Indices closed @ lowest point of the day on high volume.
S&P 500 @ 1630.74
RSI @ 50.05
CMF @ 0.203
Internals were :
Down volume led by 8.26 to 1 in NYSE & 4.55 to 1 in Nasdaq
Declining stocks led by 5.66 to 1 in NYSE & 2.57 to 1 in Nasdq
Net new 52 wk lows were leading by 68 in NYSE & highs were leading by 93 in Nasdaq
VIX jumped 12.18% @ 16.30
Oil @ $91.97
Gold @ $1393.00
Canadian $ @ 96.45
Here is portfolio weighting :
AUY 36.93%
BBRY 29.58%
EBAY 25.03%
KOG 8.46%
Exposure 102%
Stocks which closed green included NFLX AMZN
GOOG TZA EXPE SPLK GRPN CIEN MS...
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, May 31, 2013
Thursday, May 30, 2013
Indices closed UP .14% to .69% ....NICE !!!!
Indices struggled to stay in green by close.
S&P 500 @ 1654.41, low today 1648.61
RSI @ 60.84
CMF @ 0.308
Internals were :
UP volume led by 1.87 to 1 in NYSE & 3.62 to 1 in Nasdaq
Advancing stocks led by 1.47 to 1 in NYSE & 2.28 to 1 in Nasdaq
Net new 52 wk highs were leading by 74 in NYSE & 129 in Nasdaq
VIX Down 2.02% @ 14.53
Oil @ $93.61
Gold @ $1412.00
Stocks which were UP 1% or more included BBRY AUY
NFLX YHOO TCK KORS AAPL PCLN FB BAC
BIDU FFIV GG AEM EGO SLW V WPRT
RVBD CRUS LRCX JDSU FNSR X
SPWR FSLR C SNDK NVDA
MGA MS Z AGU.....
AH ER :
SPLK Down 4.33%
PANW Down 14.97%
OVTI UP 22.53%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE is struggling as seen by close. There is a focus on locking gains for the year by many Money Managers & enjoying summer. TAPE is not uni-directional anymore. There should be a focus on scoring singles & not wait around for home runs.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1654.41, low today 1648.61
RSI @ 60.84
CMF @ 0.308
Internals were :
UP volume led by 1.87 to 1 in NYSE & 3.62 to 1 in Nasdaq
Advancing stocks led by 1.47 to 1 in NYSE & 2.28 to 1 in Nasdaq
Net new 52 wk highs were leading by 74 in NYSE & 129 in Nasdaq
VIX Down 2.02% @ 14.53
Oil @ $93.61
Gold @ $1412.00
Stocks which were UP 1% or more included BBRY AUY
NFLX YHOO TCK KORS AAPL PCLN FB BAC
BIDU FFIV GG AEM EGO SLW V WPRT
RVBD CRUS LRCX JDSU FNSR X
SPWR FSLR C SNDK NVDA
MGA MS Z AGU.....
AH ER :
SPLK Down 4.33%
PANW Down 14.97%
OVTI UP 22.53%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE is struggling as seen by close. There is a focus on locking gains for the year by many Money Managers & enjoying summer. TAPE is not uni-directional anymore. There should be a focus on scoring singles & not wait around for home runs.
BLOG does NOT give buy or sell.
Saleem
Indices UP .53% to .92%......NICE !!!!
Indices are UP despite huge plunge in Nikkei & softer GDP & higher unemployment claims.
S&P 500 @ 1659.55...many are waiting for this to close above 1666.
Internals are positive.
Oil UP 26 cents
Gold UP $20.80
Canadian $ UP 42 tick @ 96.91
VIX Down 2.63% @ 14.44
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 1.50 following are red :
KOG TIF TZA JCP CLF CF DNKN LULU
SU YUM GMCR RDN MON MCD ECA
SINA WYNN.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1659.55...many are waiting for this to close above 1666.
Internals are positive.
Oil UP 26 cents
Gold UP $20.80
Canadian $ UP 42 tick @ 96.91
VIX Down 2.63% @ 14.44
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 1.50 following are red :
KOG TIF TZA JCP CLF CF DNKN LULU
SU YUM GMCR RDN MON MCD ECA
SINA WYNN.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 29, 2013
Indices closed down .61% to .70%......
Indices were under selling pressure but managed to close well above low of the day.
S&P 500 @ 1648.36, low today 1640.05, lows of 4 trading day's ago 1636.42.
RSI @ 58.73
CMF @ 0.271
Internals were :
Down volume led by 2.01 to 1 in NYSE & 1.72 to 1 in Nasdaq
Declining stocks led by 4.00 to 1 in NYSE & 2.36 to 1 in Nasdaq
Net new 52 wk lows were leading by 60 in NYSE & highs were leading by 75 in Nasdaq
VIX UP 2.42% @ 14.83
Oil @ $93.13
Gold @ $1391.80
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, there is tremendous changes happening in market internals.Home builders & Lumber taking on the chin while fundamentals are "superb". Nikkei made a lower low today already of 13879.93 & is below key support of 14000. IF Jobless claims are better than expected then good news may be bad news for market. Bond yield are shooting UP 2 days in a row....that is a major change. TAPE is reflecting all these cross-current.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1648.36, low today 1640.05, lows of 4 trading day's ago 1636.42.
RSI @ 58.73
CMF @ 0.271
Internals were :
Down volume led by 2.01 to 1 in NYSE & 1.72 to 1 in Nasdaq
Declining stocks led by 4.00 to 1 in NYSE & 2.36 to 1 in Nasdaq
Net new 52 wk lows were leading by 60 in NYSE & highs were leading by 75 in Nasdaq
VIX UP 2.42% @ 14.83
Oil @ $93.13
Gold @ $1391.80
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, there is tremendous changes happening in market internals.Home builders & Lumber taking on the chin while fundamentals are "superb". Nikkei made a lower low today already of 13879.93 & is below key support of 14000. IF Jobless claims are better than expected then good news may be bad news for market. Bond yield are shooting UP 2 days in a row....that is a major change. TAPE is reflecting all these cross-current.
BLOG does NOT give buy or sell.
Saleem
Indices down .41% to .58%.....
Indices are fighting back from early selling.
S&P 500 @ 1651.75, low 1640.05
Internals are negative 2 to 1
Oil Down $1.63
Gold UP $12.70
Canadian $ UP 42 tick @ 96.45 on hawkish statement from Central Bank
VIX UP 1.59% @ 14.71......looking good for equities
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 2.08 following are green :
AUY SU PANW KORS AAPL POT MOS
BAC TZA CF LULU CMG LVS GG
GRPN WPRT RVBD GMCR MU
BRCM CIEN JDSU FNSR SNDK
CSCO FSLR C EGO SLW AEM
SPWR MGA MS MLNX GS
AGU...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1651.75, low 1640.05
Internals are negative 2 to 1
Oil Down $1.63
Gold UP $12.70
Canadian $ UP 42 tick @ 96.45 on hawkish statement from Central Bank
VIX UP 1.59% @ 14.71......looking good for equities
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 2.08 following are green :
AUY SU PANW KORS AAPL POT MOS
BAC TZA CF LULU CMG LVS GG
GRPN WPRT RVBD GMCR MU
BRCM CIEN JDSU FNSR SNDK
CSCO FSLR C EGO SLW AEM
SPWR MGA MS MLNX GS
AGU...
