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
6 comments:
Hey Saleem,
I'm really starting to feel the summer slowness in some of my smaller cap stocks. I might sell some of them as I've been caught in prior summers with a drip, drip down in similar small cap stocks, especially those that don't have earnings right now to provide valuation support.
I'm also worried about the strong dollar and increasing supply affecting my commodity stocks. I might sell some of those too.
Stocktrader
Hi Stocktrader,
You know your stocks well in terms of their chart pattern. What you know is an asset in decision making.
US$ is taking a toll on my gold also AUY is down again.
Good luck with your decision.
Saleem
Hey Saleem,
Sold:
CSOD @ 38.346
KOG @ 8.313
FCX @ 31.70
MODN @ 19.152
PFPT @ 18.013
Stocktrader
Hey Saleem,
Sold SWC @ 12.283
Sold RALY @ 18.721
Sold SPLK @ 44.843
Stocktrader
Hey Saleem,
$VIX is rallying along with the market today--I wonder if that falls back or if the market falls.
Stocktrader
Hi Stocktrader,
I do not believe that VIX being UP 4%+ has any meaning as market is @ HOD....
VIX being UP is a reflection of buying & price adjustment.
I think we close near HOD.
Saleem
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