Indices closed lower after hitting new all time highs in Dow & S&P 500.
S&P 500 @ 1888.77, low 1882.65, high 1893.80
RSI @ 61.73
CMF @ 0.063
Internals were :
Down volume led by 1.35 to 1 in NYSE & 2.10 to 1 in Nasdaq
Declining stocks led by 1.44 to 1 in NYSE & 2.40 to 1 in Nasdaq
Net new 52 wk highs were leading by 141 in NYSE & 76 in Nasdaq
VIX UP 2.14% @ 13.37
Oil @ $100.29
Gold @ $1284.60
In my portfolio :
Sold EGO @ $5.74
Bought LULU @ $53.75
Portfolio WUBA LULU MU RAD
AH ER MU UP 1.46%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, It is all about jobs growth, expectations are 200K, my guess that we may see 225K job growth which will get this market going UP. High beta stocks took it on the chin again sporting 5 to 8% losses. Beside high beta stocks other sectors held up reasonably well. New highs were more than OK.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
BALT going crazy even though $BDI has been in freefall. I can't find anything yet.
Stocktrader
Hi Stocktrader,
YES..13% move must mean something is going on......
Saleem
Hey Saleem,
Maybe this is wishful thinking, but many of these cloud names could get bids into the weekend on short covering and oversold conditions. Too many of the small ones are takeover candidates to take the risk for shorts--I'm thinking PFPT and CSOD specifically here as it relates to my portfolio.
Stocktrader
Hi Stocktrader,
There is a shift which is happening in cloud sector...i have no idea why there is relentless selling & there seems to be very few buyers.....
All i can say Friday could be the day when lows are seen in this & many other sectors of tech....
Saleem
Hi Stocktrader,
Had to wait & wait till now on my bid for OWW @ $7.77.....finally got filled.
Saleem
Hey Saleem,
Good luck with OWW--another of the hard-hits.
Stocktrader
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