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
2 comments:
Hey Saleem,
Stocks acted really well today. I think I underestimated the amount of fear in the market holding stocks back before. I regret the addition of so much TZA and I'm stuck with it until Monday. One data point that didn't get much attention was the flash PMI for the US which came in at 53.9. That's indicative of a pretty good economic backdrop still.
One other contrarian idea I'm thinking about is the apparel retailers which have gotten so crushed this earnings season. If housing and auto spending do slow down some here, we could see people decide to do a wardrobe refresh instead.
Stocktrader
Hi Stocktrader,
According to Frank Sinatra "regrets i had a few".......we all go through many regrets in this fast changing TAPE....
Realizing error is the key to being better in future decision making...
YES...many retailers are on "fire sale"...they are entering better selling environment of back to school,black friday, christmas, new year......they all have guided low already.....
Saleem
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