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 28, 2013
Indices closed UP .63% to .86%....NICE !!!!
Indices closed UP on positive data on sentiment & housing in US.
S&P 500 @ 1660.06, high 1674.21
RSI @ 65.03
CMF @ 0.324
Internals were :
UP volume led by 1.92 to 1 in NYSE & 2.70 to 1 in Nasdaq
Advancing stocks led by 1.38 to 1 in NYSE & 2.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 200 in NYSE & 216 in Nasdaq
VIX UP 3.50% @ 14.48
Stocks which were UP 1% or more included EBAY KOG
RDN PANW KORS AMZN MOS HMC LVS WYNN
FFIV GRPN WPRT CRUS MU JDSU CIEN FNSR
C SBUX STLD MS MLNX Z GS AGU IBN FCX
COH TIF CF YUM GMCR LRCX....
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, as you saw today that market lost majority of gains despite Central Bank of Japan & ECB pushing easy money. TAPE is @ critical juncture & is looking extremely vulnerable. IF we are UP for any reason it gives an opportunity to book profit.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1660.06, high 1674.21
RSI @ 65.03
CMF @ 0.324
Internals were :
UP volume led by 1.92 to 1 in NYSE & 2.70 to 1 in Nasdaq
Advancing stocks led by 1.38 to 1 in NYSE & 2.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 200 in NYSE & 216 in Nasdaq
VIX UP 3.50% @ 14.48
Stocks which were UP 1% or more included EBAY KOG
RDN PANW KORS AMZN MOS HMC LVS WYNN
FFIV GRPN WPRT CRUS MU JDSU CIEN FNSR
C SBUX STLD MS MLNX Z GS AGU IBN FCX
COH TIF CF YUM GMCR LRCX....
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, as you saw today that market lost majority of gains despite Central Bank of Japan & ECB pushing easy money. TAPE is @ critical juncture & is looking extremely vulnerable. IF we are UP for any reason it gives an opportunity to book profit.
BLOG does NOT give buy or sell.
Saleem
Indices UP .70% to .87%.....NICE !!!!!
ECB & Japan gave a boost to market by saying they are committed to continued QE.
S&P 500 @ 1660.84, high 1674.26 low 1652.63
Internals are positive by 2 to 1
Oil UP $1.19
Gold Down $5.20
Canadian $ Down 56 tick @ 96.19, Central bank to issue last policy statement Wed @ 9 AM under current Governor Mark Carney who is new Chief of England Central Bank as of July 1, 2013.
VIX Down .57% @ 13.91...Does not look good for equities...
Portfolio EBAY KOG BBRY & AUY
Most stocks are UP
@ 1.31 following are red :
BBRY LNKD YHOO AAPL LEN FB JCP TZA
GG V GMCR BRCM SNDK FSLR EGO
AEM ECA.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1660.84, high 1674.26 low 1652.63
Internals are positive by 2 to 1
Oil UP $1.19
Gold Down $5.20
Canadian $ Down 56 tick @ 96.19, Central bank to issue last policy statement Wed @ 9 AM under current Governor Mark Carney who is new Chief of England Central Bank as of July 1, 2013.
VIX Down .57% @ 13.91...Does not look good for equities...
Portfolio EBAY KOG BBRY & AUY
Most stocks are UP
@ 1.31 following are red :
BBRY LNKD YHOO AAPL LEN FB JCP TZA
GG V GMCR BRCM SNDK FSLR EGO
AEM ECA.....
BLOG does NOT give buy or sell.
Saleem
Sunday, May 26, 2013
Fed changing course creating market uncertainty......
Market has enjoyed tremendous support from Fed since 2009......
Since 2009 we have gone from 666 in S&P 500 to 1687....a gain of 1021 points or a gain of 153% in straight 45 months...that is a gain of 3.41% every month on average.
In this marathon streak many records were shattered & this run is among the-best in stock market history.
Would you believe it when we discuss another record.......DOW has not been down 3 days in a row this year...this has never happened either in early part of the year or later part of the year ever.
This past five months we are UP 16.8% which is 3rd highest ever in the history of stock market.
BUT.........
Fed is "changing course"........
TAPE cannot fight FED......
In my opinion.....we may have seen the highs till end of summer.
We may correct & find support & retest support rest of summer.
Fed has articulated that in next 60 days "change is coming"
Market always react "negatively" to uncertainty.......
SO...the question is how low we go in summer ?
Most trader love to see support @ 1600 area in S&P 500.....but @ 1602.82 it is only 5% from absolute high of 1687.18.......not enough considering the run we had.
An extreme reaction to Fed may take us down 7%...which is @ 1569.08.....i do not believe this is probable...
What is probable is a 6% correction which takes us down to 1585.95......this is not so bad as it is another 3.86% or 63.65 points from Friday.....
NOW...this does not mean that one should sell everything.
Many sectors are expected to be strong in summer like Oil, Gold to name a few......
Technology generally finds bottom by the end of summer.
Once summer is over & market has digested new Fed policy ....we are off to the races by end of Q3......
This market is expected to be like 1995........where in second half it went UP another 15.3%.......IF we take 15.3% from recent high of 1687.18....we have another 258 points to go ...we may be looking @ S&P 500 around 1950 area.......
Market correction bottoms out in many stages of support & breaking support.
It is time to take "time out" in euphoria......
Strategic buying in summer is the way to go, if it is "too low" one must buy....
Relaxing in summer is good for your financial health.
BLOG does NOT give buy or sell.
Saleem
Since 2009 we have gone from 666 in S&P 500 to 1687....a gain of 1021 points or a gain of 153% in straight 45 months...that is a gain of 3.41% every month on average.
In this marathon streak many records were shattered & this run is among the-best in stock market history.
Would you believe it when we discuss another record.......DOW has not been down 3 days in a row this year...this has never happened either in early part of the year or later part of the year ever.
This past five months we are UP 16.8% which is 3rd highest ever in the history of stock market.
BUT.........
Fed is "changing course"........
TAPE cannot fight FED......
In my opinion.....we may have seen the highs till end of summer.
We may correct & find support & retest support rest of summer.
Fed has articulated that in next 60 days "change is coming"
Market always react "negatively" to uncertainty.......
SO...the question is how low we go in summer ?
Most trader love to see support @ 1600 area in S&P 500.....but @ 1602.82 it is only 5% from absolute high of 1687.18.......not enough considering the run we had.
An extreme reaction to Fed may take us down 7%...which is @ 1569.08.....i do not believe this is probable...
What is probable is a 6% correction which takes us down to 1585.95......this is not so bad as it is another 3.86% or 63.65 points from Friday.....
NOW...this does not mean that one should sell everything.
