IF you can believe this, we closed down for the day,week, month & year today, not a pretty picture.
S&P 500 @ 1782.59, high 1793.88, low 1772.26
RSI @ 39.82
CMF @ 0.062
Internals were :
Down volume led by 2.62 to 1 in NYSE & 1.72 to 1 in Nasdaq
Declining stocks led by 1.69 to 1 in NYSE & 2.26 to 1 in Nasdaq
Net new 52 wk lows were leading by 24 in NYSE & highs were leading by 28 in Nasdaq
VIX UP 6.48% @ 18.41
Oil @ $97.49
Gold @ $1239.80
Canadian $ @ 88.81
Stocks which closed green included KOG
OTEX TWTR AMCC FB LNKD NFLX AAPL
GOOG YHOO LEN CMG SU YUM GMCR ZNGA
BRCM JDSU FNSR MCD GG AEM JCP WUBA SPWR
CSOD Z WYNN YELP.....
Here is my portfolio weighting :
JKS 37.99%
MU 22.20%
AUY 21.77%
KOG 18.04%
Exposure 138%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, January 31, 2014
Thursday, January 30, 2014
Indices closed UP .70% to 1.77%....NICE !!!!
TAPE rebounded today from lowest close of 2014.
S&P 500 @ 1794.19, high 1798.77
RSI @ 42.95
CMF @ 0.046
Internals were :
UP volume led by 2.87 to 1 in NYSE & 5.09 to 1 in Nasdaq
Advancing stocks led by 3.31 to 1 in NYSE & 2.99 to 1 in Nasdaq
Net new 52 wk highs were leading by 32 in NYSE & 63 in Nasdaq
VIX Down .35% @ 17.29
Oil @ $98.23
Gold @ $1242.50
Stocks which were UP 3% or more included JKS MU
AMZN EXTR TWTR FB LNKD TSLA TSL
LVS WYNN YNDX FSLR GRPN
GMCR ZNGA JDSU PANW
SPLK CSOD YELP.....
AH ER : RVBD Down 2.93%, AMZN Down 4.59%
GOOG UP 4.11%, JDSU UP 4.56%, WYNN UP 8.32%
CMG UP 13.27%, ZNGA UP 17.98%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, in my opinion we had a technical rebound today supported by good earnings report. VIX being barely down is a cause for concern. January remains in a negative tone & may not bode well for February. I am staying with my existing portfolio as i am not sure about this TAPE. I will recommend having "high comfort level" no matter what you do.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1794.19, high 1798.77
RSI @ 42.95
CMF @ 0.046
Internals were :
UP volume led by 2.87 to 1 in NYSE & 5.09 to 1 in Nasdaq
Advancing stocks led by 3.31 to 1 in NYSE & 2.99 to 1 in Nasdaq
Net new 52 wk highs were leading by 32 in NYSE & 63 in Nasdaq
VIX Down .35% @ 17.29
Oil @ $98.23
Gold @ $1242.50
Stocks which were UP 3% or more included JKS MU
AMZN EXTR TWTR FB LNKD TSLA TSL
LVS WYNN YNDX FSLR GRPN
GMCR ZNGA JDSU PANW
SPLK CSOD YELP.....
AH ER : RVBD Down 2.93%, AMZN Down 4.59%
GOOG UP 4.11%, JDSU UP 4.56%, WYNN UP 8.32%
CMG UP 13.27%, ZNGA UP 17.98%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, in my opinion we had a technical rebound today supported by good earnings report. VIX being barely down is a cause for concern. January remains in a negative tone & may not bode well for February. I am staying with my existing portfolio as i am not sure about this TAPE. I will recommend having "high comfort level" no matter what you do.
BLOG does NOT give buy or sell.
Saleem
Indices UP .73% to 1.87%....NICE !!!!
TAPE is strong thanks to oversold conditions & earning beat.
S&P 500 @ 1794.98, high 1798.77
Internals are positive by minimum 4 to 1
Oil UP 96 cents
Gold Down $18.30
Canadian $ UP 7 tick @ 88.37
VIX Down 6.46% @ 16.23
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 1.44 following are red :
AUY AMCC BBRY LEN AAPL LRCX SBUX EGO
GG SLW AEM CCJ JCP WLT MLNX.....
AH ER AMZN & GOOG...expecting AMZN to beat...
Before open MA.......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1794.98, high 1798.77
Internals are positive by minimum 4 to 1
Oil UP 96 cents
Gold Down $18.30
Canadian $ UP 7 tick @ 88.37
VIX Down 6.46% @ 16.23
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 1.44 following are red :
AUY AMCC BBRY LEN AAPL LRCX SBUX EGO
GG SLW AEM CCJ JCP WLT MLNX.....
AH ER AMZN & GOOG...expecting AMZN to beat...
Before open MA.......
BLOG does NOT give buy or sell.
Saleem
Wednesday, January 29, 2014
Indices closed down 1.02% to 1.19%.......
TAPE was under selling pressure again & closed lower.
S&P 500 @ 1774.20, low 1770.45
RSI @ 34.76
CMF @ 0.036
Internals were :
Down volume led by 4.04 to 1 in NYSE & 3.05 to 1 in Nasdaq
Declining stocks led by 3.30 to 1 in NYSE & 3.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 64 in NYSE & highs by 7 in Nasdaq
VIX UP 9.81% @ 17.35
Oil @ $97.36
Gold @ $1262.20
AH ER : LVS Down 1.95%, SYMC Down 2.07%,
CTXS Down 4.95%
LRCX UP 2.49%, QCOM UP 3.14%, FB UP 12.09%,
FLEX UP 12.34%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, IBD tonight is changing its market outlook to "market in correction".Indices closed @ new lows & made lower lows which is a very weak technical picture.Chinese HSBC final PMI for January came in @ 49.5% lower than 49.6% Flash PMI. We have to watch how we close from hereon as weak market has weak closing. IF you see gain in any stock it is highly recommended to book it ASAP otherwise you may lose most of your gain as market weakness takes hold. Emerging markets may not take FED further taper well.Please keep in mind we are very close to being "deeply oversold"...thus a "V' bottom may form soon.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1774.20, low 1770.45
RSI @ 34.76
CMF @ 0.036
Internals were :
Down volume led by 4.04 to 1 in NYSE & 3.05 to 1 in Nasdaq
Declining stocks led by 3.30 to 1 in NYSE & 3.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 64 in NYSE & highs by 7 in Nasdaq
VIX UP 9.81% @ 17.35
Oil @ $97.36
Gold @ $1262.20
AH ER : LVS Down 1.95%, SYMC Down 2.07%,
CTXS Down 4.95%
LRCX UP 2.49%, QCOM UP 3.14%, FB UP 12.09%,
FLEX UP 12.34%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, IBD tonight is changing its market outlook to "market in correction".Indices closed @ new lows & made lower lows which is a very weak technical picture.Chinese HSBC final PMI for January came in @ 49.5% lower than 49.6% Flash PMI. We have to watch how we close from hereon as weak market has weak closing. IF you see gain in any stock it is highly recommended to book it ASAP otherwise you may lose most of your gain as market weakness takes hold. Emerging markets may not take FED further taper well.Please keep in mind we are very close to being "deeply oversold"...thus a "V' bottom may form soon.
BLOG does NOT give buy or sell.
Saleem
Indices down .88% to 1.05% on further $10 Billion taper by Fed....
