Indices closed mixed on weak data & Fed minutes.
S&P 500 @ 1873.81, low 1871.11, high 1876.53
RSI @ 65.31
CMF @ 0.303
Internals were :
UP volume led by 1.20 to 1 in NYSE & 1.21 to 1 in Nasdaq
Declining stocks led by 1.06 to 1 in NYSE & 1.07 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 165 in Nasdaq
VIX Down 1.49% @ 13.89
Oil @ $101.45
Gold @ $1340.30
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE rested today & fought negativity from Data in US. Indices were close to unchanged level which is a sign of ongoing strength, S&P 500 made a new intraday all time high. Nomura Securities is bullish on Gold now & has bumped its target for 2014 & 2015 by $200 more per oz, 2014 target $1335 which has been exceeded already on a closing basis & $1355 was on March 3rd, for 2015 they are looking for $1460 which could be a done deal for 2014. Financial stocks were strong for two days now which is a good thing for the market.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hey Saleem,
An interesting note out this morning about a stock I've been thinking about since the weekend (as I attempted to figure out any industrials I knew more than just a ticker of):
05:59 EDT AXLL
theflyonthewall.com: Axiall upgraded to Buy from Neutral at Goldman
Goldman upgraded Axiall based on valuation and said shares reflect several bad news items. The firm sees catalysts that include higher ECU margins, lower ethylene prices, housing price starts, and buybacks. Price target raised to $60 from $45. :theflyonthewall.com
I had hesitated because I was short on available cash, and was a little concerned that the stock couldn't break its moving averages the last two days during the rally. Now that I can actually sell SPLK and WUBA today, I'll probably make this switch even though it'll gap up $2.
Stocktrader
Hi Stocktrader,
I knew about AXLL as you have talked about it in the past.
Good luck with swap.
Saleem
Hey Saleem,
Argh. Missed the opening print by $0.08 on SPLK, had 92.85 offer and it opened 92.78.
Stocktrader
Hey Saleem,
Oh so frustrating today...
Sold SPLK @ 91.505.
Don't know what to do with AXLL--I would have taken anything maybe even $2.50 up but now it's gone. The SPLK problem cost me real money and then opportunity on AXLL today.
Stocktrader
Hi Stocktrader,
Focus on your next move.....
Saleem
Hey Saleem,
Sold WUBA @ 52.319.
It hurts to sell this one because the chart actually looks great still, but @ 100X this year's earnings and sentiment shifting to cyclicals, I feel it may rest also.
Stocktrader
Hi Stocktrader,
we all have to follow our own instinct about sectors.
Now you have motherload of $$$ to buy anything your heart desires.
Good luck !
Saleem
Hey Saleem,
Sold CSOD @ 58.801.
I think the chart is challenged and sentiment will be shifting away from these kinds of stocks.
I'm still waiting to buy AXLL. I'll be in before close. I'm hoping for at least a little selloff at the end of day on payrolls fears.
Stocktrader
Hi Stocktrader,
You are making strategic moves today....
Good luck with AXLL....looking super strong....
Saleem
Hey Saleem,
Bought AXLL @ 46.17.
Stocktrader
Hey Saleem,
Bought DRYS @ 4.04.
Stocktrader
Hi Stocktrader,
Good luck with DRYS & AXLL....
Saleem
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