TAPE was strong & all indices closed UP.
S&P 500 @ 1872.34, 1875.18, low 1859.16
RSI @ 57.13
CMF 0.016
Internals were :
UP volume led by 3.89 to 1 in NYSE & 3.20 to 1 in Nasdaq
Advancing stocks led by 3.24 to 1 in NYSE & 3.20 to 1 in Nasdaq
Net new 52 wk highs were leading by 131 in NYSE & 48 in Nasdaq
VIX Down 3.68% @ 13.88
Oil @ $101.58
Gold @ $1283.80
Stocks which were UP 1% or more included WUBA MU
OWW SWIR OTEX MA BIDU LUV LULU LVS
SINA DNKN SU YUM FFIV FSLR SPWR
INVN YNDX RVBD CRUS BRCM
AMCC CIEN JDSU FNSR SQM
X STLD CSOD Z WYNN
AGU.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE enjoyed a rare bounce & kept most of its gains by close. Many leaders struggled even on a strong day which is an indication of money coming out of previous high fliers. China official PMI came @ 50.3 for March which is better than February 50.2. I still feel that TAPE will struggle as we wait for jobs report on Friday.
BLOG does NOT give buy or sell.
Saleem
Monday, March 31, 2014
Indices UP .78% to 1.09%....NICE !!!!
TAPE is strong on assuring words from Janet Yellen, reduced tension in Ukraine area & oversold condition.
S&P 500 @ 1871.91, high 1875.18
Internals are positive by almost 3 to 1
Oil Down 2 cents
Gold Down $10.50
Canadian $ UP 9 tick @ 89.50
VIX Down 4.37% @ 13.78
Portfolio EGO MU WUBA
Most stocks are UP
@ 2.17 following are red :
EGO TWTR YHOO COH LNKD AMZN
JCP TSLA NFLX GOOG LEN TSL
JKS CSIQ SSRI AAPL ZNGA
AG PANW GMCR SPLK
SBUX ABX SLW AEM
GG RAD WLT TRLA
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1871.91, high 1875.18
Internals are positive by almost 3 to 1
Oil Down 2 cents
Gold Down $10.50
Canadian $ UP 9 tick @ 89.50
VIX Down 4.37% @ 13.78
Portfolio EGO MU WUBA
Most stocks are UP
@ 2.17 following are red :
EGO TWTR YHOO COH LNKD AMZN
JCP TSLA NFLX GOOG LEN TSL
JKS CSIQ SSRI AAPL ZNGA
AG PANW GMCR SPLK
SBUX ABX SLW AEM
GG RAD WLT TRLA
BLOG does NOT give buy or sell.
Saleem
Sunday, March 30, 2014
Nasdaq weakness to continue ?
Nasdaq has seen some of worst damage in leading stocks, based on TAPE action it is nowhere close to reversing this trend.
Nasdaq has seeing 5 consecutive day of below 50 DMA moves, 3 days of below 50 DMA close.
Many leading stocks are trading below 50 DMA which includes the following GOOG FB PCLN NFLX EXPE LNKD MA BIDU QIHU DATA WUBA YELP JKS SPWR....
Some leading stocks are barely above 50 DMA which includes CMG TSLA BAC KORS.....
Below 200 DMA includes AMZN NTES CSOD
All indices are seeing negative money flow.
Many are pinning hope for a reversal on Friday when Jobs report is expected to show 200K growth, but by Friday we may have gone further lower in indices.
The question is how to deal with this downward trend which may remain in place for a while yet.
First & foremost is to recognize that this is NOT the old bull, it is a very tired bull & is showing serious weakness.
SO..the old buy & hold strategy will be damaging to your financial health.
This market needs "laser focus trading strategy"
Know your trading stocks well & use "technical trading approach"
We are talking singles from hereon until TAPE changes to a healthy TAPE.
A 5% gain is highly desirable otherwise you risk of losing it & going into loss.
Intraday or day trading is ideal......
This is not the time to be sloppy & practice wishful strategy as it IS a very difficult TAPE.
Good luck with your own trading strategy.
BLOG does NOT give buy or sell.
Saleem
Nasdaq has seeing 5 consecutive day of below 50 DMA moves, 3 days of below 50 DMA close.
Many leading stocks are trading below 50 DMA which includes the following GOOG FB PCLN NFLX EXPE LNKD MA BIDU QIHU DATA WUBA YELP JKS SPWR....
Some leading stocks are barely above 50 DMA which includes CMG TSLA BAC KORS.....
Below 200 DMA includes AMZN NTES CSOD
All indices are seeing negative money flow.
Many are pinning hope for a reversal on Friday when Jobs report is expected to show 200K growth, but by Friday we may have gone further lower in indices.
The question is how to deal with this downward trend which may remain in place for a while yet.
First & foremost is to recognize that this is NOT the old bull, it is a very tired bull & is showing serious weakness.
SO..the old buy & hold strategy will be damaging to your financial health.
This market needs "laser focus trading strategy"
Know your trading stocks well & use "technical trading approach"
We are talking singles from hereon until TAPE changes to a healthy TAPE.
A 5% gain is highly desirable otherwise you risk of losing it & going into loss.
Intraday or day trading is ideal......
This is not the time to be sloppy & practice wishful strategy as it IS a very difficult TAPE.
Good luck with your own trading strategy.
BLOG does NOT give buy or sell.
Saleem
Friday, March 28, 2014
Indices closed UP .11% to .46%....NICE !!!!
TAPE started on a strong note on Chinese stimulus hope but lost most of its gains by close. All indices were able to close green & above lows of the day.....a victory for bulls.
S&P 500 @ 1857.62, low 1850.07, high 1866.63
RSI @ 51.86
CMF -0.016
Internals were :
UP volume led by 3.04 to 1 in NYSE & 1.21 to 1 in Nasdaq
Advancing stocks led by 2.53 to 1 in NYSE & 1.02 to 1 in Nasdaq
Net new 52 wk highs were leading by 60 in NYSE & lows by 7 in Nasdaq
VIX Down 1.44% @ 14.41
Oil @ $101.67
Gold @ $1294.30, low today $1285.90
Canadian $ Down 7 tick @ 89.36
In my portfolio :
Sold BBRY @ $8.94
Sold KOG @ $12.07
Bought WUBA @ $42.01 & $40.79
Added 30% EGO @ $5.73
Portfolio weighting :
MU 34.64%
WUBA 33.45%
EGO 31.91%
Exposure 148%
Stocks which were UP 1% or more included WUBA KOG
LULU KORS TSLA TWTR JKS YNDX SNDK LVS
AMCC FNSR LNKD TSL CSIQ DNKN CMG
MCDSU YUM GMCR ABX SLW AEM
WLT TRLA Z......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1857.62, low 1850.07, high 1866.63
RSI @ 51.86
CMF -0.016
Internals were :
UP volume led by 3.04 to 1 in NYSE & 1.21 to 1 in Nasdaq
Advancing stocks led by 2.53 to 1 in NYSE & 1.02 to 1 in Nasdaq
Net new 52 wk highs were leading by 60 in NYSE & lows by 7 in Nasdaq
VIX Down 1.44% @ 14.41
Oil @ $101.67
Gold @ $1294.30, low today $1285.90
Canadian $ Down 7 tick @ 89.36
In my portfolio :
Sold BBRY @ $8.94
Sold KOG @ $12.07
Bought WUBA @ $42.01 & $40.79
Added 30% EGO @ $5.73
Portfolio weighting :
MU 34.64%
WUBA 33.45%
EGO 31.91%
Exposure 148%
Stocks which were UP 1% or more included WUBA KOG
LULU KORS TSLA TWTR JKS YNDX SNDK LVS
AMCC FNSR LNKD TSL CSIQ DNKN CMG
MCDSU YUM GMCR ABX SLW AEM
WLT TRLA Z......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
BBRY reports Q4......Beats on EPS by 49 cents..Stock UP 7%.....NICE !!!!
