Indices closed down again.
S&P 500 @ 1972.29, low 1968.96, high 1985.17
RSI @ 44.45
CMF @ 0.019
Internals were :
Down volume led by 2.42 to 1 in NYSE & 1.85 to 1 in Nasdaq
Declining stocks led by 1.71 to 1 in NYSE & 2.26 to 1 in Nasdaq
Net new 52 wk lows were leading by 149 in NYSE & 88 in Nasdaq
VIX UP 2.07% @ 16.31
Oil @ $91.16
Gold @ $1211.60
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was negative again & internals were negative across the board, Hong Kong and weaker US stats is causing concern about the strength of this economy & economy worldwide. Chinese PMI data for September came in @ 51.1% same as August. Chinese economy along with Europe is becoming a concern. BUT TAPE is getting "extremely oversold" and may snapback sharply.
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 30, 2014
Indices down .21% to .35%....
Consumer confidence slippage is taking a toll in maintaining negativity in indices & Hong Kong protest is not far off radar.
S&P 500 @ 1970.70
Internals are negative by almost 2 to 1
Oil Down $3.42
Gold Down $9.00
Canadian $ Down 39 tick @ 88.00 lowest in 6 months
VIX UP 1.56% @ 16.23
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.16 following are green :
JCP EXPE YHOO PCLN KORS AAPL OWW
BABA LVS CMG EBAY V ONVO INVN
HIMX NFLX SBUX WLT WYNN
TRIP MLNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1970.70
Internals are negative by almost 2 to 1
Oil Down $3.42
Gold Down $9.00
Canadian $ Down 39 tick @ 88.00 lowest in 6 months
VIX UP 1.56% @ 16.23
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.16 following are green :
JCP EXPE YHOO PCLN KORS AAPL OWW
BABA LVS CMG EBAY V ONVO INVN
HIMX NFLX SBUX WLT WYNN
TRIP MLNX.....
BLOG does NOT give buy or sell.
Saleem
Monday, September 29, 2014
Indices closed down .14% to .25%.....
Indices recovered most of the losses by close.
S&P 500 @ 1977.80, low 1964.04, high 1981.28
RSI @ 46.34
CMF @ 0.068
Internals were :
Down volume led by 2.64 to 1 in NYSE & 1.13 to 1 in Nasdaq
Declining stocks led by 1.42 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk lows were leading by 134 in NYSE & 83 in Nasdaq
VIX UP 7.61% @ 15.98
Oil @ $94.57
Gold @ $1218.80
AH Futures down
AH Asian markets Mixed
AH Oil & Gold Down
About market, TAPE faced another uncertainty from Hong Kong and reacted to it. S&P 500 manged to close above 50 DMA which is very encouraging. Nasdaq had the best recovery and many famous names closed green. I expect market to continue fighting negativity & actually close green for a "turnaround Tuesday".
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1977.80, low 1964.04, high 1981.28
RSI @ 46.34
CMF @ 0.068
Internals were :
Down volume led by 2.64 to 1 in NYSE & 1.13 to 1 in Nasdaq
Declining stocks led by 1.42 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk lows were leading by 134 in NYSE & 83 in Nasdaq
VIX UP 7.61% @ 15.98
Oil @ $94.57
Gold @ $1218.80
AH Futures down
AH Asian markets Mixed
AH Oil & Gold Down
About market, TAPE faced another uncertainty from Hong Kong and reacted to it. S&P 500 manged to close above 50 DMA which is very encouraging. Nasdaq had the best recovery and many famous names closed green. I expect market to continue fighting negativity & actually close green for a "turnaround Tuesday".
BLOG does NOT give buy or sell.
Saleem
Indices down .53% to .61%......
TAPE is under selling pressure due to Hong Kong unrest.
S&P 500 @ 1971.85, low 1964.04, high 1979.95
Internals are negative by almost 2 to 1
Oil UP 88 cents
Gold UP $3.20
Canadian $ UP 6 tick @ 88.56
VIX UP 10.51% @ 16.41
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.31 following are green :
MU SWIR AMCC WUBA BIDU DNKN EXPE
CMG YUM HIMX ARUN CRUS PANW
SBUX MCD CCJ DATA WLT
MLNX...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1971.85, low 1964.04, high 1979.95
Internals are negative by almost 2 to 1
Oil UP 88 cents
Gold UP $3.20
Canadian $ UP 6 tick @ 88.56
VIX UP 10.51% @ 16.41
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.31 following are green :
MU SWIR AMCC WUBA BIDU DNKN EXPE
CMG YUM HIMX ARUN CRUS PANW
SBUX MCD CCJ DATA WLT
MLNX...
BLOG does NOT give buy or sell.
Saleem
Sunday, September 28, 2014
We are ready to rally.....
TAPE has seen relentless selling in last 4 trading days, Dow had a swing of triple digits in last five trading days.
Here is the damage in each most watched barometer :
Down down 2.33%
S&P 500 down 2.64%
Nasdaq down 3.12%
VIX UP 44.88%
All of the above numbers are from last five trading days from low to highs or high to lows......
This correction was very painful, as sharp downward pressure felt in equities.
BUT...the good news is .....it is all in the past....
NOW...we are all set to start repairing the damage....
US$ has taken toll in all commodities, base metals, energy, natural gas & my favorite Gold....but there may be a silver lining...US$ is @ 4 year high and may need a well deserved pullback, which may give damaged sectors an uplift.
Bears are stuck @ 15.3%...extremely bullish indicator, & institutional money managers are also bearish and have low allocation...all pointing to a "reliable contrary indicator"
We are approaching strong equity season a bit early, starting next week we may be starting a rally due to last week pullback.
SO...it is a good idea to reap the reward of your strategy by being long ......
We found support near 50 DMA & reached the lower end of trading range or channel last Thursday....
Indices technicals are healthy now & may be heading towards new series of all time highs......
SO..position accordingly & stay the course till 1st week of January 2015.....
BLOG does NOT give buy or sell.
Saleem
Here is the damage in each most watched barometer :
Down down 2.33%
S&P 500 down 2.64%
Nasdaq down 3.12%
VIX UP 44.88%
All of the above numbers are from last five trading days from low to highs or high to lows......
This correction was very painful, as sharp downward pressure felt in equities.
BUT...the good news is .....it is all in the past....
NOW...we are all set to start repairing the damage....
US$ has taken toll in all commodities, base metals, energy, natural gas & my favorite Gold....but there may be a silver lining...US$ is @ 4 year high and may need a well deserved pullback, which may give damaged sectors an uplift.
Bears are stuck @ 15.3%...extremely bullish indicator, & institutional money managers are also bearish and have low allocation...all pointing to a "reliable contrary indicator"
We are approaching strong equity season a bit early, starting next week we may be starting a rally due to last week pullback.
SO...it is a good idea to reap the reward of your strategy by being long ......
We found support near 50 DMA & reached the lower end of trading range or channel last Thursday....
Indices technicals are healthy now & may be heading towards new series of all time highs......
