Thursday, July 31, 2014

Indices closed down 1.88% to 2.09%.....

Dow & S&P 500 closed @ absolute low of the day while Nasdaq managed to close slightly higher than lowest point.

S&P 500 @ 1930.67, high 1965.14, 50 DMA @ 1952.87

RSI @ 35.85

CMF @ 0.044

Internals were :

Down volume led by 8.70 to 1 in NYSE & 6.57 to 1 in Nasdaq

Declining stocks led by 10.24 to 1 in NYSE & 5.33 to 1 in Nasdaq

Net new 52 wk lows were leading by 76 in NYSE & 86 in Nasdaq

VIX UP 27.16% @ 16.95

Oil @ $98.17

Gold @ $1281.30

AH ER....SPWR Down 5.12%, GPRO Down 9.67%
                EXPE UP 4.38%, SWIR UP 6.64%
                LNKD UP 7.77%

AH Futures UP

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE faced many issues in international arena & US economic strength resulting in possibly early interest rate hike. Argentina spooked this market the-most on "contagion fear". BUT there is some good news on international front, there is 72 hour truce in GAZA. Selling was pretty aggressive & internals got decimated & VIX shot up 27% ...but it is a sign of capitulation which resulted in technical damage to DOW & S&P 500, i am seeing Nasdaq which held up above 50 DMA to take us out of this funk. I do not think that Jobs report will dictate the direction of this market, it is the deeply oversold condition which will bring sanity on Friday.

BLOG does NOT give buy or sell.

Saleem

Indices down 1.29% to 1.59%.......

Indices are tumbling on Argentina, escalation in Gaza, fear of US interest rate going up & impact of fresh sanctions against Russia.

S&P 500 @ 1942.52, low 1937.46, high 1965.14....currently below 50 DMA , Dow well below 50 DMA but Nasdaq still above 50 DMA & have not violated this key support...so there is hope for a turnaround either before close or Friday with good jobs report.

Internals are negative by 7 to 1 in NYSE & 5 to 1 in Nasdaq....this is capitulation......

Oil Down $1.65

Gold Down $13.10

Canadian $ UP 10 tick @ 91.09...GDP came in +2.3%

VIX UP 19.13% @ 15.88..high 16.30

Portfolio EGO GM LULU MU RAD SWIR

Most stocks are down

@ 2.31 following are green :

RAD OTEX GRPN KOG INVN HIMX BRCM 
LRCX JDSU JCP X ...

BLOG does NOT give buy or sell.

Saleem


Wednesday, July 30, 2014

Indices closed mixed....

Indices zig zagged whole day & closed mixed.

S&P 500 @ 1970.07, 1978.90, low 1962.42

RSI @ 51.26

CMF @ 0.112

Internals were :

UP volume led by .81 to 1 in NYSE & 1.79 to 1 in Nasdaq

Advancing stocks led by .63 to 1 in NYSE & 1.45 to 1 in Nasdaq

Net new 52 wk highs were leading by 25 in NYSE & 7 in Nasdaq

VIX UP .38% @ 13.33

Oil @ $100.27

Gold @ $1294.90

Stocks which were UP 1% or more included MU RAD SWIR
GTAT WUBA OTEX YELP TWTR EXPE YHOO FB
LNKD TSLA GRPN MRVL COH CSIQ CMG
FFIV ONVO YNDX BSFT HIMX ARUN
CIEN FNSR C JCP NFLX PANW M
SPLK X DATA CSOD MS....

AH ER...YELP Down 1.2%, WDC Down 2.64%,
WFM Down 3.38%
               CTRP Down 3.93%, NOW Down 5.01%, 
AKAM Down 5.40%

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was hesitant today in the face of Fed minutes & Argentina's default, Argentina has defaulted on $13 Billion. TAPE internals remains healthy & wants to go higher. Argentina will not affect market momentum. It is a stock pickers market & not all boats are being lifted, so throwing darts will not work in this environment. Know your stocks well or take time off to study fundamental & technical of each stock.

BLOG does NOT give buy or sell.

Saleem

Indices mixed....

Indices were UP then Down then UP & now Mixed as Fed minutes noted Q2 strength in economy but no change in interest rates. Indices are mixed on that decision.