BBRY Q4 results are :
Sales actual $976 Million expectations $1.1 Billion
EPS actual loss of 8 cents expectations loss of 57 cents
Gross margin 43% vs 34% in Q3
Channel inventory down 30% from Q3
Reduced Operating expenses by 51%
Cash @ end of Q4 $2.7 Billion
Outlook break even by end of this year.
Stock in pre market Bid $9.67 Ask $9.68, closed @ $9.05
BLOG does NOT give buy or sell.
Saleem
Sales actual $976 Million expectations $1.1 Billion
EPS actual loss of 8 cents expectations loss of 57 cents
Gross margin 43% vs 34% in Q3
Channel inventory down 30% from Q3
Reduced Operating expenses by 51%
Cash @ end of Q4 $2.7 Billion
Outlook break even by end of this year.
Stock in pre market Bid $9.67 Ask $9.68, closed @ $9.05
BLOG does NOT give buy or sell.
Saleem
Thursday, March 27, 2014
Indices closed down .03% to .54%.....
Indices were under selling pressure again & Nasdaq was the weakest @ close.
S&P 500 @ 1849.04, low 1842.11, high 1855.55
RSI @ 48.43
CMF @ -0.002...its negative in all indices.....
Internals were :
UP volume led by 1.25 to 1 in NYSE & .59 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & .64 to 1 in Nasdaq
Net new 52 wk highs were leading by 17 in NYSE & lows by 34 in Nasdaq
VIX Down 2.08% @ 14.62
Oil @ $101.28
Gold @ $1294.70, low today was $1289.60
AH ER : RHT UP .12%, RH UP 7.33%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, there is still weakness in Nasdaq which you can see in internals as given above. Nasdaq is the only index which is below 50 DMA while Dow & S&P 500 are still above 50 DMA which is a good thing. VIX was weak @ close giving hope for this selling to have ended. Many stocks went below not only 50 DMA but also below 200 DMA in Nasdaq, this correction was fast & brutal in Nasdaq. Nasdaq lost 5.49% in March alone. Hopefully Nasdaq & financials will build from here & repair the damage.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1849.04, low 1842.11, high 1855.55
RSI @ 48.43
CMF @ -0.002...its negative in all indices.....
Internals were :
UP volume led by 1.25 to 1 in NYSE & .59 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & .64 to 1 in Nasdaq
Net new 52 wk highs were leading by 17 in NYSE & lows by 34 in Nasdaq
VIX Down 2.08% @ 14.62
Oil @ $101.28
Gold @ $1294.70, low today was $1289.60
AH ER : RHT UP .12%, RH UP 7.33%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, there is still weakness in Nasdaq which you can see in internals as given above. Nasdaq is the only index which is below 50 DMA while Dow & S&P 500 are still above 50 DMA which is a good thing. VIX was weak @ close giving hope for this selling to have ended. Many stocks went below not only 50 DMA but also below 200 DMA in Nasdaq, this correction was fast & brutal in Nasdaq. Nasdaq lost 5.49% in March alone. Hopefully Nasdaq & financials will build from here & repair the damage.
BLOG does NOT give buy or sell.
Saleem
Indices down .14% to .53%......
Indices are down again as selling continues in Nasdaq.
S&P 500 @ 1846.74, low 1842.11, high 1855.55
Internals are mixed
Oil UP $1.30
Gold Down $8.10...low today $1292.....could be support ?
Canadian $ UP 45 tick @ 89.46
VIX UP .60% @ 15.02
In my portfolio :
Sold LULU @ $52.25
Bought BBRY @ $8.96
Added 55% EGO @ $5.83
Portfolio BBRY EGO KOG MU
BBRY reports before open on Friday, expectations are :
Q4 Sales $1.11 Billion EPS loss 57 cents
Q1 Guidance Sales $1.13 Billion EPS loss 39 cents
There is an ongoing heavy short position in BBRY &
they may surprise with better result & better guidance.
Most stocks are down
@ 1.43 following are green :
KOG LULU TWTR FB EXPE YHOO COH JCP
M JKS SU FFIV FSLR AMCC AG SQM
PANW GMCR MCD SLW AEM V
WUBA AGU YELP.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1846.74, low 1842.11, high 1855.55
Internals are mixed
Oil UP $1.30
Gold Down $8.10...low today $1292.....could be support ?
Canadian $ UP 45 tick @ 89.46
VIX UP .60% @ 15.02
In my portfolio :
Sold LULU @ $52.25
Bought BBRY @ $8.96
Added 55% EGO @ $5.83
Portfolio BBRY EGO KOG MU
BBRY reports before open on Friday, expectations are :
Q4 Sales $1.11 Billion EPS loss 57 cents
Q1 Guidance Sales $1.13 Billion EPS loss 39 cents
There is an ongoing heavy short position in BBRY &
they may surprise with better result & better guidance.
Most stocks are down
@ 1.43 following are green :
KOG LULU TWTR FB EXPE YHOO COH JCP
M JKS SU FFIV FSLR AMCC AG SQM
PANW GMCR MCD SLW AEM V
WUBA AGU YELP.....
BLOG does NOT give buy or sell.
Saleem
LULU beats on Q4 Sales & EPS........
LULU is reporting the following for Q4 :
Sales actual $521 Million expectations were $511 Million a beat by $10 million
EPS actual 75 cents expectations were 72 cents a beat by 3 cents
Q1 guidance $377 to $382 million expectations were $389.4 million a miss by $9.9 million on Sales..
Q1 EPS guidance 31 to 33 cents expectations were 38 cents a miss by 6 cents......
LULU may be practicing UPOD & may beat this lowered guidance....
LULU stock in pre market Bid $47.70 Ask $47.99....closed @ $48.23.......
BLOG does NOT give buy or sell.
Saleem
Sales actual $521 Million expectations were $511 Million a beat by $10 million
EPS actual 75 cents expectations were 72 cents a beat by 3 cents
Q1 guidance $377 to $382 million expectations were $389.4 million a miss by $9.9 million on Sales..
Q1 EPS guidance 31 to 33 cents expectations were 38 cents a miss by 6 cents......
LULU may be practicing UPOD & may beat this lowered guidance....
LULU stock in pre market Bid $47.70 Ask $47.99....closed @ $48.23.......
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 26, 2014
Indices closed down .60% to 1.43%........
Indices were under selling pressure again.