Many sectors are expected to be strong in summer like Oil, Gold to name a few......
Technology generally finds bottom by the end of summer.
Once summer is over & market has digested new Fed policy ....we are off to the races by end of Q3......
This market is expected to be like 1995........where in second half it went UP another 15.3%.......IF we take 15.3% from recent high of 1687.18....we have another 258 points to go ...we may be looking @ S&P 500 around 1950 area.......
Market correction bottoms out in many stages of support & breaking support.
It is time to take "time out" in euphoria......
Strategic buying in summer is the way to go, if it is "too low" one must buy....
Relaxing in summer is good for your financial health.
BLOG does NOT give buy or sell.
Saleem
Friday, May 24, 2013
Mixed close....
TAPE tested the low of yesterday & looked north.
S&P 500 @ 1649.60, low today 1636.88 came close to 1636.42 low of yesterday.
RSI @ 61.61
CMF @ 0.365
Internals were :
Down volume led by 1.46 to 1 in NYSE & .95 to 1 in Nasdaq
Declining stocks led by 1.23 to 1 in NYSE & .93 to 1 in Nasdaq
Net new 52 wk highs were leading by 34 in NYSE & 56 in Nasdaq
VIX Down .57% @ 13.99
Oil @ $94.15
Gold @ $1386.60
Canadian $ Down 24 tick @ 96.83
Portfolio EBAY KOG BBRY AUY
Weighting :
AUY 34.92%
BBRY 30.97%
EBAY 25.49%
KOG 8.62%
Exposure 102%
Stocks which closed green included EBAY BBRY
YHOO PANW KORS AAPL EXPE M BIDU
MA V FNSR SNDK QCOM CSIQ SINA
SPWR MS GS IBN.....
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Enjoy your long weekend !!!!!
Saleem
S&P 500 @ 1649.60, low today 1636.88 came close to 1636.42 low of yesterday.
RSI @ 61.61
CMF @ 0.365
Internals were :
Down volume led by 1.46 to 1 in NYSE & .95 to 1 in Nasdaq
Declining stocks led by 1.23 to 1 in NYSE & .93 to 1 in Nasdaq
Net new 52 wk highs were leading by 34 in NYSE & 56 in Nasdaq
VIX Down .57% @ 13.99
Oil @ $94.15
Gold @ $1386.60
Canadian $ Down 24 tick @ 96.83
Portfolio EBAY KOG BBRY AUY
Weighting :
AUY 34.92%
BBRY 30.97%
EBAY 25.49%
KOG 8.62%
Exposure 102%
Stocks which closed green included EBAY BBRY
YHOO PANW KORS AAPL EXPE M BIDU
MA V FNSR SNDK QCOM CSIQ SINA
SPWR MS GS IBN.....
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Enjoy your long weekend !!!!!
Saleem
Thursday, May 23, 2013
Indices closed down .08% to .29%......
Indices staged a major comeback & closed slightly down.
S&P 500 @ 1650.51, low 1635.53
RSI @ 62.10
CMF @ 0.331
Internals were :
Down volume led by 1.39 to 1 in NYSE & 1.10 to 1 in Nasdaq
Declining stocks led by 1.42 to 1 in NYSE & .92 to 1 in Nasdaq
Net new 52 wk highs were leading by 13 in NYSE & 20 in Nasdaq
VIX UP 1.81% @ 14.07
Oil @ $94.25
Gold @ $1392.80
AH ER :
GPS Down 2.22%
CRM Down 5.91%
SHLD Down 12.33%
P UP 8.16%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE displayed tremendous strength by erasing most of the losses. Sideline money came in to support this market. This market is displaying all the attributes of an unusually strong bull market. Patience is the key to optimize gains. IF we close green on Friday then we have a confirmation that low is in.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1650.51, low 1635.53
RSI @ 62.10
CMF @ 0.331
Internals were :
Down volume led by 1.39 to 1 in NYSE & 1.10 to 1 in Nasdaq
Declining stocks led by 1.42 to 1 in NYSE & .92 to 1 in Nasdaq
Net new 52 wk highs were leading by 13 in NYSE & 20 in Nasdaq
VIX UP 1.81% @ 14.07
Oil @ $94.25
Gold @ $1392.80
AH ER :
GPS Down 2.22%
CRM Down 5.91%
SHLD Down 12.33%
P UP 8.16%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE displayed tremendous strength by erasing most of the losses. Sideline money came in to support this market. This market is displaying all the attributes of an unusually strong bull market. Patience is the key to optimize gains. IF we close green on Friday then we have a confirmation that low is in.
BLOG does NOT give buy or sell.
Saleem
Indices down .30% to .59%......
Indices are trying to fight back weak Chinese PMI & looking instead to resale housing data in US which came better than expected.
S&P 500 @ 1645.65, low today so far 1635.53
RSI 59.71
Internals are negative
Oil Down $1.07
Gold UP $24.60
Canadian $ UP 52 tick @ 96.94
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 1.51 following are green :
BBRY AUY PANW LULU MOS EXPE
LEN TZA JCP DATA M GG EGO SLW AEM
MU CSCO CSIQ MON NVDA ECA Z.............
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1645.65, low today so far 1635.53
RSI 59.71
Internals are negative
Oil Down $1.07
Gold UP $24.60
Canadian $ UP 52 tick @ 96.94
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 1.51 following are green :
BBRY AUY PANW LULU MOS EXPE
LEN TZA JCP DATA M GG EGO SLW AEM
MU CSCO CSIQ MON NVDA ECA Z.............
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 22, 2013
Indices closed down .52% to 1.11%......
Indices did a reversal & closed down across the board in high volume.
S&P 500 @ 1655.35, high 1687.18, low 1648.86
RSI @ 64.64
CMF @ 0.296
Internals were :
Down volume led by 3.55 to 1 in NYSE & 3.77 to 1 in Nasdaq
Declining stocks led by 3.63 to 1 in NYSE & 2.95 to 1 in Nasdaq
Net new 52 wk highs were leading by 447 in NYSE & 240 in Nasdaq
VIX UP 3.37% @ 13.82
Oil @ $94.28
Gold @ $1367.40
AH ER :
HPQ UP 13.85%
WDAY UP 3.42%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE made a reversal after Fed minutes came out. S&P 500 had a reversal of 2.27% from high to low. Chinese Flash PMI came in @ 7 month low of 49.6% on weak internal & external demand. This may trigger more fear @ open. I expect TAPE to see its trading low by Friday. Fast correction is better than drip drip pullback.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1655.35, high 1687.18, low 1648.86
RSI @ 64.64
CMF @ 0.296
Internals were :
Down volume led by 3.55 to 1 in NYSE & 3.77 to 1 in Nasdaq
Declining stocks led by 3.63 to 1 in NYSE & 2.95 to 1 in Nasdaq
Net new 52 wk highs were leading by 447 in NYSE & 240 in Nasdaq
VIX UP 3.37% @ 13.82
Oil @ $94.28
Gold @ $1367.40
AH ER :
HPQ UP 13.85%
WDAY UP 3.42%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE made a reversal after Fed minutes came out. S&P 500 had a reversal of 2.27% from high to low. Chinese Flash PMI came in @ 7 month low of 49.6% on weak internal & external demand. This may trigger more fear @ open. I expect TAPE to see its trading low by Friday. Fast correction is better than drip drip pullback.