Fed reduced its bond buying by another $10 billion as it readies to complete taper by end of 2014....
S&P 500 @ 1776.84, low 1774.23
Internals are negative by almost 3 to 1
Oil Down 19 cents
Gold UP $12.60
Canadian $ Down 6 tick @ 98.47
VIX UP 8.80% @ 17.19
Portfolio JKS KOG MU AUY
Most stocks are down
@ 2.12 following are green :
AUY LEN CSIQ CIEN JDSU FNSR X
EGO SLW GG AEM WLT....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1776.84, low 1774.23
Internals are negative by almost 3 to 1
Oil Down 19 cents
Gold UP $12.60
Canadian $ Down 6 tick @ 98.47
VIX UP 8.80% @ 17.19
Portfolio JKS KOG MU AUY
Most stocks are down
@ 2.12 following are green :
AUY LEN CSIQ CIEN JDSU FNSR X
EGO SLW GG AEM WLT....
BLOG does NOT give buy or sell.
Saleem
Tuesday, January 28, 2014
Indices closed UP .35% to .61%......NICE !!!!
TAPE struggled in Nasdaq but closed UP in all indices.
S&P 500 @ 1792.50, high 1793.87
RSI @ 39.59
CMF @ 0.083
Internals were :
UP volume led by 4.72 to 1 in NYSE & 2.55 to 1 in Nasdaq
Advancing stocks led by 2.99 to 1 in NYSE & 2.14 to 1 in Nasdaq
Net new 52 wk lows were leading by 14 in NYSE & highs were leading by 17 in Nasdaq
VIX Down 9.30% @ 15.80
Oil @ $97.41
Gold @ $1250.80
Stocks were UP 1% or more included JKS KOG AUY
MA OTEX TWTR AMCC BBRY FB LNKD BIDU
EXPE TSLA AMZN NFLX LUV PCLN GOOG
TSL CSIQ YHOO SINA FFIV COH V YNDX
FSLR GRPN RVBD CIEN C PANW SPLK
STLD EGO SLW GG AEM WUBA WLT
SPWR TRLA Z WYNN LVS YELP...
AH ER: VMW Down 1.94%, YHOO Down 2.43%,
CRUS Down 5.34%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE has become stable & is on uptrend. Tonight major development in emerging markets with India & Turkey boosting interest rates, Turkey taking repo rates from 4.5% to 10% a more than 100% jump to stabilize their Lira. We should have a very strong day on Wednesday. Fed announcement will be as expected with $10 billion taper continuing.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1792.50, high 1793.87
RSI @ 39.59
CMF @ 0.083
Internals were :
UP volume led by 4.72 to 1 in NYSE & 2.55 to 1 in Nasdaq
Advancing stocks led by 2.99 to 1 in NYSE & 2.14 to 1 in Nasdaq
Net new 52 wk lows were leading by 14 in NYSE & highs were leading by 17 in Nasdaq
VIX Down 9.30% @ 15.80
Oil @ $97.41
Gold @ $1250.80
Stocks were UP 1% or more included JKS KOG AUY
MA OTEX TWTR AMCC BBRY FB LNKD BIDU
EXPE TSLA AMZN NFLX LUV PCLN GOOG
TSL CSIQ YHOO SINA FFIV COH V YNDX
FSLR GRPN RVBD CIEN C PANW SPLK
STLD EGO SLW GG AEM WUBA WLT
SPWR TRLA Z WYNN LVS YELP...
AH ER: VMW Down 1.94%, YHOO Down 2.43%,
CRUS Down 5.34%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE has become stable & is on uptrend. Tonight major development in emerging markets with India & Turkey boosting interest rates, Turkey taking repo rates from 4.5% to 10% a more than 100% jump to stabilize their Lira. We should have a very strong day on Wednesday. Fed announcement will be as expected with $10 billion taper continuing.
BLOG does NOT give buy or sell.
Saleem
Indices UP .05% to .51%....NICE !!!!
Tape is staging a rebound from 3 day's of downward move.
S&P 500 @ 1790.49, high 1793.87
Internals are positive by more than 2 to 1 in NYSE & less than 2 to 1 in Nasdaq
Oil UP $1.57
Gold Down $12.80
Canadian $ Down 46 tick @ 98.41...another 4.5 year low
VIX Down 7% @ 16.20
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 2.00 following are red :
SWKS AMCC AAPL MS ARUN CRUS GMCR
LRCX BRCM JDSU SBUX X STLD EGO
AEM CCJ JCP AGU TRIP MLNX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1790.49, high 1793.87
Internals are positive by more than 2 to 1 in NYSE & less than 2 to 1 in Nasdaq
Oil UP $1.57
Gold Down $12.80
Canadian $ Down 46 tick @ 98.41...another 4.5 year low
VIX Down 7% @ 16.20
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 2.00 following are red :
SWKS AMCC AAPL MS ARUN CRUS GMCR
LRCX BRCM JDSU SBUX X STLD EGO
AEM CCJ JCP AGU TRIP MLNX....
BLOG does NOT give buy or sell.
Saleem
Monday, January 27, 2014
Indices closed down .26% to 1.08%......
Indices were under renewed selling pressure, all indices closed down.
S&P 500 @ 1781.56, low 1772.88
RSI @ 34.54
CMF @ 0.032
Internals were :
Down volume led by 2.34 to 1 in NYSE & 4.04 to 1 in Nasdaq
Declining stocks led by 2.86 to 1 in NYSE & 3.43 to 1 in Nasdaq
Net new 52 wk lows were leading by 58 in NYSE & 5 in Nasdaq
VIX Down 3.97% @ 17.42
Oil @ $95.72
Gold @ $1263.40
AH ER : STX Down 6.15%, AAPL Down 8.08% in heavy AH volume of 6.92 million shares.
AH Futures Mixed
AH Asian Markets Mixed.....only Australia down every other indices are green including China.
AH Oil UP
AH Gold Down
About market, All indices closed below 50 DMA. We may test Nasdaq low from today of 4052.63, IF we close above this number then we have completed this correction. This was a quick 3 day pullback of 4.21% which is pretty mild in terms of % move but many stocks went below 50 DMA in a hurry. Hopefully we should see a green close in S&P 500 & Dow , Nasdaq may not due to AAPL & its affect on many suppliers.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1781.56, low 1772.88
RSI @ 34.54
CMF @ 0.032
Internals were :
Down volume led by 2.34 to 1 in NYSE & 4.04 to 1 in Nasdaq
Declining stocks led by 2.86 to 1 in NYSE & 3.43 to 1 in Nasdaq
Net new 52 wk lows were leading by 58 in NYSE & 5 in Nasdaq
VIX Down 3.97% @ 17.42
Oil @ $95.72
Gold @ $1263.40
AH ER : STX Down 6.15%, AAPL Down 8.08% in heavy AH volume of 6.92 million shares.
AH Futures Mixed
AH Asian Markets Mixed.....only Australia down every other indices are green including China.
AH Oil UP
AH Gold Down
About market, All indices closed below 50 DMA. We may test Nasdaq low from today of 4052.63, IF we close above this number then we have completed this correction. This was a quick 3 day pullback of 4.21% which is pretty mild in terms of % move but many stocks went below 50 DMA in a hurry. Hopefully we should see a green close in S&P 500 & Dow , Nasdaq may not due to AAPL & its affect on many suppliers.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
TAPE went into freefall again & Nasdaq pierced 50 DMA & went to 4052.63, 4085.54 is 50 DMA.