S&P 500 @ 1852.56, high 1875.92
RSI @ 49.79
CMF @ 0.043
Internals were :
Down volume led by 3.47 to 1 in NYSE & 6.66 to 1 in Nasdaq
Declining stocks led by 1.99 to 1 in NYSE & 4.05 to 1 in Nasdaq
Net new 52 wk highs were leading by 55 in NYSE & by 17 in Nasdaq
VIX UP 6.49% @ 14.93
Oil @ $100.26
Gold @ $1303.40
AH news : C Down 5.1%, PAYX UP 3.39%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE went down on high volume & all indices closed @ absolute low of the day which is a rarity. IBD tonight is changing its market outlook to "market in correction". Internals in Nasdaq was extremely bearish & selling has been intense. We may get an "oversold bounce" on Thursday but it may not signal an end to the downward moves. Only lesson is "do not fight this TAPE".......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1852.56, high 1875.92
RSI @ 49.79
CMF @ 0.043
Internals were :
Down volume led by 3.47 to 1 in NYSE & 6.66 to 1 in Nasdaq
Declining stocks led by 1.99 to 1 in NYSE & 4.05 to 1 in Nasdaq
Net new 52 wk highs were leading by 55 in NYSE & by 17 in Nasdaq
VIX UP 6.49% @ 14.93
Oil @ $100.26
Gold @ $1303.40
AH news : C Down 5.1%, PAYX UP 3.39%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE went down on high volume & all indices closed @ absolute low of the day which is a rarity. IBD tonight is changing its market outlook to "market in correction". Internals in Nasdaq was extremely bearish & selling has been intense. We may get an "oversold bounce" on Thursday but it may not signal an end to the downward moves. Only lesson is "do not fight this TAPE".......
BLOG does NOT give buy or sell.
Saleem
Indices down .39% to 1.07%.......
Indices are under selling pressure again, high beta stocks are violating many support level.
S&P 500 @ 1857.68, low 1857.58, high 1875.92...low from Monday is 1849.69
Internals are negative , 3 to 1 negative in Nasdaq
Oil UP 76 cents
Gold Down $7.50, low today $1300.90
Canadian $ UP 54 tick @ 88.89
VIX UP 4.42% @ 14.64
Portfolio EGO KOG LULU MU
Most stocks are down
@ 2.08 following are green :
LULU OTEX LNKD JCP MGA M NFLX
YUM SPWR CRUS BRCM SPLK
MCD AGU.....
LULU reports before open Thursday, expectations are :
Q4 Sales $515.11 Million EPS 72 cents
Q1 guidance Sales $389.39 Million EPS 38 cents
Expecting higher guidance.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1857.68, low 1857.58, high 1875.92...low from Monday is 1849.69
Internals are negative , 3 to 1 negative in Nasdaq
Oil UP 76 cents
Gold Down $7.50, low today $1300.90
Canadian $ UP 54 tick @ 88.89
VIX UP 4.42% @ 14.64
Portfolio EGO KOG LULU MU
Most stocks are down
@ 2.08 following are green :
LULU OTEX LNKD JCP MGA M NFLX
YUM SPWR CRUS BRCM SPLK
MCD AGU.....
LULU reports before open Thursday, expectations are :
Q4 Sales $515.11 Million EPS 72 cents
Q1 guidance Sales $389.39 Million EPS 38 cents
Expecting higher guidance.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 25, 2014
Indices closed UP .19% to .56%.......NICE !!!!
Indices closed UP after some hesitation.
S&P 500 @ 1865.62, low 1855.96, high 1871.87
RSI @ 55.08
CMF @ 0.083
Internals were :
UP volume led by 1.62 to 1 in NYSE & 1.18 to 1 in Nasdaq
Advancing stocks led by 1.45 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk high were leading by 61 in NYSE & by 20 in Nasdaq
Oil @ $99.19
Gold @ $1311.40
Stocks which closed green included KOG MU
ZNGA AMZN FB JCP MGA TSLA LUV
GOOG CSIQ SSRI SU FFIV AAPL
YNDX ARUN CRUS LRCX C
SNDK BRCM FNSR HMY
SQM GMCR X STLD Z
SLW AEM WUBA
TRLA AGU....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE got a boost from consumer confidence numbers which came in @ 6 year high. There is rotation going on in market which needs to be noted & followed. When high beta go out of favor then it takes a while to come into play again. Copper, Steel & many old techs were in play. Safe & boring stocks can avoid major damage to equity in this environment.Adaptability then patience should work.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1865.62, low 1855.96, high 1871.87
RSI @ 55.08
CMF @ 0.083
Internals were :
UP volume led by 1.62 to 1 in NYSE & 1.18 to 1 in Nasdaq
Advancing stocks led by 1.45 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk high were leading by 61 in NYSE & by 20 in Nasdaq
Oil @ $99.19
Gold @ $1311.40
Stocks which closed green included KOG MU
ZNGA AMZN FB JCP MGA TSLA LUV
GOOG CSIQ SSRI SU FFIV AAPL
YNDX ARUN CRUS LRCX C
SNDK BRCM FNSR HMY
SQM GMCR X STLD Z
SLW AEM WUBA
TRLA AGU....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE got a boost from consumer confidence numbers which came in @ 6 year high. There is rotation going on in market which needs to be noted & followed. When high beta go out of favor then it takes a while to come into play again. Copper, Steel & many old techs were in play. Safe & boring stocks can avoid major damage to equity in this environment.Adaptability then patience should work.
BLOG does NOT give buy or sell.
Saleem
Indices UP .22% to .67%.......NICE !!!!
Indices are UP after early dip.
S&P 500 @ 1865.90, low 1855.96, high 1871.87
Internals are positive
Oil Down 39 cents
Gold UP 10 cents
Canadian $ UP 31 tick @ 88.40
VIX Down 4.71% @ 14.38
In my portfolio :
Sold TSL @ $14.76
Added 75% LULU @ $48.64
Portfolio EGO KOG LULU MU
Most stocks are UP
@ 2.15 following are red :
LULU TWTR YHOO COH LNKD MA YELP
M NFLX KORS JKS LVS SINA GS
DNKN CMG EBAY YUM TRIP
BIDU V FSLR SPWR MLNX
GRPN RVBD CIEN
AG SWIR SPLK
SBUX MCD
CSOD MS
WYNN...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1865.90, low 1855.96, high 1871.87
Internals are positive
Oil Down 39 cents
Gold UP 10 cents
Canadian $ UP 31 tick @ 88.40
VIX Down 4.71% @ 14.38
In my portfolio :
Sold TSL @ $14.76
Added 75% LULU @ $48.64
Portfolio EGO KOG LULU MU
Most stocks are UP
@ 2.15 following are red :
LULU TWTR YHOO COH LNKD MA YELP
M NFLX KORS JKS LVS SINA GS
DNKN CMG EBAY YUM TRIP
BIDU V FSLR SPWR MLNX
GRPN RVBD CIEN
AG SWIR SPLK
SBUX MCD
CSOD MS
WYNN...
BLOG does NOT give buy or sell.
Saleem
Monday, March 24, 2014
Indices closed down .16% to 1.18%......
Indices were under selling pressure after opening higher.
