Indices closed near low of the day.
S&P 500 @ 2080.35, low 2079.53, high 2088.49
RSI @ 59.10
CMF @ 0.004
Internals were :
Down volume led by 1.68 to 1 in NYSE & 1.80 to 1 in Nasdaq
Declining stocks led by 1.44 to 1 in NYSE & 1.55 to 1 in Nasdaq
Net new 52 wk highs were leading by 76 in NYSE & 63 in Nasdaq
VIX UP 5.71% @ 15.92
Oil @ $54.12
Gold @ $1200.40
AH futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, Chinese Final HSBC flash PMI came in @ 49.6 vs estimate of 49.5 for December, November actual was 50.00, this confirms ongoing slowdown in Chinese economy. TAPE is being affected by Oil weak prices, i do not see Oil doing any better in near term, how much oil weakness is being discounted by equities, will only know IF oil is down on Wednesday & we rally against that. Internals were weak today, that may be the reflection of low holiday volume. Volume pattern may not improve until week of 12th January.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
What do you think about TWTR for the new year? It seems like there's plenty of things that could go right, and a lot of bad news is priced in.
Stocktrader
Hey Saleem,
Bought TWTR @ 35.96.
Stocktrader
Hi Stocktrader,
We all need stocks for 2015 which will lead the market in terms of gains..TWTR could be one of those stocks..it certainly was the "dog of tech sector "
Saleem
Hey Saleem,
Added to AKS @ 5.94.
After their very positive preannouncement, I look for them to outperform in the new year as the calendar resets for portfolio managers.
Stocktrader
Hey Saleem,
I'll be selling FB and PANW near close as I think their 2015s will be more sluggish. This will put me at about 26% cash for New Year opportunities.
Stocktrader
Hi Stocktrader,
2015 strategy should be in focus.
Good luck!
Saleem
Hey Saleem,
Bought YELP @ 54.628.
Another beaten down stock looking for a rebound. Their market position is solid and have become a very attractive takeover candidate at these valuations for a number of companies.
Stocktrader
Hey Saleem,
Sold FB @ 79.581
Sold PANW @ 123.864.
This rounds out my moves for the year now I think...
Stocktrader
Hi Stocktrader,
NOW...You are all set for 2015 strategy..
Saleem
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