Volume was very heavy & above Friday's total before 2 PM.......
This highest volume selling may have been a flush out which may bring stability in TAPE.
S&P 500 @ 1787.10, low 1772.88....a drop of 77.96 points or 4.21% in 7 trading days......
Internals are negative by 3 to 1
Oil Down $1.07
Gold Down $4.10
Canadian $ Down 6 tick @ 89.07
VIX Down 3.58% @ 17.49...high today 18.99...indicating that selling is out of the way for now....
Portfolio JKS KOG MU AUY
Most stocks are down
@ 2.05 following are green :
MU KORS AAPL TSL CSIQ LEN LVS FFIV
FSLR ARUN SNDK JDSU FNSR MCD
CCJ SPWR MLNX.....
BLOG does NOT give buy or sell.
Saleem
Volume was very heavy & above Friday's total before 2 PM.......
This highest volume selling may have been a flush out which may bring stability in TAPE.
S&P 500 @ 1787.10, low 1772.88....a drop of 77.96 points or 4.21% in 7 trading days......
Internals are negative by 3 to 1
Oil Down $1.07
Gold Down $4.10
Canadian $ Down 6 tick @ 89.07
VIX Down 3.58% @ 17.49...high today 18.99...indicating that selling is out of the way for now....
Portfolio JKS KOG MU AUY
Most stocks are down
@ 2.05 following are green :
MU KORS AAPL TSL CSIQ LEN LVS FFIV
FSLR ARUN SNDK JDSU FNSR MCD
CCJ SPWR MLNX.....
BLOG does NOT give buy or sell.
Saleem
Sunday, January 26, 2014
TAPE is in trouble......
TAPE is under severe selling after emerging market weakness is giving "fundamental weakness to US equities"
Emerging market issues do not last one or two days, it is a "structural defect taking place" which takes time to settle down.
Nasdaq is only 46 points above 50 DMA, which may not last on Monday.
Dow & S&P 500 are well below 50 DMA.....
Many technicians & this BLOG has been hinting @ weakness in US markets which may take us down to 1750 area, there is support around 1760 area but it may not hold.
IBD has also changed its market outlook to "uptrend under pressure"
VIX jumped 31.74% to 18.14, this is not to be taken lightly, VIX may go to 21.91 in a hurry with a further upside to 24 area......
Many key events are taking place this week :
-Monday AAPL earning report
-Tuesday State of the union
-Wednesday Fed policy announcement
-Thursday AMZN & GOOG earning
Based on the negative sentiment any weakness in any earning report may be punished.
Chinese stocks are breaking down badly including solar.
Even Airlines earning report are not being rewarded.
Fed will continue tapering which may not sit well with bullish expectation.
All in all "more pain on the way"
It is OK to ride this storm with current portfolio IF they are acting reasonably well, IF NOT changes must be made to better position.
On Friday, we entered a sharply down market & it may have more room to the downside.
Understand this TAPE & adjust accordingly.
It gets very painful until we find support.
BLOG does NOT give buy or sell.
Saleem
Emerging market issues do not last one or two days, it is a "structural defect taking place" which takes time to settle down.
Nasdaq is only 46 points above 50 DMA, which may not last on Monday.
Dow & S&P 500 are well below 50 DMA.....
Many technicians & this BLOG has been hinting @ weakness in US markets which may take us down to 1750 area, there is support around 1760 area but it may not hold.
IBD has also changed its market outlook to "uptrend under pressure"
VIX jumped 31.74% to 18.14, this is not to be taken lightly, VIX may go to 21.91 in a hurry with a further upside to 24 area......
Many key events are taking place this week :
-Monday AAPL earning report
-Tuesday State of the union
-Wednesday Fed policy announcement
-Thursday AMZN & GOOG earning
Based on the negative sentiment any weakness in any earning report may be punished.
Chinese stocks are breaking down badly including solar.
Even Airlines earning report are not being rewarded.
Fed will continue tapering which may not sit well with bullish expectation.
All in all "more pain on the way"
It is OK to ride this storm with current portfolio IF they are acting reasonably well, IF NOT changes must be made to better position.
On Friday, we entered a sharply down market & it may have more room to the downside.
Understand this TAPE & adjust accordingly.
It gets very painful until we find support.
BLOG does NOT give buy or sell.
Saleem
Friday, January 24, 2014
Indices closed down 1.96% to 2.15%......
TAPE was under severe selling pressure as Dow & S&P 500 went way below 50 DMA. Reason for this sharp selling was credited to trouble in emerging market & with their currencies namely India, Turkey, Argentina, Brazil & South Africa.
S&P 500 @ 1790.29...Dow ,Nasdaq & S&P 500 closed @ absolute low of the day....a rarity...
RSI @ 36.82
CMF @ 0.071
Internals were :
Down volume led by 11.29 to 1 in NYSE & 5.16 to 1 in Nasdaq
Declining stocks led by 6.40 to 1 in NYSE & 5.88 to 1 in Nasdaq
Net new 52 wk lows were leading by 49 in NYSE but highs were leading by 7 in Nasdaq
VIX UP 31.74% @ 18.14
Oil @ $96.64
Gold @ $1264.30
Canadian $ @ 89.38
Stocks which closed green included LULU OTEX LNKD SBUX AEM....
Here is my portfolio weighting :
JKS 38.25%
AUY 21.95%
MU 21.82%
KOG 17.98%
Exposure 138%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1790.29...Dow ,Nasdaq & S&P 500 closed @ absolute low of the day....a rarity...
RSI @ 36.82
CMF @ 0.071
Internals were :
Down volume led by 11.29 to 1 in NYSE & 5.16 to 1 in Nasdaq
Declining stocks led by 6.40 to 1 in NYSE & 5.88 to 1 in Nasdaq
Net new 52 wk lows were leading by 49 in NYSE but highs were leading by 7 in Nasdaq
VIX UP 31.74% @ 18.14
Oil @ $96.64
Gold @ $1264.30
Canadian $ @ 89.38
Stocks which closed green included LULU OTEX LNKD SBUX AEM....
Here is my portfolio weighting :
JKS 38.25%
AUY 21.95%
MU 21.82%
KOG 17.98%
Exposure 138%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, January 23, 2014
Indices closed down .57% to 1.07%.....
Chinese PMI created fear resulting in sharp selling then buying near close.
S&P 500 @ 1828.46, low 1820.06
RSI @ 50.32
CMF @ 0.172
Internals were :
Down volume led by 3.07 to 1 in NYSE & 2.40 to 1 in Nasdaq
Declining stocks led by 2.03 to 1 in NYSE & 2.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 48 in NYSE & 78 in Nasdaq
VIX UP 7.24% @ 13.77
Oil @ $97.32
Gold @ $1262.30
AH ER : AMCC Down 2.2%, SBUX UP 1.10%, ALTR UP 3.22%
MSFT UP 3.51%, JNPR UP 3.61%, OTEX UP 5.39%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, ironically Chinese market was down the least yesterday & is UP tonight. There was panic until mid day then major recovery in Nasdaq. Nasdaq was down only .57% which is a testimony to US market strength. Accounting issues raised by SEC impacted Chinese internet stocks negatively. It appears that this was also a 1 day selling & then on to new highs.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1828.46, low 1820.06
RSI @ 50.32
CMF @ 0.172
Internals were :
Down volume led by 3.07 to 1 in NYSE & 2.40 to 1 in Nasdaq
Declining stocks led by 2.03 to 1 in NYSE & 2.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 48 in NYSE & 78 in Nasdaq
VIX UP 7.24% @ 13.77
Oil @ $97.32
Gold @ $1262.30
AH ER : AMCC Down 2.2%, SBUX UP 1.10%, ALTR UP 3.22%
MSFT UP 3.51%, JNPR UP 3.61%, OTEX UP 5.39%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, ironically Chinese market was down the least yesterday & is UP tonight. There was panic until mid day then major recovery in Nasdaq. Nasdaq was down only .57% which is a testimony to US market strength. Accounting issues raised by SEC impacted Chinese internet stocks negatively. It appears that this was also a 1 day selling & then on to new highs.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.05% to 1.12%.......