S&P 500 @ 1857.44, low 1849.69, high 1873.34
RSI @ 52.12
CMF @ 0.060
Internals were :
Down volume led by 1.87 to 1 in NYSE & 3.58 to 1 in Nasdaq
Declining stocks led by 1.66 to 1 in NYSE & 3.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 43 in NYSE & by 4 in Nasdaq
VIX UP .60% @ 15.09
Oil @ $99.60
Gold @ $1311.60
AH Futures UP
AH Asian Markets mixed
AH Oil Down
AH Gold UP
About market, TAPE was subjected to selling pressure. We are experiencing a "technical breakdown" in majority of high beta stocks which does not bode well for Nasdaq. Carter Worth is predicting a 13% correction in Nasdaq, his target is 3800 for Nasdaq. Sometimes we go through a major shift in market & this may be one of those situation. Do not be euphoric by a snapback which may happen on Tuesday, this is a normal TAPE action on its way to lower close in the week.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1857.44, low 1849.69, high 1873.34
RSI @ 52.12
CMF @ 0.060
Internals were :
Down volume led by 1.87 to 1 in NYSE & 3.58 to 1 in Nasdaq
Declining stocks led by 1.66 to 1 in NYSE & 3.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 43 in NYSE & by 4 in Nasdaq
VIX UP .60% @ 15.09
Oil @ $99.60
Gold @ $1311.60
AH Futures UP
AH Asian Markets mixed
AH Oil Down
AH Gold UP
About market, TAPE was subjected to selling pressure. We are experiencing a "technical breakdown" in majority of high beta stocks which does not bode well for Nasdaq. Carter Worth is predicting a 13% correction in Nasdaq, his target is 3800 for Nasdaq. Sometimes we go through a major shift in market & this may be one of those situation. Do not be euphoric by a snapback which may happen on Tuesday, this is a normal TAPE action on its way to lower close in the week.
BLOG does NOT give buy or sell.
Saleem
Indices down .11% to 1.25%......
Indices are facing technical selling after reversal on Friday.
S&P 500 @ 1857.73, low 1849.69, high 1873.34
Internals are negative
Oil UP 44 cents
Gold Down $24.30
Canadian $ UP 26 tick @ 88.07
VIX UP 1.20% @ 15.18, high so far is 16.07 this AM....
Portfolio EGO KOG LULU MU TSL
Most stocks are down
@ 2.12 following are green :
LULU BBRY MA JCP LUV SU AAPL FSLR
CRUS BRCM C MCD X STLD WLT......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1857.73, low 1849.69, high 1873.34
Internals are negative
Oil UP 44 cents
Gold Down $24.30
Canadian $ UP 26 tick @ 88.07
VIX UP 1.20% @ 15.18, high so far is 16.07 this AM....
Portfolio EGO KOG LULU MU TSL
Most stocks are down
@ 2.12 following are green :
LULU BBRY MA JCP LUV SU AAPL FSLR
CRUS BRCM C MCD X STLD WLT......
BLOG does NOT give buy or sell.
Saleem
Sunday, March 23, 2014
IS the rally over ?
Friday S&P 500 closed @ 1866.52 after hitting all time high of 1883.97 on Friday.
Technicians are extremely worried about this reversal.
They are predicting a challenging week with S&P 500 finding support @ 1848.
My read tells me that 1834 is first stop, next stop could be 1810.
This will be a healthy pullback.
Many sectors may do well in this pullback like gold, silver, steel,copper......
Most vulnerable are "high beta" tech stocks...they can fall quite a bit to their major support.
It is important to reduce your exposure in high beta tech stocks.
It is important to "change" with changing tide of Wall Street.
Many traders do not adjust to changes in sectors or anticipate upcoming change of focus due to rotation.
Rotation is a reality based on geo-political forces, policy changes or seasonality, we are facing all three currently which will result in major shift in sectors.
Please do not be fixated on exceptions when one or two stocks may buck the trend......majority rules.
Odds of trading success increases with exposure in seasonally strong stocks.
SO...change is here & adjusting to changes is the secret in making money.
TAPE has decidedly turned "very difficult" since the start of 2014...which is to be expected after 5 years of straight UP market.
Difficult TAPE is here to stay until Q4.......
BLOG does NOT give buy or sell.
Saleem
Technicians are extremely worried about this reversal.
They are predicting a challenging week with S&P 500 finding support @ 1848.
My read tells me that 1834 is first stop, next stop could be 1810.
This will be a healthy pullback.
Many sectors may do well in this pullback like gold, silver, steel,copper......
Most vulnerable are "high beta" tech stocks...they can fall quite a bit to their major support.
It is important to reduce your exposure in high beta tech stocks.
It is important to "change" with changing tide of Wall Street.
Many traders do not adjust to changes in sectors or anticipate upcoming change of focus due to rotation.
Rotation is a reality based on geo-political forces, policy changes or seasonality, we are facing all three currently which will result in major shift in sectors.
Please do not be fixated on exceptions when one or two stocks may buck the trend......majority rules.
Odds of trading success increases with exposure in seasonally strong stocks.
SO...change is here & adjusting to changes is the secret in making money.
TAPE has decidedly turned "very difficult" since the start of 2014...which is to be expected after 5 years of straight UP market.
Difficult TAPE is here to stay until Q4.......
BLOG does NOT give buy or sell.
Saleem
Friday, March 21, 2014
Indices closed lower by .17% to .98%......
Indices made a reversal & closed lower.
S&P 500 @ 1866.40, low 1863.46, high 1883.97 ( a new all time high )
RSI @ 55.87
CMF @ 0.080
Internals were :
UP volume led by 1.10 to 1 in NYSE & .46 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & .77 to 1 in Nasdaq
Net new 52 wk highs were leading by 166 in NYSE & 138 in Nasdaq
VIX UP 3.31% @ 15.00
Oil @ $99.46
Gold @ $1336.00
Canadian $ UP 57 tick 88.06......it is hovering around 4.5 years low against US$
Stocks which closed green included TWTR YHOO COH
JCP FB M BIDU SINA AAPL SU V FSLR ARUN
FNSR X STLD WLT TRLA Z AGU MLNX.....
Here is my portfolio weighting :
MU 28.06%
KOG 25.00%
LULU 21.52%
EGO 13.10%
TSL 12.32%
Exposure 148%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1866.40, low 1863.46, high 1883.97 ( a new all time high )
RSI @ 55.87
CMF @ 0.080
Internals were :
UP volume led by 1.10 to 1 in NYSE & .46 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & .77 to 1 in Nasdaq
Net new 52 wk highs were leading by 166 in NYSE & 138 in Nasdaq
VIX UP 3.31% @ 15.00
Oil @ $99.46
Gold @ $1336.00
Canadian $ UP 57 tick 88.06......it is hovering around 4.5 years low against US$
Stocks which closed green included TWTR YHOO COH
JCP FB M BIDU SINA AAPL SU V FSLR ARUN
FNSR X STLD WLT TRLA Z AGU MLNX.....
Here is my portfolio weighting :
MU 28.06%
KOG 25.00%
LULU 21.52%
EGO 13.10%
TSL 12.32%
Exposure 148%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 20, 2014
Indices closed UP .27% to .67%.....NICE !!!!
TAPE rebounded nicely after initial hesitation. All indices closed green.
