Indices closed down on Syrian uncertainty.
S&P 500 @ 1632.97, low 1628.05, August low 1627.47
RSI @ 37.37
CMF @ -0.150
Internals were :
Down volume led by 2.65 to 1 in NYSE & 4.92 to 1 in Nasdaq
Declining stocks led by 2.45 to 1 in NYSE & 3.25 to 1 in Nasdaq
Net new 52 wk lows were leading by 29 in NYSE & highs were leading by 6 in Nasdaq
VIX UP 1.19% @ 17.01
Oil @ $107.65
Gold @ $1396.10
Canadian $ @ 94.47
Portfolio weighting :
AUY 25.33%
ANR 16.47%
KOG 16.34%
BAC 15.15%
MU 13.83%
CLF 12.88%
Exposure 162%
Stocks which closed green included CSOD SPLK FB KORS X
TIF TSLA POT JCP JKS RDN CSIQ CMG COH MOS
WPRT BRCM ECA Z MLNX......
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, August 30, 2013
Thursday, August 29, 2013
Indices closed UP .11% to .75%.....NICE !!!!!
Indices closed UP today as GDP came in better than expected.
S&P 500 @ 1638.17, high 1646.41, low 1630.88.
RSI @ 39.11
CMF @ -0.085
Internals were :
UP volume led by 1.73 to 1 in NYSE & 3.21 to 1 in Nasdaq
Advancing stocks led by 1.83 to 1 in NYSE & 2.60 to 1 in Nasdaq
Net new 52 wk lows were leading by 4 in NYSE & highs were leading by 42 in Nasdaq
VIX UP 1.94% @ 16.81
Oil @ $108.80
Gold @ $1412.90
Stocks which were UP 2% or more included KOG MU
QIHU GRPN LEN GMCR LULU CRUS MGA
TRLA Z YELP MLNX......
AH ER :
PSUN Down 11.22%, KKD Down 13.22%
CRM UP7.81%, SPLK UP 7.83%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is trying to deal with many issues which remains unresolved, mainly Syria & Debt issue. Low volume has another week to go. Considering everything TAPE has been in a holding pattern. Pundits are becoming more bearish & have a "dont buy" recommendation. In my opinion, the best time to buy is when nobody is buying.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1638.17, high 1646.41, low 1630.88.
RSI @ 39.11
CMF @ -0.085
Internals were :
UP volume led by 1.73 to 1 in NYSE & 3.21 to 1 in Nasdaq
Advancing stocks led by 1.83 to 1 in NYSE & 2.60 to 1 in Nasdaq
Net new 52 wk lows were leading by 4 in NYSE & highs were leading by 42 in Nasdaq
VIX UP 1.94% @ 16.81
Oil @ $108.80
Gold @ $1412.90
Stocks which were UP 2% or more included KOG MU
QIHU GRPN LEN GMCR LULU CRUS MGA
TRLA Z YELP MLNX......
AH ER :
PSUN Down 11.22%, KKD Down 13.22%
CRM UP7.81%, SPLK UP 7.83%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is trying to deal with many issues which remains unresolved, mainly Syria & Debt issue. Low volume has another week to go. Considering everything TAPE has been in a holding pattern. Pundits are becoming more bearish & have a "dont buy" recommendation. In my opinion, the best time to buy is when nobody is buying.
BLOG does NOT give buy or sell.
Saleem
Indices UP .33% to .94%.....NICE !!!!
Indices are UP for second day in a row after GDP came in stronger than expected.
S&P 500 @ 1641.94, high 1646.41
Internals are positive.
Oil Down 30 cents
Gold Down $6.60
Canadian $ Down 28 tick @ 94.94
VIX Down 1.70% @ 16.77
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 2.09 following are red :
CLF TCK AGU JCP TSLA TIF CF BBRY
SU HMC MCD X CCJ AEM V ECA....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1641.94, high 1646.41
Internals are positive.
Oil Down 30 cents
Gold Down $6.60
Canadian $ Down 28 tick @ 94.94
VIX Down 1.70% @ 16.77
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 2.09 following are red :
CLF TCK AGU JCP TSLA TIF CF BBRY
SU HMC MCD X CCJ AEM V ECA....
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 28, 2013
Indices closed UP .27% to .41%....NICE !!!!
Indices staged an oversold bounce by closing green.
S&P 500 @ 1634.96, High 1641.18, low 1627.47
RSI @ 37.44
CMF @ - 0.027
Internals were :
UP volume led by 1.27 to 1 in NYSE & 2.04 to 1 in Nasdaq
Advancing stocks led by 1.26 to 1 in NYSE & 1.43 to 1 in Nasdaq
Net new 52 wk lows were leading by 42 in NYSE & highs were leading by 10
VIX Down 1.67% @ 16.49
Oil @ $110.10
Gold @ $1418.80
Stocks which were UP 1% or more included CLF KOG
GRPN CSIQ SPWR M GMCR NFLX LNKD FB
SINA NTES RDN BBRY LVS BIDU CRUS
SNDK AMCC FNSR SBUX MCD WLT
Z WYNN LVS IBN......
AH ER GES UP 18.49%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, as expected volatility has increased based on low volume & vacation time. Syria, Fed Taper & Debt limit are additional factor in the mix. I do not expect volatility to calm down until week of September 9th. I expect Thursday & Friday to be more volatile due to long weekend & imminent military operation.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1634.96, High 1641.18, low 1627.47
RSI @ 37.44
CMF @ - 0.027
Internals were :
UP volume led by 1.27 to 1 in NYSE & 2.04 to 1 in Nasdaq
Advancing stocks led by 1.26 to 1 in NYSE & 1.43 to 1 in Nasdaq
Net new 52 wk lows were leading by 42 in NYSE & highs were leading by 10
VIX Down 1.67% @ 16.49
Oil @ $110.10
Gold @ $1418.80
Stocks which were UP 1% or more included CLF KOG
GRPN CSIQ SPWR M GMCR NFLX LNKD FB
SINA NTES RDN BBRY LVS BIDU CRUS
SNDK AMCC FNSR SBUX MCD WLT
Z WYNN LVS IBN......
AH ER GES UP 18.49%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, as expected volatility has increased based on low volume & vacation time. Syria, Fed Taper & Debt limit are additional factor in the mix. I do not expect volatility to calm down until week of September 9th. I expect Thursday & Friday to be more volatile due to long weekend & imminent military operation.
BLOG does NOT give buy or sell.
Saleem
Indices UP .52% to .73%.....NICE !!!!
Indices are UP after yesterday's tumble.
S&P 500 @ 1639.88, high so far 1641.18
Internals are positive
Oil UP 90 cents
Gold Down 80 cents
Canadian $ UP 16 tick @ 95.38
VIX Down 3.46% @ 16.19
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 1.54 following are red :
QIHU AGU POT JCP LEN TSLA TIF
CF YUM NVDA GGJ MGA TRLA
MLNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1639.88, high so far 1641.18
Internals are positive
Oil UP 90 cents
Gold Down 80 cents
Canadian $ UP 16 tick @ 95.38
VIX Down 3.46% @ 16.19
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 1.54 following are red :
QIHU AGU POT JCP LEN TSLA TIF
CF YUM NVDA GGJ MGA TRLA
MLNX.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 27, 2013
Indices closed down 1.14% to 2.16%......