Chinese Flash PMI is taking a toll on world markets which are down 1%++ ....
S&P 500 @ 1825.58, low 1824.49
Internals are negative by 2 to 1 in NYSE & 3 to 1 in Nasdaq
Oil UP 43 cents
Gold UP $23
Canadian $ Down 36 tick @ 89.81....another 4.5 year low despite better than expected retail sales in Canada.
VIX UP 10.12% @ 14.14
Portfolio JKS KOG MU AUY
Most stocks are down
@ 11.04 following are green :
AUY EXTR EXPE NFLX KORS EBAY FFIV
RVBD OTEX (reports tonight) MCD EGO
SLW GG AEM JCP.....
BLOG does NOT give buy or sell.
PS...had to leave for some chores thus early BLOG.
Saleem
S&P 500 @ 1825.58, low 1824.49
Internals are negative by 2 to 1 in NYSE & 3 to 1 in Nasdaq
Oil UP 43 cents
Gold UP $23
Canadian $ Down 36 tick @ 89.81....another 4.5 year low despite better than expected retail sales in Canada.
VIX UP 10.12% @ 14.14
Portfolio JKS KOG MU AUY
Most stocks are down
@ 11.04 following are green :
AUY EXTR EXPE NFLX KORS EBAY FFIV
RVBD OTEX (reports tonight) MCD EGO
SLW GG AEM JCP.....
BLOG does NOT give buy or sell.
PS...had to leave for some chores thus early BLOG.
Saleem
Wednesday, January 22, 2014
Indices closed mixed......
TAPE was mixed again with Nasdaq closing @ its highest level since 2000.
S&P 500 @ 1844.86, high 1846.87
RSI @ 58.94
CMF @ 0.215
Internals were :
UP volume led by 1.41 to 1 in NYSE & 1.57 to 1 in Nasdaq
Advancing stocks led by 1.83 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk highs were leading by 151 in NYSE & 214 in Nasdaq
VIX Down .23% @ 12.84
Oil @ $96.73
Gold @ $1238.60
Stocks which were UP 1% or more included JKS KOG MU
EXTR SWIR BBRY TRIP MGA BIDU TSLA NFLX
LUV KORS ARUN CRUS GMCR LRCX BRCM
CIEN JDSU FNSR TSL YHOO LEN MA JCP
SPWR CSOD TRLA....
AH ER : SNDK Down .89%, WDC Down 2.82%
EBAY UP 5.7%, FFIV UP 10.39%, NFLX UP 17.96%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Dow was the sole loser of the day. AH Chinese HSBC Flash PMI came in @ 49.6% which is the first contraction in 6 months. Most of the commodities were predicting this for a while. I do not believe this data will change bullish US TAPE. I expect market to close higher on Thursday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1844.86, high 1846.87
RSI @ 58.94
CMF @ 0.215
Internals were :
UP volume led by 1.41 to 1 in NYSE & 1.57 to 1 in Nasdaq
Advancing stocks led by 1.83 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk highs were leading by 151 in NYSE & 214 in Nasdaq
VIX Down .23% @ 12.84
Oil @ $96.73
Gold @ $1238.60
Stocks which were UP 1% or more included JKS KOG MU
EXTR SWIR BBRY TRIP MGA BIDU TSLA NFLX
LUV KORS ARUN CRUS GMCR LRCX BRCM
CIEN JDSU FNSR TSL YHOO LEN MA JCP
SPWR CSOD TRLA....
AH ER : SNDK Down .89%, WDC Down 2.82%
EBAY UP 5.7%, FFIV UP 10.39%, NFLX UP 17.96%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Dow was the sole loser of the day. AH Chinese HSBC Flash PMI came in @ 49.6% which is the first contraction in 6 months. Most of the commodities were predicting this for a while. I do not believe this data will change bullish US TAPE. I expect market to close higher on Thursday.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
TAPE is following a churning pattern of down then trying to recover, Nasdaq is bucking the trend by staying positive.
S&P 500 @ 1844.38, high 1846.58
Internals are positive
Oil UP $1.79
Gold Down $2.40
Canadian $ @ 4.5 year low, down 1.12 cent @ 89.23, Canadian Central bank is hinting @ interest rate cut.
VIX UP .54% @ 12.94
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 1.56 following are red :
AUY LULU OTEX TWTR AMCC FB LNKD M
EXPE AMZN MS PCLN GOOG CMG LVS
EBAY FFIV COH YNDX GRPN X STLD
EGO SLW GG AEM WUBA WYNN
WLT AGU YELP MLNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1844.38, high 1846.58
Internals are positive
Oil UP $1.79
Gold Down $2.40
Canadian $ @ 4.5 year low, down 1.12 cent @ 89.23, Canadian Central bank is hinting @ interest rate cut.
VIX UP .54% @ 12.94
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 1.56 following are red :
AUY LULU OTEX TWTR AMCC FB LNKD M
EXPE AMZN MS PCLN GOOG CMG LVS
EBAY FFIV COH YNDX GRPN X STLD
EGO SLW GG AEM WUBA WYNN
WLT AGU YELP MLNX.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, January 21, 2014
Indices closed mixed.....
TAPE was erratic today & closed mixed.
S&P 500 @ 1843.80, high 1849.31
RSI @ 58.51
CMF @ 0.207
Internals were :
UP volume led by 1.34 to 1 in NYSE & 1.63 to 1 in Nasdaq
Advancing stocks led by 1.91 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 194 in NYSE &
202 in Nasdaq
VIX UP 3.46% @ 12.87
Oil @ $94.99
Gold @ $1241.80
Stocks which were UP2% or more included KOG MU AUY
AMCC BBRY FB TSLA PCLN CIEN CSIQ SPLK
CCJ.....
AH ER : IBM Down 2.82%, AMD Down 11.75%,
CREE UP 1.86%, NUAN UP 8.40%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE has been churning for a while & it may be ready for a decisive move UP as shorts are getting comfortable. Earnings have been mixed so far thus market posture of mixed TAPE. Staying engaged should pay off but pay close attention to stocks which are moving UP. Market verdict this year may be different than last year. Go where money flow is.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1843.80, high 1849.31
RSI @ 58.51
CMF @ 0.207
Internals were :
UP volume led by 1.34 to 1 in NYSE & 1.63 to 1 in Nasdaq
Advancing stocks led by 1.91 to 1 in NYSE & 1.63 to 1 in Nasdaq
Net new 52 wk highs were leading by 194 in NYSE &
202 in Nasdaq
VIX UP 3.46% @ 12.87
Oil @ $94.99
Gold @ $1241.80
Stocks which were UP2% or more included KOG MU AUY
AMCC BBRY FB TSLA PCLN CIEN CSIQ SPLK
CCJ.....
