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
7 comments:
Hey Saleem,
Copper just tanked $0.04 in 15 minutes to hit a new 52-wk low @ 2.885.
Stocktrader
Hi Stocktrader,
YES..copper is reflecting Chinese slowdown.....
Saleem
Hi Stocktrader,
Bought EGO @ $6.69
Saleem
Hey Saleem,
Wow. It dropped a lot after you sold. Well played!
Stocktrader
Hi Stocktrader,
Sometimes it is good to grab when its lower.....Gold is down another $16.50 today.....
Saleem
Hey Saleem,
Copper has completely reversed from that initial selloff.
We are on the verge of some kind of inflection point I think. The reaction in the next two days after the Fed meeting should be very telling.
Stocktrader
Hi Stocktrader,
Copper has come down too far & is oversold big time.
Saleem
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