Syria jitters consumed Wall Street today & we closed near lows of the day.
S&P 500 @ 1630.48, low 1629.05
RSI @ 35.14
CMF -0.089
Internals were :
Down volume led by 10.89 to 1 in NYSE & 10.47 to 1 in Nasdaq
Declining stocks led by 4.07 to 1 in NYSE & 6.79 to 1 in Nasdaq
Net new 52 wk lows were leading by 60 in NYSE & Highs were leading by 1 in Nasdaq
VIX UP 11.87% @ 16.77
Oil @ $109.01
Gold @ $1420.20
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, In the month of August we have pulled back 80.62 points or 4.71%, this included deeply overbought conditions, taper talk, housing slowdown & Syrian jitters. Most of the time in a strong bull market a pullback like this needs to be availed or else you miss a great buying opportunity. One needs to decipher Syrian situation in a realistic manner, it is not expected to be another occupation like Iraq or Afghanistan thus any action or reaction will be short lived.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1630.48, low 1629.05
RSI @ 35.14
CMF -0.089
Internals were :
Down volume led by 10.89 to 1 in NYSE & 10.47 to 1 in Nasdaq
Declining stocks led by 4.07 to 1 in NYSE & 6.79 to 1 in Nasdaq
Net new 52 wk lows were leading by 60 in NYSE & Highs were leading by 1 in Nasdaq
VIX UP 11.87% @ 16.77
Oil @ $109.01
Gold @ $1420.20
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, In the month of August we have pulled back 80.62 points or 4.71%, this included deeply overbought conditions, taper talk, housing slowdown & Syrian jitters. Most of the time in a strong bull market a pullback like this needs to be availed or else you miss a great buying opportunity. One needs to decipher Syrian situation in a realistic manner, it is not expected to be another occupation like Iraq or Afghanistan thus any action or reaction will be short lived.
BLOG does NOT give buy or sell.
Saleem
Indices down .84% to 1.83%.....
Syria is center stage as equities are taking on the chin.
S&P 500 @ 1637.70, low 1634.27, 50 DMA @ 1659.99
Internals are negative by 4 to 1
Oil UP $2.89
Gold UP $25.90
Canadian $ unchanged @ 95.22
VIX UP 9.81% @ 16.46
In my portfolio :
Added 25% MU @ $13.45
Portfolio ANR BAC CLF KOG MU AUY
Exposure 162%
Most stocks are down
@ 201 following are green :
TSLA TZA SU YELP QIHU
BLOG does NOT give buy or sell
Saleem
S&P 500 @ 1637.70, low 1634.27, 50 DMA @ 1659.99
Internals are negative by 4 to 1
Oil UP $2.89
Gold UP $25.90
Canadian $ unchanged @ 95.22
VIX UP 9.81% @ 16.46
In my portfolio :
Added 25% MU @ $13.45
Portfolio ANR BAC CLF KOG MU AUY
Exposure 162%
Most stocks are down
@ 201 following are green :
TSLA TZA SU YELP QIHU
BLOG does NOT give buy or sell
Saleem
Monday, August 26, 2013
Indices closed down .01% to .43%.....
Indices pulled back in last hour as US getting ready to fire cruise missile on Syria.
S&P 500 @ 1656.78, low 1656.02
RSI @ 43.94
CMF @ -0.059
Internals were :
Down volume led by 1.90 to 1 in NYSE & 1.07 to 1 in Nasdaq
Declining stocks led by 1.42 to 1 in NYSE & 1.16 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & by 97 in Nasdaq
VIX UP 7.22% @ 14.99
Oil @ $105.92
Gold @ $1393.10
Stocks which closed green included ANR CLF AUY
QIHU YY GRPN AGU POT LEN GMCR FB
NFLX LNKD TSLA AAPL NTES LULU
CF BBRY EBAY BIDU GG SLW
AEM CIEN MOS MCD X
STLD MS WLT Z
WYNN MLNX.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was ignoring weak durable goods report but US military operation implication took the market by surprise, so down we went in a hurry. Any hostility should give a boost to Gold & Oil. TAPE remains constructive despite last hour pullback. 10 yr @ 2.807% & 30 yr Fixed mortgage @ 4.54% are relatively stable so far. Any weakness should be viewed as "buying opportunity".
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1656.78, low 1656.02
RSI @ 43.94
CMF @ -0.059
Internals were :
Down volume led by 1.90 to 1 in NYSE & 1.07 to 1 in Nasdaq
Declining stocks led by 1.42 to 1 in NYSE & 1.16 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & by 97 in Nasdaq
VIX UP 7.22% @ 14.99
Oil @ $105.92
Gold @ $1393.10
Stocks which closed green included ANR CLF AUY
QIHU YY GRPN AGU POT LEN GMCR FB
NFLX LNKD TSLA AAPL NTES LULU
CF BBRY EBAY BIDU GG SLW
AEM CIEN MOS MCD X
STLD MS WLT Z
WYNN MLNX.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was ignoring weak durable goods report but US military operation implication took the market by surprise, so down we went in a hurry. Any hostility should give a boost to Gold & Oil. TAPE remains constructive despite last hour pullback. 10 yr @ 2.807% & 30 yr Fixed mortgage @ 4.54% are relatively stable so far. Any weakness should be viewed as "buying opportunity".
BLOG does NOT give buy or sell.
Saleem
Indices UP .10% to .51%.....NICE !!!!
Indices are UP despite below expectation durable goods report.
S&P 500 @ 1665.10, high today 1669.51, low 1662.57
Internals are positive
Oil Down 37 cents
Gold Down $3.10
Canadian $ Down 17 tick @ 95.11
VIX UP 1.14% @ 14.14
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 1.55 following are red :
AUY JCP M TIF AMZN SINA YHOO EXPE
SU HMC YUM LVS FFIV GG MA V
RVBD LRCX SNDK BRCM
AMCC EGO AEM CCJ
Z IBN YELP MGA...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1665.10, high today 1669.51, low 1662.57
Internals are positive
Oil Down 37 cents
Gold Down $3.10
Canadian $ Down 17 tick @ 95.11
VIX UP 1.14% @ 14.14
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 1.55 following are red :
AUY JCP M TIF AMZN SINA YHOO EXPE
SU HMC YUM LVS FFIV GG MA V
RVBD LRCX SNDK BRCM
AMCC EGO AEM CCJ
Z IBN YELP MGA...
BLOG does NOT give buy or sell.
Saleem
Sunday, August 25, 2013
Another volatile week .......
This week is the last week of summer holidays, slowest volume will make another volatile week before Labor day
Next week is also a short week where vacation may be extended.....
I am not expecting much movement from where we begin in the next two weeks.
Technicians will get a chance to prove their point that market is primed for a down move.....
I do expect test & retest of key levels like 50 DMA....
Technicians are troubled by weakness in Home builders which has been the case since second week of May..technicians are ignoring the fact that S&P 500 has made new 52 wk highs since May.....