BLOG does NOT give buy or sell.
Saleem
Indices down .40% to 1.11%......
Indices reversed in anticipation & then actual release of Fed minutes. Fed is contemplating removal of Bond buying sooner than expected.
S&P 500 @ 1655.89, high 1687.18...RSI reached 74, currently RSI @ 65.46
Internals are negative by 2 to 1
Oil Down $1.78
Gold Down $22.00
Canadian $ Down 1.17 cent @ 96.20
VIX UP 7.33% @ 14.35
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 2.31 following are green :
TCK AAPL TZA MKTO GG EGO SLW AEM
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1655.89, high 1687.18...RSI reached 74, currently RSI @ 65.46
Internals are negative by 2 to 1
Oil Down $1.78
Gold Down $22.00
Canadian $ Down 1.17 cent @ 96.20
VIX UP 7.33% @ 14.35
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 2.31 following are green :
TCK AAPL TZA MKTO GG EGO SLW AEM
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 21, 2013
Indices closed UP .16% to .34%....NICE !!!!!
Indices closed UP after early hesitation.
S&P 500 @ 1669.16, high today 1674.93
RSI @ 72.51
CMF @ 0.331
Internals were :
UP volume led by 1.18 to 1 in NYSE & 1.52 to 1 in Nasdaq
Advancing stocks led by 1.19 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 363 in NYSE & 203 in Nasdaq
VIX UP 2.69% @ 13.37
Oil @ $96.16
Gold @ $1377.60
Stocks which closed green included KOG
YHOO RDN COH TIF KORS LULU AMZN
JCP HMC MKTO CMG M LVS LNKD MA C
WPRT ZNGA CSCO NVDA FSLR SBUX MCD
X STLD CCJ MGA MS Z GS CLF......
AH news :
NTAP UP 3.63%
SKS UP 19.39%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE continues its best bull run in a decade, its a consistent uptrending direction..so far "one direction". Fed statement should fuel this rally further. Keep booking profit & keep buying on any dip which has been intraday lately mostly after open.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1669.16, high today 1674.93
RSI @ 72.51
CMF @ 0.331
Internals were :
UP volume led by 1.18 to 1 in NYSE & 1.52 to 1 in Nasdaq
Advancing stocks led by 1.19 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 363 in NYSE & 203 in Nasdaq
VIX UP 2.69% @ 13.37
Oil @ $96.16
Gold @ $1377.60
Stocks which closed green included KOG
YHOO RDN COH TIF KORS LULU AMZN
JCP HMC MKTO CMG M LVS LNKD MA C
WPRT ZNGA CSCO NVDA FSLR SBUX MCD
X STLD CCJ MGA MS Z GS CLF......
AH news :
NTAP UP 3.63%
SKS UP 19.39%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE continues its best bull run in a decade, its a consistent uptrending direction..so far "one direction". Fed statement should fuel this rally further. Keep booking profit & keep buying on any dip which has been intraday lately mostly after open.
BLOG does NOT give buy or sell.
Saleem
Indices UP .44% to .61%....NICE !!!!
Indices are in new record territory again.
S&P 500 @ 1674.63
Internals are positive
Oil Down 41 cents
Gold Down $10.90
Canadian $ Down 23 tick @ 97.37
VIX UP .15% @ 13.04
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 2.26 following are red :
EBAY BBRY AUY PANW AAPL POT MOS
GOOG PCLN TZA CF BIDU GG SLW
EGO AEM SNDK CSIQ MON SINA
SPWR LEN MLNX WYNN AGU
IBN FCX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1674.63
Internals are positive
Oil Down 41 cents
Gold Down $10.90
Canadian $ Down 23 tick @ 97.37
VIX UP .15% @ 13.04
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 2.26 following are red :
EBAY BBRY AUY PANW AAPL POT MOS
GOOG PCLN TZA CF BIDU GG SLW
EGO AEM SNDK CSIQ MON SINA
SPWR LEN MLNX WYNN AGU
IBN FCX.....
BLOG does NOT give buy or sell.
Saleem
Monday, May 20, 2013
Stock closed down .07% to .12%.....
Indices closed slightly lower.
S&P 500 @ 1666.29
RSI @ 71.85
CMF @ 0.375
Internals were :
UP volume led by 1.45 to 1 in NYSE & .99 to 1 in Nasdaq
Advancing stocks led by 1.33 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 464 in NYSE & 257 in Nasdaq
VIX UP 4.58% @ 13.02
Stocks which were UP 2% or more included BBRY AUY
TCK AAPL PCLN JCP MKTO DATA CLF BIDU
GG SLW AEM EGO JASO CSIQ FSLR SPWR
X STLD SINA ECA....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, market internals remains strong despite today's minor negative close. I believe this is @ best consolidation to digest gains. It never hurts to book profit & buy on weakness.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1666.29
RSI @ 71.85
CMF @ 0.375
Internals were :
UP volume led by 1.45 to 1 in NYSE & .99 to 1 in Nasdaq
Advancing stocks led by 1.33 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 464 in NYSE & 257 in Nasdaq
VIX UP 4.58% @ 13.02
Stocks which were UP 2% or more included BBRY AUY
TCK AAPL PCLN JCP MKTO DATA CLF BIDU
GG SLW AEM EGO JASO CSIQ FSLR SPWR
X STLD SINA ECA....
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, market internals remains strong despite today's minor negative close. I believe this is @ best consolidation to digest gains. It never hurts to book profit & buy on weakness.
BLOG does NOT give buy or sell.
Saleem
Indices down .14% to .21%......
Indices are slightly lower on fear of bond buying being curtailed sooner than expected.
S&P 500 @ 1665.16, high 1668.04....
European markets are in record territory UP .48% to .69%
Internals are positive
Oil UP 77 cents
Gold UP $18.70 @ $1383.40, low today $1336.30 ...52 wk low $1321.50...today a jump of $50..gold is drawing extremely bearish comment from those who never dabble in this commodity... comment from this group..... that Gold going to $500?
Canadian $ UP 27 tick @ 97.52
VIX UP 4.74% @ 13.04
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 2.09 following are red :
EBAY PANW RDN TIF DNKN AMZN LULU
LEN FB EXPE LNKD MA V RVBD GMCR
LRCX JDSU CIEN FNSR SNDK CSCO
QCOM MON NVDA SBUX MS IBN
FCX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1665.16, high 1668.04....
European markets are in record territory UP .48% to .69%
Internals are positive
Oil UP 77 cents
Gold UP $18.70 @ $1383.40, low today $1336.30 ...52 wk low $1321.50...today a jump of $50..gold is drawing extremely bearish comment from those who never dabble in this commodity... comment from this group..... that Gold going to $500?
