Indices closed near high of the day after release of Fed minutes.
S&P 500 @ 1872.18, high 1872.43, low 1852.38
RSI @ 53.96
CMF @ -0.004
Internals were :
UP volume led by 2.67 to 1 in NYSE & 5.90 to 1 in Nasdaq
Advancing stocks led by 2.79 to 1 in NYSE & 3.01 to 1 in Nasdaq
Net new 52 wk highs were leading by 71 in NYSE & 14 in Nasdaq
VIX Down 7.19% @ 13.82
Oil @ $103.60
Gold @ $1305.90
Stocks which were UP 2% or more included WUBA LULU RAD
SWIR OTEX YY YELP SPLK EXPE YHOO LNKD MA
FB BIDU PCLN KOG SPWR JKS TSL CSIQ
ONVO INVN ARUN LRCX AMCC
CIEN FNSR AG SINA FFIV V
PANW GMCR X GIB MS
CSOD MGA TRLA Z
WYNN MLNX.....
AH ER BBBY Down 5.67%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong going into Fed minutes but took off knowing that there was no surprise. Most pundits are excited about today's strong rally & giving all kinds of explanation for this move. In my opinion, stocks were deeply oversold & needed to be bought before today's jump. With today's jump many stocks are @ fair value already & may not move too much from hereon. Earnings will be a wait & see game which is getting underway.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
I may have been too hasty in dumping those cyclical. What a great jobless claims number!
Stocktrader
Hi Stocktrader,
You can always buy it back....
Saleem
Hey Saleem,
Yes. I'm trying not to make any hasty moves, but I definitely need to do some things to adjust the portfolio today.
Stocktrader
Hi Stocktrader,
Good luck with your pick.
Saleem
Hey Saleem,
Sold YELP @ 69.87. More of those to come today.
Stocktrader
Hey Saleem,
I couldn't figure out what else to do, so I bought some TZA protection @ 16.96.
Stocktrader
Post a Comment