Another day & another loss for Nasdaq, only Dow closed green.
S&P 500 @ 1875.63, low 1870.05, high 1889.07
RSI @ 52.85
CMF @ 0.137
Internals were :
Down volume led by 1.45 to 1 in NYSE & 1.71 to 1 in Nasdaq
Declining stocks led by 1.41 to 1 in NYSE & 2.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 101 in NYSE & lows were leading by 82
VIX UP .22% @ 13.43
Oil @ $100.26
Gold @ $1287.70
In my portfolio, Sold KOG @ $12.01, Bought MU @ $26.84
Here is my weighting after close :
LULU 32.57%, WUBA 22.52%, SWIR 18.06%,
MU 14.51%, OWW 6.56%, GRPN 5.78%
Exposure 179%.....
AH ER : NVDA Down 1.62%, SYMC UP 2.83%, GPS UP 4.64%....
AH Futures Down
AH Asian markets Mixed
AH Oil & Gold UP
About market, TAPE continues to be sloppy, Nasdaq down 3 day's in a row. Friday could be another sloppy day due to weekly option expiry, high beta may show weakness. On the positive side, we have been weak for many days so we are ready for a "technical bounce".
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
To some degree, I think DATA is a key to this high beta market. The reported quarter and guidance were amazing. If DATA can't go higher, none of them can.
Stocktrader
Hi Stocktrader,
I think high beta have found support.
Saleem
Hey Saleem,
Yes, I think they have also, but I still think watching DATA is important for directional indicators.
Stocktrader
Hey Saleem,
I actually forgot about WLH until this morning, but results were good and the conference call was optimistic (continuing the theme of many homebuilder calls versus some of the data we've seen).
Stocktrader
Hi Stocktrader,
WLH report is a welcome change from the gloom we have been hearing.
Saleem
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