.
Sector rotation "is a fact of life" on Wall Street every year.....
YES...new strong sectors have emerged which technicians have failed to acknowledge......
Currently TAPE has only one worry......when is Fed going to start tapering......slight movement in September in that front is to be expected.......
Fed tapering will be monitored in the market place with reaction in stock market.......
IF tapering is minor then market will move beyond this issue......
As we all know from the benefit of hindsight that Wall Street always worries about many issues......
Strong TAPE fight "wall of worries"
Bull Bear ratio is reflecting fear in the market, Bears are @ the highest level in a long time @ 42.9%, bulls are @ lowest level in months @ 29%......these extremely bearish reading generally leads to a strong TAPE...
GDP is expected to be 2.2% growth in Q2...IF we meet or miss this number is good news for bulls...IF we exceed this number then expect a quick negative reaction......so be ready for Thursday @ 830 AM.......
S&P 500 may mark time to deal with low volume but exaggerated moves cannot be ruled out......
My suggestion is to increase exposure in Gold, Silver, Copper, Steels, Oil & anything material......
Life is never comfortable on Wall Street but it is our job to capitalize in new opportunity.
Good luck with new ideas !!!!!
BLOG does NOT give buy or sell.
Saleem
Next week is also a short week where vacation may be extended.....
I am not expecting much movement from where we begin in the next two weeks.
Technicians will get a chance to prove their point that market is primed for a down move.....
I do expect test & retest of key levels like 50 DMA....
Technicians are troubled by weakness in Home builders which has been the case since second week of May..technicians are ignoring the fact that S&P 500 has made new 52 wk highs since May.....
.
Sector rotation "is a fact of life" on Wall Street every year.....
YES...new strong sectors have emerged which technicians have failed to acknowledge......
Currently TAPE has only one worry......when is Fed going to start tapering......slight movement in September in that front is to be expected.......
Fed tapering will be monitored in the market place with reaction in stock market.......
IF tapering is minor then market will move beyond this issue......
As we all know from the benefit of hindsight that Wall Street always worries about many issues......
Strong TAPE fight "wall of worries"
Bull Bear ratio is reflecting fear in the market, Bears are @ the highest level in a long time @ 42.9%, bulls are @ lowest level in months @ 29%......these extremely bearish reading generally leads to a strong TAPE...
GDP is expected to be 2.2% growth in Q2...IF we meet or miss this number is good news for bulls...IF we exceed this number then expect a quick negative reaction......so be ready for Thursday @ 830 AM.......
S&P 500 may mark time to deal with low volume but exaggerated moves cannot be ruled out......
My suggestion is to increase exposure in Gold, Silver, Copper, Steels, Oil & anything material......
Life is never comfortable on Wall Street but it is our job to capitalize in new opportunity.
Good luck with new ideas !!!!!
BLOG does NOT give buy or sell.
Saleem
Friday, August 23, 2013
Indices closed UP .31% to .52%....NICE !!!!
Indices moved up above key level in Dow @ 15010.51 & S&P 500 @ 1663.50.
S&P 500 above 50 DMA @ 1659.41, high today 1664.85
RSI @ 46.72
CMF @ -0.033
Internals were :
UP volume led by 2.31 to 1 in NYSE & 2.07 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 1.17 to 1 in Nasdaq
Net new 52 wk highs were leading by 32 in NYSE & 77 in Nasdaq
VIX Down 5.28% @ 13.98
Oil @ $106.42
Gold @ $1395.80
Canadian $ @ 94.85
In my portfolio :
Added 25% ANR @ $6.31
Here is portfolio weighting :
AUY 26.43%
ANR 17.02%
KOG 16.34%
BAC 15.49%
CLF 13.67%
MU 11.05%
Exposure 159%
Stocks which were UP 2% or more included KOG AUY
CSIQ JCP GMCR NFLX LNKD TSLA FB EXPE
RVBD FNSR YY EGO SLW AEM Z.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 above 50 DMA @ 1659.41, high today 1664.85
RSI @ 46.72
CMF @ -0.033
Internals were :
UP volume led by 2.31 to 1 in NYSE & 2.07 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 1.17 to 1 in Nasdaq
Net new 52 wk highs were leading by 32 in NYSE & 77 in Nasdaq
VIX Down 5.28% @ 13.98
Oil @ $106.42
Gold @ $1395.80
Canadian $ @ 94.85
In my portfolio :
Added 25% ANR @ $6.31
Here is portfolio weighting :
AUY 26.43%
ANR 17.02%
KOG 16.34%
BAC 15.49%
CLF 13.67%
MU 11.05%
Exposure 159%
Stocks which were UP 2% or more included KOG AUY
CSIQ JCP GMCR NFLX LNKD TSLA FB EXPE
RVBD FNSR YY EGO SLW AEM Z.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 22, 2013
Indices closed UP .44% to 1.08%.....NICE !!!!!
Indices closed UP after negativity set in for almost 13 days.
S&P 500 @ 1656.96, high 1659.55
RSI @ 43.49
CMF @ -0.017
Internals were :
UP volume led by 5.71 to 1 in NYSE & 4.92 to 1 in Nasdaq
Advancing stocks led by 5.42 to 1 in NYSE & 3.79 to 1 in Nasdaq
Net new 52 wk highs were leading by 3 in NYSE & 66 in Nasdaq
VIX Down 7.40% @ 14.76
Oil @ $105.03
Gold @ $1370.80
Stocks which were UP 2% or more included ANR CLF KOG AUY
TCK GRPN SPWR TSLA SINA NTES RDN YHOO BIDU
FFIV CRUS X STLD EGO SLW WLT IBN MLNX.....
AH ER :
P Down 5.67%, MRVL UP .69%, ROST UP 1.44%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, looks like TAPE has discounted "taper" and is ready to move beyond that. World economies are showing better than expected improvement which is very good for commodities. Seasonally, focus should be on new strong sectors. This pullback of 4.11% lasted about two weeks, not bad for this strong bull market. Watch all the uber bears explain themselves as to why such a shallow pullback vs their thesis of about 20%.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1656.96, high 1659.55
RSI @ 43.49
CMF @ -0.017
Internals were :
UP volume led by 5.71 to 1 in NYSE & 4.92 to 1 in Nasdaq
Advancing stocks led by 5.42 to 1 in NYSE & 3.79 to 1 in Nasdaq
Net new 52 wk highs were leading by 3 in NYSE & 66 in Nasdaq
VIX Down 7.40% @ 14.76
Oil @ $105.03
Gold @ $1370.80
Stocks which were UP 2% or more included ANR CLF KOG AUY
TCK GRPN SPWR TSLA SINA NTES RDN YHOO BIDU
FFIV CRUS X STLD EGO SLW WLT IBN MLNX.....
AH ER :
P Down 5.67%, MRVL UP .69%, ROST UP 1.44%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, looks like TAPE has discounted "taper" and is ready to move beyond that. World economies are showing better than expected improvement which is very good for commodities. Seasonally, focus should be on new strong sectors. This pullback of 4.11% lasted about two weeks, not bad for this strong bull market. Watch all the uber bears explain themselves as to why such a shallow pullback vs their thesis of about 20%.
