TAPE went into overdrive and closed @ high of the day. Dow & S&P 500 closed @ all time high, while Nasdaq @ highest point since March of 2000. What Fed took it away Japan gave it back and then some.
S&P 500 @ 2018.05, high 2018.19, low 2001.20
RSI @ 65.33
CMF @ 0.114
Internals were :
UP volume led by 4.55 to 1 in NYSE & 3.67 to 1 in Nasdaq
Advancing stocks led by 3.31 to in NYSE & 2.49 to 1 in Nasdaq
Net new 52 wk highs were leading by 290 in NYSE & 185 to 1 in Nasdaq
VIX Down 3.37% @ 14.03
Oil @ $80.54..lost 11.6% in October
Gold @ $1171.60 @ 4 year low , lost 3.3% in October
Stocks which were UP 2% or more included AKS MU NXPI
SWIR TSL QIHU YY YELP EXPE LNKD PCLN GRPN
WUBA KOG JKS CSIQ AMZN SINA YUM V WB
YNDX ARUN SNDK BRCM AMCC LSCC X
JDSU FNSR NFLX CCJ DATA SPWR
CSOD MGA WLT TRLA Z TRIP
MLNX.......
Here is my weighting :
LULU 28.07%
EGO 25.33%
MU 23.90%
NXPI 13.22%
AKS 9.48%
Exposure 186%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Friday, October 31, 2014
Thursday, October 30, 2014
Indices closed UP .37% to 1.30%.....NICE !!!!
Indices closed UP on good earning news and data from Germany.
S&P 500 @ 1994.65, high 1999.40, low 1974.75
RSI @ 61.27
CMF @ 0.095
Internals were :
UP volume led by 1.69 to 1 in NYSE & 1.17 to 1 in Nasdaq
Advancing stocks led by 1.76 to 1 in NYSE & 1.67 to 1 in Nasdaq
Net new 52 wk highs were leading by 147 in NYSE & by 69 in Nasdaq
VIX Down 4.16% @ 14.52
Oil @ $81.12
Gold @ $1198.60
Stocks which were UP 1% or more included LULU
QIHU YY YELP EXPE LNKD BIDU KORS
COH AMZN FFIV MA V FEYE ARUN
AMCC CIEN JDSU PANW GMCR
SPLK SBUX DATA CSOD
AGU......
AH ER ....EGO reported the following number as expected by me :
Sales expected $277.38 million, actual $241.2 million
EPS expected 6 cents, actual 5 cents
EGO all included cost for gold is $735 per oz
Cash operating cost for Gold is $488 per oz.......both among lowest in industry
This is an excellent report when big players like GG & AEM all
reporting losses in same environment.... EGO AH UP 1.49%
SBUX Down 4.55%, EXPE UP 2.43%
LNKD UP 3.43%, GPRO UP 15.46%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE has regained its momentum for several days now, we should be looking @ new all time high in S&P 500, Dow & new 14 yr high in Nasdaq in short order. Sometimes doing nothing in turmoil may be more productive as TAPE regains its momentum in no time. Friday should be a good day to see further reward of strategy & conviction.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1994.65, high 1999.40, low 1974.75
RSI @ 61.27
CMF @ 0.095
Internals were :
UP volume led by 1.69 to 1 in NYSE & 1.17 to 1 in Nasdaq
Advancing stocks led by 1.76 to 1 in NYSE & 1.67 to 1 in Nasdaq
Net new 52 wk highs were leading by 147 in NYSE & by 69 in Nasdaq
VIX Down 4.16% @ 14.52
Oil @ $81.12
Gold @ $1198.60
Stocks which were UP 1% or more included LULU
QIHU YY YELP EXPE LNKD BIDU KORS
COH AMZN FFIV MA V FEYE ARUN
AMCC CIEN JDSU PANW GMCR
SPLK SBUX DATA CSOD
AGU......
AH ER ....EGO reported the following number as expected by me :
Sales expected $277.38 million, actual $241.2 million
EPS expected 6 cents, actual 5 cents
EGO all included cost for gold is $735 per oz
Cash operating cost for Gold is $488 per oz.......both among lowest in industry
This is an excellent report when big players like GG & AEM all
reporting losses in same environment.... EGO AH UP 1.49%
SBUX Down 4.55%, EXPE UP 2.43%
LNKD UP 3.43%, GPRO UP 15.46%
AH Futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE has regained its momentum for several days now, we should be looking @ new all time high in S&P 500, Dow & new 14 yr high in Nasdaq in short order. Sometimes doing nothing in turmoil may be more productive as TAPE regains its momentum in no time. Friday should be a good day to see further reward of strategy & conviction.
BLOG does NOT give buy or sell.
Saleem
Indices UP .39% to 1.36%....NICE !!!!
Indices are UP thanks to V and economic growth news from Germany of unemployment around 6.3%.......
S&P 500 @ 1994.75, high 1999.40, low 1974.75
Internals are positive by 2 to 1
Oil Down 83 cents
Gold Down $24.60.....testing major support
Canadian $ Down 6 tick @ 88.16
VIX Down 4.82% @ 14.42
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.30 following are red by 1% or more :
EGO MU NXPI TSL GG FB JKS TWTR SPWR
HIMX CRUS LSCC X ABX AEM SLW
MGA TRLA TRIP....
EGO reports AH with conference call in the morning. Following
are expected :
Q3 Sales $277.38 million , EPS 6 cents
Q4 Guidance Sales $259.75 million, EPS 5 cents
Gold sector is facing difficulties in terms of price of Gold which is near 4 year low.
EGO Sales may be on the low end or may miss for both Q3 & Q4. EGO is among the lowest cost producer and may remain profitable in this difficult environment.This is the-best Gold stock to own for Gold price recovery.
Switzerland is voting to increase Gold reserve to 12% from current 7%...Vote is expected to win. Switzerland then have to buy 50% of entire world production to be @ mandated 12% reserve. Extremely bullish for Gold price going forward.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1994.75, high 1999.40, low 1974.75
Internals are positive by 2 to 1
Oil Down 83 cents
Gold Down $24.60.....testing major support
Canadian $ Down 6 tick @ 88.16
VIX Down 4.82% @ 14.42
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.30 following are red by 1% or more :
EGO MU NXPI TSL GG FB JKS TWTR SPWR
HIMX CRUS LSCC X ABX AEM SLW
MGA TRLA TRIP....
EGO reports AH with conference call in the morning. Following
are expected :
Q3 Sales $277.38 million , EPS 6 cents
Q4 Guidance Sales $259.75 million, EPS 5 cents
Gold sector is facing difficulties in terms of price of Gold which is near 4 year low.
EGO Sales may be on the low end or may miss for both Q3 & Q4. EGO is among the lowest cost producer and may remain profitable in this difficult environment.This is the-best Gold stock to own for Gold price recovery.
Switzerland is voting to increase Gold reserve to 12% from current 7%...Vote is expected to win. Switzerland then have to buy 50% of entire world production to be @ mandated 12% reserve. Extremely bullish for Gold price going forward.
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 29, 2014
Indices closed down .14% to .33%.....
Indices fought back on Fed minutes and finished in upper quarter of the range.