S&P 500 @ 1974.46, high 1978.90, low 1962.42 ( lower low than last 2 days)

Internal are mixed

Oil Down 70 cents

Gold Down $2.20

Canadian $ Down 40 tick @ 91.10

VIX Down 2.26% @ 12.98

Portfolio EGO GM LULU MU RAD SWIR

Most stocks are UP

@ 2.24 following are red :

EGO GM QIHU GG KORS GRPN LEN TSL JKS DNKN
YUM INVN LRCX AMCC GMCR AEM WLT
Z AGU.....

BLOG does NOT give buy or sell.

Saleem




Tuesday, July 29, 2014

Indices closed down ,05% to .45%.....

Indices reversed & closed @ low of the day.

S&P 500 @ 1969.95, high 1984.85

RSI @ 51.20

CMF @ 0.134

Internals were :

Down volume led by 2.04 to 1 in NYSE & .89 to 1 in Nasdaq

Declining stocks led by 1.52 to 1 in NYSE & .96 to 1 in Nasdaq

Net new 52 wk highs were leading by 50 in NYSE & 5 in Nasdaq

VIX UP 5.73% @ 13.28

Oil @ $100.97

Gold @ $1298.30

Stocks which closed green today included MU
YELP TWTR EXPE LNKD TSLA PCLN MRVL
LVS SINA DNKN EBAY FFIV INVN YNDX SNDK
BRCM AMCC GMCR SPLK SBUX DATA CSOD WLT
WYNN AGU

AH ER...BWLD Down 10.65%, TWTR UP 28.45%

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was under "political sanction pressure plus Gaza fighting". TAPE started green & fought selling but in the end we closed @ low of the day. This negative action will propel this market higher once peace comes to Gaza & non-impact of sanctions are evident". We are building a nice base & making higher lows, so no real technical damage done so far.

BLOG does NOT give buy or sell.

Saleem

Indices mixed.....

Indices are mixed despite selling, this reversal started from yesterday's low.

S&P 500 @ 1975.98, high 1984.85, low 1973.53 this is higher low so far from yesterday.

Internals are positive with Nasdaq almost 2 to 1 on volume & advancing stocks.

Oil Down 79 cents

Gold Down $4.50

Canadian $ Down 52 tick 91.54

VIX UP 2.79% @ 12.91

In my portfolio 

Bought MU @ $32.04

Portfolio EGO GM LULU RAD SWIR MU

Most stocks are UP

@ 2.16 following are red :

GM LULU QIHU GTAT WUBA GG OTEX 
BIDU KORS GOOGL FB COH LEN
JKS CSIQ CMG SPWR ARUN
C STLD AEM MS TRLA
Z MLNX......

BLOG does NOT give buy or sell.

PS...Yesterday i missed BLOG due to EID celebration which is 
a lunar based decision, came to know late & then had to leave 
to meet friends & family.

Saleem


Sunday, July 27, 2014

Month end buying or selling ?

Here we are approaching end of July......

S&P 500 sitting @ 1978.34, 13 points lower than all time high.

CMF @ 0.203 @ lowest point since mid May, this is a significant stat as it shows money is leaving equities.

Russell 2000 is in serious trouble below 50 DMA & slightly above 200 DMA.....

Fed statement coming out on Wednesday @ 2 PM

Jobs report on Friday @ 830 AM.

Bonds are strong

World politics is @ recent low with conflicts being encouraged all over.

Stiffer sanctions against Russia is extremely bad for Europe's economic well being

All the political figures are "acting tough in their rhetoric"

Diplomacy is taking an "observers role"

World citizens are watching all this with sheer disgust......as they know very well its not a video game.

YES..it is important to factor all of the above when "tensions are being ratcheted up" as it affects investments, economic activity which in turn affects stock market....

SO...all of the above can take this market down in the coming days.....

We may witness month end selling to accelerate going into jobs report.

Fed may also inject fear about economy being better than before, thus invoking fear of interest rate hike earlier than anticipated.

Friday's jobs report may offer positive news as US economy is chugging along nicely.

We are certainly entering a period of pressure on stock market.

This negative bias may not end until end of August.

SO..what does this means in terms of trading ?

Book profit ASAP

Do swing trading or daytrading which may give you some profit IF you know some stocks well.

Otherwise reduce your allocation & go to safer stocks which is "not high beta"

Sometimes, you cannot fight the TAPE......we may have entered such an environment.

Good luck on your own strategy.

BLOG does NOT give buy or sell.