Canadian $ UP 27 tick @ 97.52
VIX UP 4.74% @ 13.04
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 2.09 following are red :
EBAY PANW RDN TIF DNKN AMZN LULU
LEN FB EXPE LNKD MA V RVBD GMCR
LRCX JDSU CIEN FNSR SNDK CSCO
QCOM MON NVDA SBUX MS IBN
FCX....
BLOG does NOT give buy or sell.
Saleem
Sunday, May 19, 2013
What is in store for market in coming week....
Market is in a very interesting mode.....
Everyone agrees that market should pull back...
Bulls @ 54% ...high for technicians comfort..
BUT...this TAPE may defy everyone for a while yet, IF everyone says that we are overbought & we keep going UP on bad news & good news.....then there can be only one interpretation...we are NOT done going UP.
Pullbacks has been for 1 day only every so often then it flies UP....
TAPE is telling us that we should stay engaged with this market UNTIL we start going down for more than a day.....
I am not even sure that IF we are down two days in a row that it will not go up for another two days & recoup everything & then some..as has been the case lately.
The only cautionary approach could be...is to book profit ...to be on the safe side.
Before highest target for S&P 500 was 1750.....now it is 2000.......sometimes oversize round numbers can be a sign of near term TOP........
Rotation is in full swing except in Gold,Silver, iron ore, copper.....who knows it may join the party also.
We may get into a full blown blowoff mode very soon & that too may last for a while as bonds / money market allocation & other money into sidelines may allocate into equities.
All in all there is more positive still than one negative of overbought & desire for pullback by so many.
Stay the course & enjoy this uptrend...it ain't over till its over.....
BLOG does NOT give buy or sell.
Saleem
Everyone agrees that market should pull back...
Bulls @ 54% ...high for technicians comfort..
BUT...this TAPE may defy everyone for a while yet, IF everyone says that we are overbought & we keep going UP on bad news & good news.....then there can be only one interpretation...we are NOT done going UP.
Pullbacks has been for 1 day only every so often then it flies UP....
TAPE is telling us that we should stay engaged with this market UNTIL we start going down for more than a day.....
I am not even sure that IF we are down two days in a row that it will not go up for another two days & recoup everything & then some..as has been the case lately.
The only cautionary approach could be...is to book profit ...to be on the safe side.
Before highest target for S&P 500 was 1750.....now it is 2000.......sometimes oversize round numbers can be a sign of near term TOP........
Rotation is in full swing except in Gold,Silver, iron ore, copper.....who knows it may join the party also.
We may get into a full blown blowoff mode very soon & that too may last for a while as bonds / money market allocation & other money into sidelines may allocate into equities.
All in all there is more positive still than one negative of overbought & desire for pullback by so many.
Stay the course & enjoy this uptrend...it ain't over till its over.....
BLOG does NOT give buy or sell.
Saleem
Friday, May 17, 2013
Indices closed UP .80% to 1.03%......NICE !!!!
TAPE got a big boost from above consensus US data.
S&P 500 closed @ absolute high of the day @ 1667.47
RSI @ 72.51
CMF @ 0.422
Internals were :
UP volume led by 4.36 to 1 in NYSE & 3.49 to 1 in Nasdaq
Advancing stocks led by 2.72 to 1 in NYSE & 3.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 407 in NYSE & 227 in Nasdaq
VIX Down 4.74% @ 12.45
Oil @ $96.02
Gold @ $1364.70
Canadian $ @ 97.31.....inflation came in well below consensus, not good for CAD down 1.06 cent
Stocks which were UP 1% or more included EBAY KOG
SU PANW RDN TIF COH KORS LULU PCLN LEN
HMC CLF AMZN LVS BIDU MA V JASO LRCX
MU BRCM CIEN C SNDK CSCO QCOM CSIQ
NVDA FSLR X STLD SINA SPWR ECA MGA
MS MLNX Z WYNN GS AGU FCX.....
Here is portfolio weighting :
AUY 33.63%
BBRY 31.30%
EBAY 26.49%
KOG 8.58%
Exposure 102%
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell
Saleem
S&P 500 closed @ absolute high of the day @ 1667.47
RSI @ 72.51
CMF @ 0.422
Internals were :
UP volume led by 4.36 to 1 in NYSE & 3.49 to 1 in Nasdaq
Advancing stocks led by 2.72 to 1 in NYSE & 3.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 407 in NYSE & 227 in Nasdaq
VIX Down 4.74% @ 12.45
Oil @ $96.02
Gold @ $1364.70
Canadian $ @ 97.31.....inflation came in well below consensus, not good for CAD down 1.06 cent
Stocks which were UP 1% or more included EBAY KOG
SU PANW RDN TIF COH KORS LULU PCLN LEN
HMC CLF AMZN LVS BIDU MA V JASO LRCX
MU BRCM CIEN C SNDK CSCO QCOM CSIQ
NVDA FSLR X STLD SINA SPWR ECA MGA
MS MLNX Z WYNN GS AGU FCX.....
Here is portfolio weighting :
AUY 33.63%
BBRY 31.30%
EBAY 26.49%
KOG 8.58%
Exposure 102%
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell
Saleem
Thursday, May 16, 2013
Indices closed down .18% to .50%.....
Indices closed down on weak economic data.
S&P 500 @ 1650.47
RSI @ 68.63
CMF @ 0.422
Internals were :
Down volume led by 2.35 to 1 in NYSE & 1.11 to 1 in Nasdaq
Declining stocks led by 1.52 to 1 in NYSE & 1.33 to 1 in Nasdaq
Net new 52 wk highs were leading by 329 in NYSE & 181 in Nasdaq
VIX UP 2.03% @ 13.07
Oil @ $95.16
Gold @ $1386.90
AH ER :
KSS UP .88% SINA UP 4.66%
DELL Down .22% JCP Down 2.34% JWN Down 3.32% ADSK Down 6.23% ARUN Down 16.58%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Friday is option expiry for week & month. I will not be surprised IF we closed down. I do not subscribe to Elliot Wave prediction of 3 year slump in markets, they have been 100% wrong on market for many years. CNBC does not care about competence or track record before booking guest on any subject. I am all for booking profit & avoiding high beta for near term.I remain exposed to the market with my picks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1650.47
RSI @ 68.63
CMF @ 0.422
Internals were :
Down volume led by 2.35 to 1 in NYSE & 1.11 to 1 in Nasdaq
Declining stocks led by 1.52 to 1 in NYSE & 1.33 to 1 in Nasdaq
Net new 52 wk highs were leading by 329 in NYSE & 181 in Nasdaq
VIX UP 2.03% @ 13.07
Oil @ $95.16
Gold @ $1386.90
AH ER :
KSS UP .88% SINA UP 4.66%
DELL Down .22% JCP Down 2.34% JWN Down 3.32% ADSK Down 6.23% ARUN Down 16.58%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Friday is option expiry for week & month. I will not be surprised IF we closed down. I do not subscribe to Elliot Wave prediction of 3 year slump in markets, they have been 100% wrong on market for many years. CNBC does not care about competence or track record before booking guest on any subject. I am all for booking profit & avoiding high beta for near term.I remain exposed to the market with my picks.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Indices are holding up despite below expectations unemployment claims & housing data.