S&P 500 @ 1872.01, high 1873.49
RSI @ 58.31
CMF @ 0.092
Internals were :
UP volume led by 1.87 to 1 in NYSE & 1.33 to 1 in Nasdaq
Declining stocks led by 1.06 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 63 in NYSE & 107 in Nasdaq
VIX Down 3.97% @ 14.52
Oil @ $99.43
Gold @ $1330.50
Stocks which were UP 1% or more included LNKD JCP NFLX
CSIQ CMG YUM FSLR SPWR INVN LRCX SNDK
BRCM AMCC CIEN FNSR C AG GRPN SPLK
SBUX X MS TRLA Z.........
AH ER : TIBX UP 1.90%, LEN Down 2.47% Before open.
NKE Down 3.31%, RALY Down 4.43%
SYMC Down 6.05% ( CEO departed )
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE is under tremendous selling pressure so any positive close is a major sign of strength. Seasonally we are in a weak period, earnings are out mostly. Most stocks whether Chinese or Cloud based are under intense selling pressure. It is important not to be concentrated in any one sector, diversification & focus on strong sector should offset any market weakness. It is becoming a "stock picker" market, so do your analysis on a daily basis.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1872.01, high 1873.49
RSI @ 58.31
CMF @ 0.092
Internals were :
UP volume led by 1.87 to 1 in NYSE & 1.33 to 1 in Nasdaq
Declining stocks led by 1.06 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk highs were leading by 63 in NYSE & 107 in Nasdaq
VIX Down 3.97% @ 14.52
Oil @ $99.43
Gold @ $1330.50
Stocks which were UP 1% or more included LNKD JCP NFLX
CSIQ CMG YUM FSLR SPWR INVN LRCX SNDK
BRCM AMCC CIEN FNSR C AG GRPN SPLK
SBUX X MS TRLA Z.........
AH ER : TIBX UP 1.90%, LEN Down 2.47% Before open.
NKE Down 3.31%, RALY Down 4.43%
SYMC Down 6.05% ( CEO departed )
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE is under tremendous selling pressure so any positive close is a major sign of strength. Seasonally we are in a weak period, earnings are out mostly. Most stocks whether Chinese or Cloud based are under intense selling pressure. It is important not to be concentrated in any one sector, diversification & focus on strong sector should offset any market weakness. It is becoming a "stock picker" market, so do your analysis on a daily basis.
BLOG does NOT give buy or sell.
Saleem
Indices UP .37% to .66%.......NICE !!!!!
Indices are UP after US economic data came in better than expected.
S&P 500 @ 1871.35, high 1873.39
Internals are positive
Oil Down 36 cents
Gold Down $10.40
Canadian $ Down 7 tick @ 87.59...@ new 4 year low
VIX Down 2.25% @ 14.78
Portfolio EGO KOG LULU MU TSL
Most stocks are UP
@ 1.39 following are red :
LULU OTEX YHOO COH AMZN FB MGA
BIDU KORS AAPL JKS LVS SINA
YNDX SQM SWIR V WUBA
CSOD WLT WYNN YELP
TRIP MLNX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1871.35, high 1873.39
Internals are positive
Oil Down 36 cents
Gold Down $10.40
Canadian $ Down 7 tick @ 87.59...@ new 4 year low
VIX Down 2.25% @ 14.78
Portfolio EGO KOG LULU MU TSL
Most stocks are UP
@ 1.39 following are red :
LULU OTEX YHOO COH AMZN FB MGA
BIDU KORS AAPL JKS LVS SINA
YNDX SQM SWIR V WUBA
CSOD WLT WYNN YELP
TRIP MLNX....
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 19, 2014
Indices closed down .59% to .70%.......
Indices closed lower in reaction to Fed conference call.
S&P 500 @ 1860.77, low 1850.35, high 1874.14
RSI @ 54.62
CMF @ 0.084
Internals were :
Down volume led by 2.80 to 1 in NYSE & 1.65 to 1 in Nasdaq
Declining stocks led by 3.05 to 1 in NYSE & 1.56 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 112 in Nasdaq
VIX UP 4.13% @ 15.12
Oil @ $100.37
Gold @ $1341.30, low today $1327.80, low AH $1326.10, Friday high was $1388
AH ER : JBL Down 3.34%, XONE Down 10.40%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went into "negative overdrive" the minute more clarity was given by Fed in terms of ending Tapering by October of this year & in Q2 of 2015 first increase in interest rate. This is a clear "over-reaction" to a well defined & reasoned approach by Fed. VIX did not go into overdrive & indices closed well above lows of the day. I am expecting a green close on Thursday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1860.77, low 1850.35, high 1874.14
RSI @ 54.62
CMF @ 0.084
Internals were :
Down volume led by 2.80 to 1 in NYSE & 1.65 to 1 in Nasdaq
Declining stocks led by 3.05 to 1 in NYSE & 1.56 to 1 in Nasdaq
Net new 52 wk highs were leading by 81 in NYSE & 112 in Nasdaq
VIX UP 4.13% @ 15.12
Oil @ $100.37
Gold @ $1341.30, low today $1327.80, low AH $1326.10, Friday high was $1388
AH ER : JBL Down 3.34%, XONE Down 10.40%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went into "negative overdrive" the minute more clarity was given by Fed in terms of ending Tapering by October of this year & in Q2 of 2015 first increase in interest rate. This is a clear "over-reaction" to a well defined & reasoned approach by Fed. VIX did not go into overdrive & indices closed well above lows of the day. I am expecting a green close on Thursday.
BLOG does NOT give buy or sell.
Saleem
Indices down .16% to .23%.......
Fed statement outlines the following :
- Tapering reduced by another $10 Billion to $55 Billion
- Rate hike not tied to rate of unemployment
- Growth slowed due to winter
S&P 500 @ 1869.61, high 1874.14, low 1863.27
Internals are negative
Oil UP 25 cents
Gold Down $26.80
Canadian $ Down 1.02 cent @ 87.64..Canadian Central Bank made statement that interest rate will remain lower & GDP growth to be lower than before. Finance Minister tendered his resignation for personal reason which market is not happy, he was well respected.
VIX Down .96% @ 14.80
In my portfolio
Bought EGO @ $6.69
Portfolio EGO KOG LULU MU TSL
Most stocks are down
@ 2.23 following are green :
KOG LULU TSL BBRY LNKD NFLX KORS
AAPL CSIQ LEN CMG FFIV SPWR C
SNDK SBUX X STLD MS TRLA Z
GS MLNX.......
BLOG does NOT give buy or sell.
Saleem
- Tapering reduced by another $10 Billion to $55 Billion
- Rate hike not tied to rate of unemployment
- Growth slowed due to winter
S&P 500 @ 1869.61, high 1874.14, low 1863.27
Internals are negative
Oil UP 25 cents
Gold Down $26.80
Canadian $ Down 1.02 cent @ 87.64..Canadian Central Bank made statement that interest rate will remain lower & GDP growth to be lower than before. Finance Minister tendered his resignation for personal reason which market is not happy, he was well respected.
VIX Down .96% @ 14.80
In my portfolio
Bought EGO @ $6.69
Portfolio EGO KOG LULU MU TSL
Most stocks are down
@ 2.23 following are green :
KOG LULU TSL BBRY LNKD NFLX KORS
AAPL CSIQ LEN CMG FFIV SPWR C
SNDK SBUX X STLD MS TRLA Z
GS MLNX.......
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 18, 2014
Indices closed UP .55% to 1.25%....NICE !!!!
