It was Germany which caused economic explosion in markets. US markets fought its way to minor negative close.
S&P 500 @ 1933.75, low 1928.29, high 1939.65
RSI @ 44.13
CMF @ -0.043
Internals were :
Down volume led by 1.77 to 1 in NYSE & 2.04 to 1 in Nasdaq
Declining stocks led by 1.46 to 1 in NYSE & 2.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 16 in NYSE & lows by 10
VIX Down .70% @ 14.13
Oil @ $97.37
Gold @ $1310.60
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was resilient despite going UP for two days and barely down for the day. Economic reports from Germany was extremely troubling and does not bode well for European economies in near future. US is the only safe haven these days for equities. Stay the course we are heading north in short order.
BLOG does NOT give buy or sell.
Saleem
10 comments:
Hey Saleem,
Sold M @ 57.68.
I was worried about a muted response given the pre-earnings run, but really the results weren't even that good. I'm going to step back and evaluate.
I really think *brands* are the important pieces of retail, and M isn't a brand. I'm looking more closely at RL, my personal favorite brand, and I like their new initiatives to increase brand awareness. I need to go over the conference call again, but I'll likely start a position. I think there definitely needs to be some retail in the portfolio given the crash in gasoline prices.
Stocktrader
Hi Stocktrader,
Good luck with your research of RL.
Saleem
Hey Saleem,
Wow...got out of that just in time...
Stocktrader
Hi Stocktrader,
YES..selling near high is good.
Saleem
Hey Saleem,
The market feels vulnerable here.
Europe, China, US all with weak numbers today? The Ukraine "relief" might just be a side-show to underlying issues with earnings power.
I am carefully considering some sells.
Stocktrader
Hi Stocktrader,
Always do what feels right.
Saleem
Hey Saleem,
The WLH conference call is pretty interesting and positive I'd say. Although housing is in a bit of a funk, they really have opportunities for cost syngeries with their recent large acquisition. I like their chances for a move back higher.
Stocktrader
Hi Stocktrader,
Big Money is made on analysis which factors future trend.
Good luck with WLH.
Saleem
Hey Saleem,
I've been listening to a replay of the CSIQ conference call. It seems like China has been slow in the quarter, but as the permitting backlog clears, they still expect strong demand. To me this says JKS might have a sluggish Q2, but should guide well--we'll see how the street receives that report.
Stocktrader
Hi Stocktrader,
Chinese Solar are operating in their own universe....each has there own focus...most are struggling.
Good luck with JKS.
Saleem
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