tuesday & Wednesday.
-Thursday Financial Stress Test & Capitalization report
-US GDP report
-Friday $85 Billion spending cuts comes into effect
All indices are trying to recover form selling which happened last week.
Monday looks like indices may have easy sailing but Tuesday it is all about Ben Bernanke testimony, i expect Fed Chief to be as diplomatic as ever & supportive of market.
Financial Stress test should be accommodating & may give boost to Banking sector.
US GDP report should be revised UP which will be positive for equities.
Friday's deadline of $85 Billion spending cut may impact market on Thursday.Low level anxiety is prevailing over cuts. Defense sector is the one which is going to be hit hard.
All in all coming week may be positive overall.
S&P 500 may get a chance to challenge recent highs of 1530.94.
Market seems to back on track & hopefully we may see higher highs as we go forward.
BLOG does NOT give buy or sell.
Saleem
Friday, February 22, 2013
Indices closed UP .86% to .97%....NICE !!!!
Indices staged a comeback & closed @ highs of the day.
S&P 500 @ 1515.60
RSI @ 57.43
CMF @ 0.264
Internals were :
UP volume led by 4.41 to 1 in NYSE & 2.96 to 1 in Nasdaq
Advancing stocks led by 3.05 to 1 in NYSE & 2.65 to 1 in Nasdaq
Net new 52 wk highs were leading by 92 in NYSE & 68 in Nasdaq
VIX Down 6.90% @ 14.17
Oil @ $93.13
Gold @ $1572.80
Canadian $ @ 99.76
Portfolio is BAC,BBRY,YHOO
Stocks which were UP 1% or more included YHOO,
QIHU,AAPL,CSOD,CMG,EXPE,HMC,JCP,SU,
LVS,WYNN,PANW,LNKD,V,CRUS,LRCX,
MU,BRCM,JDSU,CIEN,C,MON,NVDA,
SBUX,MCD,STLD,MS,GS,BJRI,MLNX,
IBN......
Next post by 2 PM Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1515.60
RSI @ 57.43
CMF @ 0.264
Internals were :
UP volume led by 4.41 to 1 in NYSE & 2.96 to 1 in Nasdaq
Advancing stocks led by 3.05 to 1 in NYSE & 2.65 to 1 in Nasdaq
Net new 52 wk highs were leading by 92 in NYSE & 68 in Nasdaq
VIX Down 6.90% @ 14.17
Oil @ $93.13
Gold @ $1572.80
Canadian $ @ 99.76
Portfolio is BAC,BBRY,YHOO
Stocks which were UP 1% or more included YHOO,
QIHU,AAPL,CSOD,CMG,EXPE,HMC,JCP,SU,
LVS,WYNN,PANW,LNKD,V,CRUS,LRCX,
MU,BRCM,JDSU,CIEN,C,MON,NVDA,
SBUX,MCD,STLD,MS,GS,BJRI,MLNX,
IBN......
Next post by 2 PM Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, February 21, 2013
Indices closed down .34% to 1.04%.....
Indices were under selling pressure on high volume.
S&P 500 @ 1502.42
RSI @ 51.25
CMF @ 0.208
Internals were :
Down volume led by 3.30 to 1 in NYSE & 4.52 to 1 in Nasdaq
Declining stocks led by 2.36 to 1 in NYSE & 2.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 243 in NYSE & 8 in Nasdaq
VIX UP 3.68% @ 15.22
AH ER :
JWN Down 2.31%
TXN UP 1.85%
AIG UP 4.27%
MRVL UP 5.49%
HPQ UP 6.14%
FIRE UP 11.29%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, S&P corrected 2.21% from highs to low today which is a mild pullback. The impact on traders psychy was much more intense, we went from everything rosy to bad everything. Economic data worldwide has been weak which will prevent fed to do anything in near term. Pullbacks are good to get rid of froth & we are back @ looking north.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1502.42
RSI @ 51.25
CMF @ 0.208
Internals were :
Down volume led by 3.30 to 1 in NYSE & 4.52 to 1 in Nasdaq
Declining stocks led by 2.36 to 1 in NYSE & 2.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 243 in NYSE & 8 in Nasdaq
VIX UP 3.68% @ 15.22
AH ER :
JWN Down 2.31%
TXN UP 1.85%
AIG UP 4.27%
MRVL UP 5.49%
HPQ UP 6.14%
FIRE UP 11.29%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, S&P corrected 2.21% from highs to low today which is a mild pullback. The impact on traders psychy was much more intense, we went from everything rosy to bad everything. Economic data worldwide has been weak which will prevent fed to do anything in near term. Pullbacks are good to get rid of froth & we are back @ looking north.
BLOG does NOT give buy or sell.
Saleem
Indices @ low of the day....
Indices are showing renewed weakness & is down anywhere from.65% to 1.41%.
S&P 500 @ 1497.69
Internals are negative by minimum 2 to 1
Oil Down $2.31
Gold Down .50
Canadian $ Down 39 tick @ 97.96
VIX UP 8.99% @ 16.00
Portfolio is BAC,BBRY,YHOO
Most stocks are down
@ 2.13 following are green :
DNKN,GOOG,LEN,JCP,YUM,
BIDU,MA,V,GG,AUY,MCD,
EGO,SLW,AEM.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1497.69
Internals are negative by minimum 2 to 1
Oil Down $2.31
Gold Down .50
Canadian $ Down 39 tick @ 97.96
VIX UP 8.99% @ 16.00
Portfolio is BAC,BBRY,YHOO
Most stocks are down
@ 2.13 following are green :
DNKN,GOOG,LEN,JCP,YUM,
BIDU,MA,V,GG,AUY,MCD,
EGO,SLW,AEM.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, February 20, 2013
Indices closed down .77% to 1.53%.....