S&P 500 @ 1982.30, low 1969.04, high 1991.40
RSI @ 58.91
CMF @ 0.093
Internals were :
Down volume led by 1.52 to 1 in NYSE & 1.37 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.14 to 1 in Nasdaq
Net new 52 wk highs were leading by 138 in NYSE & by 73 in Nasdaq
VIX UP 5.28% @ 15.15
Oil @ $82.20
Gold @ $1224.90
AH ER... FFIV UP 2.89%, JDSU UP 3.94%
V UP 4.21%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Fed ending of Bond buying brought selling but recovered nicely by close. Interest rate will remain low for a long time, which is very bullish for equities. We should resume upward move by Thursday's close. It is important not to be spooked by supercomputers knocking indices down on non-events. This is a TAPE which requires tremendous amount of conviction in a well diversified portfolio.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1982.30, low 1969.04, high 1991.40
RSI @ 58.91
CMF @ 0.093
Internals were :
Down volume led by 1.52 to 1 in NYSE & 1.37 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.14 to 1 in Nasdaq
Net new 52 wk highs were leading by 138 in NYSE & by 73 in Nasdaq
VIX UP 5.28% @ 15.15
Oil @ $82.20
Gold @ $1224.90
AH ER... FFIV UP 2.89%, JDSU UP 3.94%
V UP 4.21%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, Fed ending of Bond buying brought selling but recovered nicely by close. Interest rate will remain low for a long time, which is very bullish for equities. We should resume upward move by Thursday's close. It is important not to be spooked by supercomputers knocking indices down on non-events. This is a TAPE which requires tremendous amount of conviction in a well diversified portfolio.
BLOG does NOT give buy or sell.
Saleem
Indices down .28% to .64%.....
Indices are down after Fed statement which completed its Bond buying program.
S&P 500 @ 1977.65, low 1969.04, high 1991.40
Internals are negative by almost 2 to 1
Oil UP 73 cents
Gold Down $12.10
Canadian $ Down 37 tick @ 87.99
VIX UP 6.95% @ 15.35
In my portfolio :
Added 15% EGO @ $6.82
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.37 PM following are green :
AKS JCP GOOGL AAPL LVS KOG AMZN
HOMX FNSR C M GMCR X STLD MS
GS......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1977.65, low 1969.04, high 1991.40
Internals are negative by almost 2 to 1
Oil UP 73 cents
Gold Down $12.10
Canadian $ Down 37 tick @ 87.99
VIX UP 6.95% @ 15.35
In my portfolio :
Added 15% EGO @ $6.82
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.37 PM following are green :
AKS JCP GOOGL AAPL LVS KOG AMZN
HOMX FNSR C M GMCR X STLD MS
GS......
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 28, 2014
Indices closed UP 1.12% to 1.75%.....NICE !!!!
Indices closed @ high of the day, thanks to consumer confidence being @ 7 year high.
S&P 500 @ 1985.05, low 1964.14
RSI @ 59.66
CMF @ 0.050
Internals were :
UP volume led by 6.58 to 1 in NYSE & 6.73 to 1 in Nasdaq
Advancing stocks led by 5.18 to 1 in NYSE & 3.97 to 1 in Nasdaq
Net new 52 wk highs were leading by 155 in NYSE & 90 in Nasdaq
VIX Down 10.29% @ 14.39
Oil @ $81.42
Gold @ $1229.40
Stocks which were UP 2% or more included AKS NXPI
TSL BBRY QIHU GG OTEX YELP YHOO LNKD
BIDU TSLA WUBA KOG JKS CSIQ SINA SU
CMG FFIV MA FEYE FSLR SPWR YNDX
ARUN CRUS AMCC GMCR SPLK X
STLD SLW AEM CCJ DATA MGA
CSOD WLT TRLA TRIP......
AH ER..PNRA Down 2.63%, GILD Down 4.27%
FB Down 8.26%, AMCC Down 9.16%
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was the strongest today in this snapback, internals were strong and positive all over. S&P 500 and Nasdaq closed @ the absolute highest point of the day, Dow missed by few ticks.Fed curtailment of bond buying will not interrupt this bull run, it is expected by just about everyone, no surprise there.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1985.05, low 1964.14
RSI @ 59.66
CMF @ 0.050
Internals were :
UP volume led by 6.58 to 1 in NYSE & 6.73 to 1 in Nasdaq
Advancing stocks led by 5.18 to 1 in NYSE & 3.97 to 1 in Nasdaq
Net new 52 wk highs were leading by 155 in NYSE & 90 in Nasdaq
VIX Down 10.29% @ 14.39
Oil @ $81.42
Gold @ $1229.40
Stocks which were UP 2% or more included AKS NXPI
TSL BBRY QIHU GG OTEX YELP YHOO LNKD
BIDU TSLA WUBA KOG JKS CSIQ SINA SU
CMG FFIV MA FEYE FSLR SPWR YNDX
ARUN CRUS AMCC GMCR SPLK X
STLD SLW AEM CCJ DATA MGA
CSOD WLT TRLA TRIP......
AH ER..PNRA Down 2.63%, GILD Down 4.27%
FB Down 8.26%, AMCC Down 9.16%
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was the strongest today in this snapback, internals were strong and positive all over. S&P 500 and Nasdaq closed @ the absolute highest point of the day, Dow missed by few ticks.Fed curtailment of bond buying will not interrupt this bull run, it is expected by just about everyone, no surprise there.
BLOG does NOT give buy or sell.
Saleem
Indices UP .59% to 1.35%.....NICE !!!!
TAPE is strong and is @ high of the day. Consumer confidence went UP.
S&P 500 @ 1975.08 making higher highs , strong technical indicator, high 1975.56, low 1964.14.
Internals are positive by 3 to 1
Oil UP 13 cents
Gold Down 30 cents
Canadian $ UP 56 tick @ 88.12
VIX Down 5.24% @ 15.20
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.13 following are red :
JCP TWTR COH LVS EBAY HIMX M
WYNN.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1975.08 making higher highs , strong technical indicator, high 1975.56, low 1964.14.
Internals are positive by 3 to 1
Oil UP 13 cents
Gold Down 30 cents
Canadian $ UP 56 tick @ 88.12
VIX Down 5.24% @ 15.20
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.13 following are red :
JCP TWTR COH LVS EBAY HIMX M
WYNN.....
BLOG does NOT give buy or sell.
Saleem
Monday, October 27, 2014
Indices closed mixed.....
TAPE was under selling pressure @ open but managed to close mixed.
S&P 500 @ 1961.63, low 1951.37, high 1964.64
RSI @ 55.15
CMF @ -0.019
Internals were :
Down volume led by 1.92 to 1 in NYSE & .87 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 45 in NYSE & lows by 22 in Nasdaq
VIX Down .43% @ 16.04
Oil @ $81.00
Gold @ $1229.30
AH ER...BWLD UP 6.34%, TWTR Down 11.06%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE showed resiliency after initial selling pressure, there are many buyers waiting for any weakness. Germany continues to give poor economic data, that puts selling pressure on world equities. NYC child has tested negative for ebola which should give a boost to markets on Tuesday. Buying on weakness in desirable stocks may work eventually, need to be very stock specific.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1961.63, low 1951.37, high 1964.64
RSI @ 55.15
CMF @ -0.019
Internals were :
Down volume led by 1.92 to 1 in NYSE & .87 to 1 in Nasdaq
Declining stocks led by 1.33 to 1 in NYSE & 1.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 45 in NYSE & lows by 22 in Nasdaq
VIX Down .43% @ 16.04
Oil @ $81.00
Gold @ $1229.30
AH ER...BWLD UP 6.34%, TWTR Down 11.06%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE showed resiliency after initial selling pressure, there are many buyers waiting for any weakness. Germany continues to give poor economic data, that puts selling pressure on world equities. NYC child has tested negative for ebola which should give a boost to markets on Tuesday. Buying on weakness in desirable stocks may work eventually, need to be very stock specific.
