Indices closed near best level of the day.
S&P 500 @ 1996.74, low 1990.52, high 1998.55
RSI @ 64.00
CMF @ 0.227...best level in 4 weeks
Internals were :
Down volume led by 1.72 to 1 in NYSE & 1.17 to 1 in Nasdaq
Declining stocks led by 1.38 to 1 in NYSE & 1.88 to 1 in Nasdaq
Net new 52 wk highs were leading by 110 in NYSE & 12 in Nasdaq
VIX UP 2.29% @ 12.05
Oil @ $94.55
Gold @ $1288.70
AH ER...OVTI UP 2.24%, SPLK UP 8.94%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE showed its resiliency by almost erasing all the down moves. Whenever there is selling for any reason, there are buyers waiting to jump in & locking bargains. It is important to know your stocks well & its relative position in their industry. Evaluate your risk level all the time, some high beta stocks are extremely volatile & may not go far in real terms. Buy what you know is always a good idea. Keep in mind, we are still in slow volume environment, price movement may be subdued.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
Well, this certainly didn't work out as planned with SPLK. I'm frustrated that I listened to the worriers/analysts instead of just sticking with my stock. Every time I listen to the conference call from these guys, including last night's, I feel like I can hold the stock forever and it'll be great. Obviously, many conference calls go like that, but these guys are still so early in their growth.
Stocktrader
Hi Stocktrader,
SPLK is 50 percent off its high @ current price....
It is still a buy..
Saleem
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