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
at

10 comments:

  1. stocktrader_1996October 23, 2014 at 6:21 AM

    Hey Saleem,

    This is starting to look more like a bull again. After you get a down day, the next day futures make up all the losses--that's a key indicator of a strong market.

    Stocktrader

    ReplyDelete
  2. Stocks100October 23, 2014 at 6:29 AM

    Hi Stocktrader,

    IF it acts like a BULL it must be a BULL..

    Saleem

    ReplyDelete
  3. stocktrader_1996October 23, 2014 at 8:15 AM

    Hey Saleem,

    I hate buying on huge up days, but I think this will keep going. I think we've seen the "sentiment lows" for economic activity in Europe and China which should make for further nice moves in cyclical stocks.

    Stocktrader

    ReplyDelete
  4. Stocks100October 23, 2014 at 8:55 AM

    Hi Stocktrader

    Things are looking UP..

    Saleem

    ReplyDelete
  5. stocktrader_1996October 23, 2014 at 9:03 AM

    Hey Saleem,

    Oh my! The highest amount of investors calling for a correction in the last 30 years (all the data history I could find) in the Investors Intelligence Survey.

    Major portfolio managers may be underinvested right here.

    Stocktrader

    ReplyDelete
  6. stocktrader_1996October 23, 2014 at 9:06 AM

    Hey Saleem,

    Re-entered JKS @ 23.374.

    Earnings and guidance should be great--the only question mark is another capital raise. I think the stock fairly discounts this possibility now.

    Stocktrader

    ReplyDelete
  7. Stocks100October 23, 2014 at 9:09 AM

    Hi Stocktrader,

    Good luck with JKS.

    Saleem

    ReplyDelete
  8. stocktrader_1996October 23, 2014 at 9:11 AM

    Hey Saleem,

    Bought LUV @ 34.94.

    The projected cost savings from fuel prices are amazing for Q4. They also continue to have pricing power. I am concerned about the short-term overbought situation, but the longer term looks bright.

    Stocktrader

    ReplyDelete
  9. stocktrader_1996October 23, 2014 at 9:15 AM

    Hey Saleem,

    Bought GM @ 31.105.

    I didn't hear anything negative in the conference call--in fact, just the opposite. I think this is just "sell the news" after yesterday's nice gain in a bad tape, and many investors want to call a top in the auto cycle--I think that is premature.

    Stocktrader

    ReplyDelete
  10. Stocks100October 23, 2014 at 9:37 AM

    Hi Stocktrader,

    Good luck with GM LUV.

    Saleem

    ReplyDelete