BLOG does NOT give buy or sell.
Saleem
Indices down .03% to .24%.....
Indices are lower on another Ebola scare and overbought condition.
S&P 500 @ 1959.83, low 1951.37, high 1964.64
Internals are negative
Oil Down 11 cents
Gold Down $2.90
Canadian $ Down 6 tick @ 87.65
VIX UP 2.05% @ 16.44
In my portfolio :
Added 15% EGO @ $6.92
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.49 following are green :
AKS LULU MU BBRY JCP OTEX YHOO
KORS GOOGL BABA COH AMAZN
DNKN CMG FFIV ONVO HIMX
SNDK SBUX MCD DATA
CSOD GS AGU.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1959.83, low 1951.37, high 1964.64
Internals are negative
Oil Down 11 cents
Gold Down $2.90
Canadian $ Down 6 tick @ 87.65
VIX UP 2.05% @ 16.44
In my portfolio :
Added 15% EGO @ $6.92
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.49 following are green :
AKS LULU MU BBRY JCP OTEX YHOO
KORS GOOGL BABA COH AMAZN
DNKN CMG FFIV ONVO HIMX
SNDK SBUX MCD DATA
CSOD GS AGU.....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 26, 2014
Are we @ the top end of this trading range ?
We just witnessed best trading week since 2013, that is quite a supercharged TAPE.
You asked ....how supercharged was the TAPE ?
In last 7 trading days we went UP 144.61 points in S&P 500 or gain of 7.94%...this type of TAPE action is extremely rare......
It is important to analyze these things closely as we get oversold & then overbought very quickly.
We may be near top end of this trading range......
We need to digest gains and sideways to lower movement is necessary.....
Earnings are getting in overdrive mode now & reaction has been company specific which points to stock selection.
Some stocks have not recovered in this sharp runup and need to be pruned out.
It is not that your stocks are not among strongest, but they must not be weaker ones.
European Bank stress test are out and may have their own reaction, 25 banks failed & 10 need to raise cash.
FOMC statement may show that they are concluding their bond buying, market may not react well.
SO, factoring huge reversal without any test or retest of support, calls for neutral to negative bias.
What strategy to adopt in the above scenario, buy strong stocks on weakness and limit exposure.
Do not be overexposed in one sector, diversify in many.
Comfort level needs to be very high in this TAPE.
2014 has proven that expectations needs to be tempered, as we are barely UP for the year and year is ending in another 9 weeks......
We have entered a challenging markets since start of 2014 and it may remain so for another year.
BLOG does NOT give buy or sell.
Saleem
You asked ....how supercharged was the TAPE ?
In last 7 trading days we went UP 144.61 points in S&P 500 or gain of 7.94%...this type of TAPE action is extremely rare......
It is important to analyze these things closely as we get oversold & then overbought very quickly.
We may be near top end of this trading range......
We need to digest gains and sideways to lower movement is necessary.....
Earnings are getting in overdrive mode now & reaction has been company specific which points to stock selection.
Some stocks have not recovered in this sharp runup and need to be pruned out.
It is not that your stocks are not among strongest, but they must not be weaker ones.
European Bank stress test are out and may have their own reaction, 25 banks failed & 10 need to raise cash.
FOMC statement may show that they are concluding their bond buying, market may not react well.
SO, factoring huge reversal without any test or retest of support, calls for neutral to negative bias.
What strategy to adopt in the above scenario, buy strong stocks on weakness and limit exposure.
Do not be overexposed in one sector, diversify in many.
Comfort level needs to be very high in this TAPE.
2014 has proven that expectations needs to be tempered, as we are barely UP for the year and year is ending in another 9 weeks......
We have entered a challenging markets since start of 2014 and it may remain so for another year.
BLOG does NOT give buy or sell.
Saleem
Friday, October 24, 2014
Indices closed UP .69% to .76%....NICE !!!!
TAPE digested EBOLA news in stride & closed near high of the day.Nasdaq is showing relative strength by closing above 50 DMA.
S&P 500 @ 1964.58, high 1965.27, low 1946.27
RSI @ 55.88
CMF @ -0.018
Internals were :
UP volume led by 2.04 to 1 in NYSE & 2.21 to 1 in Nasdaq
Advancing stocks led by 1.65 to 1 in NYSE & 1.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 57 in NYSE & by 1 in Nasdaq
VIX Down 2.54% @ 16.11
Oil @ $81.01
Gold @ $1231.80
Canadian $ @ 77.73
Stocks which were UP 1% or more included NXPI
LEN OTEX YY YELP EXPE YHOO BIDU
BABA RVBD DNKN FEYE CRUS
LSCC M SPLK SBUX CCJ MS
DATA CSOD MGA GS
AGU.....
Here is my weighting :
LULU 29.06%
EGO 25.16%
MU 23.36
NXPI 13.14%
AKS 9.28%
Exposure 179%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1964.58, high 1965.27, low 1946.27
RSI @ 55.88
CMF @ -0.018
Internals were :
UP volume led by 2.04 to 1 in NYSE & 2.21 to 1 in Nasdaq
Advancing stocks led by 1.65 to 1 in NYSE & 1.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 57 in NYSE & by 1 in Nasdaq
VIX Down 2.54% @ 16.11
Oil @ $81.01
Gold @ $1231.80
Canadian $ @ 77.73
Stocks which were UP 1% or more included NXPI
LEN OTEX YY YELP EXPE YHOO BIDU
BABA RVBD DNKN FEYE CRUS
LSCC M SPLK SBUX CCJ MS
DATA CSOD MGA GS
AGU.....
Here is my weighting :
LULU 29.06%
EGO 25.16%
MU 23.36
NXPI 13.14%
AKS 9.28%
Exposure 179%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 23, 2014
Indices closed UP 1.23% to 1.60%....NICE !!!!
Indices had another strong close.
S&P 500 @ 1950.82, high 1961.95, low 1931.02
RSI @ 53.19
CMF @ -0.031
Internals were :
UP volume led by 3.45 to 1 in NYSE & 6.25 to 1 in Nasdaq
Advancing stocks led by 3.42 to 1 in NYSE & 2.73 to 1 in Nasdaq
Net new 52 wk highs were leading by 77 in NYSE & 12 in Nasdaq
VIX Down 7.50% @ 16.53
Oil @ $82.09
Gold @ $1229.10
Stocks which were UP 2% or more included AKS
SWIR TSL BBRY JCP QIHU YY LNKD OWW
GOOGL BABA FB RVBD JKS CSIQ SU
FEYE FSLR SPWR INVN YNDX
HIMX ARUN CRUS SNDK
AMCC CIEN JDSU FNSR
KOG NFLX PANW X
SPLK DATA WLT
TRLA Z.....