SO..position accordingly & stay the course till 1st week of January 2015.....
BLOG does NOT give buy or sell.
Saleem
Friday, September 26, 2014
Indices closed UP .86% to 1.02%...NICE !!!!
TAPE dealt with good news on US GDP growth of 4.6% & higher consumer confidence. Indices closed in upper range.
S&P 500 @ 1982.85, high 1986.37, 1966.22
RSI @ 48.07
CMF @ 0.076
Internals were :
UP volume led by 3.46 to 1 in NYSE & 4.35 to 1 in Nasdaq
Advancing stocks led by 2.73 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk lows were leading by 116 in NYSE & 53 in Nasdaq
VIX Down 5.05% @ 14.85
Oil @ $93.54
Gold @ $1215.40
Canadian $ @ 88.36..lowest level this year...
Stocks which were UP 1% or more included LULU MU NXPI SWIR TSL BBRY GTAT EXPE YHOO LNKD AAPL
GRPN BABA FB LVS KOG JKS DNKN CMG
EBAY YUM FFIV WB FSLRHIMX SNDK
AMCC LSCC C NFLX PANW M SPLK
SBUX TRLA Z WYNN TRIP....
Here is my weighting :
LULU 23.50%
SWIR 21.18%
MU 19.81%
EGO 19.42%
NXPI 11.10%
AKS 4.99%
Exposure 195%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1982.85, high 1986.37, 1966.22
RSI @ 48.07
CMF @ 0.076
Internals were :
UP volume led by 3.46 to 1 in NYSE & 4.35 to 1 in Nasdaq
Advancing stocks led by 2.73 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk lows were leading by 116 in NYSE & 53 in Nasdaq
VIX Down 5.05% @ 14.85
Oil @ $93.54
Gold @ $1215.40
Canadian $ @ 88.36..lowest level this year...
Stocks which were UP 1% or more included LULU MU NXPI SWIR TSL BBRY GTAT EXPE YHOO LNKD AAPL
GRPN BABA FB LVS KOG JKS DNKN CMG
EBAY YUM FFIV WB FSLRHIMX SNDK
AMCC LSCC C NFLX PANW M SPLK
SBUX TRLA Z WYNN TRIP....
Here is my weighting :
LULU 23.50%
SWIR 21.18%
MU 19.81%
EGO 19.42%
NXPI 11.10%
AKS 4.99%
Exposure 195%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, September 25, 2014
Indices closed down 1.54% to 1.94%.....
Indices were down sharply.
S&P 500 @ 1965.99, high 1997.32
RSI @ 41.26
CMF @ 0.065
Internals were :
Down volume led by 10.41 to 1 in NYSE & 8.99 to 1 in Nasdaq
Declining stocks led by 4.83 to 1 in NYSE & 4.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 174 in NYSE & 131 in Nasdaq
VIX UP 17.86% @ 15.64
Oil @ $92.53
Gold @ $1221.90
AH ER MU UP 3.82% , NKE UP 7.34%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was under severe selling pressure until close , S&P 500 closed @ the lowest point. We have broken key support like 50 DMA in Nasdaq & S&P 500, Dow is barely above 50 DMA, which reflects deeply oversold condition. After hour earnings were better than expected from MU & NKE which should give us a lift. This remains a very difficult TAPE and we may have another 2 week of uncertainty.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1965.99, high 1997.32
RSI @ 41.26
CMF @ 0.065
Internals were :
Down volume led by 10.41 to 1 in NYSE & 8.99 to 1 in Nasdaq
Declining stocks led by 4.83 to 1 in NYSE & 4.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 174 in NYSE & 131 in Nasdaq
VIX UP 17.86% @ 15.64
Oil @ $92.53
Gold @ $1221.90
AH ER MU UP 3.82% , NKE UP 7.34%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was under severe selling pressure until close , S&P 500 closed @ the lowest point. We have broken key support like 50 DMA in Nasdaq & S&P 500, Dow is barely above 50 DMA, which reflects deeply oversold condition. After hour earnings were better than expected from MU & NKE which should give us a lift. This remains a very difficult TAPE and we may have another 2 week of uncertainty.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.37% to 1.77%....
Indices are breaking support all over.
S&P 500 @ 1969.81, low 1966.76, high 1997.32 well below 50 DMA which is @ 1976.34
Internals are negative by 5 to 1
Oil Down 63 cents
Gold UP $4.10
Canadian $ Down 39 tick @ 89.06..lowest level in 6 months...
VIX UP 21.25% @ 16.09...high 16.69..highest in several months..
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.33 following are green :
GG ABX AEM .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1969.81, low 1966.76, high 1997.32 well below 50 DMA which is @ 1976.34
Internals are negative by 5 to 1
Oil Down 63 cents
Gold UP $4.10
Canadian $ Down 39 tick @ 89.06..lowest level in 6 months...
VIX UP 21.25% @ 16.09...high 16.69..highest in several months..
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.33 following are green :
GG ABX AEM .....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 24, 2014
Indices closed UP .78% to 1.03%...NICE !!!!
Indices closed near high of the day.
S&P 500 @ 1998.30, high 1999.30, low 1978.63
RSI @ 53.82
CMF @ 0.133
Internals were :
UP volume led by 2.00 to 1 in NYSE & 2.92 to 1 in Nasdaq
Advancing stocks led by 1.44 to 1 in NYSE & 2.01 to 1 in Nasdaq
Net new 52 wk lows were leading by 105 in NYSE & 91 in Nasdaq
VIX Down 11.12% @ 13.27
Oil @ $92.80
Gold @ $1219.50
Stocks which were UP 1% or more included LULU MU SWIR
JCP YY YELP TWTR EXPE YHOO LNKD BIDU PCLN
GOOGL BABA WUBA COH KOG CSIQ AMZN
CMG SINA DNKN FFIV MA WB FSLR
SPWR ONVO YNDX HIMX ARUN
SNDK AMCC JDSU NFLX M
PANW SPLK SBUX MCD
DATA CSOD WYNN
GS TRIP MLNX....
AH ER JBL UP 4.46%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, tape was strong on oversold condition. Internals improved but still weak on 52 wk picture. We need another follow through day to see IF this rally has legs. Diversified portfolio has a better chance of surviving volatility.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1998.30, high 1999.30, low 1978.63
RSI @ 53.82
CMF @ 0.133
Internals were :
UP volume led by 2.00 to 1 in NYSE & 2.92 to 1 in Nasdaq
Advancing stocks led by 1.44 to 1 in NYSE & 2.01 to 1 in Nasdaq
Net new 52 wk lows were leading by 105 in NYSE & 91 in Nasdaq
VIX Down 11.12% @ 13.27
Oil @ $92.80
Gold @ $1219.50
Stocks which were UP 1% or more included LULU MU SWIR
JCP YY YELP TWTR EXPE YHOO LNKD BIDU PCLN
GOOGL BABA WUBA COH KOG CSIQ AMZN
CMG SINA DNKN FFIV MA WB FSLR
SPWR ONVO YNDX HIMX ARUN
SNDK AMCC JDSU NFLX M
PANW SPLK SBUX MCD
DATA CSOD WYNN
GS TRIP MLNX....
