Indices closed near high of the day on Fed interest rate policy stance.
S&P 500 @ 2012.89, high 2016.75, low 1973.77
RSI @ 45.34
CMF @ -0.025
Internals were :
UP volume led by 17.59 to 1 in NYSE & 10.85 to 1 in Nasdaq
Advancing stocks led by 7.90 to 1 in NYSE & 3.99 to 1 in Nasdaq
Net new 52 wk lows were leading by 36 in NYSE & 38 in Nasdaq
VIX Down 17.52% @ 19.44
Oil @ $56.47
Gold $1194.50
Stocks which were UP 2% or more included
AKS BBRY EGO MU NXPI
LEN JCP QIHU GG YY YELP
YHOO TSLA PCLN AAPL GRPN
OWW BABA COH DNKN CMG SU
YUM MA V FEYE FSLR SPWR YNDX
SNDK AMCC CIEN FNSR C NFLX PANW
SPLK MCD X STLD ABX SLW AEM CCJ DATA
CSOD MS AGU......
AH ER JBL UP 5.58%
AH Futures Mixed
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE was strong after Fed gave a clear signal that they will take time in hiking interest rate. All indices are above 50 DMA which is a very good thing. UP volume was the strongest in many years, which is telling us that that many traders, institutions were buying in a hurry. We may have seen the low for this slump and are all set to go higher.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hey Saleem,
Bought NXPI @ 76.549.
Stocktrader
Hi Stocktrader,
Good luck with NXPI..it is ready to breakout to all time high.
Saleem
Hey Saleem,
Bought RUTH @ 13.647.
This was probably my biggest mistake sell in the recent decline. It was very impressive how it held up as a small cap in the face of the market disaster. I think good things are ahead--fundamentals are improving.
Stocktrader
Hey Saleem,
The only other thing I should have tried to reach for was a financial. GS up $6 now--not sure that's a good entry...
Stocktrader
Hey Saleem,
I went against my rule and bought ETN @ 66.55 (rule = above both moving averages). These guys are in the midst of an uptrend in their cycle versus their misses last year. I like the setup for next year, but realize my timing might not be perfect. At least the stock is one of the cheaper industrials right now given the issues they have had.
Stocktrader
Hi Stocktrader,
Good luck with RUTH & ETN.
Saleem
Hey Saleem,
AKS is a shining star as compared to STLD's and NUE's pre-announcements in recent days. It is a shame the whole sector isn't working so well, AKS could be screaming higher even more. I am tempted even with daily decreasing steel prices...
Stocktrader
Hi Stocktrader,
Just got back from chores, will skip PM post, will cover everything with 10 PM post.
Yes AKS pre announcement is working.
Good luck with your decision.
Saleem
Post a Comment