Tuesday, April 23, 2013

Indices closed UP 1.04% to 1.11% ....NICE !!!!!

Indices closed near high of the day.

S&P 500 @ 1578.78

RSI @ 56.40

CMF @ 0.304

Internals were :

UP volume led by 4.19 to 1 in NYSE & 3.33 to 1 in Nasdaq

Advancing stocks led by 4.01 to 1 in NYSE & 3.27 to 1 in Nasdaq

Net new 52 wk highs were leading by 239 in NYSE & 104 in Nasdaq

VIX Down 6.32% @ 13.48

Oil @ $89.18

Gold @ 1408.80

AH ER :

AAPL Down .54%, VMW Down 5.87%,PNRA Down 6.34% 
JNPR Down 6.39%, CREE Down 7.44%

YUM UP 4.46%, BRCM UP 5.82%

AH Futures Down

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE followed Europe lead in moving UP as data worldwide was mostly weak. There is speculation that on May 2nd ECB will cut interest rates to stimulate European economy, same is being talked about China. When easing starts anywhere stock market takes off. US markets have been the-best performing in developed world. IF European markets takes off it will be an added boost to US stock market.

BLOG does NOT give buy or sell.

Saleem

4 comments:

stocktrader_1996 said...

Hey Saleem,

Poor durable goods numbers and the commodities are flying. It certainly seems like this market is impervious to bad news, and we look to be in that "rotating bull trend" again where a different sector takes the lead for the day.

It is difficult to be anything less than full bull here. I will likely unwind some of the hedge on any pullback.

Stocktrader

Stocks100 said...

Hi Stocktrader,

European markets yesterday gave a big clue for another leg in this bull run.

Being 100% in bull mode is a good idea.

Saleem

stocktrader_1996 said...

Hey Saleem,

Sold the TZA I could (2/3rds of it) @ 38.50. I just don't see the point for a hedge at this time--the overall market action is too constructive and there's a potential for a large catchup rally on the $RUT. I'll sell the rest tomorrow.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good move in getting out of 66% of TZA......

TAPE is healthy.....for a move UP $$$$

Saleem