AH ER...P Down 8.00%, AMZN Down 10.67%
PFPT UP 2.9%, KLAC UP 16.2%
AH Futures Down
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, EBOLA scare is back in focus as NYC Doctor has tested positive. TAPE was strong but fade into close weakened internals substantially. Europe is showing some strong economic indicator in PMI, which is a big relief for Europe watchers. Leaders are back in vogue which speaks about TAPE strength. Any weakness due to EBOLA scare is a buying opportunity.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1950.82, high 1961.95, low 1931.02
RSI @ 53.19
CMF @ -0.031
Internals were :
UP volume led by 3.45 to 1 in NYSE & 6.25 to 1 in Nasdaq
Advancing stocks led by 3.42 to 1 in NYSE & 2.73 to 1 in Nasdaq
Net new 52 wk highs were leading by 77 in NYSE & 12 in Nasdaq
VIX Down 7.50% @ 16.53
Oil @ $82.09
Gold @ $1229.10
Stocks which were UP 2% or more included AKS
SWIR TSL BBRY JCP QIHU YY LNKD OWW
GOOGL BABA FB RVBD JKS CSIQ SU
FEYE FSLR SPWR INVN YNDX
HIMX ARUN CRUS SNDK
AMCC CIEN JDSU FNSR
KOG NFLX PANW X
SPLK DATA WLT
TRLA Z.....
AH ER...P Down 8.00%, AMZN Down 10.67%
PFPT UP 2.9%, KLAC UP 16.2%
AH Futures Down
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, EBOLA scare is back in focus as NYC Doctor has tested positive. TAPE was strong but fade into close weakened internals substantially. Europe is showing some strong economic indicator in PMI, which is a big relief for Europe watchers. Leaders are back in vogue which speaks about TAPE strength. Any weakness due to EBOLA scare is a buying opportunity.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.67% to 1.99%....NICE !!!!
TAPE is very strong building on strong reversal from last week..
S&P 500 @ 1959.68, high 1959.93, low 1931.02
Internals are positive by minimum 3 to 1
Oil UP $1.09
Gold Down $16.00
Canadian $ UP 1 tick @ 87.65
VIX Down 11.53% @ 15.81
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.22 following are red :
EGO NXPI GG OTEX YELP BIDU DNKN GMCR
STLD AEM CCJ CSOD MLNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1959.68, high 1959.93, low 1931.02
Internals are positive by minimum 3 to 1
Oil UP $1.09
Gold Down $16.00
Canadian $ UP 1 tick @ 87.65
VIX Down 11.53% @ 15.81
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.22 following are red :
EGO NXPI GG OTEX YELP BIDU DNKN GMCR
STLD AEM CCJ CSOD MLNX.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 22, 2014
Indices closed down .73% to .92%....
Indices faced selling pressure & closed near low of the day.
S&P 500 @ 1927.11, low 1926.83, high 1949.31
RSI @ 48.12
CMF @ -0.084
Internals were :
Down volume led by 3.81 to 1 in NYSE & 3.37 to 1 in Nasdaq
Declining stocks led by 2.27 to 1 in NYSE & 2.85 to 1 in Nasdaq
Net new 52 wk highs were leading by 73 in NYSE & 19 in Nasdaq
VIX UP 11.13% @ 17.87
Oil @ $80.52
Gold @ $1245.50
AH ER ..NOW UP 1.77%, LRCX Down 3.28%
CTXS Down 5.09%, YELP Down 13.14%
NXPI reported a beat in Sales & EPS for Q3
Sales actual $1.515 Billion, expectations $1.50 Billion
EPS actual $1.35, expectations $1.30
Conference call @ 8 AM...they will give guidance for Q4 then ....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure from open on some weak earnings, then Ottawa incident put the fear back in market as entire Capital city was on lockdown including US Embassy. This may be an over reaction to home grown terror. Hopefully TAPE will find its footing & may close green on Thursday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1927.11, low 1926.83, high 1949.31
RSI @ 48.12
CMF @ -0.084
Internals were :
Down volume led by 3.81 to 1 in NYSE & 3.37 to 1 in Nasdaq
Declining stocks led by 2.27 to 1 in NYSE & 2.85 to 1 in Nasdaq
Net new 52 wk highs were leading by 73 in NYSE & 19 in Nasdaq
VIX UP 11.13% @ 17.87
Oil @ $80.52
Gold @ $1245.50
AH ER ..NOW UP 1.77%, LRCX Down 3.28%
CTXS Down 5.09%, YELP Down 13.14%
NXPI reported a beat in Sales & EPS for Q3
Sales actual $1.515 Billion, expectations $1.50 Billion
EPS actual $1.35, expectations $1.30
Conference call @ 8 AM...they will give guidance for Q4 then ....
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure from open on some weak earnings, then Ottawa incident put the fear back in market as entire Capital city was on lockdown including US Embassy. This may be an over reaction to home grown terror. Hopefully TAPE will find its footing & may close green on Thursday.
BLOG does NOT give buy or sell.
Saleem
Indices down .37% to .61%......
Indices are lower & near low of the day on profit taking.
S&P 500 @ 1935.37, low 1931.41, high 1949.31
Internals are negative
Oil Down $1.39
Gold Down $6.70
Canadian $ Down 3 tick @ 87.79
VIX UP 9.20% @ 17.56, high 17.74
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.16 PM following are green :
LULU YHOO KORS GOOGL AAPL BABA
RVBD DNKN CMG EBAY BRCM NFLX
GMCR CBUX STLD WLT MLNX....
NXPI reporting AH , following are expected :
Q3 Sales $1.50 Billion, EPS $1.30
Guidance Q4 Sales $1.49 Billion, EPS $1.28
I am expecting a beat in both....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1935.37, low 1931.41, high 1949.31
Internals are negative
Oil Down $1.39
Gold Down $6.70
Canadian $ Down 3 tick @ 87.79
VIX UP 9.20% @ 17.56, high 17.74
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.16 PM following are green :
LULU YHOO KORS GOOGL AAPL BABA
RVBD DNKN CMG EBAY BRCM NFLX
GMCR CBUX STLD WLT MLNX....
NXPI reporting AH , following are expected :
Q3 Sales $1.50 Billion, EPS $1.30
Guidance Q4 Sales $1.49 Billion, EPS $1.28
I am expecting a beat in both....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 21, 2014
Indices closed UP 1.31% to 2.40%....NICE !!!!
Indices closed near high of the day.
S&P 500 @ 1941.28, high 1942.45, low 1909.38
RSI @ 51.20
CMF @ -0.003
Internals were :
UP volume led by 5.21 to 1 in NYSE & 7.60 to 1 in Nasdaq
Advancing stocks led by 4.82 to 1 in NYSE & 3.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 53 in NYSE & 16 in Nasdaq
VIX Down 13.41% @ 16.08
Oil @ $82.49
Gold @ $1251.70
Stocks which were UP 2% or more included AKS MU NXPI
SWIR TSL YY YELP EXPE YHOO LNKD BIDU TSLA
PCLN KORS AAPL OWW BABA FB LVS KOG JKS
CSIQ AMZN SU EBAY FFIV MA V FSLR SPWR
YNDX ZNGA SNDK AMCC BRCM CIEN
JDSU PANW SPLK STLD X CCJ DATA
CSOD MGA MS WLT TRIP MLNX....
