Indices closed @ high of the day after struggling earlier.
S&P 500 @ 2031.21, high 2031.61, low 2015.86
RSI @ 66.91
CMF @ 0.269....highest level in 3 weeks
Internals were :
UP volume led by 1.48 to 1 in NYSE & 1.56 to 1 in Nasdaq
Advancing stocks led by 1.31 to 1 in NYSE & 1.43 to 1 in Nasdaq
Net new 52 wk highs were leading by 107 in NYSE & by 49 in Nasdaq
VIX Down 3.53% @ 13.67
Oil @ $77.91
Gold @ $1142.60
Stocks which were UP 2% or more included EGO LULU
SWIR LEN JCP GG LNKD TSLA BABA JKS CSIQ
FEYE BSFT PANW M SPLK ABX SLW AEM
DATA TRIP.....
AH ER .....LOCO Down 2.65%, FSLR Down 7.29%
NVDA UP 2.13%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE closed on a strong note near high of the day, Dow & S&P 500 @ a new all time highs. Job picture is improving dramatically and Jobs report @ 830 AM may reflect a beat on expectations. I am expecting a blow off phase which may come tomorrow, take advantage of that and book some gains.
BLOG does NOT give buy or sell.
PS....there was an urgent need for me to take care of some dental issue in the family, took way longer than expected, thus missed my PM BLOG.
Saleem
11 comments:
Hey Saleem,
I don't know if you saw this post, but the difference in opinion is incredible on AKS:
http://finance.yahoo.com/news/ak-steel-analyst-roundup-214622232.html
Last night's news that they won some trade disputes looks nicely positive :)
Stocktrader
Hi Stocktrader,
Came home around 830 PM, barely had time to prepare for my BLOG.
Saw the headline on AKS dispute and AH gain of 2 percent.
Will read other linkage which you have given.
Thanks for sharing.
Saleem
Hey Saleem,
Added to FDX @ 171.70
Added to GS @ 191.00
Stocktrader
Hey Saleem,
Bought AAL @ 43.045.
Stocktrader
Hi Stocktrader,
Good luck with AAL and add on to GS, FDX..
Saleem
Hey Saleem,
I've really been hit hard in my speculation stocks. Had BALT and it dropped from $3.95 to $3.35 from Tuesday close to Thursday open. Picked up AKS at 7.48 Monday, only to see it drop to 6.25 by Tuesday midday. These are 15%+ drops each, and even with the lower weighting due to speculative nature, they have hurt the good, slow, up moves in the portfolio anchors.
I'm sticking with only high relative strength into year end. Any miss by a speculative stock turns into a dumping ground quickly as portfolio managers need to purge it before year end.
Stocktrader
Hey Saleem,
Let's not forget the BTU I sold at 10.25 on Tuesday only to see it at 11.40 today, and of course AKS popping so nicely today.
Been a tough mental week...
Stocktrader
Hi Stocktrader,
I know few trades can bring the whole portfolio down.
Good to stay with strong stocks.
Saleem
Hi Stocktrader,
Try to look ahead and do research to find better ideas.
I know these trades are anomaly and not a usual occurrence.
Saleem
Chip Wilson's wife and son run *Kit and Ace* store that looks similar to Lululemon.
I dunno what plans they have for it, but I thought you should be aware. Kit and Ace even has an online store.
I expect they have great ability at running such a store.
Hi Firebird,
YES I am fully aware of that store in Vancouver and have read report on their operation..it is positive for 1 store concept..so far it's a wait and see story.
Saleem
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