Saleem




Friday, July 25, 2014

Indices closed down .48% to .72%......

Indices were under selling pressure from open to close. European economic weakness took a toll & US data was ignored.

S&P 500 @ 1978.34, low 1974.37, high 1984.60

RSI @ 55.68

CMF @ 0.203

Internals were :

Down volume led by 2.04 to 1 in NYSE & 1.78 to 1 in Nasdaq

Declining stocks led by 1.98 to 1 in NYSE & 2.18 to 1 in Nasdaq

Net new 52 wk high were leading by 32 in NYSE & lows by 4 in Nasdaq

VIX UP 7.18% @ 12.69

Oil @ $102.09

Gold @ 1303.30

Canadian $ Down 72 tick @ 91.86

Stocks which were UP 1% or more included EGO
QIHU YY GG BIDU RVBD JKS CMG 
FSLR JCP ABX SLW AEM DATA
TRLA Z MLNX......

Here is my weighting :

GM    34.98%

LULU 27.25%

SWIR 17.34%

RAD  12.66%

EGO   7.77%

Exposure 175%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 24, 2014

Indices closed mixed....

Indices closed mixed on mixed data, weak housing, good jobs picture.

S&P 500 @ 1987.98, high 1991.30, low 1985.79

RSI @ 60.92

CMF @ 0.243

Internals were :

UP volume led by 1.21 to 1 in NYSE & 1.23 to 1 in Nasdaq

Declining stocks led by 1.14 to 1 in NYSE & 1.21 to 1 in Nasdaq

Net new 52 wk highs were leading by 168 in NYSE & 40 in Nasdaq

VIX UP 2.78% @ 11.84

Oil @ $102.07

Gold @ $1290.80

AH ER...SBUX Down 2.45%, V Down 3.03%, KLAC Down 4.14%
              AMZN Down 10.56%, P Down 10.69%, BIDU UP 6.23%

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was mixed due to mixed earnings picture & economic data. Tonight earnings are more towards negative which may impact open, it also provides an opportunity to buy some of better performing stocks. This TAPE gives the impression that it may breakdown but before we know it pulls itself together & moves higher. S&P 500 continues to make new all time highs. Swing trading may be the best idea to deal with zig zag in the markets. There is only a closing BLOG on Friday around 730 PM, but i am around for any discussion or opinion.

BLOG does NOT give buy or sell.

Saleem


Indices mixed

Indices are mixed on good economic news in China & US. S&P 500 @ new all time high.

S&P 500 @ 1987.54, high 1991.39, low 1985.86

Internals are negative

Oil Down 90 cents

Gold Down $14.00

Canadian $ Down 23 tick @ 92.51

VIX UP 1.74% @ 11.72

In my portfolio :

Sold FB @ $76.50

Sold MU @ $34.01

Bought GM @ $36.40

Portfolio EGO GM LULU RAD SWIR

Most stocks are down

@ 2.29 following are UP 1% :

RAD LULU FB MU WUBA YY YELP TWTR 
YHOO LNKD BIDU COH EBAY FFIV
ONVO INVN YNDX BSFT HIMX
ARUN JCP PANW SPLK 
SBUX DATA CSOD
WLT TRLA YELP
Z MLNX....

BLOG does NOT give buy or sell.

Saleem




Wednesday, July 23, 2014

Indices closed mixed.....

Indices closed mixed but S&P 500 made a new all time closing high.

S&P 500 @ 1987.01, 1989.23, low 1982.44

RSI @ 60.57

CMF @ 0.298

Internals were :

UP volume led by 1.05 to 1 in NYSE & 1.16 to 1 in Nasdaq

Advancing stocks led by 1.38 to 1 in NYSE & .99 to 1 in Nasdaq

Net new 52 wk highs were leading by 151 in NYSE & 37 in Nasdaq

VIX Down 5.88% @ 11.52

Oil @ $103.12

Gold @ $1304.70

Stocks which were UP 1% or more included EGO FB
YHOO LNKD TSLA AAPL LEN TSLA SINA
SU EBAY INVN YNDX C JCP SPLK X
DATA MS GS TRIP......

AH ER ....QCOM Down 4.06%, CRUS Down 6.68%
                 TRIP Down 11.05%, FB UP 5.62%

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE braved all the international events of two Jets blown away & Tel Aviv airport being shut down by making new all time closing high in S&P 500. Earnings are mixed tonight. Chinese July Flash PMI came in @ 52 vs expectations of 51, 52 is an 18 month high. Internals were weak in Nasdaq which is not a good thing.

