Indices fought negativity to erase majority of losses.
S&P 500 @ 1957.22, 1944.69, high 1959.89
RSI @ 63.40
CMF @ 0.524
Internals were :
Down volume led by 1.02 to 1 in NYSE & .99 to 1 in Nasdaq
Declining stocks led by .89 to 1 in NYSE & 1.06 to 1 in Nasdaq
Net new 52 wk highs were leading by 124 in NYSE & 14 in Nasdaq
VIX UP .35% @ 11.63
Oil @ $105.84
Gold @ $1317.00
AH news ....DD Down 2.07%, NKE UP 3.03%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE gave its own verdict on Mr Bullards comment by closing almost unchanged, TAPE also ignored weak consumer spending as it could be one off number. TAPE is giving clear signal that it sees economic progress which can handle some challenges. Stay with your better ideas & this TAPE can take you farther than what you think.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
Sold DRYS @ 3.24.
The $BDI rates are so depressed that they are well below last year's levels now. This might be a candidate for rebound, but I think I have time to wait for a stronger trend to develop.
Bought more DHI @ 23.85.
Despite sluggish order trends right now, the homebuilders are making great profits. With rates continuing to stay low (or go lower), and increasing confidence in the job market, I wonder if we'll see a nice second half pop. There is definitely enough bearish sentiment around to propel these stocks nicely higher if the sentiment does turn.
Stocktrader
Hi Stocktrader,
Good luck with more DHI....
Based on seasonality Q3 is good for housing.
Saleem
Hey Saleem,
DG seems like a steal here. With a retiring CEO, a merger with FDO seems even more likely?
Stocktrader
Hey Saleem,
Sold GS @ 167.01 to buy DG @ 57.86.
I already have GS-type exposure having MS also, and I wanted to do some speculation in DG.
Stocktrader
Hi Stocktrader,
Good luck with DG.
Saleem
Hey Saleem,
Hmm...already feeling like I shouldn't have played in a strange pool...I guess we'll see what happens.
Stocktrader
Hi Stocktrader,
Looks like selling is being met by buying....volume is 13+ million already.
Hopefully DG does not test $56 area.
Saleem
Hey Saleem,
Sold SPLK @ 54.625.
I think the risk/reward has shifted a lot in the last month and wanted to take profits here and see what happens next.
Stocktrader
Hi Stocktrader,
Good move in booking profit.
Saleem
Hey Saleem,
I would actually sell PFPT today too but I'm restricted for one more day. At least there's always a takeover chance with PFPT over the weekend.
Stocktrader
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