Indices closed near high of the day erasing most of the down move while Nasdaq closed green.
S&P 500 @ 2059.82, high 2060.60, low 2034.17
RSI @ 58.56
CMF @ 0.280
Internals were :
UP volume led by 1.36 to 1 in NYSE & 1.99 to 1 in Nasdaq
Advancing stocks led by 1.52 to 1 in NYSE & 2.11 to 1 in Nasdaq
Net new 52 wk lows were leading by 137 in NYSE & 72 in Nasdaq
VIX @ 14.89
Oil @ $63.82
Gold @ $1232.00
Stocks which were UP 2% or more included AKS EGO LULU
SWIR JCP QIHU GG YELP TWTR GRPN OWW BABA
SINA YNDX HIMX ARUN CRUS AMCC LSCC
CIEN JDSU FNSR X ABX SLW AEM DATA
WLT.....
AH ER KKD Down 4.51%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE found support in morning slump and rallied sharply from there, Nasdaq did a "V" bottom and was "super impressive by close. Small caps was the-best performer by jumping 1.79% @ close, so Russell may be the way to go plus Nasdaq. We definitely need a conformation of this rally by Wednesday close or else all technical improvement may go to waste.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
Added PANW @ 118.89 for some cybersecurity exposure.
Stocktrader
Hi Stocktrader,
Good luck with PANW.
Saleem
Hey Saleem,
I'm looking at KSS for purchase. After selling AAL and FDX in recent weeks, I am not playing cheap oil hard enough, if at all really. I think airlines and freight carriers face certain challenges, so I'm looking for a consumer play.
Stocktrader
Hey Saleem,
Bought KSS @ 56.99.
Stocktrader
Hi Stocktrader,
Bought MU @ $35.17.
Good luck with KSS
Saleem
Hey Saleem,
I see we are both adding today. Quite the drop this morning to pick up some good bargains...
Stocktrader
Hi Stocktrader,
TAPE IS trying to discount oil slump and retesting support.
Yes it's a wonderful time to buy.
Good luck!
Saleem
Hey Saleem,
Sold ETN @ 67.50 and sold half HUN @ 24.84.
It feels like something is wrong with the world economy because of this oil situation. I wanted to reduce some cyclical exposure until this plays out a little more.
Stocktrader
Hi Stocktrader,
It is important to have high comfort level with all stocks in your portfolio or else do what you did.
Saleem
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