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
3 comments:
Hey Saleem,
AXLL is playing out according to plan (I went back and looked at my exact comments). Rough Q2, but better times ahead. I know they didn't give guidance with the latest release, but the analyst commentary is buy the dip today.
Stocktrader
Hey Saleem,
I will admit though, I'm nervous about their continued misses. I'm willing to give them a pass for now, but if they can't execute going forward, I'll have to sell based on poor management ability.
Stocktrader
Hi Stocktrader,
It is important to evaluate issues and any progress for AXLL.
Good luck,
Saleem
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