Indices were mixed @ close with Nasdaq being UP.
S&P 500 @ 1697.42, low 1694.90
RSI @ 56.60
CMF @ 0.042
Internals were :
UP volume led by .92 to 1 in NYSE & 1.30 to 1 in Nasdaq
Advancing stocks led by 1.21 to 1 in NYSE & 1.20 to 1 in Nasdaq
Net new 52 wk highs were leading by 111 in NYSE & 143 in Nasdaq
VIX Down 1.61% @ 14.08
Oil @ $103.13
Gold @ $1316.30
Stocks which were UP 1% or more included AMCC JKS
LEN NFLX LNKD FB RDN YHOO CSIQ LVS
CRUS LRCX SNDK CIEN RALY SBUX
X SPWR RELA YELP MLNX KNDI....
AH Futures UP
AH Asian markets UP
AH Oil & Gold UP
About market, S&P 500 @ low today was down 2.02% in four trading days in a row. Internals were extremely healthy even though we closed near low of the day. This selling looks very tired & a strong snap back is overdue. It is extremely important to take advantage of any pullback IF your exposure is low.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Sold SODA @ 64.33. There's a report that Starbucks filed a patent for a beverage production machine called Fizzio. I'm uncomfortable with those implications so I'm selling for now.
SODA is very hard to figure out.
Stocktrader
Hi Stocktrader,
Some stocks like SODA are tough to trade or figure out their fundamental.....
Saleem
Hey Saleem,
Well...I totally messed that up.
Stocktrader
Hi Stocktrader,
IF your opinion has changed about SODA...then you can buy it back....
Saleem
Hey Saleem,
I heard something on Fast Money that I hadn't considered before. In regards to YHOO, if the Alibaba IPO comes at $60B-$100B (which I expected), it could certainly pop a lot on the first day, putting its valuation at $130-$140B (not unreasonable considering it's the Amazon and Ebay of China?). That would make almost the entirety of YHOO's valuation made up of the Alibaba valuation giving you the core business for free, and it's already very profitable.
Something to think about...I wonder if it's a bad idea to add here? The chart still looks pretty fresh.
Stocktrader
Hi Stocktrader,
YHOO based on your "gut feel" is not expensive or extended....just compare the chart of FB with YHOO......
Saleem
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