S&P 500 @ 1657.48
RSI @ 72.54
CMF @ 0.435....highest level since January 2013...huge positive.
Internals are mixed
Oil UP 73 cents
Gold Down $10.50.....tested support today & is higher than low...a technical improvement.
Canadian $ Down 12 tick @ 98.31
VIX UP .70% @ 12.90....indicating optimism about equities
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 1.43 following are green :
KOG AUY PANW TIF LULU AAPL POT
PCLN CF FFIV RVBD CRUS GMCR
MU BRCM JDSU CIEN CSCO
QCOM EGO SLW AEM CCJ
MLNX WYNN IBN FCX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1657.48
RSI @ 72.54
CMF @ 0.435....highest level since January 2013...huge positive.
Internals are mixed
Oil UP 73 cents
Gold Down $10.50.....tested support today & is higher than low...a technical improvement.
Canadian $ Down 12 tick @ 98.31
VIX UP .70% @ 12.90....indicating optimism about equities
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 1.43 following are green :
KOG AUY PANW TIF LULU AAPL POT
PCLN CF FFIV RVBD CRUS GMCR
MU BRCM JDSU CIEN CSCO
QCOM EGO SLW AEM CCJ
MLNX WYNN IBN FCX....
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 15, 2013
Indices closed UP .26% to .51%....NICE !!!!!
Indices shrugged off many economic data from EU & US & closed higher.
S&P 500 @ 1658.78
RSI @ 73.34
CMF @ 0.369
Internals were :
UP volume led by 2.02 to 1 in NYSE & 1.81 to 1 in Nasdaq
Advancing stocks led by 1.20 to 1 in NYSE & 1.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 495 in NYSE & 265 in Nasdaq
VIX UP .31% @ 12.81
Oil @ $94.30
Gold @ $1396.20
AH ER / News :
M UP 2.49%
TSLA UP 8.44%
CSCO UP 8.77%
Stocks which closed green included EBAY
PANW YHOO DNKN POT GOOG PCLN
BAC JCP HMC M BIDU FFIV LNKD MA V
JASO SPWR GMCR ZNGA LRCX MU BRCM
C SNDKQCOM MON NVDA SBUX MCD CCJ
SINA MS MLNX Z GS IBN FCX......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, market internals were weak while indices closed higher & @ record level. TAPE had the feel of being TIRED & looks like needs regrouping & rest. It is CRITICAL to book any profit which you have.Focus should shift to laggards & avoid high beta @ this stage.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1658.78
RSI @ 73.34
CMF @ 0.369
Internals were :
UP volume led by 2.02 to 1 in NYSE & 1.81 to 1 in Nasdaq
Advancing stocks led by 1.20 to 1 in NYSE & 1.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 495 in NYSE & 265 in Nasdaq
VIX UP .31% @ 12.81
Oil @ $94.30
Gold @ $1396.20
AH ER / News :
M UP 2.49%
TSLA UP 8.44%
CSCO UP 8.77%
Stocks which closed green included EBAY
PANW YHOO DNKN POT GOOG PCLN
BAC JCP HMC M BIDU FFIV LNKD MA V
JASO SPWR GMCR ZNGA LRCX MU BRCM
C SNDKQCOM MON NVDA SBUX MCD CCJ
SINA MS MLNX Z GS IBN FCX......
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, market internals were weak while indices closed higher & @ record level. TAPE had the feel of being TIRED & looks like needs regrouping & rest. It is CRITICAL to book any profit which you have.Focus should shift to laggards & avoid high beta @ this stage.
BLOG does NOT give buy or sell.
Saleem
Indices mixed
Indices went into overdrive again & made new all time highs in Dow & S&P 500. Nasdaq made new 12 year high.
S&P 500 @ 1652.62, high 1661.49, low 1646.68....
WATCH for REVERSAL in market IF we go below low of today....
RSI @ 72.63
CMF @ 0.369
Internals are positive
Oil Down 12 cents
Gold Down $27.90
Canadian $ UP 13 tick @ 98.31
VIX UP 1.25% @ 12.93
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 2.15 following are red :
KOG BBRY AUY SU COH KORS AMZN
AAPL MOS LEN FB TZA CLF CF CMG
LVS GG AEM EGO SLW RVBD CRUS
FSLR X STLD WYNN AGU....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1652.62, high 1661.49, low 1646.68....
WATCH for REVERSAL in market IF we go below low of today....
RSI @ 72.63
CMF @ 0.369
Internals are positive
Oil Down 12 cents
Gold Down $27.90
Canadian $ UP 13 tick @ 98.31
VIX UP 1.25% @ 12.93
Portfolio EBAY KOG BBRY AUY
Most stocks are UP
@ 2.15 following are red :
KOG BBRY AUY SU COH KORS AMZN
AAPL MOS LEN FB TZA CLF CF CMG
LVS GG AEM EGO SLW RVBD CRUS
FSLR X STLD WYNN AGU....
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 14, 2013
Indices closed UP .69% to 1.01%....NICE !!!!
Indices rocketed UP again.
S&P 500 @ 1650.34
RSI @ 71.49
CMF @ 0.369
Internals were :
UP volume led by 3.62 to 1 in NYSE & 2.72 to 1 in Nasdaq
Advancing stocks led by 2.03 to 1 in NYSE & 2.37 to 1 in Nasdaq
Net new 52 wk highs were leading by 468 in NYSE & 257 in Nasdaq
VIX UP 1.75% @ 12.77
Oil @ $94.21
Gold @ $1424.50
Stocks which were UP 1% or more included EBAY KOG
PANW LULU DNKN AMZN GOOG EXPE PCLN
LEN BAC JCP YUM M LVS WYNN LNKD MA
GMCR LRCX FNSR C SNDK RDN CSIQ
NVDA SBUX SPWR MS Z GS......
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, what can you say about a market which keeps making new all time highs in S&P 500 & Dow, Nasdaq @ 12 yr high on higher volume.Many stocks in many sectors are near bear market lows. Eventually all boats are lifted. Try to be in market with a mix of strong & laggards. TAPE looks very good & expect more highs.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1650.34
RSI @ 71.49
CMF @ 0.369
Internals were :
UP volume led by 3.62 to 1 in NYSE & 2.72 to 1 in Nasdaq
Advancing stocks led by 2.03 to 1 in NYSE & 2.37 to 1 in Nasdaq
Net new 52 wk highs were leading by 468 in NYSE & 257 in Nasdaq
VIX UP 1.75% @ 12.77
Oil @ $94.21
Gold @ $1424.50
Stocks which were UP 1% or more included EBAY KOG
PANW LULU DNKN AMZN GOOG EXPE PCLN
LEN BAC JCP YUM M LVS WYNN LNKD MA
GMCR LRCX FNSR C SNDK RDN CSIQ
NVDA SBUX SPWR MS Z GS......