Indices had a reversal after a long time.
S&P 500 @ 1511.95
RSI @ 56.79
CMF @ 0.255
Internals were :
Down volume led by 9.72 to 1 in NYSE & 6.01 to 1 in Nasdaq
Declining stocks led by 3.24 to 1 in NYSE & 3.65 to 1 in Nasdaq
Net new 52 wk highs were leading by 243 in NYSE & 145 in Nasdaq
VIX jumped 19.25% @ 14.68
Oil @ $95.22
Gold @ $1578.00
AH Futures UP
AH Asian Market Down
AH Oil & Gold Down
About market, IBD is changing its market outlook to "market under pressure". Fed minutes were taken as " policy statement" which it is not. Fed is facing a balance sheet of $3 trillion & additional $85 billion in monthly purchases. In meetings it is their responsibility to discuss pros & cons of their effort & its impact. Yes several members are leaning towards "easing some of their buying commitment"......as they feel that it is going to hurt US economy in the long run, but Fed chief & majority is saying "easing of buying will hurt US economy". I believe that majority of traders "panicked & punched sell button". Market should find its footing by close on Thursday as Fed noted US economy improved in Q4.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1511.95
RSI @ 56.79
CMF @ 0.255
Internals were :
Down volume led by 9.72 to 1 in NYSE & 6.01 to 1 in Nasdaq
Declining stocks led by 3.24 to 1 in NYSE & 3.65 to 1 in Nasdaq
Net new 52 wk highs were leading by 243 in NYSE & 145 in Nasdaq
VIX jumped 19.25% @ 14.68
Oil @ $95.22
Gold @ $1578.00
AH Futures UP
AH Asian Market Down
AH Oil & Gold Down
About market, IBD is changing its market outlook to "market under pressure". Fed minutes were taken as " policy statement" which it is not. Fed is facing a balance sheet of $3 trillion & additional $85 billion in monthly purchases. In meetings it is their responsibility to discuss pros & cons of their effort & its impact. Yes several members are leaning towards "easing some of their buying commitment"......as they feel that it is going to hurt US economy in the long run, but Fed chief & majority is saying "easing of buying will hurt US economy". I believe that majority of traders "panicked & punched sell button". Market should find its footing by close on Thursday as Fed noted US economy improved in Q4.
BLOG does NOT give buy or sell.
Saleem
Indices recovering after Fed minutes.....
Indices are retracing losses after Fed minutes were released, Fed minutes is positive on economy.
S&P 500 @ 1523.35
Internals are negative by 2 to 1
Oil Down $2.35
Gold Down $24.70
Canadian $ Down 57 tick @ 98.31, Canadian House prices eased a bit.
VIX UP 8.20% @ 13.33
In my portfolio :
Added 45% BAC @ $12.16
Portfolio is BAC,BBRY,YHOO
Exposure 56%
Most stocks are down
@ 2.17 following are green :
QIHU,CSOD,AMZN,JCP,YUM,FFIV,LNKD,
GMCR,NVDA,MCD,SINA.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1523.35
Internals are negative by 2 to 1
Oil Down $2.35
Gold Down $24.70
Canadian $ Down 57 tick @ 98.31, Canadian House prices eased a bit.
VIX UP 8.20% @ 13.33
In my portfolio :
Added 45% BAC @ $12.16
Portfolio is BAC,BBRY,YHOO
Exposure 56%
Most stocks are down
@ 2.17 following are green :
QIHU,CSOD,AMZN,JCP,YUM,FFIV,LNKD,
GMCR,NVDA,MCD,SINA.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, February 19, 2013
Indices closed UP to fresh new highs...NICE !!!!
Indices made a strong finish to new multi-year highs.
S&P 500 closed @ absolute highest level today @ 1530.94
RSI @ 70.98
CMF @ 0.356
Internals were :
UP volume led by 2.33 to 1 in NYSE & 2.76 to 1 in Nasdaq
Advancing stocks led by 2.25 to 1 in NYSE & 2.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 261 in NYSE & 211 in Nasdaq
VIX closed Down 1.20% @ 12.31
Oil @ $96.60
Gold @ $1604.20
Stocks which were UP 1% or more included BAC,BBRY,YHOO,
FB,KORS,LULU,AMZN,CSOD,GOOG,M,RVBD,YUM,
FFIV,COH,GMCR,ZNGA,MU,BRCM,JDSU,CIEN,
FNSR,C,FSLR,CCJ,ECA,MS,MLNX,GS,AGU,
IBN......