BLOG does NOT give buy or sell.
Saleem
Indices UP .43% to .87%.....NICE !!!!!
Indices are staging a bounce after selling off for five day's in Dow. Nasdaq is halted for technical glitch. European indices are UP .88% to 1.36%.
S&P 500 @ 1655.10, 50 DMA 1558.83
Internals are positive by better than 3 to 1
Oil UP 72 cents
Gold UP $2.20
Canadian $ Down 34 tick @ 95.08
VIX Down 6.96% @ 14.83
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 2.04 following are red :
JCP GMCR NFLX AAPL MA V CCJ
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1655.10, 50 DMA 1558.83
Internals are positive by better than 3 to 1
Oil UP 72 cents
Gold UP $2.20
Canadian $ Down 34 tick @ 95.08
VIX Down 6.96% @ 14.83
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 2.04 following are red :
JCP GMCR NFLX AAPL MA V CCJ
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 21, 2013
Indices closed down .38% to .70%......
Indices closed near low of the day in reaction to Fed statement.
S&P 500 @ 1642.80, low today 1639.43
RSI @ 35.66
CMF @ 0.009
Internals were :
Down volume led by 4.37 to 1 in NYSE & 2.89 to 1 in Nasdaq
Declining stocks led by 2.62 to 1 in NYSE & 2.08 to 1 in Nasdaq
Net new 52 wk lows were leading by 115 in NYSE & highs were leading by 18 in Nasdaq
VIX UP 6.91% @ 15.94
Oil @ $103.85
Gold @ $1370.10
AH ER :
HPQ Down 7.80%, LTD Down 2.34%, HAIN UP 7.34%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Chinese Flash PMI in August came in @ four month high @ 50.10 from 47.7 in July. This should give a lift to Commodities & may cut negativity which has crept in. @ low today S&P 500 lost 70.24 points from high or 4.11% pullback. 10 yr bond yield keeps creeping UP, currently @ 2.913. 30 yr mortgage is @ 4.56%. Hopefully most of the froth is out of this market. Staying with conviction & with a theme should pay off in trading.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1642.80, low today 1639.43
RSI @ 35.66
CMF @ 0.009
Internals were :
Down volume led by 4.37 to 1 in NYSE & 2.89 to 1 in Nasdaq
Declining stocks led by 2.62 to 1 in NYSE & 2.08 to 1 in Nasdaq
Net new 52 wk lows were leading by 115 in NYSE & highs were leading by 18 in Nasdaq
VIX UP 6.91% @ 15.94
Oil @ $103.85
Gold @ $1370.10
AH ER :
HPQ Down 7.80%, LTD Down 2.34%, HAIN UP 7.34%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Chinese Flash PMI in August came in @ four month high @ 50.10 from 47.7 in July. This should give a lift to Commodities & may cut negativity which has crept in. @ low today S&P 500 lost 70.24 points from high or 4.11% pullback. 10 yr bond yield keeps creeping UP, currently @ 2.913. 30 yr mortgage is @ 4.56%. Hopefully most of the froth is out of this market. Staying with conviction & with a theme should pay off in trading.
BLOG does NOT give buy or sell.
Saleem
Indices mixed in reaction to Fed statement.....
Fed minutes are restating what Fed has articulated since May 22nd Q&A......but TAPE was reacting as IF something new has been mentioned.
S&P 500 @ 1651.83, low 1639.43
Internals are negative by 2 to 1
Oil Down $1.15
Gold Down $3.70
Canadian $ Down 63 tick @ 95.57
VIX UP 1.48% @ 15.13
In my Portfolio :
Added 50% CLF @ $21.30
Portfolio ANR BAC CLF KOG MU AUY
Exposure 156%
Most stocks are down
@ 2.28 following are green :
BAC KOG GRPN CSIQ SPWR AAPL GOOG
GMCR FB KORS CF YHOO DNKN COH
LULU BIDU PCLN LNKD V SNDK
TZA FSLR SBUX Z YELP.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1651.83, low 1639.43
Internals are negative by 2 to 1
Oil Down $1.15
Gold Down $3.70
Canadian $ Down 63 tick @ 95.57
VIX UP 1.48% @ 15.13
In my Portfolio :
Added 50% CLF @ $21.30
Portfolio ANR BAC CLF KOG MU AUY
Exposure 156%
Most stocks are down
@ 2.28 following are green :
BAC KOG GRPN CSIQ SPWR AAPL GOOG
GMCR FB KORS CF YHOO DNKN COH
LULU BIDU PCLN LNKD V SNDK
TZA FSLR SBUX Z YELP.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 20, 2013
Indices UP .30% to .85%.......NICE !!!!!
Indices are UP from .30% to .85% despite weakness in Asia & Europe.
S&P 500 @ 1656.85, 50 DMA @ 1657.75, high so far 1658.92
Internals are positive by 3 to 1
Oil Down $1.60
Gold UP $6.20
Canadian $ Down 44 tick @ 96.12
VIX Down 4.11% @ 14.48
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 1.55 following are down :
TCK BBRY AAPL SINA SU HMC BIDU V
RVBD ZNGA TZA TRLA Z MLNX.....
About market, S&P 500 made a higher low & has rallied from there.This pullback from absolute high lasted only 3.73% which is extremely mild in the scope of this bull rally. It IS important to follow the rhythm of this TAPE. CNBC is NOT a good predictor of any weakness or strength, they firmly believe in being an expert of yesterdays event NEVER "forward thinking".
BLOG does NOT give buy or sell.
PS....i have a dinner engagement this evening. The drive alone is two hour one way in Toronto's horrendous traffic. Distance is 80 miles one way. There will be no closing post tonight.
Saleem
S&P 500 @ 1656.85, 50 DMA @ 1657.75, high so far 1658.92
Internals are positive by 3 to 1
Oil Down $1.60
Gold UP $6.20
Canadian $ Down 44 tick @ 96.12
VIX Down 4.11% @ 14.48
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are UP
@ 1.55 following are down :
TCK BBRY AAPL SINA SU HMC BIDU V
RVBD ZNGA TZA TRLA Z MLNX.....
About market, S&P 500 made a higher low & has rallied from there.This pullback from absolute high lasted only 3.73% which is extremely mild in the scope of this bull rally. It IS important to follow the rhythm of this TAPE. CNBC is NOT a good predictor of any weakness or strength, they firmly believe in being an expert of yesterdays event NEVER "forward thinking".
BLOG does NOT give buy or sell.
PS....i have a dinner engagement this evening. The drive alone is two hour one way in Toronto's horrendous traffic. Distance is 80 miles one way. There will be no closing post tonight.
Saleem
Monday, August 19, 2013
Indices closed down .38% to .59%......
Indices closed near lows of the day ahead of Fed minutes to be released on Wednesday by 2 PM.
S&P 500 @ 1646.06, low 1645.84
RSI @ 35.29...rally level
CMF @ -0.028...crossed into negative after week of July 8th, 2013.