BLOG does NOT give buy or sell.

Saleem

Indices mixed.....

Indices are mixed despite downing of 2 planes & Tel Aviv airport being shut down for 48 hours. S&P 500 @ another all time high  & Nasdaq getting close to new 14 year high.

S&P 500 @ 1987.94, high 1989.23, low 1982.44

Internals are positive

Oil UP 64 cents

Gold Down 90 cents

Canadian $ UP 3 tick @ 92.66

VIX Down 4.25% @ 11.72

Portfolio EGO FB LULU MU RAD SWIR

FB reports tonight, following are expectations :

Q2 Sales expected $2.81 Billion, EPS 32 cents

Q3 guidance Sales $3.00 Billion, EPS 34 cents

It should be an easy beat .....

Most stocks are UP

@ 2.23 following are red :

MU SWIR GTAT WUBA OTEX YY KORS GMCR
RVBD MRVL AG LVS TSL JKS CSIQ MCD
AMZN FFIV MA V FSLR SPWR CSOD
BSFT HIMX ARUN CRUS WLT
LRCX AMCC LSCC TRLA
CIEN JDSU FNSR MLNX
NFLX PANW WYNN....

BLOG does NOT give buy or sell.

Saleem


Tuesday, July 22, 2014

Indices closed UP .36% to .71%......NICE !!!!

TAPE had a good day by closing in the upper range & S&P 500 scored another new all time high intraday.

S&P 500 @ 1983.53, high 1986.24, low 1975.65

RSI @ 59.37

CMF @ 0.236

Internals were :

UP volume led by 2.32 to 1 in NYSE & 1.86 to 1 in Nasdaq

Advancing stocks led by 2.20 to 1 in NYSE & 2.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 155 in NYSE & 57 in Nasdaq

VIX Down 4.45% @ 12.24

Oil @ $104.42

Gold @ $1306.30

Stocks which were UP 1% or more included MU RAD SWIR
WUBA LVS LNKD KOG LEN SINA EXPE FFIV CMG
PCLN MA GTAT QIHU YY ONVO INVN YNDX
ARUN SNDK AMCC LSCC FNSR PANW 
SPLK SBUX X STLD DATA CSOD
MGA MS TRLA WYNN GS
TRIP MLNX......

AH ER ...JNPR Down 5%, XLNX Down 9.14%
                BRCM UP 2.71%, ISRG UP 10.57%

AH Futures Down

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE is back on track in making new all time highs as evidenced today by S&P 500. I expect indices to keep moving higher on generally good to better earnings report. Being patient in this TAPE has rewarded many either by controlling losses or giving very good gains. Stay diversified with emphasis on large cap techs.

BLOG does NOT give buy or sell.

Saleem

Indices UP .46% to .79%...NICE !!!!

TAPE is strong from open & ignoring conflicts. S&P 500 made a new all time high already.

S&P 500 @ 1984.69, high 1986.24, low 1975.65

Internals are positive by minimum 2 to 1

Oil Down 67 cents

Gold Down $7.30

Canadian $ Down 2 tick @ 92.64

VIX Down 7.18% @ 11.89

Portfolio EGO FB LULU MU RAD SWIR

Most stocks are UP

@ 2.10 following are red :

EGO FB GG TWTR KORS RVBD MRVL AG JKS
ZNGA LRCX JCP NFLX MCD ABX SLW
AEM Z......

BLOG does NOT give buy or sell.

Saleem

Monday, July 21, 2014

Indices closed down .17% to .28%.....

Indices closed near high of the day.

S&P 500 @ 1973.63, low 1965.77, high 1976.93

RSI @ 55.82

CMF @ 0.237

Internals were :

Down volume led by 1.54 to 1 in NYSE & 1.08 to 1 in Nasdaq

Declining stocks led by 1.71 to 1 in NYSE & 1.62 to 1 in Nasdaq

Net new 52 wk highs were leading by 56 in NYSE & 10 in Nasdaq

VIX UP 6.22% @ 12.81

Oil @ $104.59

Gold @ $1313.90

AH ER...NFLX UP .76%, CMG UP 10.06%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE showed its true character again by erasing most of the losses by close, many traders are too reactive to headlines issues. We should analyze IF the events are going to impact earnings in the short term & most events do not. TAPE may have discounted two of the current boiling points & is ready to show green by Tuesday. Earnings are the big driver again for another move to new all time highs.