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, what can you say about a market which keeps making new all time highs in S&P 500 & Dow, Nasdaq @ 12 yr high on higher volume.Many stocks in many sectors are near bear market lows. Eventually all boats are lifted. Try to be in market with a mix of strong & laggards. TAPE looks very good & expect more highs.
BLOG does NOT give buy or sell.
Saleem
Indices UP .57% to .81%.....NICE !!!!
Stock market worldwide are ignoring below expectation German investor confidence. Even DAX is UP .72% while other European indices are UP from .53% to .82%.
When market ignores bad news from China Germany & US...it means only one thing, market is predicting better economic picture "down the road"
S&P 500 @ 1646.97 another all time high
RSI @ 70.54
CMF @ 0.371 highest since March 2013
Internals positive by almost 2 to 1
Oil Down 43 cents
Gold Down $8.90
Canadian $ Down 51 tick @ 98.44
VIX UP 2.31% @ 12.84
Portfolio EBAY KOG BBRY & AUY
Most stocks are UP
@ 2.16 following are red :
BBRY AUY COH TIF AAPL TCK
TZA HMC CLF BIDU GG AEM
SLW EGO JASO ZNGA MU
CIEN FSLR STLD CCJ
MGA FCX....
BLOG does NOT give buy or sell.
Saleem
When market ignores bad news from China Germany & US...it means only one thing, market is predicting better economic picture "down the road"
S&P 500 @ 1646.97 another all time high
RSI @ 70.54
CMF @ 0.371 highest since March 2013
Internals positive by almost 2 to 1
Oil Down 43 cents
Gold Down $8.90
Canadian $ Down 51 tick @ 98.44
VIX UP 2.31% @ 12.84
Portfolio EBAY KOG BBRY & AUY
Most stocks are UP
@ 2.16 following are red :
BBRY AUY COH TIF AAPL TCK
TZA HMC CLF BIDU GG AEM
SLW EGO JASO ZNGA MU
CIEN FSLR STLD CCJ
MGA FCX....
BLOG does NOT give buy or sell.
Saleem
Monday, May 13, 2013
Mixed close.......
Indices closed mixed.
Dow was the only loser by .18%
S&P 500 @ 1633.77
RSI @ 67.37
CMF @ 0.371
Internals were :
Down volume led by 1.42 to 1 in NYSE & .86 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.20 to 1 in Nasdaq
Net new 52 wk highs were leading by 268 in NYSE & 1.20 to 1 in Nasdaq
VIX Down .32% @ 12.55
Stocks which were UP 1% or more included BBRY
PANW KORS PCLN LEN JCP HMC JASO
FSLR SPWR CSIQ ZNGA SNDK
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, resiliency of this TAPE was obvious to most skeptics as they are not catching any brake.We are all set to move UP again. Despite poor Chinese data we showed green in Nasdaq & S&P 500.Selling was on extremely low volume.TAPE is awfully strong for anyone to take a contrary position.
BLOG does NOT give buy or sell.
Saleem
Dow was the only loser by .18%
S&P 500 @ 1633.77
RSI @ 67.37
CMF @ 0.371
Internals were :
Down volume led by 1.42 to 1 in NYSE & .86 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.20 to 1 in Nasdaq
Net new 52 wk highs were leading by 268 in NYSE & 1.20 to 1 in Nasdaq
VIX Down .32% @ 12.55
Stocks which were UP 1% or more included BBRY
PANW KORS PCLN LEN JCP HMC JASO
FSLR SPWR CSIQ ZNGA SNDK
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, resiliency of this TAPE was obvious to most skeptics as they are not catching any brake.We are all set to move UP again. Despite poor Chinese data we showed green in Nasdaq & S&P 500.Selling was on extremely low volume.TAPE is awfully strong for anyone to take a contrary position.
BLOG does NOT give buy or sell.
Saleem
Indices mixed........
Indices are mixed after overnight data from China was below consensus & renewed fear of slowdown in that economy.
S&P 500 @ 1632.30
Internals are mostly negative
Oil Down 57 cents
Gold Down $1.60
Canadian $ Down 17 tick @ 98.96
VIX UP 1.11% @ 12.73..indicating a positive turn for equities AGAIN....
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 2.00 following are red :
EBAY KOG AUY YHOO LULU POT EGO
MOS GOOG TCK CLF CF CMG SLW
YUM M BIDU FFIV GG V AEM
CRUS GMCR LRCX SINA
FNSR JDSU MON ECA
NVDA SBUX MLNX
X STLD AGU IBN
FCX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1632.30
Internals are mostly negative
Oil Down 57 cents
Gold Down $1.60
Canadian $ Down 17 tick @ 98.96
VIX UP 1.11% @ 12.73..indicating a positive turn for equities AGAIN....
Portfolio EBAY KOG BBRY AUY
Most stocks are down
@ 2.00 following are red :
EBAY KOG AUY YHOO LULU POT EGO
MOS GOOG TCK CLF CF CMG SLW
YUM M BIDU FFIV GG V AEM
CRUS GMCR LRCX SINA
FNSR JDSU MON ECA
NVDA SBUX MLNX
X STLD AGU IBN
FCX....
BLOG does NOT give buy or sell.
Saleem
Sunday, May 12, 2013
Most stocks are on the move......
TAPE has reached a stage where most stocks are participating in this rally.
Many are worried & expecting a full blown correction.
This is Option Expiry week which may propel this market higher not lower.
Biggest support for this market has been ongoing skepticism & buying of Vix & Puts.
Laggards present the-biggest chance of outsize gains..... example a runaway bull market in Solar stocks.
This TAPE has a unique character of low allocation participation by all participant.
Many are sitting this rally out in hope of a pullback which has not materialized.
Most traders are not fully exposed in this market for a long time.
We are @ a stage where many will jump in as correction is not in the cards yet......
I have a feeling that this market has entered a phase which is popularly known as "blowoff".....this phase may last several weeks once it takes hold.
How can one tell IF we are in blowoff stage......volume is high & stock gains are outsize...example solar stocks last few weeks.....
Have you noticed that most earnings report are being rewarded even when they miss most of the time.....Top line has been weak generally speaking...guidance has been lower than expectations but stocks being rewarded on a daily basis.
Yes much dreaded month of May can be an exception this time when TAPE may go parabolic.....
Keep a close eye on chart where "breakout" is in focus, many stocks are in breakout mode.
Buying breakout does not mean expensive stocks, many laggards are in breakout mode as per www.stockconsultant.com
SO.......you are witnessing a runaway TAPE, embrace it or you are missing an opportunity of a long long time.
A TAPE like what we have do not collapse all of a sudden, it pauses, regroup & move UP again & again.
What you have seen lately is what you are going to get as we move forward.
Good luck with your strategy & please do not buy puts or short this market..... It is going to be extremely dangerous for your financial health. Market is in rotation mode which can go on for a long time.
BLOG does NOT give buy or sell.
