Indices closed UP on Fed surprise of "no taper"
S&P 500 @ 1725.20, high 1729.44
RSI @ 72.13
CMF @ 0.197
Internals were :
UP volume led by 7.60 to 1 in NYSE & 3.20 to 1 in Nasdaq
Advancing stocks led by 6.01 to 1 in NYSE & 1.86 to 1 in Nasdaq
Net new 52 wk highs were leading by 285 in NYSE & 214 in Nasdaq
VIX Down 6.47% @ 13.59
Oil @ $108.07
Gold @ $1307.60
Stocks which were UP 2% or more included ANR CLF AUY
LULU YY TCK LEN NFLX AMZN AAPL SINA MU
CF CSIQ EXPE HMC PCLN GG ARUN CRUS X
EGO SLW AEM SPWR WLT TRLA YELP....
AH Futures UP
AH Asian markets UP
AH Oil & Gold UP
About market, Fed gave market "the biggest surprise of no taper". TAPE was super strong on high volume. Internals improved. Based on RSI booking of profit should be a very high priority, we are going to get "overbought" shortly. Keep RSI in focus in any switch.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hey Saleem,
After digesting the news from yesterday, I'm more comfortable with the situation. We should see slightly more inflation (of which we theoretically still need more), but that is well offset by an overall more favorable growth environment. The yield curve should also steepen helping the financials.
The only coming issue might be the debt debate, and the market will surely look to this event at some point. I think today is a day to run higher, and then maybe I'll take some profits tomorrow before the weekend.
Stocktrader
Hey Saleem,
Sold CLDX @ 27.67 to take profits.
Stocktrader
Hi Stocktrader,
Good move in booking CLDX profit.
I am glad after evaluating your comfort level remains high.
Saleem
Hey Saleem,
I put that order in pre-market before I left for 25 minutes. I probably should have held longer--it is showing great strength today!
Stocktrader
Hi Stocktrader,
CLDX had a great run with you....
Bought JKS @ $16.76....
Saleem
Hey Saleem,
Wow--nice eyes on that pullback! Good luck with JKS! :)
Stocktrader
Hi Stocktrader,
JKS announced asecondary worth $50 million on Monday......i almost bought this before buying ANR...
Hopefully JKS will price their secondary either tonight or Friday AM.
JKS is the only Chinese Solar company which made money in Q2....
Saleem
Hey Saleem,
As you probably remember, I was heavily into solars a few years ago, but have since moved on. I'm not sure I'll ever go back--it's too much of a commodity, and difficult to judge the desires of nations and their subsidies and trade wars.
That said, they've had an incredible run in the last year, and are still probably heavily shorted. It could still be an explosive trade--good luck! :)
Stocktrader
Hi Stocktrader,
YES..we were all into solar & gained some & lost more.....
I promised myself that i will not buy any solar until they are profitable...thus my entry into JKS.
Saleem
Hey Saleem,
Did a little extra selling on stocks that look tired in order to take profits:
Sold MU @ 17.11
Sold LRCX @ 49.77 (poor price action for days)
Sold X @ 21.32
Stocktrader
Hi Stocktrader,
Always good to book profit or eliminate weak ones.
Saleem
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