BLOG does NOT give buy or sell.

Saleem

Indices down .14% to .26%......

TAPE was reacting earlier to bloodshed in Gaza but has calmed down & near best level of the day. I am expecting a ceasefire.

S&P 500 @ 1973.84, low 1965.77, high 1976.93

Internals are negative

Oil UP $1.40

Gold UP $4.10

Canadian $ unchanged @ 92.71

VIX UP 5.06% @ 12.67

Portfolio EGO FB LULU MU RAD SWIR

Most stocks are down

@ 2.31 following are green :

FB  QIHU WUBA YY TWTR LNKD BIDU
PCLN KORS SINA PCLN ONVO 
BSFTCRUS NFLX STLD CCJ 
DATA Z.......

BLOG does NOT give buy or sell.

Saleem

Sunday, July 20, 2014

TAPE is looking beyond current conflicts......

YES there is Gaza massacre & there is ashes of MH 17...but TAPE is looking ahead to resolution of these disputes in short order.

S&P 500 pulled back 1.65% @ its low, while Nasdaq lost 2.25%, this is remarkable considering worldwide serious issues.

S&P 500 is giving a clear picture of finding higher support & should move to 2000++ area.....

Earnings so far has exceeded expectations which is a very good sign for bulls......

Big cap stocks are in vogue these days & has established leadership position, they are in "breakout mode"

This TAPE is the best TAPE i have observed with small periodic pullbacks.

It is important to maintain exposure & booking of profit is a good idea to buy other bargain stocks.

Even in techs there is rotation, cloud is a bargain now vs being overbought & extended before.

Oil stocks have been the-best performing group to the surprise of me & many so called market timers & seasonality junkies.

Gold Stocks are a good hedge & have broken out, small exposure of 5% to 10% is not a bad idea.

SO....stay engaged in this TAPE & go where money flow is.....

BLOG does NOT give buy or sell.

Saleem


Friday, July 18, 2014

Indices closed UP .73% to 1.57%....NICE !!!!!

Indices closed near high of the day. Internals were super strong.

S&P 500 @ 1978.22, high 1979.91, 1960.82

RSI @ 58.00

CMF @ 0.253

Internals were :

UP volume led by 4.77 to 1 in NYSE & 8.51 to 1 in Nasdaq

Advancing stocks led by 4.72 to 1 in NYSE & 3.74 to 1 in Nasdaq

Net new 52 wk highs were leading by 102 in NYSE & lows were leading by 12 in Nasdaq

VIX Down 17.06% @ 12.06

Oil @ $103.13

Gold @ $1309.40

Stocks which were UP 1% or more included FB RAD SWIR
QIHU GTAT YELP EXPE LNKD BIDU TSLA AAPL
GGOGL GRPN OWW RVBD KOG TSL JKS X
CSIQ AMZN CMG MA  SPWR FSLR SPLK
ONVO INVN YNDX BSFT HIMX STLD
ARUN CRUS LRCX SNDK CSOD V
BRCM AMCC FNSR MS WLT
NFLX PANW TRLA TRIP
GMCR....

Here is my weighting @ close :

LULU 24.30%

FB      21.79%

MU    19.61%

SWIR 15.83%

RAD   11.59%

EGO   6.88%

Exposure 190%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 17, 2014

Indices closed down .94% to 1.41%.....

TAPE was under selling pressure & closed near low of the day.

S&P 500 @ 1958.12, low 1955.59, high 1981.80

RSI @ 50.06

CMF @ 0.254

Internals were :

Down volume led by 5.81 to 1 in NYSE & 4.59 to 1 in Nasdaq

Declining stocks led by 4.40 to 1 in NYSE & 4.16 to 1 in Nasdaq


Net new 52 wk highs were leading by 49 in NYSE & lows by 37 in Nasdaq

VIX UP 32.18% @ 14.54

Oil @ $103.19

Gold @ $1316.90

AH ER....STX Down 1.66%, IBM Down 1.97%, 
               AMD Down 18.82%
               GOOG UP .99%, SWKS UP 8.44%

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was weak thanks to many geo-political aggression & tension being ratcheted UP. The good news is that internals capitulated today in a hurry as selling was extreme. I do not expect things to go from bad to worse in world politics or in markets. I am expecting a "green close on Friday"...sorry to Jimmy the Cramer who was panicking today. This TAPE has so much strength otherwise we should have seen 3% drop easy on heightened tension in Gaza & Ukraine.