AH ER JBL UP 4.46%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold Down
About market, tape was strong on oversold condition. Internals improved but still weak on 52 wk picture. We need another follow through day to see IF this rally has legs. Diversified portfolio has a better chance of surviving volatility.
BLOG does NOT give buy or sell.
Saleem
Indices UP .56% to .80%.....NICE !!!!
After 3 days of selling indices are near high of the day.
S&P 500 @ 1993.90, high 1994.75, low 1978.63...came awfully close to 50 DMA @ 1976.49...
Internals are positive
Oil UP 67 cents
Gold Down $4.70
Canadian $ UP 12 tick 89.37
VIX Down 7.84% @ 13.76
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are UP
@ 2.19 following are red :
AKD EGO NXPI TSL QIHU GTAT GG OTEX
AAPL OWW RVBD LEN SU INVN BSFT
ZNGA X STLD ABX SLW AEM MGA
MS WLT TRLA AGU.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1993.90, high 1994.75, low 1978.63...came awfully close to 50 DMA @ 1976.49...
Internals are positive
Oil UP 67 cents
Gold Down $4.70
Canadian $ UP 12 tick 89.37
VIX Down 7.84% @ 13.76
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are UP
@ 2.19 following are red :
AKD EGO NXPI TSL QIHU GTAT GG OTEX
AAPL OWW RVBD LEN SU INVN BSFT
ZNGA X STLD ABX SLW AEM MGA
MS WLT TRLA AGU.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 23, 2014
Indices closed down .42% to .68%.....
Indices closed down @ lowest point of the day.
S&P 500 @ 1982.77, high 1995.41
RSI @ 46.56
CMF @ 0.067
Internals were :
Down volume led by 2.74 to 1 in NYSE & 1.96 to 1 in Nasdaq
Declining stocks led by 2.44 to 1 in NYSE & 2.35 to 1 in Nasdaq
Net new 52 wk lows were leading by 116 in NYSE & 107 in Nasdaq
VIX UP 9.06% @ 14.93.....highest level in weeks
Oil @ $91.52
Gold @ $1222.00
AH ER BBBY UP 7.75%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was reacting more to US & Allies bombing ISIS position in Syria than better PMI report from China. Dow & S&P 500 closing @ absolute low of the day while Nasdaq missing by few ticks is a rare event. Indices are near short term support and should rally to mitigate oversold conditions.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1982.77, high 1995.41
RSI @ 46.56
CMF @ 0.067
Internals were :
Down volume led by 2.74 to 1 in NYSE & 1.96 to 1 in Nasdaq
Declining stocks led by 2.44 to 1 in NYSE & 2.35 to 1 in Nasdaq
Net new 52 wk lows were leading by 116 in NYSE & 107 in Nasdaq
VIX UP 9.06% @ 14.93.....highest level in weeks
Oil @ $91.52
Gold @ $1222.00
AH ER BBBY UP 7.75%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was reacting more to US & Allies bombing ISIS position in Syria than better PMI report from China. Dow & S&P 500 closing @ absolute low of the day while Nasdaq missing by few ticks is a rare event. Indices are near short term support and should rally to mitigate oversold conditions.
BLOG does NOT give buy or sell.
Saleem
Indices down .26% to .51%.....
Selling continues for third day, despite better PMI data from China.
S&P 500 @ 1986.36, low 1984.84, high 1995.41
Internals are negative by minimum 2 to 1
Oil UP 77 cents
Gold UP $5.70
Canadian $ Down 23 tick @ 89.34...5 month low against US$
VIX UP %.84% @ 14.49
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.19 following are green :
AKS EGO LULU MU NXPI JCP GTAT GG
YY EXPE AAPL FB WUBA COH LVS
CSIQ EBAY FSLR SPWR INVN X
ABX AEM MGA WYNN AGU.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1986.36, low 1984.84, high 1995.41
Internals are negative by minimum 2 to 1
Oil UP 77 cents
Gold UP $5.70
Canadian $ Down 23 tick @ 89.34...5 month low against US$
VIX UP %.84% @ 14.49
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.19 following are green :
AKS EGO LULU MU NXPI JCP GTAT GG
YY EXPE AAPL FB WUBA COH LVS
CSIQ EBAY FSLR SPWR INVN X
ABX AEM MGA WYNN AGU.....
BLOG does NOT give buy or sell.
Saleem
Monday, September 22, 2014
Indices closed down .62% to 1.14%.....
Indices were under selling pressure from open & closed down.
S&P 500 @ 1994.29, low 1991.01, 2009.08
RSI @ 52.21
CMF @ 0.132
Internals were :
Down volume led by 6.17 to 1 in NYSE & 5.49 to 1 in Nasdaq
Declining stocks led by 4.98 to 1 in NYSE & 4.02 to 1 in Nasdaq
Net new 52 wk lows were leading by 130 in NYSE & 105 in Nasdaq
VIX UP 13.05% @ 13.69, high today 13.98
Oil @ $91.52
Gold @ $1217.90
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was extremely weak with internals weak enough to be oversold in last two sessions. Tonight IBD changed its market outlook to "uptrend under pressure". Chinese PMI came in better than expected @ 50.5 in September, expectations were 50.00, August was 50.2. Chinese slowing growth was a concern for this selling, hopefully tonight's number may change that conclusion.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1994.29, low 1991.01, 2009.08
RSI @ 52.21
CMF @ 0.132
Internals were :
Down volume led by 6.17 to 1 in NYSE & 5.49 to 1 in Nasdaq
Declining stocks led by 4.98 to 1 in NYSE & 4.02 to 1 in Nasdaq
Net new 52 wk lows were leading by 130 in NYSE & 105 in Nasdaq
VIX UP 13.05% @ 13.69, high today 13.98
Oil @ $91.52
Gold @ $1217.90
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was extremely weak with internals weak enough to be oversold in last two sessions. Tonight IBD changed its market outlook to "uptrend under pressure". Chinese PMI came in better than expected @ 50.5 in September, expectations were 50.00, August was 50.2. Chinese slowing growth was a concern for this selling, hopefully tonight's number may change that conclusion.
BLOG does NOT give buy or sell.
Saleem
Indices down .51% to 1.33%.....
Indices were overbought to begin with, then China said no need for stimulus based on single data, and G 20 finance ministers are warning, that financial markets may be headed for a slump.
S&P 500 @ 19993.90, low 1992.11, high 2009.08
Internals are negative by minimum 4 to 1
Oil Down 84 cents
Gold UP 90 cents
Canadian $ Down 66 cents @ 89.73
VIX UP 14.04% @ 13.81
In my portfolio :
Sold FB @ $77.19
Bought NXPI @ $72.20
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.19 PM following are green :
OTEX WUBA .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 19993.90, low 1992.11, high 2009.08
Internals are negative by minimum 4 to 1
Oil Down 84 cents
Gold UP 90 cents
Canadian $ Down 66 cents @ 89.73
VIX UP 14.04% @ 13.81
In my portfolio :
Sold FB @ $77.19
Bought NXPI @ $72.20
Portfolio AKS EGO LULU MU NXPI SWIR
Most stocks are down
@ 2.19 PM following are green :
OTEX WUBA .....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 21, 2014
TAPE overbought near term.....
