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
at

14 comments:

  1. stocktrader_1996March 25, 2014 at 6:45 AM

    Hey Saleem,

    Bought YELP @ 80.00.

    Stocktrader

    ReplyDelete
  2. Stocks100March 25, 2014 at 6:59 AM

    Hi Stocktrader,

    Good luck with YELP.

    Saleem

    ReplyDelete
  3. Stocks100March 25, 2014 at 7:08 AM

    Hi Stocktrader,

    Sold TSL @ $14.76

    Bought LULU @ $48.64

    Saleem

    ReplyDelete
  4. Stocks100March 25, 2014 at 7:12 AM

    Hi Stocktrader,

    Added 75% LULU...

    Saleem

    ReplyDelete
  5. stocktrader_1996March 25, 2014 at 7:24 AM

    Hey Saleem,

    Good luck with the additional LULU. Expectations are quite low going into earnings.

    It helps that we are 2 hours time difference from our usual. I can do some stock stuff in the morning while everyone is still sleeping.

    Stocktrader

    ReplyDelete
  6. Stocks100March 25, 2014 at 7:27 AM

    Hi Stocktrader,

    Yes those 2 hours can add up to quality analysis.

    YES..LULU is reporting before open on Thursday...hopefully i am not going to jinx its earning report.

    Saleem

    ReplyDelete
  7. stocktrader_1996March 25, 2014 at 8:11 AM

    Hey Saleem,

    Added to DATA @ 77.467.

    Stocktrader

    ReplyDelete
  8. Stocks100March 25, 2014 at 8:30 AM

    Hi Stocktrader,

    Good luck with Additional DATA.

    Saleem

    ReplyDelete
  9. stocktrader_1996March 25, 2014 at 8:30 AM

    Hey Saleem,

    DATA is probably my #1 pick in the software space after these large declines. Their Q4 was unbelievable and their momentum should continue as I think their products are perfectly positioned in this environment. The secondary they just very recently did is probably weighing extra on the stock creating a larger downside move than should be expected even as their peers declined also.

    Stocktrader

    ReplyDelete
  10. Stocks100March 25, 2014 at 8:48 AM

    Hi Stocktrader,

    When sentiment turns positive for high beta stocks DATA will do well.

    Saleem

    ReplyDelete
  11. stocktrader_1996March 25, 2014 at 8:52 AM

    Hey Saleem,

    Bought NOW @ 58.567.

    Stocktrader

    ReplyDelete
  12. Stocks100March 25, 2014 at 9:05 AM

    Hi Stocktrader,

    Good luck with NOW.

    Saleem

    ReplyDelete
  13. stocktrader_1996March 25, 2014 at 9:06 AM

    Hey Saleem,

    I have one batch of cash left. I put an order to buy SPLK @ 72.07 and have to leave for the day. Hopefully these high fliers bottom today--they are so oversold.

    Stocktrader

    ReplyDelete
  14. Stocks100March 25, 2014 at 9:13 AM

    Hi Stocktrader,

    You are only 69 cents away from getting a fill...it mat take SPLK another 5 mts to get there.

    Saleem

    ReplyDelete