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
8 comments:
Hey Saleem,
Interesting note--I'd have to agree:
09:37 EDT NXPI, BABA, AAPL theflyonthewall.com:
NXP Semiconductors would benefit from Apple, Alibaba deal, says Sterne Agee
After Apple (AAPL) CEO Tim Cook indicated that Apple Pay could partner with Alibaba (BABA), Sterne Agee thinks that such a deal would benefit NXP Semiconductors (NXPI) by opening up the China market to the company's NFC chips. The firm also believes that a deal between Apple and Alibaba would create a domino effect, with more smartphones entering the mobile payment ecosystem. The firm keeps an $82 price target and Buy rating on NXP Semiconductors. :theflyonthewall.com
Stocktrader
Hey Saleem,
The Baltic Dry Index is going straight up. As soon as this month's window dressing is over (forcing some short-term selling), I expect those stocks to have a nice run into the end of the year.
Stocktrader
Hey Saleem,
Took profits in PANW @ 106.017.
Stocktrader
Hi Stocktrader,
Thanks for NXPI related news.
Booking profit is a great idea.
Saleem
Hey Saleem,
I'm having the issue where I only trust a few companies right now to meet all my qualifications for investment, but like the overall market a lot. Given my traditional low exposure per stock, it's keeping me underinvested...
Stocktrader
Hi Stocktrader,
Many stocks are looking much better than before,add some new names..it is much exciting to find new ideas.
Look at most active names, you may like some of them, remember we never score homerun with entire portfolio, it is the singles which give us gains.
Good luck,
Saleem
Hey Saleem,
Argh, I was going to add to BALT today but I thought I had one more day...guess not.
Given the recent world/market developments and the consistently good jobs numbers, I think the Fed will lean on the hawkish side of what the market expects tomorrow. That is my fear for the end of the week and is making me hesitant to get too aggressive today.
Stocktrader
Hi Stocktrader,
When market wants to go higher, which is the case now,any negative news does not last long, not even few hours...
Saleem
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