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE was strong & closed @ or near highs of the day. TAPE has resumed strength after basing for couple of weeks. I expect more follow through to this UP move. Internals are stronger also.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ absolute highest level today @ 1530.94
RSI @ 70.98
CMF @ 0.356
Internals were :
UP volume led by 2.33 to 1 in NYSE & 2.76 to 1 in Nasdaq
Advancing stocks led by 2.25 to 1 in NYSE & 2.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 261 in NYSE & 211 in Nasdaq
VIX closed Down 1.20% @ 12.31
Oil @ $96.60
Gold @ $1604.20
Stocks which were UP 1% or more included BAC,BBRY,YHOO,
FB,KORS,LULU,AMZN,CSOD,GOOG,M,RVBD,YUM,
FFIV,COH,GMCR,ZNGA,MU,BRCM,JDSU,CIEN,
FNSR,C,FSLR,CCJ,ECA,MS,MLNX,GS,AGU,
IBN......
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE was strong & closed @ or near highs of the day. TAPE has resumed strength after basing for couple of weeks. I expect more follow through to this UP move. Internals are stronger also.
BLOG does NOT give buy or sell.
Saleem
Indices UP .34% to .57%....NICE !!!!
Indices are making multi-year highs again.
S&P 500 @ 1528.45, high so far is 1528.55
Internals are positive by almost 2 to 1
Oil UP 15 cents
Gold Down $6.00
Canadian $ Down 23 tick @ 98.72, a 7 month low was reached today on poor economic data.
VIX Down .40% @ 12.41
Portfolio is BAC,BBRY,YHOO
Most stocks are UP
@ 2.08 following are red :
CLF,DNKN,AAPL,POT,MOS,CMG,EXPE,
LEN,JCP,LVS,BIDU,LNKD,V,CRUS,MON,
NVDA,EGO,SLW,AEM,SINA,WYNN,FCX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1528.45, high so far is 1528.55
Internals are positive by almost 2 to 1
Oil UP 15 cents
Gold Down $6.00
Canadian $ Down 23 tick @ 98.72, a 7 month low was reached today on poor economic data.
VIX Down .40% @ 12.41
Portfolio is BAC,BBRY,YHOO
Most stocks are UP
@ 2.08 following are red :
CLF,DNKN,AAPL,POT,MOS,CMG,EXPE,
LEN,JCP,LVS,BIDU,LNKD,V,CRUS,MON,
NVDA,EGO,SLW,AEM,SINA,WYNN,FCX....
BLOG does NOT give buy or sell.
Saleem
Sunday, February 17, 2013
Market @ crossroad ?
Market is sitting near multi year highs.
S&P 500 @ 1519.79
RSI @ 66.40
IF we cut all the NOISE, which is plenty these days of an imminent 10% to 20% pullback, there is an ongoing STRENGTH in TAPE.
Many negatives are being talked about on a daily basis, some of them are :
-Company insiders are selling 9 to 1
-Dumb money is buying NOW
-AAII reporting bullish sentiment @ 2 year high
Fed minutes is being released on Wednesday which MAY impact this market.
Politicians will be in focus to deal with difficult budget issues.
Fed & politicians may be ready to give us a "positive surprise" as expectations are very low.
Caution is definitely warranted @ these levels but nothing justifies to be in Panic mode.
RSI has some room to run.
I have not seen "euphoric buying yet"
When RSI hit 75...then its time to be "very worried"
I am basing all this on "historical numbers"
TAPE continues to reward "good picks"
YES...it is important to keep an eye on "euphoria" but we are NOT there yet.
Most traders are optimistic till April....then major pullback......
Seasonal pattern is into play until April.......
All of the above is based on seasonal pattern, which may be a "better indicator than all the NOISE put together"
When i look @ S&P 500 chart for answer...it is still looking HEALTHY
We are "worrying type as trader, but it is important to look @ extreme overbought numbers as guidance".
I am more "constructive now" because many technicians are becoming "bearish"......being CONTRARY is a good approach.
YES...exposure CAN & SHOULD be reduced, but staying in market is a WISE approach.
SO..stay worried, but be IN the market.
Good luck in your OWN comfort level.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1519.79
RSI @ 66.40
IF we cut all the NOISE, which is plenty these days of an imminent 10% to 20% pullback, there is an ongoing STRENGTH in TAPE.
Many negatives are being talked about on a daily basis, some of them are :
-Company insiders are selling 9 to 1
-Dumb money is buying NOW
-AAII reporting bullish sentiment @ 2 year high
Fed minutes is being released on Wednesday which MAY impact this market.
Politicians will be in focus to deal with difficult budget issues.
Fed & politicians may be ready to give us a "positive surprise" as expectations are very low.
Caution is definitely warranted @ these levels but nothing justifies to be in Panic mode.
RSI has some room to run.
I have not seen "euphoric buying yet"
When RSI hit 75...then its time to be "very worried"
I am basing all this on "historical numbers"
TAPE continues to reward "good picks"
YES...it is important to keep an eye on "euphoria" but we are NOT there yet.
Most traders are optimistic till April....then major pullback......
Seasonal pattern is into play until April.......
All of the above is based on seasonal pattern, which may be a "better indicator than all the NOISE put together"
When i look @ S&P 500 chart for answer...it is still looking HEALTHY
We are "worrying type as trader, but it is important to look @ extreme overbought numbers as guidance".
I am more "constructive now" because many technicians are becoming "bearish"......being CONTRARY is a good approach.
YES...exposure CAN & SHOULD be reduced, but staying in market is a WISE approach.
SO..stay worried, but be IN the market.
Good luck in your OWN comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, February 15, 2013
Indices closed Mixed......
