Indices were UP after Fed statement confirms the expected hand holding for the economy.
S&P 500 @ 1558.71
RSI @ 63.99
CMF @ 0.307
Internals were :
UP volume led by 3.30 to 1 in NYSE & 3.88 to 1 in Nasdaq
Advancing stocks led by 2.98 to 1 in NYSE & 2.48 to 1 in Nasdaq
Net new 52 wk highs were leading by 304 in NYSE & 148 in Nasdaq
VIX Down 11.95% @ 12.67
Oil@ $92.96
Gold @ $1607.50
Stocks which were UP 1% or more included BBRY,
EBAY,COH,RDN,TIF,M,QIHU,CMG,EXPE,
HMC,LEN,CLF,LVS,WYNN,BIDU,FFIV,
MA,V,JASO,SPWR,FSLR,BRCM,CIEN,
SNDK,QCOM,NVDA,SBUX,STLD,
SINA,MGA,MS,MLNX......
AH ER ORCL Down 7.20%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE got a lift from Ben Bernanke who articulated a clear path of Fed decision making process. Chinese Flash PMI came in @ 51.7% in March compared to 50.4% in Feb. Chinese data should give lift to markets worldwide. I am expecting S&P 500 to make new all time high on a closing basis on Thursday.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hey Saleem,
I stepped back into PANW @ 56.14 as it seems the weakness this month may have finally abated. Their analyst day is expected to showcase more new wins and I thought the earnings last month were standout by themselves. Also, the chart is very close to a momentum shift with the price action so far today.
(Stock just spiked $0.40 while typing this up!)
I am a little regretful selling RDN yesterday, but I think the stock really needs to rest especially given the huge secondary, even if it trends up towards the end of the month on performance chase.
Stocktrader
Hi Stocktrader,
PANW is showing strength today...they have a road show in Dubai also.
Saleem
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
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