Indices closed near high of the day on Fed taper decision.
S&P 500 @ 1810.65, high 1811.08
RSI @ 60.48
CMF @ -0.015
Internals were :
UP volume led by 5.09 to 1 in NYSE & 3.42 to 1 in Nasdaq
Advancing stocks led by 3.69 to 1 in NYSE & 2.46 to 1 in Nasdaq
Net new 52 wk highs were leading by 103 in NYSE & 111 in Nasdaq
VIX Down 14.87% @ 13.80
Oil @ $97.80
Gold @ $1235.00
Stocks which were UP 1% or more included FB RALY SINA
BIDU EXPE AMZN LUV MS PCLN KORS GOOG C
GRPN GMCR LRCX AMCC C YHOO LEN YUM
EBAY PANW SBUX MCD SU WUBA WLT
Z WYNN LVS GS......
AH ER ORCL UP 1.47%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Fed taper of $10 Billion was timed as expected, Fed knew they have to give advance notice of any taper so market does not debate endlessly. US budget is also passed by Senate which is another plus. TAPE may digest huge gains from today but i expect indices to be mostly green by close. IBD tonight is changing its market outlook to "market uptrend resumes".....
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Stocktrader,
Added 70% AUY @ $8.45....
Saleem
Hey Saleem,
Good luck with the AUY addition. Hopefully the year-end selling pressure abates soon.
Stocktrader
Hey Saleem,
I think I'm getting cautious on the market now as the economy still seems to be stuck in the mud a little and the Fed is removing accomodation (albeit slowly). I fear we might see a multiple contraction phase soon.
Sold TXTR @ 40.45
Sold RALY @ 17.284
Sold MS @ 30.925
Sold TRLA @ 31.261
I'll be selling FB and MHK tomorrow upon their S&P additions. FCX, KOG, and CLDX are still on partial or total sell restriction for me but I'm looking to sell those also when I can.
Stocktrader
Hi Stocktradetr,
Always follow your own analysis about market thus its impact on stocks....
You don't need to carry high risk as you have done well for 2013....protecting gains is a wise strategy.
Saleem
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