Internals were :
Down volume led by 5.68 to 1 in NYSE & 2.44 to 1 in Nasdaq
Declining stocks led by 4.32 to 1 in NYSE & 2.32 to 1 in Nasdaq
Net new 52 wk lows were leading by 444 in NYSE & 7 in Nasdaq
VIX UP 5.08% @ 15.10
Oil @ $107.10
Gold @ $1365.70
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, Markets in Asia is tumbling fast, Indonesia, Thailand & India looks very weak. Indian Rupee hits an all time low against US$, 1 US$ gets 62.82 rupees. 10 yr Bond yield @ 2.88 which in my opinion reflects Fed's future action of Taper. RSI in S&P 500 is @ a level where we have rallied in a predictable manner. Stay involved & increase exposure on the long side, @ a minimum stay put.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1646.06, low 1645.84
RSI @ 35.29...rally level
CMF @ -0.028...crossed into negative after week of July 8th, 2013.
Internals were :
Down volume led by 5.68 to 1 in NYSE & 2.44 to 1 in Nasdaq
Declining stocks led by 4.32 to 1 in NYSE & 2.32 to 1 in Nasdaq
Net new 52 wk lows were leading by 444 in NYSE & 7 in Nasdaq
VIX UP 5.08% @ 15.10
Oil @ $107.10
Gold @ $1365.70
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, Markets in Asia is tumbling fast, Indonesia, Thailand & India looks very weak. Indian Rupee hits an all time low against US$, 1 US$ gets 62.82 rupees. 10 yr Bond yield @ 2.88 which in my opinion reflects Fed's future action of Taper. RSI in S&P 500 is @ a level where we have rallied in a predictable manner. Stay involved & increase exposure on the long side, @ a minimum stay put.
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
Indices are mixed today with Nasdaq leaders nicely UP. Dow & S&P are under pressure due to the upcoming release of Fed minutes on Wednesday.....which will state their desire to TAPER.....
S&P 500 @ 1651.27, low so far 1649.98
Internals are negative even in Nasdaq.
Oil Down 42 cents
Gold Down $5.90
Canadian $ Down 4 tick @ 96.69
VIX UP 3.76% @ 14.91
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are down
@ 2.00 following are green :
AUY GMCR NFLX TSLA AAPL GOOG LNKD
TIF AMZN FB SINA NTES CF CMG YUM
LVS BIDU GG MA V TZA MCD SLW
AEM .......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1651.27, low so far 1649.98
Internals are negative even in Nasdaq.
Oil Down 42 cents
Gold Down $5.90
Canadian $ Down 4 tick @ 96.69
VIX UP 3.76% @ 14.91
Portfolio ANR BAC CLF KOG MU AUY
Most stocks are down
@ 2.00 following are green :
AUY GMCR NFLX TSLA AAPL GOOG LNKD
TIF AMZN FB SINA NTES CF CMG YUM
LVS BIDU GG MA V TZA MCD SLW
AEM .......
BLOG does NOT give buy or sell.
Saleem
Sunday, August 18, 2013
How scared are we with this TAPE ?????
Minor pullback or correction or a crash ?
These are the thesis many technicians & traders are grappling with......
Some technicians can "clearly see 1500"
Some traders are bracing for much much lower than that ?
What are the "rationale" for these numbers ?
OH .....10 yr bond yield is @ 2.828% from 1.55% a 55.59% jump in yield......
OR... TLT has crashed from 128.50 to 102.67......a 25.83 points drop or drop of 20.10%
IF these TUMBLING numbers in last 12 months are telling us so much........WHY have we :
-Continued to make series of new HIGHS in equities?
-While bonds are tanking & Yields are rising, we have gone from 1250 to 1709.67 a jump of 459 points or a jump of 36.72% in S&P 500...
- We can draw a chart which could be exactly REVERSE in the last 12 months......TLT vs S&P 500
- While the PANIC is setting in, we have corrected only 3.34% in S&P 500 from all time highs
NUMBERS speaks LOUDER than LOGIC ?
YES...we can all PANIC & sell everything...because we "see trouble ahead"
BUT...the question IS......what trouble?
IF Higher interest rate is going to KILL housing & SLOW US economy to a CRAWL....then why would Fed going to TINKER with Bond purchase.......LOGIC should tell us that FED should be giving MORE support by buying $100 Billion in MBS.........
BUT Wall Street is not that predictable or RATIONAL...TAPE always goes to one extreme or other.....so currently we are correcting MORE than what Fed may be TAPERING to.....my guess is Fed may Taper from $85 Billion to $70 billion & may monitor the impact on economy.......
Once Fed action is OBVIOUS then 10 yr can come down to 2.5%.......
The minute this "OBVIOUS" strategy is concluded upon......watch 10 yr yield come to 2.5%.......
Then the RALLY CONTINUES to series of new HIGHS again !!!!!
Please factor ongoing improvement in Europe & China which is starting a new BOOM in base & precious metals......
We MAY have COMPLETED this minor pullback with minor uptick in interest rates......
YES housing will be stable in a 2.5% yield or 4% in 30 year mortgage......
These are WORKABLE & DESIRABLE trend......
Do NOT fight healthy MIX......
BLOG does NOT give buy or sell.
Saleem
These are the thesis many technicians & traders are grappling with......
Some technicians can "clearly see 1500"
Some traders are bracing for much much lower than that ?
What are the "rationale" for these numbers ?
OH .....10 yr bond yield is @ 2.828% from 1.55% a 55.59% jump in yield......
OR... TLT has crashed from 128.50 to 102.67......a 25.83 points drop or drop of 20.10%
IF these TUMBLING numbers in last 12 months are telling us so much........WHY have we :
-Continued to make series of new HIGHS in equities?
-While bonds are tanking & Yields are rising, we have gone from 1250 to 1709.67 a jump of 459 points or a jump of 36.72% in S&P 500...
- We can draw a chart which could be exactly REVERSE in the last 12 months......TLT vs S&P 500
- While the PANIC is setting in, we have corrected only 3.34% in S&P 500 from all time highs
NUMBERS speaks LOUDER than LOGIC ?
YES...we can all PANIC & sell everything...because we "see trouble ahead"
BUT...the question IS......what trouble?
IF Higher interest rate is going to KILL housing & SLOW US economy to a CRAWL....then why would Fed going to TINKER with Bond purchase.......LOGIC should tell us that FED should be giving MORE support by buying $100 Billion in MBS.........
BUT Wall Street is not that predictable or RATIONAL...TAPE always goes to one extreme or other.....so currently we are correcting MORE than what Fed may be TAPERING to.....my guess is Fed may Taper from $85 Billion to $70 billion & may monitor the impact on economy.......
Once Fed action is OBVIOUS then 10 yr can come down to 2.5%.......
The minute this "OBVIOUS" strategy is concluded upon......watch 10 yr yield come to 2.5%.......
Then the RALLY CONTINUES to series of new HIGHS again !!!!!
Please factor ongoing improvement in Europe & China which is starting a new BOOM in base & precious metals......
We MAY have COMPLETED this minor pullback with minor uptick in interest rates......
YES housing will be stable in a 2.5% yield or 4% in 30 year mortgage......
These are WORKABLE & DESIRABLE trend......
Do NOT fight healthy MIX......