Indices struggled whole day & closed mixed.
S&P 500 @ 1519.79
RSI @ 66.40
CMF @ 0.362
Internals were :
Down volume led by 1.45 to 1 in NYSE & 1.73 to 1 in Nasdaq
Declining stocks led by 1.06 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 264 in NYSE & 166 in Nasdaq
VIX Down 1.58% @ 12.46..low today 12.24 which was a previous 52 wk low.
Oil @ $95.86
Gold @ $1609.50
Canadian $ Down Down 53 tick @ 99.39, manufacturing data was well below consensus.
In my portfolio :
Sold FB
Portfolio is BAC,BBRY,YHOO
Exposure 44%
Stocks which were UP included KORS,LULU,
DNKN,MOS,MON,GOOG,FFIV,COH,
LNKD,MA,V,SNDK,SINA,MGA...
Next post by 2 PM Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1519.79
RSI @ 66.40
CMF @ 0.362
Internals were :
Down volume led by 1.45 to 1 in NYSE & 1.73 to 1 in Nasdaq
Declining stocks led by 1.06 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 264 in NYSE & 166 in Nasdaq
VIX Down 1.58% @ 12.46..low today 12.24 which was a previous 52 wk low.
Oil @ $95.86
Gold @ $1609.50
Canadian $ Down Down 53 tick @ 99.39, manufacturing data was well below consensus.
In my portfolio :
Sold FB
Portfolio is BAC,BBRY,YHOO
Exposure 44%
Stocks which were UP included KORS,LULU,
DNKN,MOS,MON,GOOG,FFIV,COH,
LNKD,MA,V,SNDK,SINA,MGA...
Next post by 2 PM Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, February 14, 2013
Indices closed mixed again......
Indices staged a comeback but DOW closed red.
S&P 500 @ 1521.38
RSI @ 67.82
CMF @ 0.373
Internals were :
UP volume led by 1.09 to 1 in NYSE & 1.32 to 1 in Nasdaq
Advancing stocks led by 1.00 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 293 in NYSE & 161 in Nasdaq
VIX closed Down 2.47% @ 12.66, getting close to 52 wk low of 12.29
Stocks which were UP 1% or more included FB,BBRY,
QIHU,JCP,PANW,LNKD,GMCR,MU,BRCM,NVDA,
FSLR,X,STLD,CCJ,SINA,KOG......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Volume picked up above average. Internals A/D line is still troubling. TAPE is holding up & closing near highs of the day for two days, which is a good sign. Many stocks are setting UP for new highs, good to play those instead of laggards.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1521.38
RSI @ 67.82
CMF @ 0.373
Internals were :
UP volume led by 1.09 to 1 in NYSE & 1.32 to 1 in Nasdaq
Advancing stocks led by 1.00 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 293 in NYSE & 161 in Nasdaq
VIX closed Down 2.47% @ 12.66, getting close to 52 wk low of 12.29
Stocks which were UP 1% or more included FB,BBRY,
QIHU,JCP,PANW,LNKD,GMCR,MU,BRCM,NVDA,
FSLR,X,STLD,CCJ,SINA,KOG......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Volume picked up above average. Internals A/D line is still troubling. TAPE is holding up & closing near highs of the day for two days, which is a good sign. Many stocks are setting UP for new highs, good to play those instead of laggards.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are trying to recover from weakness @ open. Dow is red.
S&P 500 @ 1521.11
Internals are mixed.
Oil UP 26 cents
Gold Down $11.50
Canadian $ UP 9 tick @ 99.90
VIX Down 1.46% @ 12.79
Portfolio is BAC,FB,BBRY,YHOO
Most stocks are UP
@ 1.57 following are Down :
LULU,EXPE,MOS,POT,PCLN,HMC,M,
LEN,RVBD,SU,YUM,LVS,BIDU,FFIV,
COH,LRCX,FNSR,MON,SBUX,MCD,
SLW,AEM,ECA,MGA,MLNX,AGU,
IBN,FCX......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1521.11
Internals are mixed.
Oil UP 26 cents
Gold Down $11.50
Canadian $ UP 9 tick @ 99.90
VIX Down 1.46% @ 12.79
Portfolio is BAC,FB,BBRY,YHOO
Most stocks are UP
@ 1.57 following are Down :
LULU,EXPE,MOS,POT,PCLN,HMC,M,
LEN,RVBD,SU,YUM,LVS,BIDU,FFIV,
COH,LRCX,FNSR,MON,SBUX,MCD,
SLW,AEM,ECA,MGA,MLNX,AGU,
IBN,FCX......
BLOG does NOT give buy or sell.
Saleem
Wednesday, February 13, 2013
Mixed close.....
Indices closed mixed with Dow being down.
S&P 500 @ 1520.33
RSI @ 67.39
CMF @ 0.370
Internals were :
UP volume led by 1.04 to 1 in NYSE & 1.20 to 1 in Nasdaq
Advancing stocks led by 1.46 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 276 in NYSE & 159 in Nasdaq
VIX closed UP 2.69% @ 12.98
Oil @ $97.01
Gold @ $1645.10
Stocks which were UP 1% or more included FB,QIHU,AMZN,
MOS,JCP,LNKD,GMCR,CIEN,MON,MLNX......