AH ER : IBM Down 2.82%, AMD Down 11.75%,
CREE UP 1.86%, NUAN UP 8.40%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE has been churning for a while & it may be ready for a decisive move UP as shorts are getting comfortable. Earnings have been mixed so far thus market posture of mixed TAPE. Staying engaged should pay off but pay close attention to stocks which are moving UP. Market verdict this year may be different than last year. Go where money flow is.
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
TAPE is quite volatile today on better earnings report. Open was strong then a dive & now recovery.
S&P 500 @ 1842.71, high 1849.31, low 1832.38...so far 17 points swing.
Internals are positive
Oil UP 48 cents
Gold Down $9.50...but most gold stocks are higher...a bullish signal
Canadian $ Down 24 tick @ 91.32
VIX UP 2.57% @ 12.76
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 2.04 following are red :
JKS TRIP EXPE MGA M NFLX MS MA
TSL YHOO LEN CMG YUM LVS V
FSLR SNDK C PANW SBUX X
STLD EGO JCP WUBA CSOD
WLT TRLA Z WYNN GS
YELP MLNX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1842.71, high 1849.31, low 1832.38...so far 17 points swing.
Internals are positive
Oil UP 48 cents
Gold Down $9.50...but most gold stocks are higher...a bullish signal
Canadian $ Down 24 tick @ 91.32
VIX UP 2.57% @ 12.76
Portfolio JKS KOG MU AUY
Most stocks are UP
@ 2.04 following are red :
JKS TRIP EXPE MGA M NFLX MS MA
TSL YHOO LEN CMG YUM LVS V
FSLR SNDK C PANW SBUX X
STLD EGO JCP WUBA CSOD
WLT TRLA Z WYNN GS
YELP MLNX....
BLOG does NOT give buy or sell.
Saleem
Sunday, January 19, 2014
Indices staying in a trading range ?
Indices are going nowhere fast.
In last 12 trading day's, indices have stayed in a tight trading range with nominal highs made.
12 trading days ago we were @ 1849.44.....then we made a high of 1850.84......now we are back @ 1838.70
Reasons for this lethargic TAPE are many, some of them are:
- Earnings so far are struggling.
- Chinese data are pointing to slower or struggling growth.
-There is rotation going on to new sectors
- Housing data is sluggish
- Overbought condition still remains.
-Traders & Money Managers are waiting for pullback.
- January indicator is negative
SO...instead of worrying about where indices are going, focus should be on finding stocks which are bucking the trend or maintaining leadership.
Gold is definitely on the move with highest close in a month...has not performed this well in 2 years.
Airlines are maintaining their leadership role.
Technology is spotty...many struggling.
2014 is shaping to be a lot different than 2013 where selectivity may rule.
2014 may prove to be a "strictly stocks pickers market"
Know the changing dynamics & react accordingly.
It is never easy in Wall Street......
BLOG does NOT give buy or sell.
Saleem
In last 12 trading day's, indices have stayed in a tight trading range with nominal highs made.
12 trading days ago we were @ 1849.44.....then we made a high of 1850.84......now we are back @ 1838.70
Reasons for this lethargic TAPE are many, some of them are:
- Earnings so far are struggling.
- Chinese data are pointing to slower or struggling growth.
-There is rotation going on to new sectors
- Housing data is sluggish
- Overbought condition still remains.
-Traders & Money Managers are waiting for pullback.
- January indicator is negative
SO...instead of worrying about where indices are going, focus should be on finding stocks which are bucking the trend or maintaining leadership.
Gold is definitely on the move with highest close in a month...has not performed this well in 2 years.
Airlines are maintaining their leadership role.
Technology is spotty...many struggling.
2014 is shaping to be a lot different than 2013 where selectivity may rule.
2014 may prove to be a "strictly stocks pickers market"
Know the changing dynamics & react accordingly.
It is never easy in Wall Street......
BLOG does NOT give buy or sell.
Saleem
Friday, January 17, 2014
Indices closed mixed......
Option expiry & weak earnings report took Nasdaq down. Dow was in green.
S&P 500 @ 1838.70, low 1835.23, high 1846.04
RSI @ 56.49
CMF @ 0.227
Internals were :
Down volume led by 2.11 to 1 in NYSE & 1.80 to 1 in Nasdaq
Declining stocks led by 1.34 to 1 in NYSE & 1.39 to 1 in Nasdaq
Net new 52 wk highs were leading by 155 in NYSE & 145 in Nasdaq
VIX Down .72% @ 12.44
Oil @ $94.37
Gold @ $1251.90
Canadian $ @ 90.39
Stocks which closed green included JKS AUY
OTEX TWTR BBRY MGA M EXPE MS
AMZN KORS ARUN RVBD SNDK
LVS V SPLK EGO SLW AEM
CSOD WYNN GS YELP
MLNX....
In my portfolio :
Sold SINA $74.89
Bought MU $22.46
Here is my weighting :
JKS 42.45%
AUY 20.54%
MU 19.84%
KOG 17.17%
Exposure 138%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1838.70, low 1835.23, high 1846.04
RSI @ 56.49
CMF @ 0.227
Internals were :
Down volume led by 2.11 to 1 in NYSE & 1.80 to 1 in Nasdaq
Declining stocks led by 1.34 to 1 in NYSE & 1.39 to 1 in Nasdaq
Net new 52 wk highs were leading by 155 in NYSE & 145 in Nasdaq
VIX Down .72% @ 12.44
Oil @ $94.37
Gold @ $1251.90
Canadian $ @ 90.39
Stocks which closed green included JKS AUY
OTEX TWTR BBRY MGA M EXPE MS
AMZN KORS ARUN RVBD SNDK
LVS V SPLK EGO SLW AEM
CSOD WYNN GS YELP
MLNX....
In my portfolio :
Sold SINA $74.89
Bought MU $22.46
Here is my weighting :
JKS 42.45%
AUY 20.54%
MU 19.84%
KOG 17.17%
Exposure 138%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, January 16, 2014
Indices closed mixed.....
TAPE was under mild selling pressure on poor earnings reports.
S&P 500 @ 1845.89, low 1840.30, high 1847.99
RSI @ 60.34
CMF @ 0.322
Internals were :
Down volume led by 1.12 to 1 in NYSE & 1.22 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & 1.01 to 1 in Nasdaq
Net new 52 wk highs were leading by 160 in NYSE & 172 in Nasdaq
VIX UP 2.04% @ 12.53
Oil @ $93.96
Gold @ $1240.20
AH ER : INTC Down 4.71%, SWKS UP 9.54%
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold UP
About market, considering bad earnings report, internals were on the positive side. TAPE wants to go higher & is fighting any setback with remarkable resiliency. Many sectors continue to outperform even when indices were mixed. Stay engaged with this TAPE as we are going higher.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1845.89, low 1840.30, high 1847.99
RSI @ 60.34
CMF @ 0.322
Internals were :
Down volume led by 1.12 to 1 in NYSE & 1.22 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & 1.01 to 1 in Nasdaq
Net new 52 wk highs were leading by 160 in NYSE & 172 in Nasdaq
VIX UP 2.04% @ 12.53
Oil @ $93.96
Gold @ $1240.20
AH ER : INTC Down 4.71%, SWKS UP 9.54%
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold UP
About market, considering bad earnings report, internals were on the positive side. TAPE wants to go higher & is fighting any setback with remarkable resiliency. Many sectors continue to outperform even when indices were mixed. Stay engaged with this TAPE as we are going higher.
