Wednesday, July 2, 2014

Indices closed mixed....

Indices closed mixed but near highs of yesterday.

 S&P 500 @ 1974.62, high 1976.67, low 1972.58

 RSI @ 70.01

 CMF @ 0.420

 Internals were :

 Down volume led by by 1.07 to 1 in NYSE & 1.01 to 1 in Nasdaq

 Declining stocks led by 1.70 to 1 in NYSE & 1.20 to 1 in Nasdaq

 Net new 52 wk highs were leading by 167 in NYSE & 74 in Nasdaq

 VIX Down 2.96% @ 10.82

 Oil @ $104.48

 Gold @ $1330.90

 AH Futures Down

 AH Asian Markets Mixed

 AH Oil & Gold Down

 About market, ADP 281K number giving lot of hope for better jobs number which is expected @ 215K. Jobs number is extremely erratic from month to month & gets revised UP a month later, more shrewd traders will look @ previous two months revision than June jobs number. I will not be surprised IF we come well below 215K, IF we are lower than consensus then reaction may be severe based on current high altitude of this market, negative reaction normally do not last for more than 1.5 days. Market will close @ 1PM & closed Friday in US, those who cannot live without watching tickers rest of the world markets & Toronto is open full day Thursday & Friday.

 BLOG does NOT give buy or sell.

 Saleem
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14 comments:

  1. stocktrader_1996July 3, 2014 at 6:34 AM

    Hey Saleem,

    Bought M @ 59.099.

    Stocktrader

    ReplyDelete
  2. stocktrader_1996July 3, 2014 at 6:38 AM

    Hey Saleem,

    Added to AXLL @ 48.595.

    Stocktrader

    ReplyDelete
  3. stocktrader_1996July 3, 2014 at 6:44 AM

    Hey Saleem,

    Sold PANW @ 81.53.

    Stocktrader

    ReplyDelete
  4. Stocks100July 3, 2014 at 6:50 AM

    Hi Stocktrader,

    Good luck with M and mucho position in AXLL..

    Saleem

    ReplyDelete
  5. stocktrader_1996July 3, 2014 at 6:52 AM

    Hey Saleem,

    Bought PRU @ 91.632.

    Stocktrader

    ReplyDelete
  6. Stocks100July 3, 2014 at 7:13 AM

    Hi Stocktrader,

    Good luck with Prudential.

    Saleem

    ReplyDelete
  7. stocktrader_1996July 3, 2014 at 8:15 AM

    Hey Saleem,

    AXLL isn't that large for me even still. I started small with it yesterday.

    It will be interesting to see how housing acts here. Job growth is good, but interest rates higher isn't.

    Stocktrader

    ReplyDelete
  8. Stocks100July 3, 2014 at 9:38 AM

    Hi Stocktrader,

    Housing stocks are struggling so far..

    Saleem

    ReplyDelete
  9. Stocks100July 3, 2014 at 10:01 AM

    Hi Stocktrader,

    Bought EGO @$7.52

    Saleem

    ReplyDelete
  10. Western FirebirdJuly 3, 2014 at 10:15 AM

    Sold HFC 44.7
    Rebought HFC 44.3

    Sold MPC 80.4

    I bought both lower after the refinery crash, but I don't like carrying the risk.

    Bought Duk 71

    ReplyDelete
  11. stocktrader_1996July 3, 2014 at 10:24 AM

    Hey Saleem,

    Interesting buy on EGO. The chart looks very short-term toppy to me and I'm skeptical of gold putting together a run here if the market suspects QE is going to be withdrawn.

    Stocktrader

    ReplyDelete
  12. Stocks100July 3, 2014 at 10:48 AM

    Yes EGO has been strongest among gold stocks.....but there is a very good reason for it....their fundamental has improved with new permit from Turkish government....also it is in short list of takeover companies...

    So 1+1 can add up to 4....

    Saleem

    ReplyDelete
  13. Stocks100July 3, 2014 at 10:55 AM

    Hi Stocktrader,

    One more thing about EGO chart in case you didn't notice....it is ready for a Golden Cross...gold stock + golden cross can also = 4

    Saleem

    ReplyDelete
  14. stocktrader_1996July 3, 2014 at 11:16 AM

    Hey Saleem,

    I did notice the imminent golden cross. I've found it to be a lagging indicator as people buy the stock in anticipation of that cross and then take profits. Medium/long term it is a good sign though.

    I like the fundamental change you described--that could help it outperform for a while :)

    Stocktrader

    ReplyDelete