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

2 comments:

stocktrader_1996 said...

Hey Saleem,

Sold CRUS at 27.914. The potential for weak price action based on poor sentiment/chart had me concerned for a while and a bearish QCOM analyst note this morning about slowing smartphone sales is really getting play.

I've been thinking over the last few weeks how the upgrade cycle might lengthen as we are seeing less differentiation between each new product. I wasn't sure how dramatic this might happen or how it would really impact profitability, but maybe investors are now recognizing an inflection point in sales, and I want to take a "wait and see" approach.

Add that to the fact I got some new mobile/tablet exposure with DSPG yesterday makes a sidelines approach for CRUS make a lot of sense right now.

On another note, CSOD, AXLL, GWAY, and NTAP all report after the bell tonight.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good move in getting rid of "no catalyst stock"

Good luck with your 3 AH ER......

Please post recap of all 3 AH.....

Saleem