Indices closed almost flat on the day.
S&P 500 @ 1578.79
RSI @ 56.41
CMF @ 0.251
Internals were :
UP volume led by 2.24 to 1 in NYSE & 1.56 to 1 in Nasdaq
Advancing stocks led by 1.93 to 1 in NYSE & 1.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 259 in NYSE & 81 in Nasdaq
VIX UP .96% @ 13.61
Oil @ $91.43
Gold @ $1423.70
Stocks which were UP 1% or more included BBRY,
YHOO,AUY,RDN,COH,LULU,POT,MOS,AGU,
TCK,BAC,CLF,CF,SU,YUM,LVS,WYNN,
PANW,JASO,FSLR,SPWR,GG,EGO,SLW,
AEM,CRUS,GMCR,ZNGA,LRCX,BRCM,
C,SNDK,NVDA,MCD,X,STLD,CCJ,
SINA,MGA,KOG,IBN,FCX...
AH ER:
Negative reaction :
QCOM -5.76%, MLNX -6.19%, ZNGA -8.93%, CTXS -11.32%
Positive reaction :
LRCX +2.84%, WDC +3.97%, CLF +4.34%, AKAM +17.70%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE has new life as ECB is all set to cut interest rate to give boost to European economy. Bad economic news is taken as good news & better news is taken as great news, that IS the current environment. There was a major shift in sector preference, commodities, Solar,Oil, Base metals & Precious Metals was the flavor of the day. Ironically IBD still thinks "market is in correction"...while we have moved UP almost 2.74% from recent low.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
FIO was also up 12% after reporting. I listened to the conference call but was mostly uninterested in their "good news". The space is just so competitive right now and it's hard to see the clear winner. FIO has the lead, but others have deep pockets. There's also the risk of just pure commoditization.
Interestingly, my brokerage has no shares available to short.
Stocktrader
Hi Stocktrader,
Thanks for FIO add-on.
I have lost track of this company, i am glad you gave your take on their business.
Saleem
Hey Saleem,
Sold the last TZA hedge @ 36.86. I possibly could have waited for a better price, but I see no reason to be short right now. The rally has broadened significantly as compared to the one earlier this month that failed.
Stocktrader
Hi Stocktrader,
YES....its AG,Coal & everything which comes out of mother earth is rallying.
CLF is doing great for you 25% UP
Added 20% JCP @ $15.25....
Saleem
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