Indices closed UP ahead of Fed decision.
S&P 500 @ 1704.76, high 1705.52...all time high 1709.67
RSI @ 66.50
CMF @ 0.151...highest level in a month.....
Internals were :
UP volume led by 2.65 to 1 in NYSE & 3.45 to 1 in Nasdaq
Advancing stocks led by 2.05 to 1 in NYSE & 2.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 122 in NYSE & 114 in Nasdaq
VIX UP 1.04% @ 14.53
Oil @ $105.42
Gold @ $1309.40
Stocks which were UP 1% or more included
ANR AMCC CLF FNSR AUY
KOG CIEN TCK AMZN RALY GMCR SBUX C STLD EGO SLW
GG AEM MA V LNKD SINA WLT Z MU YELP YY QIHU
TIF FB RDN YHOO DNKN BBRY EBAY AAPL GRPN
CRUS BECM JDSU......
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, it is all about Fed tapering decision, looks like $15 billion cut may be the start. Market has digested $10 billion, $15 Billion may get reaction initially but after Thursday morning quarter backing everything should be acceptable. Please do not react to the reaction by the super computers....they may not be ready for $15 billion cut. Follow your own investing / trading thesis.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Picked a new speculative stock...trying ARUN @ ~17.73.
Stocktrader
Hi Stocktrader,
ARUN has been beaten up & has formed a nice base.....
Good luck !!!
Saleem
Hey Saleem,
I think AAPL looks interesting here based on increasingly positive reviews of the new phone and iOS, negative investor sentiment, eventual China Mobile agreement, and potential for aggressive buybacks/dividends.
Stocktrader
Hi Stocktrader,
Yes AAPL sentiment is very poor which is a contrary indicator.....
Even the "value girl" Karen Finerman has thrown the towel finally....
Saleem
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