Indices accelerated on the downside with Dow & Nasdaq closing below 200 DMA, S&P 500 just few tick away from 200 DMA.
S&P 500 @ 1906.13, low 1906.05, high 1936.98
RSI @ 35.12
CMF @ -0.133
Internals were :
Down volume led by 5.25 to 1 in NYSE & 8.03 to 1 in Nasdaq
Declining stocks led by 3.66 to 1 in NYSE & 2.74 to 1 in Nasdaq
Net new 52 wk lows were leading by 420 in NYSE & 322 in Nasdaq
VIX UP 13.22% @ 21.24, high today @ 22.06 a new 52 wk high
Oil @ $85.82
Gold @ $1221.70
Canadian $ @ 88.06
In my portfolio :
Sold SWIR @ $23.77
Here is my weighting :
LULU 29.89%
EGO 27.70%
MU 22.06%
NXPI 11.93%
AKS 8.42%
Exposure 179%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
4 comments:
LULU is probably my favourite of your holdings atm, though I can't say what it should be valued at.
LULU would benefit from cheap foreign production (strong dollar).
High VIX is a sign of approaching bottom supposedly, so maybe Monday will see a rebound.
I regret selling DUK (utility). Rates won't be increased now.
RAD continues to be great to flip. WAG continues to rise, though it has low earnings estimate...
I might buy DAL if I can get a sign that Ebola + global recession hasn't slain the airlines. Cheap oil should lower costs.
AKS: some analyst claims steel demand is down, so it might be risky with rest of world in recession. I can't say I really know.
Hi Firebird,
Thanks for your comment and liking LULU..
AKS and most stocks are suffering from lack of demand which now includes Chips,Oil,base metals, gold ++++
Saleem
Hi Salem, new high/ new low list is flashing major warning sign of much further downside. Any thoughts? Thanks charlie
Hi Charlie,
We have a "capitulation downside left" maybe on Monday.....
Saleem
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