Monday, May 5, 2014

Indices closed UP .11% to .34%....NICE !!!!!

Indices closed green despite early sharp decline.

S&P 500 @ 1884.66, high 1885.51, low 1866.71

RSI @ 57.38

CMF @ 0.192

Internals were :

Down volume led by 1.32 to 1 in NYSE & .88 to 1 in Nasdaq

Declining stocks led by 1.03 to 1 in NYSE & 1.31 to 1 in Nasdaq

Net new 52 wk highs were leading by 56 in NYSE & new lows were leading by 39 in Nasdaq

VIX UP 2.94% @ 13.29

Oil @ $99.48

Gold @ $1309.30

AH ER : YY Down 2.15%, DATA UP 8.9%

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, despite Chinese poor stat & ongoing issue in Ukraine, TAPE ignored all that & kept its focus on ongoing improvement in US economy.Bears are not getting any break, while many famous pundits are extremely confused & talking gibberish in their analysis, TAPE is heading towards all time highs. Stay diversified & ignore talk about non issues.

BLOG does NOT give buy or sell.

Saleem

8 comments:

stocktrader_1996 said...

Hey Saleem,

I've got a standing offer for DATA @ 60.37 if it hits while I'm gone this morning. Good luck to me! I think that'd be a nice price--really I'd be willing to pay up to $62 without much hesitation. I'm hoping the TWTR problem this morning depresses these a little.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

Well, I got it. Let's see what happens now...

Stocktrader

Stocks100 said...

Hi Stocktrader,

Good luck with your Strategy for DATA...

Saleem

stocktrader_1996 said...

Hey Saleem,

I'll tell you what though, these fertilizer stocks are a constant struggle. I'm very late to the conference call, but most of the comments I've seen relate to how things "have to" get better in the future--seems like we're always waiting for that...

Stocktrader

Stocks100 said...

Hi Stocktrader

MOS has been tough to analyze.
Maybe it is time to deploy funds in other strong sector.

Saleem

stocktrader_1996 said...

Hey Saleem,

I am considering that now. I think the TWTR lockup expiration might mark a bottom for the group. I am tempted to reallocate there.

Stocktrader

stocktrader_1996 said...

Hey Saleem,

I think the yen weakness is weighing on the market right now. Suddenly, it's time to be careful if the carry trade unwinds again.

Stocktrader

Stocks100 said...

Hi Stocktrader,

Extremely surprised today....

So...It is not Ukraine...

What else is new...

YEN delight today?

Saleem