TAPE was strong & closed UP 3 day's in a row.
S&P 500 @ 1862.31, low 1846.01
RSI @ 52.37
CMF @ 0.041
Internals were :
UP volume led by 3.68 to 1 in NYSE & 4.40 to 1 in Nasdaq
Advancing stocks led by 3.88 to 1 in NYSE & 4.40 to 1 in Nasdaq
Net new 52 wk highs were leading by 88 in NYSE & 5 in Nasdaq
VIX Down 9.16% @ 14.18
Oil @ $103.76
Gold @ $1303.50
Stocks which were UP 2% or more included JKS PANW YELP
OTEX YY EXPE YHOO MA V AMZN TSLA PCLN
GOOGL LVS TSL CSIQ CMG YNDX ARUN
CIEN FNSR SBUX Z....
AH ER : AXP Down .92%, GOOG Down 3.15%
IBM Down 4.23%, SNDK UP 5.80%
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, Dow & S&P 500 closed @ absolute high point of the day, Nasdaq missed it by 5 tick that showed strength of this TAPE. We are looking @ ongoing UP move with some consolidation. Buying on any weakness should work.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
I am tempted to trim some of my AAL and buy some WUBA back. With WB performing so well after pricing/opening so poorly, I wonder if we'll get a big rush into beta/China/internet plays because it might seem like the coast is clear.
Stocktrader
Hi Stocktrader,
YES...that is a great thesis....
WB was maligned & opened below IPO...now it is UP only 30%...
I say go for it .....WUBA is almost ready to fly $$$$$$
Saleem
Hi Saleem,
What makes you bet on Orbitz?
Two other interesting gambles:
NUSMF (Nautilus Minerals - Deep Sea Mining)
PUGE (Puget Technologies - 3D printing)
Congrats on MU today. And nice on selling EGO.
Hi Western,
OWW is a profitable company & price is near bottom of its range.....those are two good reason to be in it.
Thanks for MU & EGO.......
As market has brought many stocks down...there are many opportunities for long term bet....
Good luck with your strategy.
Saleem
Wow, GRPN is rocketing.
And RAD & WUBA continues to rise.
You should be paid for these picks.
Hi Western,
Thanks for your compliment...which what i appreciate the most.
Saleem
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