TAPE got all the positive news in all issues, Fed was supportive, Scotland gave a decided NO & BABA hype is alive & well......no wonder Nasdaq reversed & closed weak on Friday.
Now we are entering digestive phase for all the good news we got.....
We may correct to 2000 which is first support, to all the way down to 1950 which is a correction of 69.26 points or 3.43% from high of 2019.26 in S&P 500....
We may be looking @ 2 weeks of weaker action in TAPE, form week of October 6th, we may be looking @ stability to higher TAPE action.....
Many sectors are overbought, thus reversed on Friday.
This TAPE has been very profitable for many, thus it is important to be ready for a pullback.
Booking profit is the best strategy.....
Pruning weaker performer is a smart strategy..
Buying strong stocks on weakness is a good move
Overall, not many changes should be made in Portfolio, as this TAPE has surprised everyone with short weakness & UP move soon afterwards.....
Mid October to Mid January is the strongest period for stocks.......
SO...take everything in stride for next 2 to 3 weeks......
Strongest three months in stock markets are coming your way....
Good luck with your strategy !
BLOG does NOT give buy or sell.
Saleem
Now we are entering digestive phase for all the good news we got.....
We may correct to 2000 which is first support, to all the way down to 1950 which is a correction of 69.26 points or 3.43% from high of 2019.26 in S&P 500....
We may be looking @ 2 weeks of weaker action in TAPE, form week of October 6th, we may be looking @ stability to higher TAPE action.....
Many sectors are overbought, thus reversed on Friday.
This TAPE has been very profitable for many, thus it is important to be ready for a pullback.
Booking profit is the best strategy.....
Pruning weaker performer is a smart strategy..
Buying strong stocks on weakness is a good move
Overall, not many changes should be made in Portfolio, as this TAPE has surprised everyone with short weakness & UP move soon afterwards.....
Mid October to Mid January is the strongest period for stocks.......
SO...take everything in stride for next 2 to 3 weeks......
Strongest three months in stock markets are coming your way....
Good luck with your strategy !
BLOG does NOT give buy or sell.
Saleem
Friday, September 19, 2014
Indices closed mixed.....
TAPE was under selling pressure after open. BABA was the only game in town and is being pumped UP big time by institutional money. DOW & S&P 500 made new all time highs intraday. By the end of the day only Dow closed green. Internals were negative and showed sign of reversal again.
S&P 500 @ 2010.40, low 2006.59, high 2019.26
RSI @ 61.99
CMF @ 0.163
Internals were :
Down volume led by 1.34 to 1 in NYSE & 1.89 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new 52 wk highs were leading by 19 in NYSE & lows by 22 in Nasdaq
VIX UP .67% @ 12.11, low was 11.52, high 12.61
Oil @ $92.41
Gold $1216.60
Canadian $ 90.31
Stocks which closed green included FB
BBRY TWTR LNKD GOOGL YUM
GRPN BABA AMZN FEYE HIMX
PANW SBUX MCD DATA CSOD
WLT TRIP...
Added 45% EGO @ $7.16
Here is my weighting :
LULU 22.47%
SWIR 21.76%
EGO 18.51%
MU 17.61%
FB 14.40%
AKS 5.25%
Exposure 200%
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2010.40, low 2006.59, high 2019.26
RSI @ 61.99
CMF @ 0.163
Internals were :
Down volume led by 1.34 to 1 in NYSE & 1.89 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new 52 wk highs were leading by 19 in NYSE & lows by 22 in Nasdaq
VIX UP .67% @ 12.11, low was 11.52, high 12.61
Oil @ $92.41
Gold $1216.60
Canadian $ 90.31
Stocks which closed green included FB
BBRY TWTR LNKD GOOGL YUM
GRPN BABA AMZN FEYE HIMX
PANW SBUX MCD DATA CSOD
WLT TRIP...
Added 45% EGO @ $7.16
Here is my weighting :
LULU 22.47%
SWIR 21.76%
EGO 18.51%
MU 17.61%
FB 14.40%
AKS 5.25%
Exposure 200%
Next post by 2 PM Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, September 18, 2014
Indices closed UP .49% to .68%....NICE !!!!
Indices closed near high of the day.
S&P 500 @ 2011.36, high 2012.34, low 2003.07
RSI @ 62.64
CMF @ 0.231
Internals were :
UP volume led by 1.39 to 1 in NYSE & 1.99 to 1 in Nasdaq
Advancing stocks led by 1.53 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 40 in NYSE & 18 in Nasdaq
VIX Down 4.90% @ 12.03
Oil @ $93.07
Gold @ $1226.90
Stocks which were UP 1% or more included MU SWIR
KORS LVS BIDU CMG EBAY FFIV PCLN MA
INVN BSFT HIMX ARUN CRUS SNDK C
BRCM AMCC LSCC JDSU NXPI MS
GMCR WYNN GS TRIP.....
AH ER ...ORCL Down 1.81%, RHT Down 3.07%
TIBX Down 3.56%, HIMX UP 2.58%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE was strong with Dow & S&P 500 @ all time highs. Tonight IBD is changing its market outlook to " market in confirmed uptrend ".Scotland is saying NO based on early count. It is all about BABA, Jimmy the Cramer saying buy @ $80, i am saying paying over $75 will be a mistake. Nasdaq should make a new 14 year high on Friday. Avoid BABA linked companies unless they are growing in Sales & EPS.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2011.36, high 2012.34, low 2003.07
RSI @ 62.64
CMF @ 0.231
Internals were :
UP volume led by 1.39 to 1 in NYSE & 1.99 to 1 in Nasdaq
Advancing stocks led by 1.53 to 1 in NYSE & 1.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 40 in NYSE & 18 in Nasdaq
VIX Down 4.90% @ 12.03
Oil @ $93.07
Gold @ $1226.90
Stocks which were UP 1% or more included MU SWIR
KORS LVS BIDU CMG EBAY FFIV PCLN MA
INVN BSFT HIMX ARUN CRUS SNDK C
BRCM AMCC LSCC JDSU NXPI MS
GMCR WYNN GS TRIP.....
AH ER ...ORCL Down 1.81%, RHT Down 3.07%
TIBX Down 3.56%, HIMX UP 2.58%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE was strong with Dow & S&P 500 @ all time highs. Tonight IBD is changing its market outlook to " market in confirmed uptrend ".Scotland is saying NO based on early count. It is all about BABA, Jimmy the Cramer saying buy @ $80, i am saying paying over $75 will be a mistake. Nasdaq should make a new 14 year high on Friday. Avoid BABA linked companies unless they are growing in Sales & EPS.
BLOG does NOT give buy or sell.
