Indices closed mixed as traders did some buying near lows.
S&P 500 @ 1656.40, low 1646.47
RSI @ 39.63
CMF @ -0.066
Internals were :
Down volume led by .89 to 1 in NYSE & 2.22 to 1 in Nasdaq
Declining stocks led by 1.05 to 1 in NYSE & 1.33 to 1 in Nasdaq
Net new 52 wk lows were leading by 58 in NYSE & 22 in Nasdaq
VIX Down 3.64% @ 19.60
Oil @ $101.61
Gold @ $1307.20
Stocks which closed green included MU YHOO
YY GOOG LULU NTES QIHU AAPL SU
SINA CMG LVS COH KORS MA V
SNDK C X MGA TRLA Z GS
WYNN RALY......
AH ER RT Down 13.64%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, Finally there is some movement by politicians, hopefully government can open & Debt limit raised. @ its low S&P 500 was down 4.82%. We may see spirited buying in anticipation of deal in Thursday's meeting.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
I just got back from an all-morning engagement and disappointingly find my TZA sell didn't hit (had 23.93 sell order). The three-day rule has rocked me again as I would have liked to cover yesterday, and hoped for a decent price today, and couldn't get either, and now the whole endeavor ended up costing money despite initially great hedging gains. At least I didn't liquidate any of my key holdings and the portfolio is still up nicely today.
I'm looking for an opportunity to unhedge now.
Stocktrader
Hey Saleem,
Sold TZA @ 22.97. Still disgusted with how this turned out...
Stocktrader
Hi Stocktrader,
Your 3 day rule has built in risk with any leveraged bet.
Hopefully you will put that money in better ideas.
Good luck.
Saleem
Hey Saleem,
Bought BIDU @ 153.20. Even thought their upcoming travel spinoff is relatively small, it could fuel positive sentiment surrounding the stock.
Stocktrader
Hi Stocktrader,
BIDU chart looks good...like many stocks it went below 50DMA & rebounded.
Saleem
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