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
Indices are mixed on earnings report which were below expectations.
S&P 500 @ 1844.98, high 1847.99
Internals are mostly negative
Oil Down 11 cents
Gold UP $2.40
Canadian $ UP 10 tick
VIX UP 1.71% @ 12.49
Portfolio JKS KOG SINA AUY
Most stocks are down
@ 2.02 following are green :
KOG AUY TWTR AMCC LNKD TRIP MGA
BIDU TSLA AMZN PCLN GOOG LEN
CSIQ MA YNDX FSLR GRPN
RVBD GMCR SNDK PANW
SPLK MCD STLD SU
SLW CCJ SPWR
CSOD WLT
TRLA AGU
MLNX
YELP....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1844.98, high 1847.99
Internals are mostly negative
Oil Down 11 cents
Gold UP $2.40
Canadian $ UP 10 tick
VIX UP 1.71% @ 12.49
Portfolio JKS KOG SINA AUY
Most stocks are down
@ 2.02 following are green :
KOG AUY TWTR AMCC LNKD TRIP MGA
BIDU TSLA AMZN PCLN GOOG LEN
CSIQ MA YNDX FSLR GRPN
RVBD GMCR SNDK PANW
SPLK MCD STLD SU
SLW CCJ SPWR
CSOD WLT
TRLA AGU
MLNX
YELP....
BLOG does NOT give buy or sell.
Saleem
Wednesday, January 15, 2014
Indices closed UP .52% to .76%......NICE !!!!
Indices closed @ record highs.
S&P 500 @ 1848.38, high 1850.84
RSI @ 61.69
CMF @ 0.288
Internals were :
UP volume led by 2.14 to 1 in NYSE & 2.50 to 1 in Nasdaq
Advancing stocks led by 1.89 to 1 in NYSE & 2.00 to 1 in Nasdaq
Net new 52 wk highs were leading by 230 in NYSE & 225 in Nasdaq
VIX @ 12.28
Oil @ $94.17
Gold @ $1238.30
Stocks which were UP 1% or more included EXTR OTEX
TWTR AMCC BBRY MGA TSLA MS PCLN AAPL
FSLR TSL CSIQ ARUN RVBD SPLK EGO SLW
AEM CCJ JCP WUBA WLT TRLA Z WYNN
GS AGU MLNX.....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE remained strong closing @ all time highs in Dow & S&P 500 while Nasdaq @ 14 year high. Momentum is building for many new highs. This rally is broadbased which will continue until we are close to 70 in RSI.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1848.38, high 1850.84
RSI @ 61.69
CMF @ 0.288
Internals were :
UP volume led by 2.14 to 1 in NYSE & 2.50 to 1 in Nasdaq
Advancing stocks led by 1.89 to 1 in NYSE & 2.00 to 1 in Nasdaq
Net new 52 wk highs were leading by 230 in NYSE & 225 in Nasdaq
VIX @ 12.28
Oil @ $94.17
Gold @ $1238.30
Stocks which were UP 1% or more included EXTR OTEX
TWTR AMCC BBRY MGA TSLA MS PCLN AAPL
FSLR TSL CSIQ ARUN RVBD SPLK EGO SLW
AEM CCJ JCP WUBA WLT TRLA Z WYNN
GS AGU MLNX.....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE remained strong closing @ all time highs in Dow & S&P 500 while Nasdaq @ 14 year high. Momentum is building for many new highs. This rally is broadbased which will continue until we are close to 70 in RSI.
BLOG does NOT give buy or sell.
Saleem
Indices UP .45% to .67%.....NICE !!!!
Indices are into new high for 2014.
S&P 500 @ 18467.16, high 1850.84
Internals are positive close to 2 to 1
Oil UP $1.98
Gold Down $6.80
Canadian $ UP 5 tick @ 91.36
VIX UP .41% @ 12.33
Portfolio JKS KOG SINA AUY
Most stocks are UP
@ 1.58 following are red :
JKS KOG AUY SWIR MU FB TRIP M BIDU
AMZN NFLX LUV GOOG YHOO LEN
DNKN YNDX GRPN CRUS GMCR
LRCX X JCP SPWR CSOD YELP
BLOG Does NOT give buy or sell.
Saleem
S&P 500 @ 18467.16, high 1850.84
Internals are positive close to 2 to 1
Oil UP $1.98
Gold Down $6.80
Canadian $ UP 5 tick @ 91.36
VIX UP .41% @ 12.33
Portfolio JKS KOG SINA AUY
Most stocks are UP
@ 1.58 following are red :
JKS KOG AUY SWIR MU FB TRIP M BIDU
AMZN NFLX LUV GOOG YHOO LEN
DNKN YNDX GRPN CRUS GMCR
LRCX X JCP SPWR CSOD YELP
BLOG Does NOT give buy or sell.
Saleem
Tuesday, January 14, 2014
Indices closed UP .71% to 1.69%.....NICE !!!!
TAPE was strong & closed near high of the day.
S&P 500 @ 1838.88, high 1839.26
RSI @ 58.39
CMF @ 0.269
Internals were :
UP volume led by 3.83 to 1 in NYSE & 4.64 to 1 in Nasdaq
Advancing stocks led by 2.44 to 1 in NYSE & 3.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 90 in NYSE & 125 in Nasdaq
VIX down 7.53% @ 12.28
Oil @ $92.59
Gold @ $1245.40
Stocks which were UP 2% or more included JKS KOG SINA
EXTR SWIR AMCC FB EXPE TSLA LUV GOOG
YNDX FSLR SPWR TSL CSIQ GRPN CRUS
LRCX BRCM YHOO FFIV PANW SPLK
X CCJ JCP CSOD TRLA Z WYNN
AGU YELP MLNX....
AH News : JKS Down 4.41%, VJET Down 7.90%, XONE Down 13.86%
AH Futures Down
AH Asian Markets Mixed
AH Oil unchanged
AH Gold Down
About market, Nasdaq made a new closing 14 year high, IBD tonight has changed its market outlook to "uptrend resumes". S&P 500 is 10 points away from making new all time high which could be this week. Many sectors are performing thus a diversified approach is best.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1838.88, high 1839.26
RSI @ 58.39
CMF @ 0.269
Internals were :
UP volume led by 3.83 to 1 in NYSE & 4.64 to 1 in Nasdaq
Advancing stocks led by 2.44 to 1 in NYSE & 3.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 90 in NYSE & 125 in Nasdaq
VIX down 7.53% @ 12.28
Oil @ $92.59
Gold @ $1245.40
Stocks which were UP 2% or more included JKS KOG SINA
EXTR SWIR AMCC FB EXPE TSLA LUV GOOG
YNDX FSLR SPWR TSL CSIQ GRPN CRUS
LRCX BRCM YHOO FFIV PANW SPLK
X CCJ JCP CSOD TRLA Z WYNN
AGU YELP MLNX....