Saleem
Indices UP .39% to .60%.....NICE !!!!
TAPE is strong & Dow & S&P 500 hit all time high, Nasdaq is close to making another 14 year high which may come tomorrow.
S&P 500 @ 2009.26, high 2011.79, low 2003.07
Internals are positive
Oil Down $1.48
Gold Down $8.90
Canadian $ UP 47 tick @ 90.51
VIX Down 3.40% @ 12.22
Portfolio AKS EGO FB LULU MU SWIR
Most stocks are UP
@ 2.32 following are red :
AKS EGO BBRY JCP QIHU GTAT GG YY
GRPN YHOO OWW WUBA KOG JKS
CSIQ DNKN FEYE HIMX MCD
ABX SLW AEM DATA
CSOD WLT....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2009.26, high 2011.79, low 2003.07
Internals are positive
Oil Down $1.48
Gold Down $8.90
Canadian $ UP 47 tick @ 90.51
VIX Down 3.40% @ 12.22
Portfolio AKS EGO FB LULU MU SWIR
Most stocks are UP
@ 2.32 following are red :
AKS EGO BBRY JCP QIHU GTAT GG YY
GRPN YHOO OWW WUBA KOG JKS
CSIQ DNKN FEYE HIMX MCD
ABX SLW AEM DATA
CSOD WLT....
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 17, 2014
Indices closed UP .13% to .21%......NICE !!!!
Fed had no surprise in its statement or Q & A, which was a surprise to people in the know.
S&P 500 @ 2001.57, high 2010.74, low 1993.29
RSI @ 58.52
CMF @ 0.217
Internals were :
UP volume led by 1.04 to 1 in NYSE & 1.59 to 1 in Nasdaq
Advancing stocks led by 1.05 to 1 in NYSE & 1.31 to 1 in Nasdaq
Net new 52 wk highs were leading by 22 in NYSE & 4 in Nasdaq
VIX Down .63% @ 12.65
Oil @ $94.42
Gold @ $1235.90
Stocks which were UP 1% or more included AKS LULU MU SWIR TSL QIHU BIDU LVS LEN JKS CSIQ FEYE SPWR FSLR INVN HIMX ZNGA BRCM AMCC X STLD CCJ
MS WYNN.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Indices made back to back UP move to confirm this uptrend & internals are much better. Dow made a new all time high which could be a leading indicator for other indices to follow. Solar, Steels were very strong. Follow the money & join the trend. S&P 500 almost made it into new all time high but missed by few ticks. Stay the course, Scotland is the next news event which does NOT impact US @ all.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2001.57, high 2010.74, low 1993.29
RSI @ 58.52
CMF @ 0.217
Internals were :
UP volume led by 1.04 to 1 in NYSE & 1.59 to 1 in Nasdaq
Advancing stocks led by 1.05 to 1 in NYSE & 1.31 to 1 in Nasdaq
Net new 52 wk highs were leading by 22 in NYSE & 4 in Nasdaq
VIX Down .63% @ 12.65
Oil @ $94.42
Gold @ $1235.90
Stocks which were UP 1% or more included AKS LULU MU SWIR TSL QIHU BIDU LVS LEN JKS CSIQ FEYE SPWR FSLR INVN HIMX ZNGA BRCM AMCC X STLD CCJ
MS WYNN.....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Indices made back to back UP move to confirm this uptrend & internals are much better. Dow made a new all time high which could be a leading indicator for other indices to follow. Solar, Steels were very strong. Follow the money & join the trend. S&P 500 almost made it into new all time high but missed by few ticks. Stay the course, Scotland is the next news event which does NOT impact US @ all.
BLOG does NOT give buy or sell.
Saleem
Indices UP .32% to .52%.....NICE !!!!
TAPE is reacting positively & near high of the day to fed statement of no change in language.
S&P 500 @ 2007.12, high 2007.67, low 1993.29
Internals are positive
Oil Down 75 cents
Gold $5.10
Canadian $ UP 16 tick @ 90.49
VIX Down 4.87% @ 12.11
Portfolio AKS EGO FB LULU MU SWIR
Most stocks are UP
@ 2.25 following are red :
GTAT OTEX YY YELP EXPE LNKD KORS OWW
WUBA AMZN SNKN CMG SU MA V YNDX
ARUN MCD ABX SLW AEM CSOD....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2007.12, high 2007.67, low 1993.29
Internals are positive
Oil Down 75 cents
Gold $5.10
Canadian $ UP 16 tick @ 90.49
VIX Down 4.87% @ 12.11
Portfolio AKS EGO FB LULU MU SWIR
Most stocks are UP
@ 2.25 following are red :
GTAT OTEX YY YELP EXPE LNKD KORS OWW
WUBA AMZN SNKN CMG SU MA V YNDX
ARUN MCD ABX SLW AEM CSOD....
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 16, 2014
Indices closed UP .59% to .75%....NICE !!!!
Indices closed near high of the day.
S&P 500 @ 1998.98, high 2002.28, low 1979.06
RSI @ 57.37
CMF @ 0.261
Internals were :
UP volume led by 2.77 to 1 in NYSE & 2.10 to 1 in Nasdaq
Advancing stocks led by 1.79 to 1 in NYSE & 1.17 to 1 in Nasdaq
Net new 52 wk lows were leading by 30 in NYSE & 59 in Nasdaq
VIX Down 9.84% @ 12.73
Oil @ 94.88
Gold @ $1236.70
Canadian $ UP 61 tick @ 90.10
Stovks which were UP 2% or more included AKS EGO FB MU
NXPI YY TWTR LNKD BIDU TSLA WUBA YNDX
CRUS ZNGA SNDK GMCR X CCJ DATA
LNKD TRLA Z MLNX...
AH News...ADBE Down 4.59%, AKS UP 8.92%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE rallied on Chinese stimulus through Banks & rethink on Fed policy statement. 2 PM Fed statement will be in focus,as stated before, i expect no real change except nuance & play of words, net net no change in statement.Internals of the market remains on the weak side, it may take another day of UP move to show real change in internals. High beta stocks came into play which is a good thing.
BLOG does NOT give buy or sell.
PS....got stuck in traffic, so missed PM post.
Saleem
S&P 500 @ 1998.98, high 2002.28, low 1979.06
RSI @ 57.37
CMF @ 0.261
Internals were :
UP volume led by 2.77 to 1 in NYSE & 2.10 to 1 in Nasdaq
Advancing stocks led by 1.79 to 1 in NYSE & 1.17 to 1 in Nasdaq
Net new 52 wk lows were leading by 30 in NYSE & 59 in Nasdaq
VIX Down 9.84% @ 12.73
Oil @ 94.88
Gold @ $1236.70
Canadian $ UP 61 tick @ 90.10
Stovks which were UP 2% or more included AKS EGO FB MU
NXPI YY TWTR LNKD BIDU TSLA WUBA YNDX
CRUS ZNGA SNDK GMCR X CCJ DATA
LNKD TRLA Z MLNX...
