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
10 comments:
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
Hi Stocktrader,
IF it acts like a BULL it must be a BULL..
Saleem
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
Hi Stocktrader
Things are looking UP..
Saleem
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
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
Hi Stocktrader,
Good luck with JKS.
Saleem
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
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
Hi Stocktrader,
Good luck with GM LUV.
Saleem
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