Indices were given a helping hand by Ben Bernanke.
S&P 500 @ 1680.91, high 1684.75, low 1677.91
RSI @ 65.43
CMF @ 0.085
Internals were :
UP volume led by 2.0 to 1 in NYSE & 1.83 to 1 in Nasdaq
Advancing stocks led by 1.93 to 1 in NYSE & 1.43 to 1 in Nasdaq
Net new 52 wk highs were leading by 139 in NYSE & 233 in Nasdaq
VIX Down 4.44% @ 13.78
Oil @ $106.48
Gold @ $1277.50
Stocks which were UP 1% or more included EBAY KOG MU
QCOM STLD LNKD SINA FB Z SODA NFLX TSLA
HMC RDN CF LULU BAC PANW BIDU GRPN
AMCC JDSU FNSR C.......
AH ER :
Negative action AXP Down 1.04%, INTC Down 3.48%, EBAY Down 5.93%
Positive action IBM UP 2.48%, XLNX UP 3.26%, SNDK UP 6.66%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, there is one technician who believes that Thursday the 18th of July IS the day to sell stocks as we seasonally enter corrective phase. I think many sectors & stocks escape negative TAPE as they are seasonally strong in summer months.
BLOG does NOT give buy or sell.
Saleem
14 comments:
Hey Saleem,
Right now I feel underexposed to this market with my ~20% cash, and regret not being more exposed to financials during this earnings season. It's so hard to buy when they are up this much, but I think the market meltup will continue here. Also, missing opportunities like YHOO weigh on me. I've done a lot of second guessing recently.
Stocktrader
Hi Stocktrader,
Many stocks have done well recently...but there are other opportunities also.
Entering strong stocks is a good idea.
Saleem
Hi Stocktrader,
Sold EBAY @ $53.55.....
Saleem
Hey Saleem,
Yeah, as I read more, it seemed like EBAY could be dead money for a while.
Argh on WLT. I was going to buy back this morning and hesitated. Now it is trickier...
Stocktrader
Hi Stocktrader,
Put entire proceed from EBAY into AMD @ $4.42....
Saleem
Hi Stocktrader,
WLT moves a lot.
Saleem
Hey Saleem,
Rebought WLT @ 13.0368. Increased economic activity could really propel this stock?
Stocktrader
Hi Stocktrader,
Good luck with WLT...
Saleem
Hey Saleem,
Bought OMED @ 28.10. As you know, I've been targeting this one all week.
Stocktrader
Hi Stocktrader,
You are a brave man with IPO....
Good luck with OMED.
Saleem
Hey Saleem,
Yes, this seems a bit of a stretch, but I'm going off the price action of the other recent biotech IPO of EPZM. I ignored that one unfortunately, but I hope to see this one in the 30s soon.
Stocktrader
Hi Stocktrader,
Sold KOG @ $9.18....
Saleem
Hey Saleem,
KOG is trading very strangely since I've owned it. I don't blame you for taking the profits.
SNDK has an interesting bounce today into the NASDAQ weakness--I think it's one to watch.
Buys today of WLT and OMED looking good--still have two positions of cash available. I'm kind of hoping RALY shows weakness on the secondary at some point.
Stocktrader
Hi Stocktrader,
KOG is a very good trade.
YES..your OMED & WLT is flying.
Saleem
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