AH News...ADBE Down 4.59%, AKS UP 8.92%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE rallied on Chinese stimulus through Banks & rethink on Fed policy statement. 2 PM Fed statement will be in focus,as stated before, i expect no real change except nuance & play of words, net net no change in statement.Internals of the market remains on the weak side, it may take another day of UP move to show real change in internals. High beta stocks came into play which is a good thing.
BLOG does NOT give buy or sell.
PS....got stuck in traffic, so missed PM post.
Saleem
Monday, September 15, 2014
Indices closed mixed......
TAPE was in serious trouble from open & Nasdaq got the brunt of the selling.
S&P 500 @ 1984.13, low 1978.48, high 1987.18
RSI @ 49.97
CMF @ 0.271
Internals were :
Down volume led by 1.44 to 1 in NYSE & 5.44 to 1 in Nasdaq
Declining stocks led by 1.97 to 1 in NYSE & 3.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 48 in NYSE & 53 in Nasdaq
VIX UP 6.09% @ 14.12
Oil @ $92.92
Gold @ $1235.10
In my portfolio :
Sold MITL @ $9.79
Sold RAD @ $6.41
Bought SWIR @ $28.73
Portfolio AKS EGO FB LULU MU SWIR
Exposure 193%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, tonight IBD is changing its market outlook to "market under pressure". Nasdaq internals were horrible with 5.44 to 1 in selling volume, this may have been overdone. We should see some stability in Nasdaq going forward. Today's selling was pretty intense & sudden sharp drop in high beta stocks. Stay with stronger stocks & prune weak stocks which is what i did today.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1984.13, low 1978.48, high 1987.18
RSI @ 49.97
CMF @ 0.271
Internals were :
Down volume led by 1.44 to 1 in NYSE & 5.44 to 1 in Nasdaq
Declining stocks led by 1.97 to 1 in NYSE & 3.27 to 1 in Nasdaq
Net new 52 wk lows were leading by 48 in NYSE & 53 in Nasdaq
VIX UP 6.09% @ 14.12
Oil @ $92.92
Gold @ $1235.10
In my portfolio :
Sold MITL @ $9.79
Sold RAD @ $6.41
Bought SWIR @ $28.73
Portfolio AKS EGO FB LULU MU SWIR
Exposure 193%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, tonight IBD is changing its market outlook to "market under pressure". Nasdaq internals were horrible with 5.44 to 1 in selling volume, this may have been overdone. We should see some stability in Nasdaq going forward. Today's selling was pretty intense & sudden sharp drop in high beta stocks. Stay with stronger stocks & prune weak stocks which is what i did today.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Nasdaq is taking a big hit today, while Dow is green, all indices are still above 50 DMA.
S&P 500 @ 1983.71, low 1978.48, high 1986.04
Internals are NYSE negative 2 to 1 , Nasdaq negative by over 3 to 1
Oil UP 60 cents
Gold UP $3.30
Canadian $ UP 55 tick @ 89.43
VIX UP 3.68% @ 13.80, high 14.19
Portfolio AKS EGO FB LULU MU MITL RAD
Most stocks are down
@ 2.33 following are green :
AKS BBRY GG AAPL COH KOG LEN DNKN
SU YUM BRCM JDSU FNSR M GMCR
MCD ABX AEM MS GS AGU
MLNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1983.71, low 1978.48, high 1986.04
Internals are NYSE negative 2 to 1 , Nasdaq negative by over 3 to 1
Oil UP 60 cents
Gold UP $3.30
Canadian $ UP 55 tick @ 89.43
VIX UP 3.68% @ 13.80, high 14.19
Portfolio AKS EGO FB LULU MU MITL RAD
Most stocks are down
@ 2.33 following are green :
AKS BBRY GG AAPL COH KOG LEN DNKN
SU YUM BRCM JDSU FNSR M GMCR
MCD ABX AEM MS GS AGU
MLNX.....
BLOG does NOT give buy or sell.
Saleem
Sunday, September 14, 2014
More downside coming ?
There are many negative forces in play which may impact TAPE in a negative way.
First, momentum is broken & we made lower lows, not a healthy technical picture.
Pullbacks are minimum 4 percent area, we are far from it.....
Fed minutes on Wednesday may have language change to indicate stronger US economy but will word it cautiously by highlighting European & Chinese weakness...net net no change in timing of rate increase in this minute.....which will be a positive for the market.
Thursday is "Scotland vote"..i expect a NO win.....another positive for Euro & markets around the world.
Friday is "BABA" day...another huge positive...
SO negative TAPE until Wednesday 2 PM...then positive close Wednesday, Thursday & Friday....
Option Expiry may take its toll until Wednesday minute release.....
SO....plan according to early week weakness & positive from Wednesday close...
It is never easy on Wall Street, who could have guessed about Scotland issue ?
Nasdaq is looking healthiest among all indices which is a good thing, thanks to BABA fever....
Dow is the weakest and made deeper lower lows also, not a good thing, lower lows in Dow & S&P 500 were made on higher volume another red flag.....
SO..what to do is the question ?
Again, keep booking profit & buy the weakness which has worked for last 5 years....
Stay with strength & watch closely any weak stocks in your portfolio.
By end of the weak, we may be taking a deep sigh of relief from world events.
Good luck with your own strategy & analysis.
BLOG does NOT give buy or sell.
Saleem
First, momentum is broken & we made lower lows, not a healthy technical picture.
Pullbacks are minimum 4 percent area, we are far from it.....
Fed minutes on Wednesday may have language change to indicate stronger US economy but will word it cautiously by highlighting European & Chinese weakness...net net no change in timing of rate increase in this minute.....which will be a positive for the market.
Thursday is "Scotland vote"..i expect a NO win.....another positive for Euro & markets around the world.
Friday is "BABA" day...another huge positive...
SO negative TAPE until Wednesday 2 PM...then positive close Wednesday, Thursday & Friday....
Option Expiry may take its toll until Wednesday minute release.....
SO....plan according to early week weakness & positive from Wednesday close...
It is never easy on Wall Street, who could have guessed about Scotland issue ?
Nasdaq is looking healthiest among all indices which is a good thing, thanks to BABA fever....
Dow is the weakest and made deeper lower lows also, not a good thing, lower lows in Dow & S&P 500 were made on higher volume another red flag.....
SO..what to do is the question ?
Again, keep booking profit & buy the weakness which has worked for last 5 years....
Stay with strength & watch closely any weak stocks in your portfolio.
By end of the weak, we may be taking a deep sigh of relief from world events.
Good luck with your own strategy & analysis.
BLOG does NOT give buy or sell.
Saleem
Friday, September 12, 2014
Indices closed down .36% to .60%.....
Despite 14 year high in consumer confidence TAPE was sluggish on Fed statement concern.
