Indices were under selling pressure due to Chinese interest rate outlook & poor earnings.
S&P 500 @ 1746.38, low 1740.50
RSI @ 64.39
CMF @ 0.318
Internals were :
Down volume led by 2.13 to 1 in NYSE & 3.35 to 1 in Nasdaq
Declining stocks led by 1.20 to 1 in NYSE & 1.54 to 1in Nasdaq
Net new 52 wk highs were leading by 133 in NYSE & 108 in Nasdaq
VIX UP .68% @ 13.42
Oil @ $96.82
Gold @ $1334.00
AH ER : TRIP Down 1.28%, AKAM Down 3.52%,
FFIV UP 2.26%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, HSBC Chinese Flash PMI came in @ 50.9% for October vs 50.2% in September, this is a major positive for bulls. Selling pressure has been orderly & not severe. We are only 13 points away from all time high in S&P 500. Brian Kelly's 33% bear exposure will not work again ?.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Stocktrader,
Sold YHOO @ $33.30...
Saleem
Hey Saleem,
Nice sell for the day. Lots of beta looking better today. I'm sure you have ideas already!
Stocktrader
Hi Stocktrader,
My selling advantage was lost due to my effort to locate news on CIEN & FNSR weakness.....
Saleem
Hey Saleem,
CLDX got a price target reiteration of $40 yesterday. It looks more interesting now than any time in recent weeks if you're looking for ideas.
***
Celldex weakness has created attractive entry point, says Oppenheimer
Oppenheimer believes that Celldex has several upcoming potential positive catalysts. The firm reiterates a $40 price target and Outperform rating on the stock. :theflyonthewall.com
***
Stocktrader
Hi Stocktrader,
Thanks for your take on CLDX...i will monitor it & see how it performs....
Saleem
Hey Saleem,
Sold YY @ 50.602 based on NQ's weakness and the possibility of accounting fears surrounding Chinese stocks again.
I felt it was a good idea to be safe on this because a turn in sentiment could easily drop the stock 10-20%.
Ideally, I'll buy it back more cheaply.
Stocktrader
Hi Stocktrader,
YY is extremely volatile based on sentiment which fluctuates weekly.
Saleem
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