TAPE was strong today & indices closed UP.
S&P 500 @ 1872.25, high 1873.76
RSI @ 59.62
CMF @ 0.045
Internals were :
UP volume led by 4.11 to 1 in NYSE & 4.24 to 1 in Nasdaq
Advancing stocks led by 3.32 to 1 in NYSE & 3.28 to 1 in Nasdaq
Net new 52 wk highs were leading by 125 in NYSE & 98 in Nasdaq
VIX Down 7.16% @ 14.52
Oil @ $99.70
Gold @ $1359.00
Stocks which were UP 2% or more included KOG LULU MU TSL
LNKD TSLA JKS CSIQYNDX CRUS LRCX SNDK FNSR
SSRI CMG SPLK X CSOD TRLA Z MLNX.....
AH ER : SCTY Down 2.44%, ORCL Down 3.5%,
RENN Down 8.49%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE confirmed this rally & internals were strong, volume also was better than yesterday. Any weak open needs to be bought as we are on our way to making new highs. Jimmy the Cramer was doing "Monday morning Quarter backing" tonight & proved his sell sell call was totally uncalled for @ low, with his dozen books he should know better or refrain from talking opposite of his calls.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1872.25, high 1873.76
RSI @ 59.62
CMF @ 0.045
Internals were :
UP volume led by 4.11 to 1 in NYSE & 4.24 to 1 in Nasdaq
Advancing stocks led by 3.32 to 1 in NYSE & 3.28 to 1 in Nasdaq
Net new 52 wk highs were leading by 125 in NYSE & 98 in Nasdaq
VIX Down 7.16% @ 14.52
Oil @ $99.70
Gold @ $1359.00
Stocks which were UP 2% or more included KOG LULU MU TSL
LNKD TSLA JKS CSIQYNDX CRUS LRCX SNDK FNSR
SSRI CMG SPLK X CSOD TRLA Z MLNX.....
AH ER : SCTY Down 2.44%, ORCL Down 3.5%,
RENN Down 8.49%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE confirmed this rally & internals were strong, volume also was better than yesterday. Any weak open needs to be bought as we are on our way to making new highs. Jimmy the Cramer was doing "Monday morning Quarter backing" tonight & proved his sell sell call was totally uncalled for @ low, with his dozen books he should know better or refrain from talking opposite of his calls.
BLOG does NOT give buy or sell.
Saleem
Indices UP .64% to 1.18%....NICE !!!!
TAPE is confirming a new uptrend as all indices are green & making higher highs.
S&P 500 @ 1871.91, high 1873.53
Internals are positive by 3 to 1...very strong technical picture.
Oil UP $1.62
Gold Down $12.90
Canadian $ Down 84 tick @ 88.65
VIX Down 8.76% @ 14.27
Portfolio KOG LULU MU TSL
Most stocks are UP
@ 2.09 following are red :
EGO JCP NFLX KORS LVS TWTR SINA SU
HMY MCD ABX SLW GG AEM WLT AGU
LVS .....
BLOG does NOT give buy or sell.
Saleem
Monday, March 17, 2014
Indices closed UP .81% to 1.13%.....NICE !!!!
Indices closed UP in all indices.
S&P 500 @ 1858.83, high 1862.30
RSI @ 55.17
CMF @ 0.035
Internals were :
UP volume led by 3.48 to 1 in NYSE & 2.01 to 1 in Nasdaq
Advancing stocks led by 2.68 to 1 in NYSE & 1.75 to 1 in Nasdaq
Net new 52 wk highs were leading by 91 in NYSE & 98 in Nasdaq
VIX Down 12.23% @ 15.64
Oil @ $98.08
Gold @ $1372.90
Canadian $ UP 35 tick @ 89.48
Portfolio KOG LULU MU TSL
Stocks which were UP 1% or more included KOG LULU TSL
OTEX EXPE YHOO MA FB BIDU TSLA PCLN GOOG
JKS FSLR CSIQ INVN LRCX SNDK BRCM C SQM
SWIR PANW GMCR SPLK CCJ V WLT TRLA Z
WYNN LVS TRIP YELP MLNX SINA EBAY
FFIV....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE staged an oversold bounce on low volume. We need to close UP again to establish a change in direction. TAPE has been difficult for most & China is playing a major role in this malaise as they are slowing down in their GDP growth. Watch TAPE for direction in stocks instead of overall market which may remain sloppy.
BLOG does NOT give buy or sell.
PS...was busy liquidating physical gold this AM, came back later than expected @ 3.15 PM thus missed my afternoon BLOG.
Saleem
S&P 500 @ 1858.83, high 1862.30
RSI @ 55.17
CMF @ 0.035
Internals were :
UP volume led by 3.48 to 1 in NYSE & 2.01 to 1 in Nasdaq
Advancing stocks led by 2.68 to 1 in NYSE & 1.75 to 1 in Nasdaq
Net new 52 wk highs were leading by 91 in NYSE & 98 in Nasdaq
VIX Down 12.23% @ 15.64
Oil @ $98.08
Gold @ $1372.90
Canadian $ UP 35 tick @ 89.48
Portfolio KOG LULU MU TSL
Stocks which were UP 1% or more included KOG LULU TSL
OTEX EXPE YHOO MA FB BIDU TSLA PCLN GOOG
JKS FSLR CSIQ INVN LRCX SNDK BRCM C SQM
SWIR PANW GMCR SPLK CCJ V WLT TRLA Z
WYNN LVS TRIP YELP MLNX SINA EBAY
FFIV....
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE staged an oversold bounce on low volume. We need to close UP again to establish a change in direction. TAPE has been difficult for most & China is playing a major role in this malaise as they are slowing down in their GDP growth. Watch TAPE for direction in stocks instead of overall market which may remain sloppy.
BLOG does NOT give buy or sell.
PS...was busy liquidating physical gold this AM, came back later than expected @ 3.15 PM thus missed my afternoon BLOG.
Saleem
Sunday, March 16, 2014
Negativity about markets piling up ?
Investors & traders are fixated on the following negatives :
- Impact from Crimea voting.
-Chinese slowdown
-VIX surging
-Oil slumping
-Gold surging
-High volume selling in indices
-Indices breaching key technical levels
-US Dollar slumping
-Copper @ multi-year lows
-Bonds UP
-Fed interest rate decision on Wed
-Option Expiry on Friday
-Upcoming Chinese Data
-Where the hell is Malaysian Flight 370
- Technicians bracing for downward move in all indices......
-Bulls @ 55.1% & Bears @ 17.4%...which technicians feel is too frothy.
In my 40++ year of trading i cannot recall so many things going in the wrong direction......
BUT the real question is ?
WHY are we not down more when all of the above is known to everyone & has been playing out for weeks & months.......?
My conclusion is, that above issues has impacted indices and they are in the process of discounting or anticipating all of the above issues......remember stock market looks ahead 6 months or to the future immediately ahead.......
Is it possible that all of the above MAY reverse very soon?
TAPE action on Friday was leaning towards issues being discounted or in the process of reversing ahead.
GOLD did not close @ high the day which was $1388?
Indices did make lower lows & lower highs but we did not close near absolute low of the day...
Surprisingly market internals were mixed not negative.......