S&P 500 @ 1985.54, low 1980.26, high 1996.74
RSI @ 50.75
CMF @ 0.266
Internals were :
Down volume led by 2.95 to 1 in NYSE & 1.70 to 1 in Nasdaq
Declining stocks led by 3.90 to 1 in NYSE & 1.98 to 1 in Nasdaq
Net new 52 wk lows were leading by 22 in NYSE & highs by 20 in Nasdaq
VIX UP 3.98% @ 13.31, high today 14.27
Oil @ $92.27
Gold @ $1231.50
Canadian $ @ 89.24...@ 6 months low on US$ strength
Stocks which closed green included EGO LULU MITL
TSL YHOO OTEX KORS GRPN CSIQ DNKN
EBAY FSLR SPWR YNDX CCJ DATA
CSOD MS GS AGU TRIP....
In my portfolio :
Bought AKS @ $9.26
Here is my weighting :
LULU 22.46%
MITL 17.93%
MU 16.79%
FB 13.75%
EGO 13.29%
RAD 10.93%
AKS 4.85%
Exposure 205%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1985.54, low 1980.26, high 1996.74
RSI @ 50.75
CMF @ 0.266
Internals were :
Down volume led by 2.95 to 1 in NYSE & 1.70 to 1 in Nasdaq
Declining stocks led by 3.90 to 1 in NYSE & 1.98 to 1 in Nasdaq
Net new 52 wk lows were leading by 22 in NYSE & highs by 20 in Nasdaq
VIX UP 3.98% @ 13.31, high today 14.27
Oil @ $92.27
Gold @ $1231.50
Canadian $ @ 89.24...@ 6 months low on US$ strength
Stocks which closed green included EGO LULU MITL
TSL YHOO OTEX KORS GRPN CSIQ DNKN
EBAY FSLR SPWR YNDX CCJ DATA
CSOD MS GS AGU TRIP....
In my portfolio :
Bought AKS @ $9.26
Here is my weighting :
LULU 22.46%
MITL 17.93%
MU 16.79%
FB 13.75%
EGO 13.29%
RAD 10.93%
AKS 4.85%
Exposure 205%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, September 11, 2014
Indices closed mixed....
S&P 500 & Nasdaq closed near high of the day, despite weak data from China & US.
S&P 500 @ 1997.45, high 1997.65, low 1985.93
RSI @ 57.79
CMF @ 0.338
Internals were :
UP volume led by 1.92 to 1 in NYSE & 1.71 to 1 in Nasdaq
Advancing stocks led by 1.33 to 1 in NYSE & 1.39 to 1 in Nasdaq
Net new 52 wk highs were leading by 2 in NYSE & by 20 in Nasdaq
VIX Down .62% @ 12.80
Oil @ $92.83
Gold @ $1239.00
Stocks which were UP 1% or more included EGO LULU MITL RAD NXPI AKS GTAT SWIR WUBA COH LVS KOG SINA BSFT ARUN AMCC LSCC CIEN JDSU FNSR BBRY JCP PANW SPLK X STLD AEM DATA CSOD MS WYNN
MLNX....
AH ER ULTA UP 14.37%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE action was half decent considering there was selling pressure from data which was not inflation friendly. Internals were better than yesterday. Despite Fed fear of language change TAPE handled it well. We need a decisive close for all indices to complete trend change. Rotation within sectors are happening & should be pursued.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1997.45, high 1997.65, low 1985.93
RSI @ 57.79
CMF @ 0.338
Internals were :
UP volume led by 1.92 to 1 in NYSE & 1.71 to 1 in Nasdaq
Advancing stocks led by 1.33 to 1 in NYSE & 1.39 to 1 in Nasdaq
Net new 52 wk highs were leading by 2 in NYSE & by 20 in Nasdaq
VIX Down .62% @ 12.80
Oil @ $92.83
Gold @ $1239.00
Stocks which were UP 1% or more included EGO LULU MITL RAD NXPI AKS GTAT SWIR WUBA COH LVS KOG SINA BSFT ARUN AMCC LSCC CIEN JDSU FNSR BBRY JCP PANW SPLK X STLD AEM DATA CSOD MS WYNN
MLNX....
AH ER ULTA UP 14.37%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE action was half decent considering there was selling pressure from data which was not inflation friendly. Internals were better than yesterday. Despite Fed fear of language change TAPE handled it well. We need a decisive close for all indices to complete trend change. Rotation within sectors are happening & should be pursued.
BLOG does NOT give buy or sell.
Saleem
Indices mixed
Indices are fighting back, to erase losses due to Fed fear of changing language in their statement next Wednesday, which is inevitable.
S&P 500 @ 1995.73, low 1985.93..made a higher low so far.
Internals are mixed
Oil UP $1.07
Gold Down $5.20
Canadian $ Down 1.11 cent @ 89.57
VIX Down .23% @ 12.85
Portfolio EGO FB LULU MU MITL RAD
Most stocks are UP
@ 2.36 following are red :
MU TSL QIHU YY YELP TWTR EXPE LNKD
BIDU TSLA PCLN GOOGL AAPL OWW
JKS CSIQ AMZN SU EBAY YUM V
MA NFLX SBUX SLW CCJ MGA
SPWR WLT TRLA Z AGU
TRIP.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1995.73, low 1985.93..made a higher low so far.
Internals are mixed
Oil UP $1.07
Gold Down $5.20
Canadian $ Down 1.11 cent @ 89.57
VIX Down .23% @ 12.85
Portfolio EGO FB LULU MU MITL RAD
Most stocks are UP
@ 2.36 following are red :
MU TSL QIHU YY YELP TWTR EXPE LNKD
BIDU TSLA PCLN GOOGL AAPL OWW
JKS CSIQ AMZN SU EBAY YUM V
MA NFLX SBUX SLW CCJ MGA
SPWR WLT TRLA Z AGU
TRIP.....
BLOG does NOT give buy or sell.
Saleem
LULU Beats on Q2 Sales & EPS & increases guidance.....NICE !!!!
LULU reported the following for Q2 :
Sales actual $390.7 million vs expectations of $376.80 million 13% year over year gain
EPS actual 33 cents vs expectations of 29 cents even whisper was 30 cents
Guidance for Q3 $422.50 million vs expectations of $421.85 million
EPS 36 cents to 38 cents vs expectations of 38 cents
LULU raising guidance for Full year Sales to $1.78 Billion to $1.80 Billion, EPS $1.72 to $1.77 per share......
Pre Market Bid $41.00 Ask $41.50 ...stock closed @ $38.39... UP $2.61 or UP 6.80%......
Conference call @ 9.00 AM
BLOG does NOT give buy or sell.
Saleem
Sales actual $390.7 million vs expectations of $376.80 million 13% year over year gain
EPS actual 33 cents vs expectations of 29 cents even whisper was 30 cents
Guidance for Q3 $422.50 million vs expectations of $421.85 million
EPS 36 cents to 38 cents vs expectations of 38 cents
LULU raising guidance for Full year Sales to $1.78 Billion to $1.80 Billion, EPS $1.72 to $1.77 per share......
Pre Market Bid $41.00 Ask $41.50 ...stock closed @ $38.39... UP $2.61 or UP 6.80%......
Conference call @ 9.00 AM
BLOG does NOT give buy or sell.