BLOG does NOT give buy or sell.

Saleem

Indices are down .43% to .91%.....

TAPE is weak due to poor earnings plus Malaysian Airlines being shot is adding to fear of escalation in Ukraine. New sanctions against Russia is a serious issue as it does not promote peace or economic activities.

S&P 500 @ 1969.14, low 1965.95, high 1981.80

Internals are negative by minimum 2 to 1

Oil UP $1.80

Gold UP $16.70

Canadian $ UP 5 tick @ 92.65

VIX UP 17.82% @ 12.96

Portfolio EGO FB LULU MU RAD SWIR

Most stocks are down

@ 2.28 following are green :

EGO LULU WUBA LNKD GG KORS RVBD AG COH
TSLA SINA EBAY FFIV INVN ZNGA CIEN JDSU
PANW ABX SLW AEM CCJ AGU TRIP.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, July 16, 2014

Indices closed UP .22% to .45%....NICE !!!!

Indices closed UP & Dow made another new all time high.

S&P 500 @ 1981.57, high 1983.94, low 1975.67

RSI @ 62.96

CMF @ 0.353

Internals were :

UP volume led by 1.81 to 1 in NYSE & .91 to 1 in Nasdaq

Advancing stocks led by 1.24 to 1 in NYSE & .72 to 1 in Nasdaq

Net new 52 wk highs were leading by 94 in NYSE & 6 in Nasdaq

VIX Down 8.03% @ 11.00

Oil @ $101.20

Gold @ $1299.80

Stocks which were UP 1% or more included EGO MU
GG KORS OWW MRVL AG KOG LEN SU
SNDK BRCM AMCC C JCP PANW X
STLD ABX SLW AEM CCJ MS
WLT TRLA MLNX.....

AH ER....LVS Down 1.42%, EBAY Down 1.44%, 
               YUM Down 2.39%, SNDK Down 9.22%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was not as strong as the indices would show, internals were negative in Nasdaq. Divergence is never a good thing. Thursday before Option expiry is unpredictable as market makers are in total control & will take most stocks @ certain strike price of their liking. Earnings tonight are sloppy & may put pressure in certain sectors unless analysts come to their rescue by upgrading or defending those stocks.

BLOG does NOT give buy or sell.

Saleem

Indices UP .40% to .43%....NICE !!!!

Indices are UP after good economic news from China , UK & good earning report in US.

S&P 500 @ 1981.15, high 1983.94, low 1975.67

Internals are positive

Oil UP $1.23

Gold UP $1.30

Canadian $ UP 13 tick @ 92.57

VIX Down 5.60% @ 11.29

Portfolio EGO FB LULU MU RAD SWIR

Most stocks are UP

@ 1.54 following are red :

LULU GTAT WUBA YELP TWTR EXPE 
YHOO LNKD PCLN GRPN RVBD
TSL CSIQ TSLA DNKN CMG 
EBAY FFIV YNDX NFLX
GMCR MCD CSOD
TRIP.....

BLOG does NOT give buy or sell.

Saleem




Tuesday, July 15, 2014

Indices closed mixed.....

Indices closed mixed well off their low of the day.

S&P 500 @ 1973.28, low 1965.34, high 1982.52

RSI @ 59.54

CMF @ 0.363

Internals were :

Down volume led by 1.48 to 1 in NYSE & 1.84 to 1 in Nasdaq

Declining stocks led by 1.91 to 1 in NYSE & 2.58 to 1 in Nasdaq

Net new 52 wk highs were leading by 71 in NYSE & lows by 12 in Nasdaq

VIX UP 1.18% @ 11.96

Oil @ $99.96

Gold @ $1297.10

AH ER ...YHOO Down 2.27%, INTC UP 4.23%

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE gave a very impressive comeback with Dow being green @ close. Reaction to Janet Yellen comment of stretched valuation was @ best minimal. Chinese GDP for Q2 came in @ 7.5% vs expectations of 7.4%, this should give lift to stocks worldwide. Expect new highs to be made in Dow & other indices in short order. INTC earning bodes well for PC related stocks.

