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

5 comments:

stocktrader_1996 said...

Hey Saleem,

Bought FCX @ 31.45 on continued Fed stimulus, positive outcome to merger, and bottom in copper.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Interesting about CSCO--I couldn't think of a single company in my universe I'd like to buy based on the CSCO news even though I cover a lot of tech. A lot of CSCO's great numbers is just CSCO taking share from everyone smaller.

Stocktrader

Stocks100 said...

Hi Stocktrader,

FCX is near low as Copper & Gold taking a hit...good move.

YES CSCO execution was flawless & is positioned to beat again...UPOD is a good idea .

Saleem

stocktrader_1996 said...

Hey Saleem,

Palladium is really outperforming other metals and SWC got a $15-$17 price range initiation from Wells Fargo today yet it can't seem to get any traction. I'm looking for some gains by tomorrow else I may have to think something is wrong.

Stocktrader

Stocks100 said...

Hi Stocktrader,

It is all about fund flow in metals sector....lot of selling in this sector which may bring a floor & strong bottom.

Saleem