VIX did not close @ high of the day
Net new 52 wk highs were still making new highs on Friday....
Near lows, it is important to pay attention to any divergence
My conclusion is, that there is no long term negatives in the market & we are getting ready to find support & move UP as early as Monday.
Good luck with your own conclusions about TAPE & market direction.
BLOG does NOT give buy or sell.
Saleem
- Impact from Crimea voting.
-Chinese slowdown
-VIX surging
-Oil slumping
-Gold surging
-High volume selling in indices
-Indices breaching key technical levels
-US Dollar slumping
-Copper @ multi-year lows
-Bonds UP
-Fed interest rate decision on Wed
-Option Expiry on Friday
-Upcoming Chinese Data
-Where the hell is Malaysian Flight 370
- Technicians bracing for downward move in all indices......
-Bulls @ 55.1% & Bears @ 17.4%...which technicians feel is too frothy.
In my 40++ year of trading i cannot recall so many things going in the wrong direction......
BUT the real question is ?
WHY are we not down more when all of the above is known to everyone & has been playing out for weeks & months.......?
My conclusion is, that above issues has impacted indices and they are in the process of discounting or anticipating all of the above issues......remember stock market looks ahead 6 months or to the future immediately ahead.......
Is it possible that all of the above MAY reverse very soon?
TAPE action on Friday was leaning towards issues being discounted or in the process of reversing ahead.
GOLD did not close @ high the day which was $1388?
Indices did make lower lows & lower highs but we did not close near absolute low of the day...
Surprisingly market internals were mixed not negative.......
VIX did not close @ high of the day
Net new 52 wk highs were still making new highs on Friday....
Near lows, it is important to pay attention to any divergence
My conclusion is, that there is no long term negatives in the market & we are getting ready to find support & move UP as early as Monday.
Good luck with your own conclusions about TAPE & market direction.
BLOG does NOT give buy or sell.
Saleem
Friday, March 14, 2014
Indices closed down .27% to .35%......
Indices were under mild selling as most traders are waiting for Crimea vote which is a foregone conclusion.
I am sure many were surprised @ TAPE resiliency today, this was the weekend before Crimea. When stocks do not go down as much as common wisdom has concluded then pay attention. I firmly believe that yesterday was "panic selling" which discounted all the sanctions which is going to be placed by Western powers.
S&P 500 @ 1841.13, low 1839.57, high 1852.44...50 DMA @ 1828.84 which may hold on a closing basis.
RSI @ 48.18
CMF @ 0.038..still positive
Internals were :
Down volume led by 1.14 to 1 in NYSE & 1.05 to 1 in Nasdaq
Advancing stocks led by 1.36 to 1 in NYSE & 1.16 to 1 in Nasdaq......extremely positive internals..
Net new 52 wk highs were leading by 13 in NYSE & 41 in Nasdaq...another positive @ the end of this week...
VIX UP 9.86% @ 17.82...high was 18.22 as expected..did not close @ high...another positive.....
Oil @ $98.89
Gold @ $1379.00....another YTD high
Canadian $ Down 30 tick @ 89.13
In my portfolio :
Sold EGO @ $7.30
Bought LULU @ $47.11
Here is my weighting :
MU 32.85%
KOG 28.79%
LULU 24.43%
TSL 13.93%
Exposure 145%
Stocks which closed green included KOG
BBRY EXPE YHOO COH AMZN
M LUV KORS SSRI DNKN
FSLR YNDX CRUS AMCC
CIEN JDSU FNSR HMY
AG SWIR GRPN PANW
GMCR MCD ABX GG
SLW WUBA CSOD
TRLA Z AGU
MLNX
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
I am sure many were surprised @ TAPE resiliency today, this was the weekend before Crimea. When stocks do not go down as much as common wisdom has concluded then pay attention. I firmly believe that yesterday was "panic selling" which discounted all the sanctions which is going to be placed by Western powers.
S&P 500 @ 1841.13, low 1839.57, high 1852.44...50 DMA @ 1828.84 which may hold on a closing basis.
RSI @ 48.18
CMF @ 0.038..still positive
Internals were :
Down volume led by 1.14 to 1 in NYSE & 1.05 to 1 in Nasdaq
Advancing stocks led by 1.36 to 1 in NYSE & 1.16 to 1 in Nasdaq......extremely positive internals..
Net new 52 wk highs were leading by 13 in NYSE & 41 in Nasdaq...another positive @ the end of this week...
VIX UP 9.86% @ 17.82...high was 18.22 as expected..did not close @ high...another positive.....
Oil @ $98.89
Gold @ $1379.00....another YTD high
Canadian $ Down 30 tick @ 89.13
In my portfolio :
Sold EGO @ $7.30
Bought LULU @ $47.11
Here is my weighting :
MU 32.85%
KOG 28.79%
LULU 24.43%
TSL 13.93%
Exposure 145%
Stocks which closed green included KOG
BBRY EXPE YHOO COH AMZN
M LUV KORS SSRI DNKN
FSLR YNDX CRUS AMCC
CIEN JDSU FNSR HMY
AG SWIR GRPN PANW
GMCR MCD ABX GG
SLW WUBA CSOD
TRLA Z AGU
MLNX
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, March 13, 2014
Indices closed down 1.17% to 1.46%.....
TAPE was under selling pressure & indices closed near low of the day.
S&P 500 @ 1846.34, low 1841.86, high 1874.40
RSI @ 50.32
CMF @ 0.124
Internals were :
Down volume led by 5.28 to 1 in NYSE & 3.98 to 1 in Nasdaq
Declining stocks led by 2.15 to 1 in NYSE & 3.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 27 in NYSE & 51 in Nasdaq
VIX UP 12.09% @ 16.22
Oil @ $98.20
Gold @ $1372.40
AH ER : ULTA UP 7.59%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE went down on China slowdown & Ukraine voting on high volume. Dow Jones closed below 50 DMA. IBD tonight is changing its market outlook to "uptrend under pressure". Jimmy the Cramer is panicking & saying dont buy dont buy. I am of the opposite view that this selling is overdone & excellent buying opportunity has emerged. Buying on Friday will be a "good thing". Many sectors held up well in this carnage, Gold & Gold stocks made new YTD highs. Airlines & Financials held up well & are above 50 DMA.
Here are some stocks which are below 50 DMA AAPL AMZN BIDU YHOO CRM MA V BBRY FSLR TSL JKS CSIQ SPWR.
Here are few stocks below 200 DMA CSCO YNDX SINA NTES.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1846.34, low 1841.86, high 1874.40
RSI @ 50.32
CMF @ 0.124
Internals were :
Down volume led by 5.28 to 1 in NYSE & 3.98 to 1 in Nasdaq
Declining stocks led by 2.15 to 1 in NYSE & 3.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 27 in NYSE & 51 in Nasdaq
VIX UP 12.09% @ 16.22
Oil @ $98.20
Gold @ $1372.40
AH ER : ULTA UP 7.59%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE went down on China slowdown & Ukraine voting on high volume. Dow Jones closed below 50 DMA. IBD tonight is changing its market outlook to "uptrend under pressure". Jimmy the Cramer is panicking & saying dont buy dont buy. I am of the opposite view that this selling is overdone & excellent buying opportunity has emerged. Buying on Friday will be a "good thing". Many sectors held up well in this carnage, Gold & Gold stocks made new YTD highs. Airlines & Financials held up well & are above 50 DMA.
