Indices closed in record territory, S&P 500 & Dow @ all time high & Nasdaq @ best level since 2000.
S&P 500 @ 1675.02, high 1676.63
RSI @ 65.49
CMF @ 0.087
Internals were :
UP volume led by 7.72 to 1 in NYSE & 5.12 to 1 in Nasdaq
Advancing stocks led by 6.78 to 1 in NYSE & 2.68 to 1 in Nasdaq
Net new 52 wk highs were leading by 349 in NYSE & 376 in Nasdaq
VIX Down 1.41% @ 14.01
Oil @ $104.91
Gold @ $1279.90
Stocks which were UP 3% or more included AUY
WLT CLF TCK JCP LEN LNKD RDN CF
SU PANW BIDU FFIV GG EGO SLW
AEM RVBD ZNGA JDSU CIEN
FNSR FSLR SPWR MLNX
WYNN IBN FCX......
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, IBD has changed its rating tonight to "new uptrend". Even stockcharts were extremely bearish going into this week which i inferred in my Sunday BLOG. It is interesting to see how such big outfit got this TAPE so wrong. Everything is lined up for a move to series of new all time highs. Looks like RSI may hit 75 before any serious pullback.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Added to KOG @ 8.62 on this dip. It's crazy that a report they didn't receive interest from suitors last year is affecting their price today. The earnings and production profile are much improved.
Stocktrader
Hi Stocktrader,
That report was released yesterday on KOG.
Drop has been intense from high yesterday....
Saleem
Hey Saleem,
Yes, that morning spike yesterday on the initial read was large and then it fell straight down ever since. I've got to think we've washed out all the speculators at this point being below both the 50 and 200 DMA.
I'm more overweight commodities than I'd like to be at this point I think? I just look at my usual tech companies and I just don't about any of them. About the only thing I see safe but attractive is more KORS.
Stocktrader
Hi Stocktrader,
IF you can believe it...even my last comment disappeared in last 20 mts....
I had written that KOG volume was highest in 6 months..250% more yesterday......
KORS is good.
Saleem
Hey Saleem,
On the positive side with the disappearing comment, at least both you and I know I'm not crazy now! :)
For all those big weekend writeups I do now, I put a copy in the computer's memory (Ctrl-C) just in case that happens again.
Stocktrader
Hi Stocktrader,
After posting my comment, i go downstairs to have tea with my wife....i take my tablet while having tea.....i wanted to check IF you had commented on my comment...then noticed on tablet that there is only 3 comment instead of 4......i came up to check on my PC...& sure enough there was 4 comment posted...but still missing on tablet......
After tea session......when i refreshed my comment page on PC...4th comment was gone.......
Interesting sequence but TRUE !!!!
Saleem
Hey Saleem,
Ugh, I almost rebought RALY yesterday on that big intraday dip but it rebounded before I could make up my mind.
It just preannounced higher Q2 revenues after the bell today.
Stocktrader
Hey Saleem,
Ah...they also announced a secondary in conjunction with that updated guidance. That might make the price action more even.
I wondered this before I knew about the secondary, but now I wonder even more: how did they not see this big bump in Q2 guidance when they reported just last month? It almost seems fishy, like they are throwing out no-longer-UPOD guidance now to help the secondary.
Stocktrader
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