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
8 comments:
Hey Saleem,
Bought CSOD @ 39.179 on this two-day dip. It also received a PT upgrade to $50 from $37 today.
Stocktrader
Hey Saleem,
Bought WLH @ 26.286 on housing strength and key geographies.
I am also looking at F today but have run out of buying power unless I sell something.
Stocktrader
Hey Saleem,
Sold FCX @ 32.65 on this pop due to question surrounding their mine closure and the expectation that the weak dollar today is short-lived.
Stocktrader
Hi Stocktrader,
Good luck with CSOD & WLH....
Dont follow WLH....
Saleem
Hey Saleem,
WLH is a very recent homebuilding IPO.
Stocktrader
Hi Stocktrader,
Thanks for WLH info.
Saleem
Hey Saleem,
Bought F @ 15.19 with those FCX proceeds.
I expect a strong Chinese flash PMI tonight.
I should have mentioned this originally but WLH operates in California, Arizona, Nevada, and Colorado, so it is extremely leveraged to a housing recovery. I like California due to the tech boom and Arizona due to baby boomers retiring. They recently emerged from a bankruptcy, but this is good because their cost and asset structure is on solid footing now.
Stocktrader
Hi Stocktrader,
Thanks for WLH profile.
I am also hopeful that Chinese Flash PMI to be better than expected.
F is a good bet as Ford Focus is a great car with Aston Martin grill.
Good luck!
Saleem
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