Indices closed UP on better Auto Sales & Factory data.
S&P 500 @ 1570.25, high today 1573.66
RSI @ 62.83
CMF @ 0.344
Internals were :
UP volume led by .86 to 1 in NYSE & 1.15 to 1 in Nasdaq
Advancing stocks led by .94 to 1 in NYSE & .79 to 1 in Nasdaq
Net new 52 wk highs were leading by 245 in NYSE & 93 in Nasdaq
VIX Down 5.89% @ 12.78
Oil @ $97.19
Gold @ $1575.90
Stocks which were UP 1% or more included YHOO,DNKN,
SBUX,MCD,EXPE,PCLN,LULU,TIF,BIDU,FFIV,SINA,
MLNX,GOOG.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE continues its uptrend. S&P 500 all time high is next. TAPE is diverging on many stocks, some has renewed weakness & others are moving UP. Pay attention to weakness & follow strength. This week has another bullish catalyst which is jobs report. Market moves in anticipation & may trade UP on better jobs number. New fund flow for Q2 is a catalyst.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
Bought the RDN back at 10.17. It doesn't seem like any significant pullback will materialize given the good strength in the face of other financials' declines. The readthrough from FNMA is probably more like these mortgage portfolios are repairing more quickly than imagined, which will obviously help RDN tremendously.
Stocktrader
Hi Stocktrader,
Welcome back in RDN.....showing relative strength today.....
Saleem
Hey Saleem,
Nice horrible timing I had there. Guess I should have waited 10 more minutes to see if the strength would hold...
Stocktrader
Hi Stocktrader,
RDN has been a "volatile" stock....
Give it time & it will be fine..imho
Saleem
Hey Saleem,
I definitely agree, it's just always nice to get that better entry price! :)
Stocktrader
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