Indices closed mixed after being down on Fed minutes.
S&P 500 @ 1986.51, high 1988.57, low 1977.68
RSI @ 62.99
CMF @ 0.050
Internals were :
UP volume led by 2.12 to 1 in NYSE & 1.17 to 1 in Nasdaq
Advancing stocks led by 1.06 to 1 in NYSE & .60 to 1 in Nasdaq
Net new 52 wk highs were leading by 122 in NYSE & 35 in Nasdaq
VIX Down 3.52% @ 11.78
Oil @ $96.07
Gold @ $1295.20
AH ER ...WUBA UP 1.21%, HPQ Down .91%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE handled Fed hawkish comments well & closed mostly green, internals were mostly positive. HSBC Chinese Flash PMI came in @ 3 month low in August @ 50.3% vs expectations of 51.3%, this may put pressure on Stocks with Chinese market exposure, this slowdown was not expected, which is not a good thing. This may present some buying opportunities in some stocks which can be impacted in collateral damage.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Bought FDX @ 150.43.
This is a play on a stronger economy and lower fuel prices.
Stocktrader
Hi Stocktrader,
Good luck with FDX.
Saleem
Hey Saleem,
I really feel like I should get a chemical company with natural gas so low and industrial activity picking up. I used to have AXLL with their chemical component, but I'm not sure I'm willing to step back in there. Any other company would be less known to me--something like a DOW, DD, EMN, HUN off the top of my head.
Any thoughts? (just looking at HUN now looks pretty good from FA and TA perspective).
Stocktrader
Hi Stocktrader,
No real insight into chemical sector.
Added 25 percent EGO @ $7.92.
Saleem
Hey Saleem,
I did try HUN @ 27.50.
Good luck with more EGO.
Stocktrader
Hi Stocktrader,
Good luck with HUN.
Saleem
Hey Saleem,
Added a bit to GS @ 174.83. I think fundamentals and technicals are lining up nicely for a run to $195-$200 over the medium term.
Stocktrader
Hi Stocktrader,
Financial should do well in higher rate environment...GS is a good bet.
Saleem
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