Indices closed down on German economic data & Cyprus.
S&P 500 @ 1545.80
RSI @ 56.04
CMF @ 0.345
Internals were :
Down volume led by 3.39 to 1 in NYSE & 2.37 to 1 in Nasdaq
Declining stocks led by 1.84 to 1 in NYSE & 2.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 171 in NYSE & 78 in Nasdaq
VIX UP 10.42% @ 13.99
Oil @ $92.45
Gold @ $1613.80
AH ER :
MU UP 3.42%
NKE UP 8.47%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under pressure from Germany & Cyprus. Cyprus is dragging longer than what market was ready, uncertainty is never good. Once there is enough clarity about Cyprus resolution & resumption of EU injection of funds, bull will take charge again. In the meantime adjust your portfolio to stronger stocks than weakening fundamental.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Cyprus is definitely dragging on longer than I expected but eventual certainty should be good. Here's something I posted earlier on an old thread not remembering to check for the 2 PM one:
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Hey Saleem,
Ended up selling WPRT @ 29.75 near close. I'm getting tossed around in a lot of these stocks I'm selling, then rebuying, and then reselling, but price action looked bad enough that I had to act.
I almost turned around and bought RDN but I decided to wait for now.
Stocktrader
March 21, 2013 at 1:25 PM
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Hi Stocktrader,
It is never too late to rethink about any position.
We all try try until we succeed.
Good luck with your next pick.
Saleem
Hey Saleem,
What do you think of the fertilizers, specifically CF? I am thinking about selling it, but I'm afraid to be caught selling at the lows. Do you really fear the outlook as much as we've been hearing from analysts?
Stocktrader
Hi Stocktrader,
Generally Ag is under pressure.
Corn prices is the issue with CF...
CF may bounce with the market today..it is certainly not in the strongest sector....
Good luck with your decision.
Saleem
Hey Saleem,
Made some moves to adjust the portfolio this morning:
Bought BSFT @ 25.52
Sold CF @ 193.50
Bought speculative size position in MRIN @ 18.02
Bought MS @ 22.248
I like BSFT on this pullback after selling @ 27.20 on Monday--this is one stock I actually got right! Sold the CF due to ag weakness and more lack of upside than anything. I bought MRIN because I like their specific business in measuring online ad effectiveness. And lastly bought MS because I look to a Cyprus resolution and MS has been disproportionately hit.
Stocktrader
Hi Stocktrader,
Good moves...BSFT & MS should be productive.
Saleem
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