Indices are down on taper timetable. I still think its in January 2014.
S&P 500 @ 1803.77, low 1801.75
Internals are negative
Oil UP 95 cents
Gold UP $28.10
Canadian $ UP 23 tick @ 94.27
VIX UP 4.82% @ 14.14
In my portfolio :
Sold ARUN @ $17.25
Bought RALY @ $18.05
Portfolio JKS QIHU RALY SINA AUY
Most stocks are down
@ 2.16 following are green :
JKS QIHU RALY SINA AUY SLW BIDU
FB TSLA AMZN NFLX MS KORS
PCLN GOOG TWTR TSL LEN
YHOO CSIQ SU LNKD MA
FSLR GRPN GMCR EGO
BRCM AMCC TCK X
GG AEM JCP SPWR
WYNN GS YELP...
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
The $SPX or SPY (preferred because it doesn't distort the opening prints) charts look awful right now with major topping patterns. I'm not sure it matters given the year-end bias, but add extreme bullish sentiment, and I'm a lot more worried.
I wonder if the political deal pop turns into a nasty reversal tomorrow as taper suddenly gets more likely?
Stocktrader
Hi Stocktrader,
I do not think that Taper is a major factor in direction...it is overbought condition that will play a role......
Budget deal is a huge plus which should not be ignored......market gains are in "few big days" for which proper positioning / exposure is a must.
Chinese stocks are back in vogue which is healthy for many portfolio.
Saleem
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