AH ER / News YHOO UP 3.73%, VMW Down 1.92%
CREE Down 11.01%, HIMX Down 13.09%
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, S&P 500 is marching towards 50 DMA which is @ 1966.81, IF it closes above that then we are off to the races. Tonight, IBD is changing its market outlook to "market in confirmed uptrend". Japanese economic activity picked up beating estimates on exports UP 6.9% @ imports UP 6.2% for September. Internals of this market has turned positive in 99% of the area, CMF missed by a hair. We have seen money flow in equities after 9.8% drubbing, which is good news for all lagging portfolios.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1941.28, high 1942.45, low 1909.38
RSI @ 51.20
CMF @ -0.003
Internals were :
UP volume led by 5.21 to 1 in NYSE & 7.60 to 1 in Nasdaq
Advancing stocks led by 4.82 to 1 in NYSE & 3.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 53 in NYSE & 16 in Nasdaq
VIX Down 13.41% @ 16.08
Oil @ $82.49
Gold @ $1251.70
Stocks which were UP 2% or more included AKS MU NXPI
SWIR TSL YY YELP EXPE YHOO LNKD BIDU TSLA
PCLN KORS AAPL OWW BABA FB LVS KOG JKS
CSIQ AMZN SU EBAY FFIV MA V FSLR SPWR
YNDX ZNGA SNDK AMCC BRCM CIEN
JDSU PANW SPLK STLD X CCJ DATA
CSOD MGA MS WLT TRIP MLNX....
AH ER / News YHOO UP 3.73%, VMW Down 1.92%
CREE Down 11.01%, HIMX Down 13.09%
AH Futures Down
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, S&P 500 is marching towards 50 DMA which is @ 1966.81, IF it closes above that then we are off to the races. Tonight, IBD is changing its market outlook to "market in confirmed uptrend". Japanese economic activity picked up beating estimates on exports UP 6.9% @ imports UP 6.2% for September. Internals of this market has turned positive in 99% of the area, CMF missed by a hair. We have seen money flow in equities after 9.8% drubbing, which is good news for all lagging portfolios.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.12% to 1.95%....NICE !!!!
China's better than expected GDP of 7.3% is giving another lift to this TAPE. Higher existing home sale in US is another reason.
S&P 500 @ 1934.92, high 1935.82, low 1909.38
Internals are positive by minimum 3 to 1
Oil Down 23 cents
Gold UP $6.30
Canadian $ UP 54 tick @ 87.71
VIX Down 11.58% @ 16.42
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.07 following are red :
BBRY JCP QIHU WUBA DNKN CMG WB
BSFT HIMX CRUS FEYE SBUX MCD
ABX......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1934.92, high 1935.82, low 1909.38
Internals are positive by minimum 3 to 1
Oil Down 23 cents
Gold UP $6.30
Canadian $ UP 54 tick @ 87.71
VIX Down 11.58% @ 16.42
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.07 following are red :
BBRY JCP QIHU WUBA DNKN CMG WB
BSFT HIMX CRUS FEYE SBUX MCD
ABX......
BLOG does NOT give buy or sell.
Saleem
Monday, October 20, 2014
Indices closed UP .12% to 1.35%....NICE !!!!
Indices ignored IBM dismal earning & closed higher.
S&P 500 @ 1904.01, high 1905.03, low 1882.30
RSI @ 42.18
CMF @ -0.091
Internals were :
UP volume led by 3.17 to 1 in NYSE & 5.06 to 1 in Nasdaq
Advancing stocks led by 2.80 to 1 in NYSE & 2.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 10 in NYSE & lows by 15 in Nasdaq
VIX Down 15.55% @ 18.57
Oil @ $81.91
Gold @ $1244.70
Stocks which were UP 2% or more included EGO LULU MU
LEN BBRY JCP QIHU YELP TWTR EXPE YHOO BIDU
PCLN KORS AAPL OWW WUBA RVBD COH JKS
CSIQ DNKN EBAY WB FSLR SPWR INVN
CRUS CIEN FNSR GMCR ABX SLW
AEM TRLA Z TRIP MLNX....
AH ER AAPL UP 1.49%, CMG Down 4.35%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE ignored bad earning report, which showed that this market is on the mend. It is not going to be easy straight UP anymore, volatility remains high. Stay diversified and be in defensive stocks. Previous high fliers are more vulnerable in my opinion. Boring & ignored stocks is a better way to navigate this TAPE.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1904.01, high 1905.03, low 1882.30
RSI @ 42.18
CMF @ -0.091
Internals were :
UP volume led by 3.17 to 1 in NYSE & 5.06 to 1 in Nasdaq
Advancing stocks led by 2.80 to 1 in NYSE & 2.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 10 in NYSE & lows by 15 in Nasdaq
VIX Down 15.55% @ 18.57
Oil @ $81.91
Gold @ $1244.70
Stocks which were UP 2% or more included EGO LULU MU
LEN BBRY JCP QIHU YELP TWTR EXPE YHOO BIDU
PCLN KORS AAPL OWW WUBA RVBD COH JKS
CSIQ DNKN EBAY WB FSLR SPWR INVN
CRUS CIEN FNSR GMCR ABX SLW
AEM TRLA Z TRIP MLNX....
AH ER AAPL UP 1.49%, CMG Down 4.35%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE ignored bad earning report, which showed that this market is on the mend. It is not going to be easy straight UP anymore, volatility remains high. Stay diversified and be in defensive stocks. Previous high fliers are more vulnerable in my opinion. Boring & ignored stocks is a better way to navigate this TAPE.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
IBM gave another scare before open, TAPE is ignoring company specific issue & showing green in S&P 500 , DOW.
S&P 500 @ 1899.22, high 1900.77, low 1882.30
Internals are positive by almost 2 to 1
Oil UP 5 cents
Gold UP $6.70
Canadian $ Down 2 tick @ 87.23
VIX Down 13.55% @ 19.01
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.44 following are down :
LVS FFIV AMCC SPLK CCJ MGA WLT WYNN...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1899.22, high 1900.77, low 1882.30
Internals are positive by almost 2 to 1
Oil UP 5 cents
Gold UP $6.70
Canadian $ Down 2 tick @ 87.23
VIX Down 13.55% @ 19.01
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.44 following are down :
LVS FFIV AMCC SPLK CCJ MGA WLT WYNN...
BLOG does NOT give buy or sell.
Saleem
Sunday, October 19, 2014
Is 9.8% pullback in S&P 500 stops correction ?
Much dreaded 10% pullback came to fruition with actual decline of 9.8% in S&P 500.
Many are wondering IF 9.8% pullback is all we are going to get?
BUT..first we have to look @ what caused this pullback.....
-Stocks were overextended, making series of all time highs in DOW & S&P 500.....
-China slowing down to 7% growth from around 12% growth
-Europe struggling big time, on the verge of recession in Germany which IS the biggest economy in Europe.
-Oil price slumping to multi-year low below $80 is a direct reflection of slowing China.
-Trade sanctions imposed on Russia is another economic blow to a struggling world.
