Tuesday, September 30, 2014

Indices closed down .17% to .28%.....

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


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8 comments:

  1. stocktrader_1996October 1, 2014 at 6:16 AM

    Hey Saleem,

    I'm also thinking about companies like SPLK and PFPT which should be insulated from the global economic worries and are entering their usually very strong Q4. I think both charts, especially SPLK, have positive elements during this difficult $RUT time.

    Stocktrader

    ReplyDelete
  2. Stocks100October 1, 2014 at 6:30 AM

    Hi Stocktrader,

    Good luck with SPLK and PFPT.

    Saleem

    ReplyDelete
  3. stocktrader_1996October 1, 2014 at 6:42 AM

    Hey Saleem,

    Bought SPLK @ 54.35.

    Stocktrader

    ReplyDelete
  4. Stocks100October 1, 2014 at 6:56 AM

    Hi Stocktrader,

    Excellent entry price on SPLK.

    Saleem

    ReplyDelete
  5. stocktrader_1996October 1, 2014 at 7:16 AM

    Hey Saleem,

    Yes, back to 7% invested, huge! :)

    I think the most vulnerable sector could be financials. They were bid up all last quarter in anticipation of a steepening yield curve and greater economic activity--both of those things are failing right now. If I had the guts, I'd go long FAZ also.

    Stocktrader

    ReplyDelete
  6. Stocks100October 1, 2014 at 7:19 AM

    Hi Stocktrader,

    Does not look good for any sector except gold..I may trim my exposure today.

    Saleem

    ReplyDelete
  7. stocktrader_1996October 1, 2014 at 8:03 AM

    Hey Saleem,

    $VIX almost flat--might have that bounce yet...

    Stocktrader

    ReplyDelete
  8. Stocks100October 1, 2014 at 8:15 AM

    Hi Stocktrader,

    TAPE Has found support finally and is turning UP..

    Saleem

    ReplyDelete