Indices closed UP after morning weakness.
S&P 500 @ 1782.00
RSI @ 63.95
CMF @ 0.343
Internals were :
UP volume led by 4.09 to 1 in NYSE & 5.56 to 1 in Nasdaq
Advancing stocks led by 2.21 to 1 in NYSE & 2.32 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 105 in Nasdaq
VIX Down 2.34% @ 12.52
Oil @ $93.88
Gold @ $1268.40
Stocks which were UP 2% or more included JKS LNKD SINA
PCLN FB QIHU YELP GOOG LULU YHOO CSIQ
SPWR FSLR SU YUM YNDX RVBD CRUS
JBLU M X JCP CSOD WLT TRLA Z
RALY WUBA .....
AH ER :
NTES Down 7.79%, CSCO Down 10.27%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE defied all skeptics by rocketing UP to close @ the highest point in S&P 500 & Nasdaq. Internals were strong. Now we have Morgan Stanley predicting Taper will start in next two months which may be a realistic guess. IBD has changed its market outlook to "uptrend resumes". I expect another green day by close. New highs begets more new highs.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteIt hurts to see my old favorites, RALY and CSOD, do so well today without me. At least some of the stocks I bought instead also did well, CSIQ and YY notably. I'm really not sure if those old stocks are safe to rebuy or not. Today's oversold bounce had to come eventually, but will money actually continue to chase those kinds of stocks right now?
Stocktrader
Hi Stocktrader,
ReplyDeleteI think money will flow into Chinese stocks as was the case today...huge volume & big % moves.
Chinese stocks have been beaten down quite hard to their lowest level in months......thus are very attractive as add on even now.
Other stocks i am not sure...
Saleem
Hi Stocktrader,
ReplyDeleteAdded 70% SINA @ $83.78....
Saleem
Hey Saleem,
ReplyDeleteSeems like a good move!
Stocktrader