AH ER :
NTAP Down 1.70%
CSCO Down 1.94%
WFM Down 6.24%
TRIP Down 10.45%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, S&P 500 volume was low again & internals are weak. TAPE is giving all the signal to book any gains QUICKLY. We do not know how long low volume can carry this rally but caution is warranted. TAPE looks TIRED.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1520.33
RSI @ 67.39
CMF @ 0.370
Internals were :
UP volume led by 1.04 to 1 in NYSE & 1.20 to 1 in Nasdaq
Advancing stocks led by 1.46 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 276 in NYSE & 159 in Nasdaq
VIX closed UP 2.69% @ 12.98
Oil @ $97.01
Gold @ $1645.10
Stocks which were UP 1% or more included FB,QIHU,AMZN,
MOS,JCP,LNKD,GMCR,CIEN,MON,MLNX......
AH ER :
NTAP Down 1.70%
CSCO Down 1.94%
WFM Down 6.24%
TRIP Down 10.45%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, S&P 500 volume was low again & internals are weak. TAPE is giving all the signal to book any gains QUICKLY. We do not know how long low volume can carry this rally but caution is warranted. TAPE looks TIRED.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ new multi-year high.....NICE !!!
Indices are mixed with Dow being down.
S&P 500 @ 1520.63, high today so far 1524.69 which is multi year high.
Internals are positive
Oil Unchanged
Gold Down $6.90
Canadian $ UP 5 tick @ 99.85
VIX UP 3.01 @ 13.02
Portfolio is BAC,FB,BBRY,YHOO
Most stocks are UP
@ 1.50 following are down :
BBRY,KORS,CLF,LULU,CSOD,CF,CMG,
LEN,M,RVBD,YUM,PANW,FFIV,GG,
MA,V,CRUS,C,QCOM,FSLR,SBUX,
MCD,STLD,EGO,GG,BJRI,AGU....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1520.63, high today so far 1524.69 which is multi year high.
Internals are positive
Oil Unchanged
Gold Down $6.90
Canadian $ UP 5 tick @ 99.85
VIX UP 3.01 @ 13.02
Portfolio is BAC,FB,BBRY,YHOO
Most stocks are UP
@ 1.50 following are down :
BBRY,KORS,CLF,LULU,CSOD,CF,CMG,
LEN,M,RVBD,YUM,PANW,FFIV,GG,
MA,V,CRUS,C,QCOM,FSLR,SBUX,
MCD,STLD,EGO,GG,BJRI,AGU....
BLOG does NOT give buy or sell.
Saleem
Tuesday, February 12, 2013
S&P 500 closed @ new multi-year highs.....NICE !!!
Indices closed mixed with Nasdaq being in red.
S&P 500 @ 1519.43
RSI @ 67.04
CMF @ .406
Internals were :
UP volume led by 1.96 to 1 in NYSE & 1.28 to 1 in Nasdaq
Advancing issues led by 1.85 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 270 in NYSE & 145 in Nasdaq
VIX closed Down 2.32% @ 12.64
Oil @ $97.51
Gold @ $1649.60
Stocks which were UP 1% or more included BAC,YHOO,
KORS,EXPE,PCLN,LEN,PANW,GMCR,BRCM,C,
FSLR,SLW,AEM,MS,BJRI,GS.....
AH ER CLF Down 10.13%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
In my portfolio :
Sold 40% BBRY
Bought YHOO @ $21.22
Portfolio is FB 30.04%, BBRY 26.69%, YHOO 26.07%, BAC 17.20%
Exposure 75%
About market, Internals & volume remains a question mark. As i am uncomfortable with these divergence which is telling me that rally is weakening or is of low quality, i will be trading a lot to book quick profit & re-entering same trades @ slightly lower prices.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1519.43
RSI @ 67.04
CMF @ .406
Internals were :
UP volume led by 1.96 to 1 in NYSE & 1.28 to 1 in Nasdaq
Advancing issues led by 1.85 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 270 in NYSE & 145 in Nasdaq
VIX closed Down 2.32% @ 12.64
Oil @ $97.51
Gold @ $1649.60
Stocks which were UP 1% or more included BAC,YHOO,
KORS,EXPE,PCLN,LEN,PANW,GMCR,BRCM,C,
FSLR,SLW,AEM,MS,BJRI,GS.....
AH ER CLF Down 10.13%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
In my portfolio :
Sold 40% BBRY
Bought YHOO @ $21.22
Portfolio is FB 30.04%, BBRY 26.69%, YHOO 26.07%, BAC 17.20%
Exposure 75%
About market, Internals & volume remains a question mark. As i am uncomfortable with these divergence which is telling me that rally is weakening or is of low quality, i will be trading a lot to book quick profit & re-entering same trades @ slightly lower prices.
BLOG does NOT give buy or sell.
Saleem
Indices UP .08% to .47%......NICE !!!!
Indices are in bull mode again.
S&P 500 @ 1521.82, new high 1522.29
Internals are positive.
Oil UP 51 cents
Gold UP 20 cents
Canadian $ UP 29 tick @ 99.75
VIX Down .93% @ 12.82
In my portfolio :
Sold YHOO
Bought FB @ $27.75
Bought BAC @ $11.90
Portfolio is BAC,FB,BBRY
Exposure 74%
Most stocks are UP
@ 1.34 following are down :
FB,BBRY,CF,DNKN,AAPL,POT,JCP,HMC,
RVBD,BIDU,FFIV,LNKD,MA,QCOM,MON,
SINA,MLNX,AGU......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1521.82, new high 1522.29
Internals are positive.