Here are some stocks which are below 50 DMA AAPL AMZN BIDU YHOO CRM MA V BBRY FSLR TSL JKS CSIQ SPWR.
Here are few stocks below 200 DMA CSCO YNDX SINA NTES.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.13% to 1.53%......
TAPE is reacting to below expectations data from China & ongoing reaction to Ukraine vote on Sunday.
S&P 500 @ 1847.41, low 1845.81......S&P 500 has violated 10 day & 20 day moving averages, close below 1845 can take it down to 50 DMA in a hurry.....
Internals are negative by 3 to 1
Oil UP 12 cents
Gold UP $1.60
Canadian $ UP 61 tick @ 89.43
VIX UP 11.40% @ 16.12.....can go to 18 easily.
Portfolio EGO KOG MU TSL
Most stocks are down
@ 2.22 following are green :
EGO ( @ $7.34 its a breakout with a target of $8.16),
SSRI AMZN INVN AG HMY ABX SLW GG
AEM CCJ ......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1847.41, low 1845.81......S&P 500 has violated 10 day & 20 day moving averages, close below 1845 can take it down to 50 DMA in a hurry.....
Internals are negative by 3 to 1
Oil UP 12 cents
Gold UP $1.60
Canadian $ UP 61 tick @ 89.43
VIX UP 11.40% @ 16.12.....can go to 18 easily.
Portfolio EGO KOG MU TSL
Most stocks are down
@ 2.22 following are green :
EGO ( @ $7.34 its a breakout with a target of $8.16),
SSRI AMZN INVN AG HMY ABX SLW GG
AEM CCJ ......
BLOG does NOT give buy or sell.
Saleem
Wednesday, March 12, 2014
Indices closed mixed......
Indices fought its way to closed mixed.
S&P 500 @ 1868.20, low 1854.38, high 1868.38
RSI @ 60.88
CMF @ 0.145
Internals were :
UP volume led by 1.14 to 1 in NYSE & 1.74 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & 1.31 to 1 in Nasdaq
Net new 52 wk highs were leading by 15 in NYSE & 38 in Nasdaq
VIX Down 2.23% @ 14.47
Oil @ $97.99
Gold @ $1370.50
AH ER : KKD UP 10.16%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE is zig zagging on a daily basis, one day impressive then slumps & now another impressive close today. There is too many cross-current in the world which is causing market uncertainty. Gold on the other hand closed @ its highest level since September 9th 2013, AH it went UP to $1374.90. China imported 80% of all the Gold produced in 2013, it is the largest importer of Gold ahead of India. There is a strong belief that India will ease up import of Gold after their upcoming election,Ukraine is in the card & there is rumbling of separation in Quebec, Gold cannot ask for more things to support its UP move.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1868.20, low 1854.38, high 1868.38
RSI @ 60.88
CMF @ 0.145
Internals were :
UP volume led by 1.14 to 1 in NYSE & 1.74 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & 1.31 to 1 in Nasdaq
Net new 52 wk highs were leading by 15 in NYSE & 38 in Nasdaq
VIX Down 2.23% @ 14.47
Oil @ $97.99
Gold @ $1370.50
AH ER : KKD UP 10.16%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE is zig zagging on a daily basis, one day impressive then slumps & now another impressive close today. There is too many cross-current in the world which is causing market uncertainty. Gold on the other hand closed @ its highest level since September 9th 2013, AH it went UP to $1374.90. China imported 80% of all the Gold produced in 2013, it is the largest importer of Gold ahead of India. There is a strong belief that India will ease up import of Gold after their upcoming election,Ukraine is in the card & there is rumbling of separation in Quebec, Gold cannot ask for more things to support its UP move.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
TAPE is trying to fight negativity since open, so far Nasdaq has made into green & staying there.
S&P 500 @ 1865.29, low 1854.38, high 1868.35
Internals are mixed....
Oil Down $2.17
Gold UP $21.10
Canadian $ Down 6 tick @ 88.91
VIX Down 1.28% @ 14.61
Portfolio EGO KOG MU TSL
Most stocks are down
@ 2.02 following are green :
EGO KOG MU ZNGA EXPE LNKD AMZN WUBA
JCP FB TSLA PCLN GOOG JKS LVS WLT Z
TWTR SSRI CMG EBAY GRPN TRLA
ARUN RVBD CRUS LRCX TRIP
SNDK BRCM CIEN AG YELP
JDSU FNSR HMY
SWIR GMCR
SPLK ABX
SLW GG
AEM....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1865.29, low 1854.38, high 1868.35
Internals are mixed....
Oil Down $2.17
Gold UP $21.10
Canadian $ Down 6 tick @ 88.91
VIX Down 1.28% @ 14.61
Portfolio EGO KOG MU TSL
Most stocks are down
@ 2.02 following are green :
EGO KOG MU ZNGA EXPE LNKD AMZN WUBA
JCP FB TSLA PCLN GOOG JKS LVS WLT Z
TWTR SSRI CMG EBAY GRPN TRLA
ARUN RVBD CRUS LRCX TRIP
SNDK BRCM CIEN AG YELP
JDSU FNSR HMY
SWIR GMCR
SPLK ABX
SLW GG
AEM....
BLOG does NOT give buy or sell.
Saleem
Tuesday, March 11, 2014
Indices closed down .41% to .63%.....
Indices reversed & closed down.
S&P 500 @ 1867.63, low 1863.88, high 1882.35
RSI @ 60.68
CMF @ 0.135
Internals were :
Down volume led by 2.56 to 1 in NYSE & 3.14 to 1 in Nasdaq
Declining stocks led by 2.07 to 1 in NYSE & 2.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 110 in Nasdaq
VIX UP 4.23% @ 14.80
Oil @ $100.03
Gold @ $1346.70
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP $10.90 @ $1357.60...this a new 5 month high after touching $1355 on March 3rd 2014.
About market,TAPE was extremely disappointing as it closed near low of the day on high volume, almost opposite TAPE action today. Looks like we may be heading to test support as we made a lower low today. Based on technicals 50 DMA may be the first support in S&P 500 which is @ 1828 area. It may be prudent to have some Gold & Silver exposure. Crimea vote is on Sunday & it looks like a done deal which may further prop up Gold.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1867.63, low 1863.88, high 1882.35
RSI @ 60.68
CMF @ 0.135
Internals were :
Down volume led by 2.56 to 1 in NYSE & 3.14 to 1 in Nasdaq
Declining stocks led by 2.07 to 1 in NYSE & 2.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & 110 in Nasdaq
VIX UP 4.23% @ 14.80
Oil @ $100.03
Gold @ $1346.70
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP $10.90 @ $1357.60...this a new 5 month high after touching $1355 on March 3rd 2014.
About market,TAPE was extremely disappointing as it closed near low of the day on high volume, almost opposite TAPE action today. Looks like we may be heading to test support as we made a lower low today. Based on technicals 50 DMA may be the first support in S&P 500 which is @ 1828 area. It may be prudent to have some Gold & Silver exposure. Crimea vote is on Sunday & it looks like a done deal which may further prop up Gold.
BLOG does NOT give buy or sell.
Saleem
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