Indices closed near high of the day.
S&P 500 @ 1924.97, high 1925.88, low 1915.98
RSI @ 66.16
CMF @ 0.362 @ its highest point in last 6 months.
Internals were :
UP volume led by 1.14 to 1 in NYSE & .83 to 1 in Nasdaq
Declining stocks led by 1.11 to 1 in NYSE & 1.67 to 1 in Nasdaq
Net new 52 wk highs were leading by 190 in NYSE & by 43 in Nasdaq
VIX UP 1.58% @ 11.58
Oil @ $102.47
Gold @ $1244.00
AH ER KKD Down 10.21%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE continues its melt up by making new highs in S&P 500 & Dow. China HSBC final PMI came in @ 49.4 vs flash estimate of 49.7, this is another number which may be the low point in Chinese economic scene. I am expecting this rally to broaden out as laggard may come into play.
BLOG does NOT give buy or sell.
Saleem
Hey Saleem,
ReplyDeleteI was wrong about the car and airline numbers. Early reports out of Chrysler and Delta show strong numbers. I'll just have to be a buyer up here for AAL and GM...
Stocktrader
Hey Saleem,
ReplyDeleteGot 41.13 for AAL and 35.00 for GM.
Stocktrader
Hey Saleem,
ReplyDeleteThose have turned out to be great entries so far...sometimes it is right to get the first trade of the day :)
Stocktrader
Hey Saleem,
ReplyDeleteTrimmed SPLK @ 41.544 and sold CTRL @ 17.13.
Given the great numbers from traditional industries and stocks, I fear pressure on the software/internet stocks still, and therefore trimmed SPLK back some.
Based on learning more about the home ecosystems and CTRL's products, I don't have the confidence to hold this anymore. The area is being commoditized quickly, so there's a large chance for P/E contraction despite good growth metrics right now.
Stocktrader
Hey Saleem,
ReplyDeleteBought GS @ 160.36.
They appear to be expanding their business lines into other areas (including some of those working for MS right now). With an improving chart, I like the stock, and may pare back MS to even out the exposure.
Stocktrader
Hi Stocktrader,
ReplyDeleteGood luck with AAL,GM AND GS...
Saleem