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
5 comments:
Hey Saleem,
Sold AXLL @ 45.424.
If the market does get a bit squishy here, AXLL could see weakness. Hope for the future won't work--only good execution now, and AXLL is still lacking there.
Stocktrader
Hey Saleem,
Did some more trimming of cyclical exposure:
Sold CMI @ 150.46
Sold MS @ 33.293
Sold DHI @ 21.384
Even though I expect a good report from CMI on Monday, there are some signs of weakening demand again, so the outlook could disappoint, plus the chart is getting tougher.
MS is a great company, but it will certainly go down if European problems expand.
I couldn't take it on DHI anymore. I had a higher sell offer since pre-market, but it didn't rebound at all. After breaking the 200 DMA, I think at best it will churn for a while.
I'm still evaluating other stocks for sale also. The poor price action in NXPI worries me, and other stocks like SPLK, PFPT, M, etc all lack catalysts now unless a takeover happens.
Stocktrader
Hi Stocktrader,
Good move in trimming portfolio.
I noticed weaker internals yesterday thus FB MU profit booking sale.
Good luck with your Strategy.
Saleem
Hey Saleem,
Nice move booking the profits.
I also sold SPLK @ 47.885.
Stocktrader
Hi Stocktrader,
Good move in booking profit from SPLK.
Saleem
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