Oil UP 51 cents
Gold UP 20 cents
Canadian $ UP 29 tick @ 99.75
VIX Down .93% @ 12.82
In my portfolio :
Sold YHOO
Bought FB @ $27.75
Bought BAC @ $11.90
Portfolio is BAC,FB,BBRY
Exposure 74%
Most stocks are UP
@ 1.34 following are down :
FB,BBRY,CF,DNKN,AAPL,POT,JCP,HMC,
RVBD,BIDU,FFIV,LNKD,MA,QCOM,MON,
SINA,MLNX,AGU......
BLOG does NOT give buy or sell.
Saleem
Monday, February 11, 2013
Indices closed down .06% to .16%.....
Indices stayed in red whole day & closed lower.
S&P 500 @ 1517.01
RSI @ 66.14
CMF @ 0.425
Internals were :
Down volume led by 1.06 to 1 in NYSE & .83 to 1 in Nasdaq
Declining stocks led by 1.23 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 114 in Nasdaq
VIX closed Down .61% @ 12.94
Oil @ $97.03
Gold @ $1649.10
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, although indices & VIX close were positive for market, volume was lowest in five months today for a normal day. Volume is a major predictor of TAPE trend. Monitor market volume closely. This is still a "stock pickers market"...IF you have stocks performing "better than market" then your portfolio can offset any negative TAPE action.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1517.01
RSI @ 66.14
CMF @ 0.425
Internals were :
Down volume led by 1.06 to 1 in NYSE & .83 to 1 in Nasdaq
Declining stocks led by 1.23 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 114 in Nasdaq
VIX closed Down .61% @ 12.94
Oil @ $97.03
Gold @ $1649.10
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold Down
About market, although indices & VIX close were positive for market, volume was lowest in five months today for a normal day. Volume is a major predictor of TAPE trend. Monitor market volume closely. This is still a "stock pickers market"...IF you have stocks performing "better than market" then your portfolio can offset any negative TAPE action.
BLOG does NOT give buy or sell.
Saleem
Indices down .18% to .25%.......
Indices are starting the week on a down note.
S&P 500 @ 1515.20
Internals are negative
Oil UP 95 cents
Gold Down $18.50
Canadian $ Down 41 tick @ 99.41
VIX UP .92% @ 13.14
In my portfolio :
Sold BAC
Added 30% BBRY @ $15.40
Portfolio is BBRY (70%) & YHOO (30%)
Exposure 50%
Most stocks are down
@ 1.59 following are green :
YHOO,BAC,DNKN,AAPL,CSOD,CMG,
HMC,M,JCP,CLF,LNKD,CRUS,LRCX,
ZNGA,MU,BRCM,JDSU,C,QCOM,
MON,NVDA,FSLR,MCD,X,STLD,
MGA,BJRI,AGU,IBN......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1515.20
Internals are negative
Oil UP 95 cents
Gold Down $18.50
Canadian $ Down 41 tick @ 99.41
VIX UP .92% @ 13.14
In my portfolio :
Sold BAC
Added 30% BBRY @ $15.40
Portfolio is BBRY (70%) & YHOO (30%)
Exposure 50%
Most stocks are down
@ 1.59 following are green :
YHOO,BAC,DNKN,AAPL,CSOD,CMG,
HMC,M,JCP,CLF,LNKD,CRUS,LRCX,
ZNGA,MU,BRCM,JDSU,C,QCOM,
MON,NVDA,FSLR,MCD,X,STLD,
MGA,BJRI,AGU,IBN......
BLOG does NOT give buy or sell.
Saleem
Sunday, February 10, 2013
Option Expiry this week to impact TAPE ?
This week is monthly Option Expiry for VIX & Stocks.
Wednesday is VIX Option Expiry...
Friday is monthly Stock Option Expiry.....
These two expiry may impact TAPE in a negative mode.
Net new 52 wk highs are NOT expanding with market highs on Friday, which is an important technical picture.
With S&P sitting @ 1517.93, it looks like it is NOT likely to take on all time high of 1576.09 in S&P 500 in this run. On a closing basis there is resistance of 1560.......
TAPE looks tired @ this stage, so it needs rest & MAY pullback slightly.
Support in S&P 500 is @ 1480 area
Ratio of Bull / Bear is also getting into overbought territory, currently Bulls are 54.7% & Bears are 21.1%
VIX also in OVERSOLD area @ 13.02 awfully close to 52 wk low of 12.29........
In summary, we MAY have few more days of WEAK rally & then MAYBE downward move.
It is important to look @ technicals in a comparative picture, RSI which reached 74 area in third week of January 2013, brought it down to support in two weeks time & rally started again to current levels.
SO...we are looking @ short spurt of weakness & then rally.......
It is important to recognize that technicals are NOT robust lately.
Friday we made a new 5 year high on below average volume, NOT a sign of "strong technical picture"
How you play this weakening technical picture depends on your OWN comfort level & stock performance of your portfolio.
SO..keep a close eye on the performance of your stock portfolio.
Overall trend is UP but it may be more bumpy from hereon.