BLOG does NOT give buy or sell.
Saleem
Friday, August 16, 2013
Indices closed down .09% to .33%......
TAPE continued its correction forcing S&P 500 to closed below 50 DMA. 10 yr yield closed @ multi year high of 2.829%.....
S&P 500 @ 1655.83, low 1652.61
RSI @ 38.74
CMF @ 0.034
Internals were :
Down volume led by 2.07 to 1 in NYSE & 1.09 to 1 in Nasdaq
Declining stocks led by 1.89 to 1 in NYSE & 1.14 to 1 in Nasdaq
Net new 52 wk lows were leading by 288 in NYSE & highs were leading by 16 in Nasdaq
VIX Down 2.44% @ 14.37
Oil @ $107.46
Gold @ $1371.00
Canadian $ @ 96.55
Stocks which closed green included BAC CSIQ SPWR LEN GMCR NFLX TSLA AAPL FB SINA NTES LRCX JDSU
FNSR RDN YHOO CMG SU PCLN RZA FSLR YELP
MGA MS TRLA Z.......
Here is portfolio weighting :
AUY 27.86%
KOG 17.62%
BAC 17.19%
ANR 14.61%
MU 12.52%
CLF 10.20%
Exposure 152%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1655.83, low 1652.61
RSI @ 38.74
CMF @ 0.034
Internals were :
Down volume led by 2.07 to 1 in NYSE & 1.09 to 1 in Nasdaq
Declining stocks led by 1.89 to 1 in NYSE & 1.14 to 1 in Nasdaq
Net new 52 wk lows were leading by 288 in NYSE & highs were leading by 16 in Nasdaq
VIX Down 2.44% @ 14.37
Oil @ $107.46
Gold @ $1371.00
Canadian $ @ 96.55
Stocks which closed green included BAC CSIQ SPWR LEN GMCR NFLX TSLA AAPL FB SINA NTES LRCX JDSU
FNSR RDN YHOO CMG SU PCLN RZA FSLR YELP
MGA MS TRLA Z.......
Here is portfolio weighting :
AUY 27.86%
KOG 17.62%
BAC 17.19%
ANR 14.61%
MU 12.52%
CLF 10.20%
Exposure 152%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 15, 2013
Indices closed down 1.43% to 1.72%.......
Indices closed sharply lower as 10 yr yield spiked to highest level in two years. Retail earnings have been weak also.
S&P 500 @ 1661.32, low 1658.59
RSI @ 40.82
CMF @ .118
Internals were :
Down volume led by 3.17 to 1 in NYSE & 8.23 to 1 in Nasdaq
Declining stocks led by 5.78 to 1 in NYSE & 4.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 375 in NYSE & 11 in Nasdaq
VIX UP 12.96% @ 14.73
Oil @ $107.33
Gold @ $1360.90
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, IBD has changed its market outlook tonight to "market in correction". My market outlook is "strong buy". There is strong support @ 50 DMA which is @ 1656.74 area, I expect this to hold by close. Materials & Precious Metals continue to "outperform in an extremely bad TAPE"...this is a "strong confirmation of bullish trend in those sectors"
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1661.32, low 1658.59
RSI @ 40.82
CMF @ .118
Internals were :
Down volume led by 3.17 to 1 in NYSE & 8.23 to 1 in Nasdaq
Declining stocks led by 5.78 to 1 in NYSE & 4.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 375 in NYSE & 11 in Nasdaq
VIX UP 12.96% @ 14.73
Oil @ $107.33
Gold @ $1360.90
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, IBD has changed its market outlook tonight to "market in correction". My market outlook is "strong buy". There is strong support @ 50 DMA which is @ 1656.74 area, I expect this to hold by close. Materials & Precious Metals continue to "outperform in an extremely bad TAPE"...this is a "strong confirmation of bullish trend in those sectors"
BLOG does NOT give buy or sell.
Saleem
Indices @ low of the day.....
Indices are making new lows & is down 1.56% to 1.86%. 10 year yield @ 2.77% is causing this weakness.
S&P 500 @ 1659.75, low so far 1658.59 50 DMA @ 1656.71 which is strong support.....
Internals are negative by minimum 4 to 1
Oil UP 46 cents
Gold UP $30.80....highest level in this rebound
Canadian $ UP 28 tick @ 96.89
VIX UP 13.88 @ 14.85
In my portfolio :
Sold F @ $16.42
Bought MU @ $14.22
Bought CLF @ $23.59
Portfolio ANR BAC CLF KOG MU AUY
Exposure 152%
Most stocks are down
@ 2.24 following are green :
ANR KOG AUY TCK SCCO AGU POT JCP
LEN TSLA AAPL NTES CF SU LVS GG
PCLN MOS EGO SLW AEM WLT
MLNX.......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1659.75, low so far 1658.59 50 DMA @ 1656.71 which is strong support.....
Internals are negative by minimum 4 to 1
Oil UP 46 cents
Gold UP $30.80....highest level in this rebound
Canadian $ UP 28 tick @ 96.89
VIX UP 13.88 @ 14.85
In my portfolio :
Sold F @ $16.42
Bought MU @ $14.22
Bought CLF @ $23.59
Portfolio ANR BAC CLF KOG MU AUY
Exposure 152%
Most stocks are down
@ 2.24 following are green :
ANR KOG AUY TCK SCCO AGU POT JCP
LEN TSLA AAPL NTES CF SU LVS GG
PCLN MOS EGO SLW AEM WLT
MLNX.......
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 14, 2013
Indices closed down .41% to .73%......
TAPE had to deal with weak inflation & M earnings report.
S&P 500 @ 1685.39, low 1684.83
RSI @ 52.24
CMF @ 0.179
Internals were :
Down volume led by 1.58 to 1 in NYSE & 1.27 to 1 in Nasdaq
Declining stocks led by 2.11 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk lows were leading by 143 in NYSE & highs were leading by 91 in Nasdaq
VIX UP 5.93% @ 13.04
Oil @ $106.85
Gold @ $1333.40
AH ER :
NTAP Down 3.47%, CSCO Down 9.62%, NTES UP 5.86%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was weak & internals were weaker. This IS normal in a strong bull market, TAPE may find support after initial negativity based on CSCO earnings. It may be smart to scoop up bargain @ open. Sector rotation has taken place, factor that in your exposure. Materials & Precious Metals is outperforming.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1685.39, low 1684.83
RSI @ 52.24
CMF @ 0.179
Internals were :
Down volume led by 1.58 to 1 in NYSE & 1.27 to 1 in Nasdaq
Declining stocks led by 2.11 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk lows were leading by 143 in NYSE & highs were leading by 91 in Nasdaq
VIX UP 5.93% @ 13.04
Oil @ $106.85
Gold @ $1333.40
AH ER :
NTAP Down 3.47%, CSCO Down 9.62%, NTES UP 5.86%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was weak & internals were weaker. This IS normal in a strong bull market, TAPE may find support after initial negativity based on CSCO earnings. It may be smart to scoop up bargain @ open. Sector rotation has taken place, factor that in your exposure. Materials & Precious Metals is outperforming.
BLOG does NOT give buy or sell.