-Ebola scare continuing
-ISIS attack by Allies is another economic drain costing billions
TAPE is trying to discount all of the above.....we will only know in two weeks IF all is discounted and TAPE is looking ahead to resolution of most of these issues.
My guess is that most issues have been discounted, but few remains on radar for this market mainly Europe & Ebola.
We have moved UP 3.63% from low, after a 19 trading day serious decline of 9.8%.....
We may be looking at two positive catalyst for this rebound, first is earnings and the second is Fed tone may change based on Fed proxies statement back to back for two days.
Market internals are remaining in extreme bearish mode which is a contrary indicator, first only 37.8% bulls vs 17.3% bears, put call ratio is also negative by put purchase of 1.2 to 1 ratio.
Hedge Funds & all Money managers have lowest allocation to equities since 2012, that means IF investing environment improves then those indicators will turn more bullish & equity allocation will improve.
I personally believe that we will take out 200 DMA @ 1906.02 in S&P 500, this will give confidence to many to put back capital in markets.
ECB may give further boost to equities by taking action vs ongoing talk of Asset purchase.
SO..lot has been factored in already and we are on the verge of gradual improvement in equities.
BUT...it remains a volatile trading market for now, it is important to adjust to this new reality of a different TAPE.
BLOG does NOT give buy or sell.
Saleem
Many are wondering IF 9.8% pullback is all we are going to get?
BUT..first we have to look @ what caused this pullback.....
-Stocks were overextended, making series of all time highs in DOW & S&P 500.....
-China slowing down to 7% growth from around 12% growth
-Europe struggling big time, on the verge of recession in Germany which IS the biggest economy in Europe.
-Oil price slumping to multi-year low below $80 is a direct reflection of slowing China.
-Trade sanctions imposed on Russia is another economic blow to a struggling world.
-Ebola scare continuing
-ISIS attack by Allies is another economic drain costing billions
TAPE is trying to discount all of the above.....we will only know in two weeks IF all is discounted and TAPE is looking ahead to resolution of most of these issues.
My guess is that most issues have been discounted, but few remains on radar for this market mainly Europe & Ebola.
We have moved UP 3.63% from low, after a 19 trading day serious decline of 9.8%.....
We may be looking at two positive catalyst for this rebound, first is earnings and the second is Fed tone may change based on Fed proxies statement back to back for two days.
Market internals are remaining in extreme bearish mode which is a contrary indicator, first only 37.8% bulls vs 17.3% bears, put call ratio is also negative by put purchase of 1.2 to 1 ratio.
Hedge Funds & all Money managers have lowest allocation to equities since 2012, that means IF investing environment improves then those indicators will turn more bullish & equity allocation will improve.
I personally believe that we will take out 200 DMA @ 1906.02 in S&P 500, this will give confidence to many to put back capital in markets.
ECB may give further boost to equities by taking action vs ongoing talk of Asset purchase.
SO..lot has been factored in already and we are on the verge of gradual improvement in equities.
BUT...it remains a volatile trading market for now, it is important to adjust to this new reality of a different TAPE.
BLOG does NOT give buy or sell.
Saleem
Friday, October 17, 2014
Indices closed UP .97% to 1.63%....NICE !!!!
TAPE was strong & gave lot of comfort to traders after brutal selling.
S&P 500 @ 1886.76, high 1898.16, low 1864.91
RSI @ 37.19
CMF @ -0.156
Internals were :
UP volume led by 3.09 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by 1.92 to 1 in NYSE & .98 to 1 in Nasdaq
Net new 52 wk highs were leading by 22 in NYSE & lows by 11 in Nasdaq
VIX Down 12.74% @ 21.99
Oil @ $82.06
Gold @ $1239.00
Canadian $ @ 87.31
Stocks which were UP 1% or more included AKS MU
SWIR LEN BBRY QIHU OTEX TWTR AAPL FB
DNKN SU YUM FFIV V SPWR YNDX BRCM
PANW SPLK SBUX MCD X CCJ DATA
CSOD MGA MS.....
Here is my weighting :
LULU 28.80%
EGO 26.78%
MU 22.92%
NXPI 12.81%
AKS 8.69%
Exposure 179%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1886.76, high 1898.16, low 1864.91
RSI @ 37.19
CMF @ -0.156
Internals were :
UP volume led by 3.09 to 1 in NYSE & 1.85 to 1 in Nasdaq
Advancing stocks led by 1.92 to 1 in NYSE & .98 to 1 in Nasdaq
Net new 52 wk highs were leading by 22 in NYSE & lows by 11 in Nasdaq
VIX Down 12.74% @ 21.99
Oil @ $82.06
Gold @ $1239.00
Canadian $ @ 87.31
Stocks which were UP 1% or more included AKS MU
SWIR LEN BBRY QIHU OTEX TWTR AAPL FB
DNKN SU YUM FFIV V SPWR YNDX BRCM
PANW SPLK SBUX MCD X CCJ DATA
CSOD MGA MS.....
Here is my weighting :
LULU 28.80%
EGO 26.78%
MU 22.92%
NXPI 12.81%
AKS 8.69%
Exposure 179%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 16, 2014
Indices closed mixed.....
TAPE was under selling pressure @ open but managed to close near unchanged levels.
S&P 500 @ 1862.76, high 1876.01, low 1835.02
RSI @ 29.31
CMF @ -0.201
Internals were :
UP volume led by 1.55 to 1 in NYSE & 1.50 to 1 in Nasdaq
Advancing stocks led by 2.42 to 1 in NYSE & 2.01 to 1 in Nasdaq
Net new 52 wk lows were leading by 117 in NYSE & by 76 in Nasdaq
VIX Down 4.00% @ 25.20
Oil @ $82.70
Gold @ $1241.20
Stocks which were UP 1% or more included AKS LULU MU NXPI SWIR TSL BBRY JCP GG YY EXPE BIDU PCLN
OWW BABA WUBA LVS KOG JKS SU V WB FEYE
FSLR SPWR INVN YNDX BSFT HIMX SNDK
LSCC CIEN FNSR CSIQ M SPLK STLD
ABX DATA CSOD MGA WLT WYNN..
AH ER GOOG Down 1.89%, SNDK Down 5.05%
AMD Down 5.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE improved big time & close was impressive again. Internals have improved substantially which is a good sign of a turn in progress. It is impossible to time any market especially a volatile one, most of the gains are made when no one expects them. We probably have seen the worst of this selling, today we made higher low which is a sign of support for this TAPE.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1862.76, high 1876.01, low 1835.02
RSI @ 29.31
CMF @ -0.201
Internals were :
UP volume led by 1.55 to 1 in NYSE & 1.50 to 1 in Nasdaq
Advancing stocks led by 2.42 to 1 in NYSE & 2.01 to 1 in Nasdaq
Net new 52 wk lows were leading by 117 in NYSE & by 76 in Nasdaq
VIX Down 4.00% @ 25.20
Oil @ $82.70
Gold @ $1241.20
Stocks which were UP 1% or more included AKS LULU MU NXPI SWIR TSL BBRY JCP GG YY EXPE BIDU PCLN
OWW BABA WUBA LVS KOG JKS SU V WB FEYE
FSLR SPWR INVN YNDX BSFT HIMX SNDK
LSCC CIEN FNSR CSIQ M SPLK STLD
ABX DATA CSOD MGA WLT WYNN..