BLOG does NOT give buy or sell.
Saleem
Wednesday is VIX Option Expiry...
Friday is monthly Stock Option Expiry.....
These two expiry may impact TAPE in a negative mode.
Net new 52 wk highs are NOT expanding with market highs on Friday, which is an important technical picture.
With S&P sitting @ 1517.93, it looks like it is NOT likely to take on all time high of 1576.09 in S&P 500 in this run. On a closing basis there is resistance of 1560.......
TAPE looks tired @ this stage, so it needs rest & MAY pullback slightly.
Support in S&P 500 is @ 1480 area
Ratio of Bull / Bear is also getting into overbought territory, currently Bulls are 54.7% & Bears are 21.1%
VIX also in OVERSOLD area @ 13.02 awfully close to 52 wk low of 12.29........
In summary, we MAY have few more days of WEAK rally & then MAYBE downward move.
It is important to look @ technicals in a comparative picture, RSI which reached 74 area in third week of January 2013, brought it down to support in two weeks time & rally started again to current levels.
SO...we are looking @ short spurt of weakness & then rally.......
It is important to recognize that technicals are NOT robust lately.
Friday we made a new 5 year high on below average volume, NOT a sign of "strong technical picture"
How you play this weakening technical picture depends on your OWN comfort level & stock performance of your portfolio.
SO..keep a close eye on the performance of your stock portfolio.
Overall trend is UP but it may be more bumpy from hereon.
BLOG does NOT give buy or sell.
Saleem
Friday, February 8, 2013
Indices closed UP .35% to .91%......NICE !!!!
Indices were making new 5 year highs.
S&P 500 closed @ 1517.93, high today was 1518.31.
Our much talked about "genius of stock market" Doug Kass announced in mid January that we will see highs of 2013 in January 2013 & he has " the HIGHEST short position in a year since that time"...but FACTS are proving, that he is doing worse in market prediction than a cab driver in Manhattan, maybe he should ask a NY cabbie where market is heading next time, before he goes on CNBC???
RSI @ 66.79
CMF @ 0.438
Internals were :
UP volume led by 1.91 to 1 in NYSE & .39 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 1.75 to 1 in Nasdaq
Net new 52 wk highs were leading by 286 in NYSE & 157 in Nasdaq
VIX Down 3.56% @ 13.02...on its way to making new 52 wk lows?
Oil @ $95.72
Gold @ $1666.90
Canadian @ @ 99.84..below US$ on bad jobs report, lost 21,900 jobs instead of 0 loss.
Portfolio is BAC,BBRY,YHOO
Stocks which were UP 1% or more included DNKN,AAPL,CSOD,
GOOG,PCLN,YUM,LVS,PANW,LNKD,ZNGA,BRCM,KOG,
WYNN.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 closed @ 1517.93, high today was 1518.31.
Our much talked about "genius of stock market" Doug Kass announced in mid January that we will see highs of 2013 in January 2013 & he has " the HIGHEST short position in a year since that time"...but FACTS are proving, that he is doing worse in market prediction than a cab driver in Manhattan, maybe he should ask a NY cabbie where market is heading next time, before he goes on CNBC???
RSI @ 66.79
CMF @ 0.438
Internals were :
UP volume led by 1.91 to 1 in NYSE & .39 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 1.75 to 1 in Nasdaq
Net new 52 wk highs were leading by 286 in NYSE & 157 in Nasdaq
VIX Down 3.56% @ 13.02...on its way to making new 52 wk lows?
Oil @ $95.72
Gold @ $1666.90
Canadian @ @ 99.84..below US$ on bad jobs report, lost 21,900 jobs instead of 0 loss.
Portfolio is BAC,BBRY,YHOO
Stocks which were UP 1% or more included DNKN,AAPL,CSOD,
GOOG,PCLN,YUM,LVS,PANW,LNKD,ZNGA,BRCM,KOG,
WYNN.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, February 7, 2013
Indices closed down .11% to .30%.....
Indices closed slightly lower.
S&P 500 @ 1509.39
RSI @ 63.74
CMF @ 0.445
Internals were :
Down volume led by 1.82 to 1 in NYSE & 1.57 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.64 to 1 in Nasdaq
Net new 52 wk highs were leading by 203 in NYSE & 110 in Nasdaq
VIX closed UP .67% @ 13.50
Oil @ $95.83
Gold @ $1671.30
AH ER :
CSTR Down 8.69%
LNKD UP 9.48%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Our two world famous market timer Doug Kass & Brian Kelly are calling this market summer of 1987 when we had 26% DROP IN ONE DAY ON A MONDAY & BK calling it BUBBLE.... Those who follow any technical indicator KNOW that, we are not even close to extreme overbought conditions ANYWHERE.... never mind all time extreme or bubble created in the RUNUP to October 1987 crash????? Market remains healthy & is closing near highs of the day on any minor pullback.S&P 500 has been basing for five days near same level, will not surprise me IF we break out on Friday..yes tomorrow.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1509.39
RSI @ 63.74
CMF @ 0.445
Internals were :
Down volume led by 1.82 to 1 in NYSE & 1.57 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.64 to 1 in Nasdaq
Net new 52 wk highs were leading by 203 in NYSE & 110 in Nasdaq
VIX closed UP .67% @ 13.50
Oil @ $95.83
Gold @ $1671.30
AH ER :
CSTR Down 8.69%
LNKD UP 9.48%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Our two world famous market timer Doug Kass & Brian Kelly are calling this market summer of 1987 when we had 26% DROP IN ONE DAY ON A MONDAY & BK calling it BUBBLE.... Those who follow any technical indicator KNOW that, we are not even close to extreme overbought conditions ANYWHERE.... never mind all time extreme or bubble created in the RUNUP to October 1987 crash????? Market remains healthy & is closing near highs of the day on any minor pullback.S&P 500 has been basing for five days near same level, will not surprise me IF we break out on Friday..yes tomorrow.
