Indices closed UP again as buying continues.
S&P 500 @ 1652.32, high 1654.18
RSI 59.96
CMF @ -0.022
Internals were :
UP volume led by 3.86 to 1 in NYSE & 1.73 to 1 in Nasdaq
Advancing stocks led by 2.89 to 1 in NYSE & 1.53 to 1 in Nasdaq
Net new 52 wk highs were leading by 244 in NYSE & 278 in Nasdaq
VIX Down 2.91% @ 14.35
Oil @ $103.53
Gold @ $1245.90
Stocks which were UP 1% or more included EBAY KOG
WLT CLF TCK TXTR CLDX YHOO LEN NFLX
AAPL POT MOS MON AGU CF BAC C MS
GS LVS BIDU FFIV GG EGO SLW RVBD
FB Z IBN LRCX AMCC CCJ .....
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, It is all about Fed minutes, market will be surprised again in their will to curtail & then eliminate Bond buying. Chinese trade data for June is well below forecast, exports dropping 3.1% y/y. It looks like a down day for Wednesday considering everything. Hopefully we will recover after digesting all the news.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
Upgrades on CLF and WLT this morning--good start! :)
Stocktrader
Hey Saleem,
Bought CMI @ 112.94.
Stocktrader
Hi Stocktrader,
Just got up.
Good news for you in upgrades.
Good luck with CMI.
Saleem
Hey Saleem,
The situation with crude oil is surprising and worrisome. Where is all our crude going exactly? I thought we were producing more than ever...
Stocktrader
Hi Stocktrader,
All prices are set in "crude pit" in Chicago...nothing to do with supply or demand......
Sometimes they want to squeeze all shorts.
World economy including US has slowed down big time...but futures are manipulating Oil to sky high level.....?????
Welcome to speculators of futures trading........
Saleem
Hey Saleem,
I don't even mean the price necessarily. I'm talking about the biggest two week drawdown in crude supplies since 1983/84 (can't remember which) and crude runs topping 16M barrels in two weeks for first time in 8 years. How can we possibly be using so much crude right now?
Stocktrader
Hi Stocktrader,
None of the govt stats makes sense.
Are you driving more than last year?
I am NOT......
Statistical manipulation or dont know which end is up or seasonal adjustment which is accounting manipulation???
Saleem
Hey Saleem,
You're going to think this is really strange, but I actually had a dream about MDRX last night.
I was in a random sitting location with only two people, a stranger and Cramer. The guy approached Cramer with specific details about an "unrevealed" company, and I chimed in that it sounded like "Allscripts", to which the stranger admitted was true. Cramer said the company looked fine here.
I know your blog probably doesn't want to hear about my dreams, but I just thought this was really strange and a light-hearted story for midday reading.
I followed and owned MDRX heavily many years ago, like maybe 2006-2007 and pre-merger, but let it go after so many executional problems. It hasn't been on a screen of mine for years, so this was really strange...
Stocktrader
Hi Stocktrader,
This BLOG is all about stocks....in living color...dreams included.....
MDRX is breaking out today......
Saleem
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