AH ER GOOG Down 1.89%, SNDK Down 5.05%
AMD Down 5.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE improved big time & close was impressive again. Internals have improved substantially which is a good sign of a turn in progress. It is impossible to time any market especially a volatile one, most of the gains are made when no one expects them. We probably have seen the worst of this selling, today we made higher low which is a sign of support for this TAPE.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Indices are mixed after lower opening.
S&P 500 @ 1867.65, high 1876.01, low 1835.02
Internals are positive by 2 to 1
Oil UP 96 cents
Gold Down $4.00
Canadian $ UP 7 tick @ 87.54
VIX Down 3.50% @ 25.33
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 3.21 following are red :
EGO LEN QIHU OTEX TWTR LNKD TSLA
GOOGL AAPL FB RVBD COH AMZN
DNKN CMG EBAY FFIV MA ARUN
NFLX GMCR MCD X AEM TRLA
Z GS AGU......
BLOG does NOT give buy or sell.
PS...was tied up with an important task, thus BLOG delayed.
Saleem
S&P 500 @ 1867.65, high 1876.01, low 1835.02
Internals are positive by 2 to 1
Oil UP 96 cents
Gold Down $4.00
Canadian $ UP 7 tick @ 87.54
VIX Down 3.50% @ 25.33
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 3.21 following are red :
EGO LEN QIHU OTEX TWTR LNKD TSLA
GOOGL AAPL FB RVBD COH AMZN
DNKN CMG EBAY FFIV MA ARUN
NFLX GMCR MCD X AEM TRLA
Z GS AGU......
BLOG does NOT give buy or sell.
PS...was tied up with an important task, thus BLOG delayed.
Saleem
Wednesday, October 15, 2014
Indices closed down .28% to 1.06%.....
Another horrendous selling took place, but indices pared majority of losses.
S&P 500 @ 1862.49, low 1820.66, high 1874.18
RSI @ 29.22
CMF @ -0.200
Internals were :
UP volume led by .64 to 1 in NYSE & 1.02 to 1 in Nasdaq
Advancing stocks led by .89 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk lows were leading by 580 in NYSE & 296 in Nasdaq
VIX UP 15.18% @ 26.25, high today 31.06..new 52 wk high
Oil @ $81.78
Gold @ $1244.80
AH ER ...LVS UP 1.79%, EBAY Down 1.25%,
NFLX Down 26.24%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is still in digestive mode for all the issues which it is dealing with. Today's close is extremely encouraging & had the feel of capitulation. It needs to be seen IF there is buying momentum to confirm any UP moves. In the meantime, stay with strong stocks and be conservative plus diversified.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1862.49, low 1820.66, high 1874.18
RSI @ 29.22
CMF @ -0.200
Internals were :
UP volume led by .64 to 1 in NYSE & 1.02 to 1 in Nasdaq
Advancing stocks led by .89 to 1 in NYSE & 1.24 to 1 in Nasdaq
Net new 52 wk lows were leading by 580 in NYSE & 296 in Nasdaq
VIX UP 15.18% @ 26.25, high today 31.06..new 52 wk high
Oil @ $81.78
Gold @ $1244.80
AH ER ...LVS UP 1.79%, EBAY Down 1.25%,
NFLX Down 26.24%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE is still in digestive mode for all the issues which it is dealing with. Today's close is extremely encouraging & had the feel of capitulation. It needs to be seen IF there is buying momentum to confirm any UP moves. In the meantime, stay with strong stocks and be conservative plus diversified.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.62% to 2.00%....
TAPE is in freefall on worldwide economic growth concern.
S&P 500 @ 1839.68, low 1820.66, high 1874.18
Internals are negative by minimum 2 to 1
Oil Down 26 cents
Gold UP $6.70
Canadian $ unchanged @ 87.07...a 5 year low against US$
VIX UP 22.16% @ 27.84...new 52 wk high
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.39 following are green :
EGO NXPI SWIR LEN TSL YY YELP TWTR
BIDU BABA JKS SINA WB SPWR INVN
GRPN AMCC LSCC BBRY PANW
GMCR SPLK SLW AEM CSOD
LNKD WLT TRLA Z MLNX...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1839.68, low 1820.66, high 1874.18
Internals are negative by minimum 2 to 1
Oil Down 26 cents
Gold UP $6.70
Canadian $ unchanged @ 87.07...a 5 year low against US$
VIX UP 22.16% @ 27.84...new 52 wk high
Portfolio AKS EGO LULU MU NXPI
Most stocks are down
@ 2.39 following are green :
EGO NXPI SWIR LEN TSL YY YELP TWTR
BIDU BABA JKS SINA WB SPWR INVN
GRPN AMCC LSCC BBRY PANW
GMCR SPLK SLW AEM CSOD
LNKD WLT TRLA Z MLNX...
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 14, 2014
Indices closed mixed....
Indices closed mixed after a volatile session.
S&P 500 @ 1877.70, high 1898.71, low 1871.79
RSI @ 31.37
CMF @ -0.262
Internals were :
UP volume led by 1.74 to 1 in NYSE & 2.04 to 1 in Nasdaq
Advancing stocks led by 1.57 to 1 in NYSE & 1.59 to 1 in Nasdaq
Net new 52 wk lows were leading by 324 in NYSE & 168 in Nasdaq
VIX Down 7.51% @ 22.79
Oil @ $81.84
Gold @ $1234.30
Stocks which were UP 1% or more included MU NXPI
SWIR COH LVS LNKD LEN TSLA SINA DNKN
CMG MA GG YELP GRPN OWW FSLR C M
SPWR ONVO INVN HIMX CRUS SNDK
JDSU FNSR INTC NFLX PANW X
STLD ABX SLW DATA CSOD
WLT TRLA Z.....
AH ER INTC UP 2.61%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE surprised most participant by losing all the gains & went into negative, this may be the best thing happened to this bear TAPE, we may have flushed out the last standing die hard bull and forced them into selling.TAPE may start to move UP gradually as many issues have been discounted. IF everyone is bearish and sure this TAPE is headed down, then guess what, we may be headed UP from here.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1877.70, high 1898.71, low 1871.79
RSI @ 31.37
CMF @ -0.262
Internals were :
UP volume led by 1.74 to 1 in NYSE & 2.04 to 1 in Nasdaq
Advancing stocks led by 1.57 to 1 in NYSE & 1.59 to 1 in Nasdaq
Net new 52 wk lows were leading by 324 in NYSE & 168 in Nasdaq
VIX Down 7.51% @ 22.79
Oil @ $81.84
Gold @ $1234.30
Stocks which were UP 1% or more included MU NXPI
SWIR COH LVS LNKD LEN TSLA SINA DNKN
CMG MA GG YELP GRPN OWW FSLR C M
SPWR ONVO INVN HIMX CRUS SNDK
JDSU FNSR INTC NFLX PANW X
STLD ABX SLW DATA CSOD
WLT TRLA Z.....
AH ER INTC UP 2.61%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE surprised most participant by losing all the gains & went into negative, this may be the best thing happened to this bear TAPE, we may have flushed out the last standing die hard bull and forced them into selling.TAPE may start to move UP gradually as many issues have been discounted. IF everyone is bearish and sure this TAPE is headed down, then guess what, we may be headed UP from here.
