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
5 comments:
Hey Saleem,
Bought PRU @ 80.20 to increase exposure to higher yields. I'm not sure I made exactly the right move, but wanted to buy something on the morning weakness given I expect the market to head higher by close.
Stocktrader
Hi Stocktrader,
PRU chart is very similar to BAC....
Good luck !!!!
Saleem
Hi Stocktrader,
I added 50% ANR right after open @ high price of $6.03.....
Saleem
Hey Saleem,
Yes, we are both too bullish early in the morning!
In these grinding bulls, you always have morning selloffs with people overnight thinking they should sell, followed by grind higher throughout the rest of the day as sellers are gone, initial shorters have to cover, and institutions come in to select names. I always forget that dynamic and often get poor buy entries.
Stocktrader
Hi Stocktrader,
Yes..I am too bullish by nature..Taurus is known for optimism.
Saleem
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