Indices closed down in reaction to Fed minutes.
S&P 500 @ 1781.37, low 1777.23
RSI @ 59.48
CMF @ 0.257
Internals were :
Down volume led by 1.96 to 1 in NYSE & 1.34 to 1 in Nasdaq
Declining stocks led by 1.98 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 0 in NYSE & 51 in Nasdaq
VIX UP 0.07% @ 13.40
Oil @ $93.85
Gold @ $1258.00
Stocks which closed green included TSL
EXPE FB CSIQ JKS SPWR SU V
NFLX PCLN LULU FSLR JCP
M AGU RALY......
AH ER :
LTD Down 3.28%, GMCR UP 4.64%, WSM UP 6.18%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Traders overreacted to Fed intentions of "reducing Bond buying" IF economic conditions warrants......They MAY start reducing in January of 2014 in my estimation. You can tell by the reaction in VIX that it did not budge on the day which means hedge funds are not panicking. Try to pick up bargains IF your comfort level is high.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
Sold TXTR @ 34.35. I think there is possibility of disappointment after the earnings tonight given the valuation, so I'll try to rebuy lower tomorrow (although this almost never works for me!)
Stocktrader
Hi Stocktrader,
Earnings are a tough game...50/50 is the ratio for most.....
Good luck with your strategy.
Saleem
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