BLOG does NOT give buy or sell.
Saleem
Indices down .37% to .46%......
Indices are fighting back & have recovered more than half of their losses. Mario Draghi comment caused selling.
S&P 500 @ 1506.54
Internals are negative by almost 2 to 1
Oil Down 86 cents
Gold Down $6.90
Canadian $ Down 24 tick @ 100.18
VIX UP 3.80% @ 13.92
In my portfolio :
Sold CRUS
Applied proceed from CRUS to buy more BBRY @ $16.39...BBRY is my largest position ever.....things are looking UP for BBRY......
Portfolio is BAC,BBRY,YHOO
Exposure 85%
Most stocks are down
@ 2.07 following are UP :
BBRY,YHOO,KORS,DNKN,AAPL,GOOG,M,
YUM,ZNGA,FSLR,SLW,MLNX,BJRI.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1506.54
Internals are negative by almost 2 to 1
Oil Down 86 cents
Gold Down $6.90
Canadian $ Down 24 tick @ 100.18
VIX UP 3.80% @ 13.92
In my portfolio :
Sold CRUS
Applied proceed from CRUS to buy more BBRY @ $16.39...BBRY is my largest position ever.....things are looking UP for BBRY......
Portfolio is BAC,BBRY,YHOO
Exposure 85%
Most stocks are down
@ 2.07 following are UP :
BBRY,YHOO,KORS,DNKN,AAPL,GOOG,M,
YUM,ZNGA,FSLR,SLW,MLNX,BJRI.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, February 6, 2013
Mixed close....
Indices closed mixed with Nasdaq being red by few tick.
S&P 500 @ 1512.12
RSI @ 65.53
CMF @ 0.421
Internals were :
UP volume led by 1.71 to 1 in NYSE & 1.11 to 1 in Nasdaq
Advancing stocks led by 1.46 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 188 in NYSE & 107 in Nasdaq
VIX closed Down 2.26% @ 13.41
Oil @ $96.62
Gold @ $1678.80
AH ER / News :
V Down 1.31%
YELP Down 2.82%
GMCR Down 7.03%
AKAM Down 15.70%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE remains strong as we closed near high of the day. How we close is a strong indicator of the strength of this market, that is when NOISE subsides. This TAPE has all the marking of a strong bull market. Stay invested.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1512.12
RSI @ 65.53
CMF @ 0.421
Internals were :
UP volume led by 1.71 to 1 in NYSE & 1.11 to 1 in Nasdaq
Advancing stocks led by 1.46 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 188 in NYSE & 107 in Nasdaq
VIX closed Down 2.26% @ 13.41
Oil @ $96.62
Gold @ $1678.80
AH ER / News :
V Down 1.31%
YELP Down 2.82%
GMCR Down 7.03%
AKAM Down 15.70%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE remains strong as we closed near high of the day. How we close is a strong indicator of the strength of this market, that is when NOISE subsides. This TAPE has all the marking of a strong bull market. Stay invested.
BLOG does NOT give buy or sell.
Saleem
Indices Down .17% to .29%.....
Indices are down after a sharp snapback yesterday.
S&P 500 @ 1508.08
Internals are negative
Oil Down 9 cents
Gold UP $4.00
Canadian $ Down 10 tick @ 100.28
VIX UP 2.19% @ 14.02
In my portfolio :
Added 150% BBRY @ 15.84
Portfolio is BAC,CRUS,BBRY,YHOO
Exposure 85%
Most stocks are down
@ 2.08 following are green :
BBRY,CRUS,YHOO,KORS,FB,LULU,
AAPL,CMG,GOOG,RVBD,YUM,BIDU,
FFIV,COH,CLF,LNKD,PCLN,GMCR,
ZNGA,JDSU,SNDK,MOS,FSLR,MCD,
X,STLD,SLW,MA,SINA,MGA,BJRI,
FCX,AGU.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1508.08
Internals are negative
Oil Down 9 cents
Gold UP $4.00
Canadian $ Down 10 tick @ 100.28
VIX UP 2.19% @ 14.02
In my portfolio :
Added 150% BBRY @ 15.84
Portfolio is BAC,CRUS,BBRY,YHOO
Exposure 85%
Most stocks are down
@ 2.08 following are green :
BBRY,CRUS,YHOO,KORS,FB,LULU,
AAPL,CMG,GOOG,RVBD,YUM,BIDU,
FFIV,COH,CLF,LNKD,PCLN,GMCR,
ZNGA,JDSU,SNDK,MOS,FSLR,MCD,
X,STLD,SLW,MA,SINA,MGA,BJRI,
FCX,AGU.....
BLOG does NOT give buy or sell.
Saleem
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