BLOG does NOT give buy or sell.

Saleem


Indices down .24% to 1.01%......

TAPE is reacting to Janet Yellen comment about Biotech & Social media stocks being overvalued.

S&P 500 @ 1967.69, low 1965.34, high 1982.52

Internals are negative by 2.5 to 1 in NYSE & almost 4 to 1 in Nasdaq

Oil Down $1.69

Gold Down $10.70

Canadian $ Down 57 tick @ 92.35

VIX UP 4.06% @ 12.30

Portfolio EGO FB LULU MU RAD SWIR

Most stocks are down

@ 12.13 following are green :

YY WUBA MRVL TSL CSIQ FFIV MA V
C SBUX STLD MS GS AGU....

BLOG does NOT give buy or sell.

Saleem

Monday, July 14, 2014

Indices closed UP .48% to .66%...NICE !!!!

TAPE was strong today & all indices closed near high of the day.

S&P 500 @ 1977.10, high 1979.85, low 1969.86

RSI @ 61.99

CMF @ 0.387

Internals were :

UP volume led by 1.90 to 1 in NYSE & 1.75 to 1 in Nasdaq

Advancing stocks led by 1.79 to 1 in NYSE & 1.76 to 1 in Nasdaq

Net new 52 wk highs were leading by 152 in NYSE & 22 in Nasdaq

VIX Down 2.15% @ 11.82

Oil @ $100.91

Gold @ $1306.70

Stocks which were UP 1% or more included FB MU SWIR
C LNKD KOG BIDU JKS YNDX TSL AMZN CMG
TSLA SINA SU YUM YY GOOGL SPLK CCJ
DATA MS GS AGU MLNX.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE got a boost before open from GS after they raised S&P 500 target to 2050. Tomorrow Janet Yellen has testimony & market will pay close attention to Q&A. This Friday is monthly & weekly Option Expiry which results in a slanted market on MM positioning for Thursday, either sharply UP or Down. So far internals are off to a solid start. Monitor this TAPE closely & go with the flow, but i have my trigger on locking profit if RSI turns close to 70.

BLOG does NOT give buy or sell.

Saleem

Indices UP .57% to .79%.....NICE !!!!

TAPE is strong today & doing a follow thru from Friday & making new intraday high in DOW. All indices are near high of the day. C earning report this morning which beats both Sales & EPS is giving confidence in Bank earnings.

S&P 500 @ 1978.58, high 1979.85, low 1969.86

Internals are positive by more than 2 to 1

Oil Down 1 cent

Gold Down $30.20

Canadian $ UP 12 tick @ 92.81

VIX Down 4.39% @ 11.55

Portfolio EGO FB LULU MU RAD SWIR

Most stocks are UP

@ 12.16 following are red :

EGO LULU GTAT GG WUBA OTEX KORS
GRPN RVBD AG COH EBAY LRCX
JCP PANW GMCR X STLD ABX
SLW AEM WLT TRIP ...

BLOG does NOT give buy or sell.

Saleem

Sunday, July 13, 2014

TAPE to stay in neutral to negative mode for rest of summer ?

TAPE has entered a neutral to negative mode for rest of summer.

Earnings expectations are too high for Sales & EPS.....

Many traders & hedge funds are sitting out this market for now....

Markets are considered "too high" & vulnerable to "severe downward push"

Carl Icahn / Carter Worth are warning about this market....

VIX is spiking...a sign of trouble ahead

Geo-political tension is spiking to dangerous level in Gaza, Iraq, Ukraine.....

When markets are @ lofty level everything matters......

I see this summer as quite troubling for this market....

TAPE may not improve until 2nd week of October ?

SO......what to do & how to deal with all of the above...

Strategy needs to be adjusted immediately....

What worked before is extremely vulnerable now

What did not work before may offer hope

Swing trading may be the best idea going into October....

Neglected stocks / sectors may come to life......

Gold / Silver may be the biggest beneficiary of summer issues.....

Increasing or adding Gold / Silver exposure may be the best idea i can come up with.....

It is OK to have 1 or 2 stocks going forward until there is clarity about technicals....

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BLOG does NOT give buy or sell.

Saleem




Friday, July 11, 2014

Indices closed UP .15% to .44%....NICE !!!!

Indices staged a rebound & closed near high of the day.