AH News : JKS Down 4.41%, VJET Down 7.90%, XONE Down 13.86%
AH Futures Down
AH Asian Markets Mixed
AH Oil unchanged
AH Gold Down
About market, Nasdaq made a new closing 14 year high, IBD tonight has changed its market outlook to "uptrend resumes". S&P 500 is 10 points away from making new all time high which could be this week. Many sectors are performing thus a diversified approach is best.
BLOG does NOT give buy or sell.
Saleem
Indices UP .51% to 1.49%....NICE !!!!!
Indices are UP after GS downgrade of US equities with a prediction of 10% drop.....
S&P 500 @ 1835.42, high 1837.41
Internals are positive minimum 2 to 1
Oil UP 73 cents
Gold Down $6.40
Canadian $ Down 64 tick @ 91.37
VIX Down 8.96% @ 12.09
Portfolio JKS KOG SINA AUY
Most stocks are UP
@ 1.55 following are down :
LULU OTEX BBRY TRIP MGA SLW LEN
CMG SU COH TCK STLD EGO GG
AEM WUBA......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1835.42, high 1837.41
Internals are positive minimum 2 to 1
Oil UP 73 cents
Gold Down $6.40
Canadian $ Down 64 tick @ 91.37
VIX Down 8.96% @ 12.09
Portfolio JKS KOG SINA AUY
Most stocks are UP
@ 1.55 following are down :
LULU OTEX BBRY TRIP MGA SLW LEN
CMG SU COH TCK STLD EGO GG
AEM WUBA......
BLOG does NOT give buy or sell.
Saleem
Monday, January 13, 2014
Indices closed down 1.09% to 1.47%......
Indices were under selling pressure after open & closed near low of the day in heavier volume.
S&P 500 @ 1819.20, low 1815.52
RSI @ 50.13
CMF @ 0.201
Internals were :
Down volume led by 5.12 to 1 in NYSE & 3.45 to 1 in Nasdaq
Declining stocks led by 2.48 to 1 in NYSE & 2.52 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 142 in Nasdaq
VIX UP 9.39% @ 13.28
Oil @ $91.80
Gold @ $1251.10
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was under pressure as GS decided to downgrade US market to "underweight with a 10% drawdawn" all in next 90 days. Fed Lockhart joined GS in saying "continued taper is necessary". IBD also joined after close in changing market outlook to "uptrend under pressure". GS also saying that Gold is headed down to $1050 by end of the year. AEM which is a premier gold stock has closed tonight above 50 & 200 DMA, first gold stock to do that. I will not be surprised IF we close green on "turnaround Tuesday"
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1819.20, low 1815.52
RSI @ 50.13
CMF @ 0.201
Internals were :
Down volume led by 5.12 to 1 in NYSE & 3.45 to 1 in Nasdaq
Declining stocks led by 2.48 to 1 in NYSE & 2.52 to 1 in Nasdaq
Net new 52 wk highs were leading by 120 in NYSE & 142 in Nasdaq
VIX UP 9.39% @ 13.28
Oil @ $91.80
Gold @ $1251.10
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was under pressure as GS decided to downgrade US market to "underweight with a 10% drawdawn" all in next 90 days. Fed Lockhart joined GS in saying "continued taper is necessary". IBD also joined after close in changing market outlook to "uptrend under pressure". GS also saying that Gold is headed down to $1050 by end of the year. AEM which is a premier gold stock has closed tonight above 50 & 200 DMA, first gold stock to do that. I will not be surprised IF we close green on "turnaround Tuesday"
BLOG does NOT give buy or sell.
Saleem
Indices down .68% to .77%......
Indices are lower on warning from LULU SODA CELG.....
S&P 500 @ 1828.35, low 1827.68
Internals are negative 2 to 1
Oil Down 85 cents
Gold UP $4.70..GLD above 50 DMA...very bullish
Canadian $ UP 16 tick @ 91.97.....on Central Bank intervention
VIX UP 3.21% @ 12.53
Portfolio JKS KOG SINA AUY
Most stocks are down
@ 1.56 PM following are green :
AUY SLW TWTR OTEX MGA M ARUN CRUS
FNSR AAPL EBAY PCLN GOOG FFIV V
TCK EGO AEM WUBA WYNN AGU....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1828.35, low 1827.68
Internals are negative 2 to 1
Oil Down 85 cents
Gold UP $4.70..GLD above 50 DMA...very bullish
Canadian $ UP 16 tick @ 91.97.....on Central Bank intervention
VIX UP 3.21% @ 12.53
Portfolio JKS KOG SINA AUY
Most stocks are down
@ 1.56 PM following are green :
AUY SLW TWTR OTEX MGA M ARUN CRUS
FNSR AAPL EBAY PCLN GOOG FFIV V
TCK EGO AEM WUBA WYNN AGU....
BLOG does NOT give buy or sell.
Saleem
Sunday, January 12, 2014
Indices build base for 11 trading day's.....now what ?
11 trading days ago on December 24th, 2013 S&P closed @ 1833.32, on January 10th, 2014 low was 1832.43.......
11 trading days may not seem like enough time to build a base for another run...but we are talking runaway bull market where 11 days of sideways trading may be more than enough.
S&P 500 is less than 7 points from making another all time high, this could be achieved on Monday......
Above stat is telling me that vacation & overbought conditions played a role in indices going sideways...
We had one full week of trading after holidays, where new leadership has emerged.
Many frontline stocks are faltering & breaking 10 day, 20 day & 50 day support...which should be noted for preventing further losses.
What we may think about many stocks may not matter when market does not agrees, that is why seasonality & out of favor TAPE action is very obvious.
Now that we are in 2nd full week of trading after holidays, there is plenty of money waiting to be put to work, i am hopeful that we will see a strong outlay of funds into equities.
2014 allocation may chase many stocks which needs to be monitored closely.
I think Gold has turned UP & may see quick move UP in Gold stocks.
Many sectors are behaving well including Solar, Airlines, Techs.....heavy weighting in these will keep portfolios productive.
SO..here we are @ start of third week of 2014 trading, character has changed already.
Good luck with your picks & strategy for 2014.
BLOG does NOT give buy or sell.
Saleem
11 trading days may not seem like enough time to build a base for another run...but we are talking runaway bull market where 11 days of sideways trading may be more than enough.
S&P 500 is less than 7 points from making another all time high, this could be achieved on Monday......
Above stat is telling me that vacation & overbought conditions played a role in indices going sideways...
We had one full week of trading after holidays, where new leadership has emerged.
Many frontline stocks are faltering & breaking 10 day, 20 day & 50 day support...which should be noted for preventing further losses.
What we may think about many stocks may not matter when market does not agrees, that is why seasonality & out of favor TAPE action is very obvious.
Now that we are in 2nd full week of trading after holidays, there is plenty of money waiting to be put to work, i am hopeful that we will see a strong outlay of funds into equities.
2014 allocation may chase many stocks which needs to be monitored closely.
I think Gold has turned UP & may see quick move UP in Gold stocks.
Many sectors are behaving well including Solar, Airlines, Techs.....heavy weighting in these will keep portfolios productive.
SO..here we are @ start of third week of 2014 trading, character has changed already.
Good luck with your picks & strategy for 2014.
BLOG does NOT give buy or sell.
Saleem
Friday, January 10, 2014
Indices closed mixed despite poor jobs report....
Futures were looking good in pre market but @ 830 jobs number went way below the lowest number on the street, 74 K is all she wrote. I am sure there is a "higher revision coming next month".....S&P 500 & Nasdaq had the second highest close after 8 trading days ago.
