Indices closed lower in aftermath of Cyprus resolution.
S&P 500 @ 1551.69
RSI @ 57.58
CMF @ 0.325
Internals were :
Down volume led by 2.13 to 1 in NYSE & 1.57 to 1 in Nasdaq
Declining stocks led by 1.47 to 1 in NYSE & 1.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 270 in NYSE & 150 in Nasdaq
VIX UP 1.25% @ 13.74
Oil @ $94.81
Gold @ $1604.50
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold Down
About market, Cyprus came & went but as usual media was in overdrive to invent issues with that deal. I do not know about you, but i do not live in a "perfect world". Anyone can pick hole into anything but we have to look @ overall picture. Overall picture is, that we are much better off than before Cyprus was resolved. There is no vote of any sort involved. TAPE was pretty healthy considering every thing it had to deal with all day. We did not close near low. Internals are pretty healthy & VIX did not get any lift. So don't worry be happy.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
Even though the $VIX stayed low and the market staged a decent rebound (and my portfolio ended higher even), I get a bad feeling about periphery Europe and their banks. I'm more nervous than I've been in a while--hopefully the market and the $VIX can convince me otherwise. I really don't want to have to sell a SPLK just because Greek banks are having problems...
Stocktrader
Hi Stocktrader,
It is important to have high comfort level in your exposure.
I dont think banking issues are resolved overnight in Europe..it will take time & action by all parties....as was the case with US banks.....
Monitor indicators which will give you signal to act.
Saleem
Hi Stocktrader,
Added 25% BBRY @ $14.56.....
Saleem
Hey Saleem,
Good luck on BBRY! I am quite nervous about that stock in this vicious smartphone environment but you've had so many good calls on it that I trust your take.
Overall today makes me feel a lot better about the possible contagion in Europe, although it still lingers in my mind some.
Even though today's new home sales slightly missed, the inventory at 4.4 months tells me so many more homes need to be built and quickly. I sold my SODA @ 48.834 to buy RDN @ 10.38 and feel really good about AXLL in that same vein. I would have liked to buy a bit more RDN, but my likely sell candidates of BSFT and MS are still under restrictions for one more day--hopefully BSFT holds that gain for a little longer! :)
Stocktrader
Hi Stocktrader,
Thanks for your take on BBRY..it is the-most volatile stock in Nasdaq..UP DOWN on a daily basis.....It is reporting before open this Thursday....should be fun.
I am glad that you are in RDN....it wants to go higher but gets pulled back on a daily basis.
Saleem
Post a Comment