S&P 500 @ 1967.57, high 1968.67, low 1959.63

RSI @ 57.98

CMF @ 0.402

Internals were :

UP volume led by 1.14 to 1 in NYSE & 1.41 to 1 in Nasdaq

Advancing stocks led by 1.22 to 1 in NYSE & 1.02 to 1 in Nasdaq

Net new 52 wk highs were leading by 82 in NYSE & lows by 4 in Nasdaq

VIX Down 4.05% @ 12.08

Oil @ $100.83

Gold @ $1337.40

Canadian $ Down 62 tick @ 92.80 on poor jobs report, expectations were for +20K actual -9.4 K

Stocks which were UP 1% or more included EGO FB SWIR
QIHU GG YY TWTR YHOO BIDU GOOGL GRPN
SNDK GMCR X STLD WLT TRLA TRIP AG
JKS AMZN EBAY ONVO HIMX ARUN
ZNGA LSCC JDSU....

Here is my weighting @ close :

LULU 25.42%

FB     20.99%

MU   19.27%

SWIR 15.47%

RAD  11.87%

EGO  6.98%

Exposure 190%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, July 10, 2014

Indices closed down .41% to .52%......

Indices fought back & erased most of the losses by close.

S&P 500 @ 1964.68, low 1952.86, high 1969.84

RSI @ 56.69

CMF @ 0.340

Internals were :

Down volume led by 2.63 to 1 in NYSE & 2.63 to 1 in Nasdaq (not a typo)

Declining stocks led by 2.26 to 1 in NYSE & 3.03 to 1 in Nasdaq

Net new 52 wk highs were leading by 49 in NYSE & lows by 29 in Nasdaq

VIX UP 8.07% @ 12.59

Oil @ $102.93

Gold @ $1339.20

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, Today TAPE gave another chance to buy the dip or hold all your position but unfortunately many panic in these situation & sell on fear. It is safe to say that there were more than few issues troubling the market like Fed governor contradicting Fed minutes, Chinese weakness, European weakness plus side show of Portugese bank. In the last 4 trading days of pullback Dow lost 1.58%, S&P 500 lost 1.65% & Nasdaq got pummeled with 3.00% loss. My guess for this pullback was 3% which has been achieved by Nasdaq, not all indices have to go down the same %. We are all set to recover from 4 day of selling & should see a strong close on Friday. For many BLOG visitors who are new, please note that there is only a closing BLOG on Friday around 730 PM, but i am around for any comment or my take.

BLOG does NOT give buy or sell.

Saleem

Indices down .42% to .49%.....

World markets were rattled by a non payment of loan by a Portugese bank.

S&P 500 @ 1964.32, low 1952.86, high 1969.84

Internals are negative by minimum 2 to 1

Oil UP 61 cents

Gold UP $14.10

Canadian $ Down 3 tick @ 93.47

VIX UP 6.95% @ 12.46, high 13.23

Portfolio EGO FB LULU MU RAD SWIR...

Most stocks are down

@ 2.50 following are green :

MU RAD WUBA GG OTEX RVBD AG CSIQ
HIMX ZNGA LSCC PANW ABX SLW
AEM MGA.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, July 9, 2014

Indices closed UP .46% to .63%....NICE !!!!

TAPE was strong after being trashed for few day's.

S&P 500 @ 1972.83, high 1974.15, low 1965.10

RSI @ 61.64

CMF @ 0.314

Internals were :

UP volume led by 2.15 to 1 in NYSE & 1.71 to 1 in Nasdaq

Advancing stocks led by 1.39 to 1 in NYSE & 1.25 to 1 in Nasdaq

Net new 52 wk highs were leading by 75 in NYSE & by 10 in Nasdaq

VIX Down 2.75% @ 11.65

Oil @ $102.29

Gold @ $1324.30

Stocks which were UP 2% or more included EGO FB 
WUBA GRPN CMG SPWR INVN AEM 
YNDX LRCX KOG AG FFIV JCP
Z TRIP.......

AH ER LL Down 18.9%

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP $7.50 @ $1331.80.....@ new recent highs

About market, TAPE was green from open & closed near high of the day. Internals recovered from yesterday's drubbing. TAPE action was stable enough today to hope for a follow up gain on Thursday which will confirm this rally. Staying diversified is the right way to go & having conviction in your pick is a good strategy.

BLOG does NOT give buy or sell.

Saleem