S&P 500 @ 1842.37, high 1843.15, highest close 1849.44 ( 8 trading days ago)
RSI @ 64.03
CMF @ 0.227
Internals were :
UP volume led by 2.12 to 1 in NYSE & 1.61 to 1 in Nasdaq
Advancing stocks led by 2.56 to 1 in NYSE & 1.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 198 in NYSE & 155 in Nasdaq
VIX Down 5.82% @ 12.14
Oil @ $92.72
Gold @ $1246.90...GLD ready to take out 50 DMA only 30 cents remaining...we all know what happens when 50 DMA is taken out....a breakout towards 200 DMA.....last time GLD was above 50 DMA it was back in October 2013......FWIW
Canadian $ @ 90.83... a 4 year low against US$.......you have to pay only US 90.83 cents to get 1 Canadian $......
Stocks which were UP included JKS KOG SINA AUY
LULU MU FB LNKD TRIP MGA SLW EGO GG
AEM BIDU KORS TSL CSIQ LEN SU ARUN
X RVBD LRCX SPLK CSOD TRLA Z AGU
WYNN YELP......
Here is my weighting :
JKS 38.65%
SINA 28,47%
AUY 17.70%
KOG 15.18%
Exposure 138%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1842.37, high 1843.15, highest close 1849.44 ( 8 trading days ago)
RSI @ 64.03
CMF @ 0.227
Internals were :
UP volume led by 2.12 to 1 in NYSE & 1.61 to 1 in Nasdaq
Advancing stocks led by 2.56 to 1 in NYSE & 1.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 198 in NYSE & 155 in Nasdaq
VIX Down 5.82% @ 12.14
Oil @ $92.72
Gold @ $1246.90...GLD ready to take out 50 DMA only 30 cents remaining...we all know what happens when 50 DMA is taken out....a breakout towards 200 DMA.....last time GLD was above 50 DMA it was back in October 2013......FWIW
Canadian $ @ 90.83... a 4 year low against US$.......you have to pay only US 90.83 cents to get 1 Canadian $......
Stocks which were UP included JKS KOG SINA AUY
LULU MU FB LNKD TRIP MGA SLW EGO GG
AEM BIDU KORS TSL CSIQ LEN SU ARUN
X RVBD LRCX SPLK CSOD TRLA Z AGU
WYNN YELP......
Here is my weighting :
JKS 38.65%
SINA 28,47%
AUY 17.70%
KOG 15.18%
Exposure 138%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, January 9, 2014
Indices closed mixed.....
Jobs report jitters kept market in check resulting in mixed close.
S&P 500 @ 1838.13, low 1830.38, high 1843.23
RSI @ 62.25
CMF @ 0.133
Internals were :
UP volume led by 1.01 to 1 in NYSE & .80 to 1 in Nasdaq
Advancing stocks led by 1.13 to 1 in NYSE & .96 to 1 in Nasdaq
Net new 52 wk highs were leading by 182 in NYSE & 188 in Nasdaq
VIX UP .16% @ 12.89
Oil @ $91.66
Gold @ $1229.40
AH ER AA Down 4.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, it is all about jobs report, i am expecting positive reaction to jobs report, job growth up to 225 K will be taken as "moderate growth" which will keep Fed taper on slow track. Chinese December trade surplus came in @ $25.6 Billion vs expectations of $31.15 Billion. Exports were UP 4.3% vs expectations of 4.9%, Imports UP 8.3% vs expectations of 5.3%. Chinese numbers are tracking below expectations for a while, inflation is running lower than desired. All in all, this week TAPE & VIX action is telling me that all is well in this bull market.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1838.13, low 1830.38, high 1843.23
RSI @ 62.25
CMF @ 0.133
Internals were :
UP volume led by 1.01 to 1 in NYSE & .80 to 1 in Nasdaq
Advancing stocks led by 1.13 to 1 in NYSE & .96 to 1 in Nasdaq
Net new 52 wk highs were leading by 182 in NYSE & 188 in Nasdaq
VIX UP .16% @ 12.89
Oil @ $91.66
Gold @ $1229.40
AH ER AA Down 4.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, it is all about jobs report, i am expecting positive reaction to jobs report, job growth up to 225 K will be taken as "moderate growth" which will keep Fed taper on slow track. Chinese December trade surplus came in @ $25.6 Billion vs expectations of $31.15 Billion. Exports were UP 4.3% vs expectations of 4.9%, Imports UP 8.3% vs expectations of 5.3%. Chinese numbers are tracking below expectations for a while, inflation is running lower than desired. All in all, this week TAPE & VIX action is telling me that all is well in this bull market.
BLOG does NOT give buy or sell.
Saleem
Indices down .26% to .51%......
Better than expected unemployment claims are adding fear to faster taper & stronger jobs report. Indices are lower.
S&P 500 @ 1832.37, low 1830.38
Internals are negative
Oil Down 75 cents
Gold UP $2.40
Canadian $ Down 49 tick @ 91.89..lowest level in 3.5 years
VIX UP 2.95% @ 13.25
Portfolio JKS KOG SINA AUY LULU option
Most stocks are down
@ 2.10 following are green :
LNKD M LUV CMG MA YNDX FSLR C
PANW GG JCP....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1832.37, low 1830.38
Internals are negative
Oil Down 75 cents
Gold UP $2.40
Canadian $ Down 49 tick @ 91.89..lowest level in 3.5 years
VIX UP 2.95% @ 13.25
Portfolio JKS KOG SINA AUY LULU option
Most stocks are down
@ 2.10 following are green :
LNKD M LUV CMG MA YNDX FSLR C
PANW GG JCP....
BLOG does NOT give buy or sell.
Saleem
Wednesday, January 8, 2014
Indices closed mixed......
Indices closed mixed despite hotter than expected ADP data & Fed minutes.
S&P 500 @ 1837.49, high 1840.02, low 1831.40
RSI @ 61.98
CMF @ 0.083
Internals were :
Down volume led by 1.09 to 1 in NYSE & .71 to 1 in Nasdaq
Declining stocks led by 1.31 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 140 in NYSE & 163 in Nasdaq
VIX Down .39% @ 12.87
Oil @ $92.33
Gold $1225.50
AH News : BBBY Down 8.38%, M UP 5.52%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE struggled a bit on private payroll report which was stronger than expected which put fear of speedy taper. There is a fear that Friday's jobs report will be stronger than 190K consensus which has jumped today to 200K. I do not believe that jobs report will be super hot, my guess more or less in-line with expectations. In line jobs report may trigger a strong rally on Friday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1837.49, high 1840.02, low 1831.40
RSI @ 61.98
CMF @ 0.083
Internals were :
Down volume led by 1.09 to 1 in NYSE & .71 to 1 in Nasdaq
Declining stocks led by 1.31 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk highs were leading by 140 in NYSE & 163 in Nasdaq
VIX Down .39% @ 12.87
Oil @ $92.33
Gold $1225.50
AH News : BBBY Down 8.38%, M UP 5.52%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE struggled a bit on private payroll report which was stronger than expected which put fear of speedy taper. There is a fear that Friday's jobs report will be stronger than 190K consensus which has jumped today to 200K. I do not believe that jobs report will be super hot, my guess more or less in-line with expectations. In line jobs report may trigger a strong rally on Friday.
BLOG does NOT give buy or sell.
Saleem
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