Indices closed UP near high of the day.
S&P 500 @ 1651.81, high 1654.19, low 1639.77
RSI @ 56.36
CMF -0.001
Internals were :
UP volume led by 3.57 to 1 in NYSE & 3.82 to 1 in Nasdaq
Advancing stocks led by 2.11 to 1 in NYSE & 2.35 to 1 in Nasdaq
Net new 52 wk highs were leading by 99 in NYSE & 153 in Nasdaq
VIX Down 1.13% @ 16.61
Oil @ $98.44
Gold @ $1366.90
Stocks which were UP 1% or more included BBRY
LNKD TSLA TIF AMZN POT MOS GOOG
EXPE PCLN CMG SU FFIV MA RVBD
MU AMCC JDSU CIEN FNSR C
SNDK FSLR SPWR SBUX
MCD X MGA Z CLF
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is following a script as IF Fed will not make any change in their language or take any action to disrupt this momentum. Either there has been a leak or traders are confident that Fed will stay the course. I am definitely surprised @ the strength in indices for the last two days knowing that there is always jitters before Fed statement. As Ben Bernanke is expected to leave his position in new year, this info was made public today, maybe playing a role in Fed not taking any step to disrupt?
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Added to INVN @ 14.588 in expectation that positive catalysts are still ahead for the company. It was about a half position so this filled it out.
Stocktrader
Hey Saleem,
Sold AMCC @ 9.653 to take profits after the huge runup.
Stocktrader
Hey Saleem,
Bought M @ 49.07 on a need to add a consumer discretionary play. I like their valuation and positioning.
I'm looking at LULU and ULTA too, but they each seem to have issues stopping me from buying.
Stocktrader
Hey Saleem,
I really like SODA here on the multi-day pullback partially due to the downgrade today citing "valuation" and "tougher comps" going forward, but yet still having growing business momentum, positive quarter-end effects for a big performer, and the AMA's new designation of obesity as a disease (SODA allows for "healthy" soda consumption).
I'm thinking about adding although it would really increase the weighting in the portfolio for such a speculative stock.
Stocktrader
Hi Stocktrader,
Got up late today.....
good move in booking profit....
KORS is more enticing
Saleem
Hey Saleem,
Bought KORS @ 61.87.
You were right--I like technicals and fundamentals here. Great pick! :)
Stocktrader
Hi Stocktrader,
Good luck with Michael Kors.....
Saleem
Hey Saleem,
Bought TOL @ 33.508. The high end housing shortage is extreme.
Stocktrader
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