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
14 comments:
Hey Saleem,
Bought M @ 59.099.
Stocktrader
Hey Saleem,
Added to AXLL @ 48.595.
Stocktrader
Hey Saleem,
Sold PANW @ 81.53.
Stocktrader
Hi Stocktrader,
Good luck with M and mucho position in AXLL..
Saleem
Hey Saleem,
Bought PRU @ 91.632.
Stocktrader
Hi Stocktrader,
Good luck with Prudential.
Saleem
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
Hi Stocktrader,
Housing stocks are struggling so far..
Saleem
Hi Stocktrader,
Bought EGO @$7.52
Saleem
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
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short-term toppy to me and I'm skeptical of gold putting together a run here if the market suspects QE is going to be withdrawn.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
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
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
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
Post a Comment