Indices closed mixed but Dow & S&P 500 made another all time high.
S&P 500 @ 1897.45, 1902.17, low 1896.06
RSI @ 60.69
CMF @ 0.286
Internals were :
Down volume led by 1.11 to 1 in NYSE & 1.50 to 1 in Nasdaq
Declining stocks led by 1.23 to 1 in NYSE & 2.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 113 in NYSE & 19 in Nasdaq
VIX Down .82% @ 12.13
Oil @ $101.70
Gold @ $1294.80
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE continuing its march towards new all time highs in S&P 500 & Dow. Nasdaq continues its selling of high beta stocks again which is a disappointment. Internals were negative also. This is becoming a two sided market & one has to watch where money is put to work. Nasdaq may climb high beta wall of worries & keep moving higher slowly.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
Trimmed M @ 58.79 to raise some cash and after a good, but nothing special, quarter.
Stocktrader
Hi Stocktrader,
M Sales were challenged.
Good move in trimming.
Saleem
Hey Saleem,
My "DATA" indicator is finally flashing positive today, and outperforming every other beta stock I follow besides ZU. I think this finally bodes well--DATA had the best report of the whole group, and needs to be an outperformer for this to be real buying instead of just short covering.
Stocktrader
Hey Saleem,
Added to DATA @ 55.77 and YELP @ 55.75.
Stocktrader
Hi Stocktrader,
Good focus on DATA to give you the latest read on high beta stocks...
Good luck with YELP AND DATA.
Saleem
Hey Saleem,
Sold the rest of the M @ 57.685. They just don't have anything special and increasingly consumers are looking towards the internet and the individual brand sites to shop. I'm not sure there's as much a consumer tailwind towards a M as I thought--I'd rather be in an RL despite the investments they are making right now depressing earnings given that they are a lasting brand.
Stocktrader
Hi Stocktrader,
Retail is tough area to make money.
Good luck with the proceed.
Saleem
Hey Saleem,
Bought NOW @ 47.847.
Stocktrader
Hey Saleem,
Added to my housing exposure with some AXLL @ 43.627 and WLH @ 27.012. I'm 100% allocated now.
Stocktrader
Hi Stocktrader,
Good luck with WLH, AXLL, NOW..
Saleem
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