Saleem
Many are worried & expecting a full blown correction.
This is Option Expiry week which may propel this market higher not lower.
Biggest support for this market has been ongoing skepticism & buying of Vix & Puts.
Laggards present the-biggest chance of outsize gains..... example a runaway bull market in Solar stocks.
This TAPE has a unique character of low allocation participation by all participant.
Many are sitting this rally out in hope of a pullback which has not materialized.
Most traders are not fully exposed in this market for a long time.
We are @ a stage where many will jump in as correction is not in the cards yet......
I have a feeling that this market has entered a phase which is popularly known as "blowoff".....this phase may last several weeks once it takes hold.
How can one tell IF we are in blowoff stage......volume is high & stock gains are outsize...example solar stocks last few weeks.....
Have you noticed that most earnings report are being rewarded even when they miss most of the time.....Top line has been weak generally speaking...guidance has been lower than expectations but stocks being rewarded on a daily basis.
Yes much dreaded month of May can be an exception this time when TAPE may go parabolic.....
Keep a close eye on chart where "breakout" is in focus, many stocks are in breakout mode.
Buying breakout does not mean expensive stocks, many laggards are in breakout mode as per www.stockconsultant.com
SO.......you are witnessing a runaway TAPE, embrace it or you are missing an opportunity of a long long time.
A TAPE like what we have do not collapse all of a sudden, it pauses, regroup & move UP again & again.
What you have seen lately is what you are going to get as we move forward.
Good luck with your strategy & please do not buy puts or short this market..... It is going to be extremely dangerous for your financial health. Market is in rotation mode which can go on for a long time.
BLOG does NOT give buy or sell.
Saleem
Friday, May 10, 2013
Indices closed UP near absolute high of the day....NICE !!!!!
Indices closed @ best level of the day, this despite CNBC guru's skepticism about this rally or any news.
S&P 500 @ 1633.70
RSI @ 67.36
CMF @ 0.279
Internals were :
UP volume led by 1.94 to 1 in NYSE & 3.86 to 1 in Nasdaq
Advancing stocks led by 1.73 to 1 in NYSE & 2.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 301 in NYSE & 170 in Nasdaq
VIX Down 4.11% @ 12.59
Oil @ $96.04
Gold @ $1436.60
Canadian $ @ 98.89...Canada's job growth was less than expected 12,500 vs 15,000....all full time govt jobs.....
Portfolio weighting :
AUY 36.55%
BBRY 31.38%
EBAY 24.47%
KOG 7.60%
Exposure 102%
Stocks which closed red included AUY,
AAPL POT MOS FB TZA CF SU
LNKD GG SLW AEM Z WYNN
AGU FCX......
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1633.70
RSI @ 67.36
CMF @ 0.279
Internals were :
UP volume led by 1.94 to 1 in NYSE & 3.86 to 1 in Nasdaq
Advancing stocks led by 1.73 to 1 in NYSE & 2.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 301 in NYSE & 170 in Nasdaq
VIX Down 4.11% @ 12.59
Oil @ $96.04
Gold @ $1436.60
Canadian $ @ 98.89...Canada's job growth was less than expected 12,500 vs 15,000....all full time govt jobs.....
Portfolio weighting :
AUY 36.55%
BBRY 31.38%
EBAY 24.47%
KOG 7.60%
Exposure 102%
Stocks which closed red included AUY,
AAPL POT MOS FB TZA CF SU
LNKD GG SLW AEM Z WYNN
AGU FCX......
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, May 9, 2013
Indices closed down .12% to .37%.....
Indices closed slightly lower after indices making fresh highs.
S&P 500 @ 1626.67, high today 1635.01
RSI @ 65.54
CMF @ 0.283
Internals were :
Down volume led by 1.97 to 1 in NYSE & 1.10 to 1 in Nasdaq
Declining stocks led by 1.80 to 1 in NYSE & 1.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 366 in NYSE & 152 in Nasdaq
VIX UP 3.71% @ 13.13
Oil @ $96.39
Gold @ $1468.60
Stocks which closed green included EBAY BBRY
KORS LULU AMZN PCLN TZA CF CMG
BIDU FFIV CRUS GMCR LRCX MU
SNDK FSLR SPWR ECA MLNX
WYNN AGU FCX....
AH ER :
PCLN Down 2.73%
GPS UP 7.19% MCP UP 8.77%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, we got a slight pullback today BUT we are all set to make new highs again. This is a tough market to get a handle. CNBC guru's are calling for cooling / pullback in this market BUT its not going to be that way, slight pullback every so often is all we are given. TAPE remains FIRM & sector rotation is in play.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1626.67, high today 1635.01
RSI @ 65.54
CMF @ 0.283
Internals were :
Down volume led by 1.97 to 1 in NYSE & 1.10 to 1 in Nasdaq
Declining stocks led by 1.80 to 1 in NYSE & 1.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 366 in NYSE & 152 in Nasdaq
VIX UP 3.71% @ 13.13
Oil @ $96.39
Gold @ $1468.60
Stocks which closed green included EBAY BBRY
KORS LULU AMZN PCLN TZA CF CMG
BIDU FFIV CRUS GMCR LRCX MU
SNDK FSLR SPWR ECA MLNX
WYNN AGU FCX....
AH ER :
PCLN Down 2.73%
GPS UP 7.19% MCP UP 8.77%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, we got a slight pullback today BUT we are all set to make new highs again. This is a tough market to get a handle. CNBC guru's are calling for cooling / pullback in this market BUT its not going to be that way, slight pullback every so often is all we are given. TAPE remains FIRM & sector rotation is in play.
BLOG does NOT give buy or sell.
Saleem
Indices UP again......NICE !!!!
Indices are moving UP again after initial hesitation. Jobless claims continue to fall, good sign for economy.
S&P 500 @ 1634.45, low today 1626.91
Internals are mostly positive.
Oil Down 34 cents
Gold Down $4.60
Canadian $ Down 6 tick @ 99.66
VIX UP 1.11% @ 12.80
In my portfolio :
Bought KOG @ $8.15
Portfolio EBAY KOG BBRY AUY
Exposure 102%
Most stocks are UP
@ 2.08 following are red :
KOG AUY YHOO COH TIF DNKN AAPL
POT MOS EXPE TCK JCP HMC BAC
SU YUM MA ZNGA JDSU C MON
NVDA MCD SBUX X STLD MS
SINA .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1634.45, low today 1626.91
Internals are mostly positive.
Oil Down 34 cents
Gold Down $4.60
Canadian $ Down 6 tick @ 99.66
VIX UP 1.11% @ 12.80
In my portfolio :
Bought KOG @ $8.15
Portfolio EBAY KOG BBRY AUY
Exposure 102%
Most stocks are UP
@ 2.08 following are red :
KOG AUY YHOO COH TIF DNKN AAPL
POT MOS EXPE TCK JCP HMC BAC
SU YUM MA ZNGA JDSU C MON
NVDA MCD SBUX X STLD MS
SINA .....
BLOG does NOT give buy or sell.
Saleem
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