Indices closed mixed as EU growth target were lowered putting pressure @ open.
S&P 500 @ 1762.97, low 1755.76
RSI @ 63.16
CMF @ 0.414
Internals were :
Down volume led by 2.48 to 1 in NYSE & 1.05 to 1 in Nasdaq
Declining stocks led by 2.13 to 1 in NYSE & 1.41 to 1 in Nasdaq
Net new 52 wk highs were leading by 97 in NYSE & 71 in Nasdaq
VIX UP 2.63% @ 13.27
Oil @ $93.37
Gold @ $1308.10
AH ER :
ANF Down 7.33%, TSLA Down 12.34%
OPEN UP 3.38%, Z UP 5.10%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, Internals were weak today even after improving substantially from lows. Due to TWTR IPO coming on Thursday, there is some selling which is affecting few leaders. Pay attention to weakness in your stocks as some are topping out. Chinese leadership is talking about 7.2% GDP growth with fear of inflation as their focus. This is lower than 7.5% GDP expected by markets.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Sold YY @ 55.217.
Stocktrader
Hey Saleem,
YY's earnings quality was poor due to a special income line and questionable expense drop. Operationally, I think they face executional issues from this point in trying to expand in so many different directions.
Stocktrader
Hey Saleem,
Sold YELP @ 71.034 to take profits.
Sold BIDU @ 153.26 based on recent poor price action.
Stocktrader
Hi Stocktrader,
Good moves in YELP YY & BIDU.....
Good idea to book profit in YY & YELP.
Saleem
Hey Saleem,
Bought RL @ 178.77. This goes along with my thesis of a great retail Christmas and it seems they are building momentum based on their report and guidance this morning.
Stocktrader
Hi Stocktrader,
Good luck with RL.....retail should do well based on lower gas prices as per Dana Telsey...
Saleem
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