Indices closed mixed but Nasdaq showed its strength until close.
S&P 500 @ 1960.23, low 1958.22, high 1964.24
RSI @ 64.37
CMF @ 0.475
Internals were :
UP volume led by 1.12 to 1 in NYSE & 1.59 to 1 in Nasdaq
Advancing stocks led by 1.52 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 247 in NYSE & 75 in Nasdaq
VIX UP 2.75% @ 11.57
Oil @ $105.37
Gold @ $1322.00
Stocks which were UP 1% or more included MU
GG YY YHOO LNKD BIDU AAPL AG
MRVL TSL JKS CSIQ SINA INVN
GTAT YNDX BSFT SNDK JCP
AMCC PANW SPLK STLD
ABX SLW AEM DATA
MS Z....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was stronger than headline numbers based on internals. Nasdaq made new high again since 2000. TAPE wants to go higher & in process of making series of new all time highs. It is important to show conviction & stay with your own theme, any hasty move generally backfires in a strong TAPE, I have learned this over & over, again & again.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hey Saleem,
Sold PFPT @ 38.542 to take profits.
Stocktrader
Hey Saleem,
Sold YELP @ 77.205 to take profits.
Something about these cloud/internet stocks tells me they are tired. Maybe I'm reading the low volume wrong, but it's nice to do some selling on a big up day.
Stocktrader
Hey Saleem,
Sold KOG @ 14.412 to take profits. This specific chart looks toppy here, and the energy stocks generally are overbought. If oil starts to crack, they could fall more sharply than the market.
Stocktrader
Hi Stocktrader,
Good moves in booking profit $$$$$
Saleem
Hey Saleem,
Major short squeezes happening...look at the 3-D printers DDD/SSYS (and NFLX). This could send all beta rocketing today.
Stocktrader
Hey Saleem,
GTAT is probably one of my best speculative picks in a while. They are in the midst of an industry paradigm shift, and the chart has based for a long time before staging this breakout now. Short interest was huge as of last record.
Stocktrader
Hi Stocktrader,
This is a Breakout where shorts are decimated.....
Good luck with GTAT.
Saleem
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