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
Hey Saleem,
ReplyDeleteSold BTU @ 20.301. I did some more thinking about commodities and want to stick with ones that are more supply constrained--coal is not one of those.
I do like copper and platinum/palladium.
Stocktrader
Hi Stocktrader,
ReplyDeleteRe-think is a good strategy about all position.
Good luck with your portfolio.
Saleem
Hey Saleem,
ReplyDeleteBought DATA @ 45.5. It's a bit dangerous right now given it just opened, but I know demand is extremely strong, and these guys have a fantastic market position in the big data theme.
Stocktrader
Hey Saleem,
ReplyDeleteI'm also tempted to take this opportunity to rebuy SPLK given earnings later this month, focus on the big data theme, and heavy short interest. I don't see much downside from here.
Stocktrader
Hi Stocktrader,
ReplyDeleteSPLK has been on a tear ever since you mentioned..its technicals are SUPERB$$$$$
Saleem
Hey Saleem,
ReplyDeleteI did end up buying SPLK @ 44.93. I had intended to rebuy it before earnings anyways, so I just decided the time might be now.
Stocktrader
Hey Saleem,
ReplyDeleteMKTO just opened for trading also. It's in the same business as ELOQ and currently trades cheaper on price metrics than ELOQ's buyout price from ORCL.
I might try to pick up some if I can get a good price. I will note that there is better competition here, especially with ORCL's purchase of ELOQ, although MKTO still has a leading position and very diverse customer base.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with entry on MKTO.
Saleem
Hey Saleem,
ReplyDeleteSold DE @ 87.58 after a downgrade to sell today by Goldman Sachs. I realize that I don't know enough about this company and cycle to hold an informed investment thesis.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with next buy.
DE....i do not follow @ all.
Saleem
Hey Saleem,
ReplyDeleteUgh...I should have just paid the opening price on MKTO.
This market is humbling in a lot of ways right now. I sure feel like a fool in many of my decisions to buy, not buy, or sell.
Stocktrader
Hi Stocktrader,
ReplyDeleteMajority of your decision making is based on sound logic which comes with only experience.
Once in a while ..we all get stumped.
Saleem
Hey Saleem,
ReplyDeleteAn hour+ standing order I had for MKTO just got filled on a quick spike down: 21.25. I guess I'm in now...
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with MKTO......
Saleem