Saleem
Indices down .23% to .64%......
Indices are weak as PPI came in below expectations, Fed would like to see more inflation as this will confirm that US economy is gaining momentum.
S&P 500 @ 1687.70, low today 1684.83
Internals are negative
Oil UP 3 cents
Gold UP $11.90
Canadian $ UP 14 tick @ 96.72
VIX UP 4.55% @ 12.87
In my portfolio:
Sold TCK @ $27.70
Added 45% F @ $16.88
Added 55% KOG @ $9.38
Portfolio ANR BAC F KOG AUY
Exposure 152%
Most stocks are down
@ 2.41 following are green :
ANR BAC AUY TCK CLF SCCO CSIQ JCP
NFLX AAPL NTES BBRY SU EBAY
YUM GG SLW EGO AEM WPRT
RVBD AMCC MON NVDA
FSLR X STLD WLT
TRLA WYNN.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1687.70, low today 1684.83
Internals are negative
Oil UP 3 cents
Gold UP $11.90
Canadian $ UP 14 tick @ 96.72
VIX UP 4.55% @ 12.87
In my portfolio:
Sold TCK @ $27.70
Added 45% F @ $16.88
Added 55% KOG @ $9.38
Portfolio ANR BAC F KOG AUY
Exposure 152%
Most stocks are down
@ 2.41 following are green :
ANR BAC AUY TCK CLF SCCO CSIQ JCP
NFLX AAPL NTES BBRY SU EBAY
YUM GG SLW EGO AEM WPRT
RVBD AMCC MON NVDA
FSLR X STLD WLT
TRLA WYNN.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 13, 2013
Indices closed UP .20% to .39%....NICE !!!!
Indices closed UP after some hesitation after open.
S&P 500 @ 1694.16, high 1696.81, low 1682.62
RSI @ 57.71
CMF @ 0.211
Internals were :
Down volume led by 1.32 to 1 in NYSE & .87 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.00 to 1 in Nasdaq
Net new 52 wk lows were leading by 58 in NYSE & highs were leading by 92 in Nasdaq
VIX Down 3.90% @ 12.31
Oil @ $106.83
Gold @ $1320.50
AH Futures Down
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE struggled with mixed internals but managed to close green. Too many bears are coming out of the closet & many bears are repeating their "flawed thesis".....This may force this bull to "climb wall of worries".....some battered bears are counting on September & praying that politicians give them a break......but for bears there is August to fear as we move higher to new highs.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1694.16, high 1696.81, low 1682.62
RSI @ 57.71
CMF @ 0.211
Internals were :
Down volume led by 1.32 to 1 in NYSE & .87 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.00 to 1 in Nasdaq
Net new 52 wk lows were leading by 58 in NYSE & highs were leading by 92 in Nasdaq
VIX Down 3.90% @ 12.31
Oil @ $106.83
Gold @ $1320.50
AH Futures Down
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE struggled with mixed internals but managed to close green. Too many bears are coming out of the closet & many bears are repeating their "flawed thesis".....This may force this bull to "climb wall of worries".....some battered bears are counting on September & praying that politicians give them a break......but for bears there is August to fear as we move higher to new highs.
BLOG does NOT give buy or sell.
Saleem
Indices UP .31% to .37%....NICE !!!!!
Indices are UP after giving up early gains.
S&P 500 @ 1695.77, low 1682.62
Internals are mostly negative??
Oil UP 64 cents
Gold Down $12.40
Canadian $ Down 39 tick @ 96.64
VIX Down 2.76% @ 12.46
In my portfolio :
Added 50% ANR @ $6.03
Portfolio ANR BAC F KOG TCK AUY
Exposure 152%
Most stocks are down
@ 2.16 following are green :
BAC KORS AGU POT NFLX LNKD TSLA
TIF MU AAPL SINA NTES LULU CMG
BBRY HMC EBAY BIDU M PCLN
MA WPRT ARUN CRUS RVBD
BRCM CIEN C QCOM MOS
MON MGA MS WYNN
GS IBN......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1695.77, low 1682.62
Internals are mostly negative??
Oil UP 64 cents
Gold Down $12.40
Canadian $ Down 39 tick @ 96.64
VIX Down 2.76% @ 12.46
In my portfolio :
Added 50% ANR @ $6.03
Portfolio ANR BAC F KOG TCK AUY
Exposure 152%
Most stocks are down
@ 2.16 following are green :
BAC KORS AGU POT NFLX LNKD TSLA
TIF MU AAPL SINA NTES LULU CMG
BBRY HMC EBAY BIDU M PCLN
MA WPRT ARUN CRUS RVBD
BRCM CIEN C QCOM MOS
MON MGA MS WYNN
GS IBN......
BLOG does NOT give buy or sell.
Saleem
Monday, August 12, 2013
Indices closed mixed......
Indices braved negative press and closed mixed.
S&P 500 @ 1689.47, low 1683.35, high 1691.49
RSI @ 55.39
CMF @ 0.170
Internals were :
UP volume led by .96 to 1 in NYSE & 1.40 to 1 in Nasdaq
Advancing stocks led by 1.18 to 1 in NYSE & 1.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 45 in NYSE & 74 in Nasdaq
VIX Down 4.47% @ 12.81
Oil @ $106.11
Gold @ $1334.20
Stocks which were UP 1% or more included TCK AUY
SCCO YHOO AGU POT JCP NFLX LNKD X
AAPL BBRY HMC FFIV GG EGO SLW
AEM CRUS AMCC MOS SINA
TRLA.....
AH News :
SINA UP 5.91%
YUM Down 3.83%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE has been basing around these level since second week of July, TAPE is trying to work out overbought conditions. Today's TAPE is extremely encouraging based on internals, VIX & Nasdaq defied "crash & deep correction pundits". I am expecting a positive TAPE until close.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1689.47, low 1683.35, high 1691.49
RSI @ 55.39
CMF @ 0.170
Internals were :
UP volume led by .96 to 1 in NYSE & 1.40 to 1 in Nasdaq
Advancing stocks led by 1.18 to 1 in NYSE & 1.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 45 in NYSE & 74 in Nasdaq
VIX Down 4.47% @ 12.81
Oil @ $106.11
Gold @ $1334.20
Stocks which were UP 1% or more included TCK AUY
SCCO YHOO AGU POT JCP NFLX LNKD X
AAPL BBRY HMC FFIV GG EGO SLW
AEM CRUS AMCC MOS SINA
TRLA.....
AH News :
SINA UP 5.91%
YUM Down 3.83%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE has been basing around these level since second week of July, TAPE is trying to work out overbought conditions. Today's TAPE is extremely encouraging based on internals, VIX & Nasdaq defied "crash & deep correction pundits". I am expecting a positive TAPE until close.
BLOG does NOT give buy or sell.
Saleem
Indices are mixed.....
Indices are trying to digest all the negative "guru talk". Nasdaq staying green despite pundits negativity.
