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
4 comments:
Hey Saleem,
Sold AKS @ 8.961.
I bought this for a trade and messed it up completely. This is not the "best of breed" in the sector, and I'd rather stay away from steel for now.
Stocktrader
Hi Stocktrader,
Always good to trim where comfort level is missing.
Saleem
Hey Saleem,
Sold DRYS @ 2.83 to reduce exposure to global economies.
Stocktrader
Hi Stocktrader,
Good move.
Saleem
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