Indices were under mild selling pressure and closed mixed.
S&P 500 @ 2012.10, low 2001.01, high 2015.98
RSI @ 63.37
CMF @ 0.179
Internals were :
Down volume led by 1.98 to 1 in NYSE & 1.22 to 1 in Nasdaq
Declining stocks led by 1.48 to 1 in NYSE & 1.38 to 1 in Nasdaq
Net new 52 wk highs were leading by 127 in NYSE & by 35 in Nasdaq
VIX UP 1.09% @ 14.89
Oil @ $77.19
Gold @ $1167.70
AH ER... TRIP Down 11.56%, FEYE Down 20.29%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE continuing its digestive phase. Internals have gone weaker.Many earnings report were surprisingly bad like AKS, KORS & PCLN. Follow a disciplined approach and show conviction. TAPE has become very erratic and only few boats are being lifted.
BLOG does NOT give buy or sell.
PS...i will be away during the day, so there will be only a closing BLOG.
Saleem
3 comments:
Hey Saleem,
It is getting pretty late in the year to stick with underperforming stocks. AKS might be in trouble...
Stocktrader
Hey Saleem,
I caught the first 30 minutes of DATA's conference call before I had to head out to a kid's school event. They guided for 40% revenue growth next year which is well ahead of analysts expectations, especially considering this year was guided up by $20M on top of it. No hiccups for these guys yet...
Stocktrader
Hi Stocktrader,
Thanks for your take on AKS...i have to see what is their forecast for now.
DATA is on a roll.
Saleem
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