S&P 500 @ 1686.97, low 1683.35
Internals are positive
Oil Down 20 cents
Gold UP $22.10
Canadian $ Down 17 tick @ 96.97
VIX Down 2.09% @ 13.13
Portfolio ANR BAC F KOG TCK AUY.....csiq calls 0 bid
Most stocks are UP
@ 2.00 following are red :
BAC KOG YELP CSIQ MKTG JCP TSLA TIF
AMZN GOOG FB RDN DNKN EXPE SU
CMG EBAY M BIDU COH PCLN MA
V GRPN WPRT ZNGA SNDK C
KORS MON NVDA FSLR
SBUX MCD MGA MS
WLT GS IBN....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1686.97, low 1683.35
Internals are positive
Oil Down 20 cents
Gold UP $22.10
Canadian $ Down 17 tick @ 96.97
VIX Down 2.09% @ 13.13
Portfolio ANR BAC F KOG TCK AUY.....csiq calls 0 bid
Most stocks are UP
@ 2.00 following are red :
BAC KOG YELP CSIQ MKTG JCP TSLA TIF
AMZN GOOG FB RDN DNKN EXPE SU
CMG EBAY M BIDU COH PCLN MA
V GRPN WPRT ZNGA SNDK C
KORS MON NVDA FSLR
SBUX MCD MGA MS
WLT GS IBN....
BLOG does NOT give buy or sell.
Saleem
Sunday, August 11, 2013
Pundits are panicking & predicting major pullback?????
Here we are sitting @ 1691.42 which we were roughly the same place in 2nd week of May 2013.......
BUT technicians are in "major panic mode predicting a big reversal"
I monitor many technicians analysis every week & they are all in agreement that "we are in troubled waters"
One doomster is predicting a crash like 1987.....where in one day we dropped 26%....
Another technician is predicting S&P 500 @ 1500...a 12.26% drop from 1709.67
SO...we have a scenario of 12.26% drop to 26% drop........
As history is proving that most technicians lose it @ some stage of any bull run........
We all know about past "geniuses" like Granville, Prechter...who were all good technicians but lost their magic wand many many decades ago......
Is Carter Worth facing similar fate??????
I am taking this bull market as "among the-most powerful & sustained in history of stock market"
YES there may be pause along the way like testing 50 DMA but comes back roaring to make new highs.....
ARE we @ this juncture of testing 50 DMA which is sitting @ 1652.36.......MAYBE
IF we test 50 DMA....it means we have another 39.06 points to go or another 2.31%......??????
IF we cannot stand a corrective phase of total 3.37% from absolute high of 1709.67....then we are in the wrong investment vehicle....there is money market for those........
IF my worse case scenario holds out....then it IS another buying opportunity for those who are under-invested or sitting on sidelines........
Please ignore "fear mongering headlines" & focus on what you should be selling & what you should be buying.......
I am completely out of technology.....as it has shown weakness in SOX & other areas...SOX is a leading indicator of tech health..do NOT ignore that.
Material & Precious metals are the place to be, an overweight is highly recommended.
Until October when general market MAY BE correcting.......new sectors will make serious gains......
SO..relax & look objectively @ market opportunities.......
BLOG does NOT give buy or sell.
Saleem
BUT technicians are in "major panic mode predicting a big reversal"
I monitor many technicians analysis every week & they are all in agreement that "we are in troubled waters"
One doomster is predicting a crash like 1987.....where in one day we dropped 26%....
Another technician is predicting S&P 500 @ 1500...a 12.26% drop from 1709.67
SO...we have a scenario of 12.26% drop to 26% drop........
As history is proving that most technicians lose it @ some stage of any bull run........
We all know about past "geniuses" like Granville, Prechter...who were all good technicians but lost their magic wand many many decades ago......
Is Carter Worth facing similar fate??????
I am taking this bull market as "among the-most powerful & sustained in history of stock market"
YES there may be pause along the way like testing 50 DMA but comes back roaring to make new highs.....
ARE we @ this juncture of testing 50 DMA which is sitting @ 1652.36.......MAYBE
IF we test 50 DMA....it means we have another 39.06 points to go or another 2.31%......??????
IF we cannot stand a corrective phase of total 3.37% from absolute high of 1709.67....then we are in the wrong investment vehicle....there is money market for those........
IF my worse case scenario holds out....then it IS another buying opportunity for those who are under-invested or sitting on sidelines........
Please ignore "fear mongering headlines" & focus on what you should be selling & what you should be buying.......
I am completely out of technology.....as it has shown weakness in SOX & other areas...SOX is a leading indicator of tech health..do NOT ignore that.
Material & Precious metals are the place to be, an overweight is highly recommended.
Until October when general market MAY BE correcting.......new sectors will make serious gains......
SO..relax & look objectively @ market opportunities.......
BLOG does NOT give buy or sell.
Saleem
Friday, August 9, 2013
Indices closed down .25% to .47%.......
Indices closed the week on a down note as Fed chatter about Taper dampened enthusiasm for equities.
S&P 500 @ 1691.42, low 1686.02
RSI @ 56.59
CMF @ 0.166
Internals were :
Down volume led by .96 to 1 in NYSE & 1.21 to 1 in Nasdaq
Declining stocks led by 1.05 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 29 in NYSE & 89 in Nasdaq
VIX UP 5.34% @ 13.41
Oil @ $105.97
Gold @ $1312.20
Canadian $ @ 96.97
Stocks which were UP 1% or more included ANR TCK CLF
YELP KORS MKTG TRLA SPWR GMCR LEN BBRY
PCLN ZNGA FSLR X STLD EGO SLW SINA Z
MGA WLT.......
In my portfolio :
Sold CLF MU
Bought ANR @ $5.82
Bought KOG @ $9.75
Bought TCK @ $26.45
Bought BAC @ $14.48
Here is my portfolio weighting :
AUY 25.85%
BAC 18.35%
TCK 16.85%
F 16.21%
KOG 12.32%
ANR 10.42%
Exposure 145%
Call options in KORS expired .... CSIQ is 0 bid.
CSIQ earnings were opposite of what i was expecting....i am a "contrary indicator" for earnings this year ..so far.....batting 0/5........
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1691.42, low 1686.02
RSI @ 56.59
CMF @ 0.166
Internals were :
Down volume led by .96 to 1 in NYSE & 1.21 to 1 in Nasdaq
Declining stocks led by 1.05 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 29 in NYSE & 89 in Nasdaq
VIX UP 5.34% @ 13.41
Oil @ $105.97
Gold @ $1312.20
Canadian $ @ 96.97
Stocks which were UP 1% or more included ANR TCK CLF
YELP KORS MKTG TRLA SPWR GMCR LEN BBRY
PCLN ZNGA FSLR X STLD EGO SLW SINA Z
MGA WLT.......
In my portfolio :
Sold CLF MU
Bought ANR @ $5.82
Bought KOG @ $9.75
Bought TCK @ $26.45
Bought BAC @ $14.48
Here is my portfolio weighting :
AUY 25.85%
BAC 18.35%
TCK 16.85%
F 16.21%
KOG 12.32%
ANR 10.42%
Exposure 145%
Call options in KORS expired .... CSIQ is 0 bid.
CSIQ earnings were opposite of what i was expecting....i am a "contrary indicator" for earnings this year ..so far.....batting 0/5........
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
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