Saleem
Wednesday, September 10, 2014
Indices closed UP .32% to .75%.....NICE !!!!
Indices turned UP after finding support near 50 DMA in S&P 500.
S&P 500 @ 1995.69, high 1996.66, low 1982.99
RSI @ 56.97
CMF @ 0.323
Internals were :
UP volume led by 1.25 to 1 in NYSE & 2.17 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & 1.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 4 in NYSE & lows by 3
VIX Down 4.59% @ 12.88
Oil @ $91.67
Gold @ $1245.30
Stocks which were UP 1% or more MITL RAD
TSL YELP TWTR EXPE AAPL GRPN
OWW RVBD KOG JKS CSIQ FFIV
V ONVO ARUN ZNGA BRCM
JDSU NFLX PANW GMCR
SPLK MCD CCJ DATA
C CSOD MS TRLA
Z GS TRIP...
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE got many buyers near low of the day, Indices closed near high of the day which is a good sign for a follow through confirmation of this move. TAPE had a broad based participation & many sectors participated in this positive day. This pullback was only 1.40% in S&P 500. Only knock on today's TAPE is not so robust internals.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1995.69, high 1996.66, low 1982.99
RSI @ 56.97
CMF @ 0.323
Internals were :
UP volume led by 1.25 to 1 in NYSE & 2.17 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & 1.57 to 1 in Nasdaq
Net new 52 wk highs were leading by 4 in NYSE & lows by 3
VIX Down 4.59% @ 12.88
Oil @ $91.67
Gold @ $1245.30
Stocks which were UP 1% or more MITL RAD
TSL YELP TWTR EXPE AAPL GRPN
OWW RVBD KOG JKS CSIQ FFIV
V ONVO ARUN ZNGA BRCM
JDSU NFLX PANW GMCR
SPLK MCD CCJ DATA
C CSOD MS TRLA
Z GS TRIP...
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE got many buyers near low of the day, Indices closed near high of the day which is a good sign for a follow through confirmation of this move. TAPE had a broad based participation & many sectors participated in this positive day. This pullback was only 1.40% in S&P 500. Only knock on today's TAPE is not so robust internals.
BLOG does NOT give buy or sell.
Saleem
Indices UP .26% to .59%....NICE !!!!
Indices are near high of the day after testing support near 50 DMA.
S&P 500 @ 1993.80, high 1996.25, low 1982.29
Internals are mostly positive.
Oil Down $1.23
Gold Down $1.00
Canadian $ UP 35 tick @ 90.56
VIX Down 3.11% @ 13.08
Portfolio EGO FB LULU MU MITL RAD
LULU reports Q2 before open on Thursday, here are expectations :
Q2 Sales $376.80 million, EPS 29 cents
Guidance Q3 Sales $421.85 million, EPS 38 cents
I think, it will be an inline result and guidance as expected...that may be taken as positive, short interest is 23% which can result in short covering.......
Most stocks are UP
@ 2.23 following are red :
EGO LULU QIHU GTAT SWIR GG YY BIDU
WUBA LVS DNKN SU EBAY FSLR SPWR
INVN YNDX HIMX CRUS SNDK AMCC
LSCC CIEN M SBUX X STLD ABX
SLW AEM MGA WLT AGU......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1993.80, high 1996.25, low 1982.29
Internals are mostly positive.
Oil Down $1.23
Gold Down $1.00
Canadian $ UP 35 tick @ 90.56
VIX Down 3.11% @ 13.08
Portfolio EGO FB LULU MU MITL RAD
LULU reports Q2 before open on Thursday, here are expectations :
Q2 Sales $376.80 million, EPS 29 cents
Guidance Q3 Sales $421.85 million, EPS 38 cents
I think, it will be an inline result and guidance as expected...that may be taken as positive, short interest is 23% which can result in short covering.......
Most stocks are UP
@ 2.23 following are red :
EGO LULU QIHU GTAT SWIR GG YY BIDU
WUBA LVS DNKN SU EBAY FSLR SPWR
INVN YNDX HIMX CRUS SNDK AMCC
LSCC CIEN M SBUX X STLD ABX
SLW AEM MGA WLT AGU......
BLOG does NOT give buy or sell.
Saleem
Tuesday, September 9, 2014
Indices closed down .57% to .87%.....
Indices closed down as TAPE adjusting to overbought condition.
S&P 500 @ 1988.44, low 1984.61, high 2001.01
RSI @ 53.52
CMF @ 0.276
Internals were :
Down volume led by 3.76 to 1 in NYSE & 4.45 to 1 in Nasdaq
Declining stocks led by 3.32 to 1 in NYSE & 3.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 24 in NYSE & lows by 6
VIX UP 6.64% @ 13.50
Oil @ $92.75
Gold @ $1248.50
AH ER PANW UP 3.83%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE went into selling mode and internals got very weak, we have more downside coming. This should not come as a surprise to our BLOG visitors as this selling was imminent based on very reliable indicators as discussed in Sunday BLOG. Ensure that you are not facing margin calls and stay on side. Have patience with this selling & stick to strong stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1988.44, low 1984.61, high 2001.01
RSI @ 53.52
CMF @ 0.276
Internals were :
Down volume led by 3.76 to 1 in NYSE & 4.45 to 1 in Nasdaq
Declining stocks led by 3.32 to 1 in NYSE & 3.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 24 in NYSE & lows by 6
VIX UP 6.64% @ 13.50
Oil @ $92.75
Gold @ $1248.50
AH ER PANW UP 3.83%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE went into selling mode and internals got very weak, we have more downside coming. This should not come as a surprise to our BLOG visitors as this selling was imminent based on very reliable indicators as discussed in Sunday BLOG. Ensure that you are not facing margin calls and stay on side. Have patience with this selling & stick to strong stocks.
BLOG does NOT give buy or sell.
Saleem
Indices down .42% to .52%.....
TAPE is under selling pressure again & @ low of the day, to deal with overbought condition.
S&P 500 @ 1992.38, low 1991.20, high 2001.01
Internals are negative minimum 2 to 1
Oil UP 1 cent
Gold Down $3.90
Canadian $ Down 27 tick @ 90.00
VIX UP 5.13% @ 13.31
Portfolio EGO FB LULU MU MITL RAD
Most stocks are down
@ 3.02 following are green :
AAPL GRPN RVBD LVS LEN SINA DNKN FFIV
INVN ARUN LRCX SNDK LSCC CIEN
NFLX PANW .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1992.38, low 1991.20, high 2001.01
Internals are negative minimum 2 to 1
Oil UP 1 cent
Gold Down $3.90
Canadian $ Down 27 tick @ 90.00
VIX UP 5.13% @ 13.31
Portfolio EGO FB LULU MU MITL RAD
Most stocks are down
@ 3.02 following are green :
AAPL GRPN RVBD LVS LEN SINA DNKN FFIV
INVN ARUN LRCX SNDK LSCC CIEN
NFLX PANW .....
BLOG does NOT give buy or sell.
Saleem
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