BLOG does NOT give buy or sell.
Saleem
Indices UP .45% to .84%.....NICE !!!!
TAPE is staging a muted oversold bounce so far.
S&P 500 @ 1888.15, high 1898.71, low 1876.18
Internals are positive by minimum 2 to 1
Oil Down $2.10
Gold UP $4.40
Canadian $ Down 69 tick @ 87.35..lowest level in 6 months
VIX Down 7.43% @ 22.81
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 1.45 following are red :
EGO EXPE BIDU AAPL BABA WUBA JKS
SU YUM V GMCR MGA TRIP......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1888.15, high 1898.71, low 1876.18
Internals are positive by minimum 2 to 1
Oil Down $2.10
Gold UP $4.40
Canadian $ Down 69 tick @ 87.35..lowest level in 6 months
VIX Down 7.43% @ 22.81
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 1.45 following are red :
EGO EXPE BIDU AAPL BABA WUBA JKS
SU YUM V GMCR MGA TRIP......
BLOG does NOT give buy or sell.
Saleem
Monday, October 13, 2014
Indices closed down 1.35% to 1.65%.....
Indices tumbled again to close @ low of the day.
S&P 500 @ 1874.74, low 1874.74, high 1912.09
RSI @ 30.45
CMF @ -0.202...lowest level in five months
Internals were :
Down volume led by 3.07 to 1 in NYSE & 7.69 to 1 in Nasdaq
Declining stocks led by 2.15 to 1 in NYSE & 1.31 to 1 in Nasdaq
Net new 52 wk lows were leading by 409 in NYSE & 286 in Nasdaq
VIX UP 16.01% @ 24.64...new 52 wk high
Oil @ $85.74
Gold @ $1231.00...highest level in 4 weeks....
Stocks which closed green included EGO
GG FB WUBA COH FFIV WB FEYE
INVN YNDX AMCC LSCC AEM
WLT....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE is collapsing in a hurry and is well below 200 DMA in all indices. We are deeply oversold and may have an oversold bounce on Tuesday, but we may be back to downward pressure by close on Wednesday. Use rally to reduce your exposure or to lock gains. Buying on Down days and selling on UP days may be the best strategy for near term.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1874.74, low 1874.74, high 1912.09
RSI @ 30.45
CMF @ -0.202...lowest level in five months
Internals were :
Down volume led by 3.07 to 1 in NYSE & 7.69 to 1 in Nasdaq
Declining stocks led by 2.15 to 1 in NYSE & 1.31 to 1 in Nasdaq
Net new 52 wk lows were leading by 409 in NYSE & 286 in Nasdaq
VIX UP 16.01% @ 24.64...new 52 wk high
Oil @ $85.74
Gold @ $1231.00...highest level in 4 weeks....
Stocks which closed green included EGO
GG FB WUBA COH FFIV WB FEYE
INVN YNDX AMCC LSCC AEM
WLT....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE is collapsing in a hurry and is well below 200 DMA in all indices. We are deeply oversold and may have an oversold bounce on Tuesday, but we may be back to downward pressure by close on Wednesday. Use rally to reduce your exposure or to lock gains. Buying on Down days and selling on UP days may be the best strategy for near term.
BLOG does NOT give buy or sell.
Saleem
Indices down .03% to .25%.......
Indices are down and making lower lows in all indices.
S&P 500 @ 1902.15, low 1890.67, high 1912.09
Internals are positive
Oil Down 19 cents
Gold UP $9.90
Canadian $ UP 5 tick @ 88.07
VIX UP .24% @ 21.29, high today 22.46..a new 52 wk high
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.32 following are red by 1% :
AKS LULU NXPI SWIR TSL GTAT YY YELP
TWTR EXPE YHOO TSLA PCLN GRPN
OWW KOG JKS CSIQ CMG EBAY
YUM FSLR SPWR HIMX SNDK
NFLX PANW SPLK SBUX
DATA MGA TRLA Z
TRIP.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 1902.15, low 1890.67, high 1912.09
Internals are positive
Oil Down 19 cents
Gold UP $9.90
Canadian $ UP 5 tick @ 88.07
VIX UP .24% @ 21.29, high today 22.46..a new 52 wk high
Portfolio AKS EGO LULU MU NXPI
Most stocks are UP
@ 2.32 following are red by 1% :
AKS LULU NXPI SWIR TSL GTAT YY YELP
TWTR EXPE YHOO TSLA PCLN GRPN
OWW KOG JKS CSIQ CMG EBAY
YUM FSLR SPWR HIMX SNDK
NFLX PANW SPLK SBUX
DATA MGA TRLA Z
TRIP.....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 12, 2014
Are we heading to much dreaded 10% correction ?
VIX making new 52 wk highs, once an index makes a new high, it has a tendency to make series of new highs...Bearish picture
Nasdaq & Dow below 200 DMA.....Bearish picture...more downside
S&P 500 just a hair above 200 DMA....Bearish picture...more downside
RSI @ 35.12.....Bearish picture...more downside
Bulls 48%....Bearish picture...more downside
Bears 32%....Bearish picture....more downside
Many traders gets very excited when we have an oversold bounce, but immediately we get slapped down with renewed selling, in short term that picture remains intact......Bearish picture...more downside...
SO...where is the first support for S&P 500, it is 1840 area.....we can build from here IF there are enough "buyers with conviction not short covering"
SO..how to adjust to this "bearish reversal"....????
Keep expectations very low.......
Adjust to "new TAPE"...very quickly
Margin call to be anticipated & acted upon immediately, not delayed to minimize portfolio erosion.....
There will be cascade of margin call selling on Monday, hedge funds who are long may have "billions in margin call"...thus a quick sell off till 11 AM to 1 PM.....
Expect some stabilization going into close on Monday
Try to stay diversified, not overweight in one sector.
I have a feeling we may be heading towards a full blown correction of 10%.....before it is all over ?
Earning guidance may be sloppy for Q 4, which may trigger full blown correction ?
BLOG does NOT give buy or sell.
Saleem
Nasdaq & Dow below 200 DMA.....Bearish picture...more downside
S&P 500 just a hair above 200 DMA....Bearish picture...more downside
RSI @ 35.12.....Bearish picture...more downside
Bulls 48%....Bearish picture...more downside
Bears 32%....Bearish picture....more downside
Many traders gets very excited when we have an oversold bounce, but immediately we get slapped down with renewed selling, in short term that picture remains intact......Bearish picture...more downside...
SO...where is the first support for S&P 500, it is 1840 area.....we can build from here IF there are enough "buyers with conviction not short covering"
SO..how to adjust to this "bearish reversal"....????
Keep expectations very low.......
Adjust to "new TAPE"...very quickly
Margin call to be anticipated & acted upon immediately, not delayed to minimize portfolio erosion.....
There will be cascade of margin call selling on Monday, hedge funds who are long may have "billions in margin call"...thus a quick sell off till 11 AM to 1 PM.....
Expect some stabilization going into close on Monday
Try to stay diversified, not overweight in one sector.
I have a feeling we may be heading towards a full blown correction of 10%.....before it is all over ?
Earning guidance may be sloppy for Q 4, which may trigger full blown correction ?
BLOG does NOT give buy or sell.
Saleem
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