Indices closed near high of the day on positive car sales data & Chinese stimulus hope.
S&P 500 @ 2066.55, high 2068.77, low 2053.77
RSI @ 66.02
CMF @ 0.403
Internals were :
UP volume led by 1.38 to 1 in NYSE & 2.18 to 1 in Nasdaq
Advancing stocks led by 1.97 to 1 in NYSE & 2.14 to 1 in Nasdaq
Net new 52 wk lows were leading by 6 in NYSE & 25 in Nasdaq
VIX Down 10.08% @ 12.85
Oil @ $66.88
Gold @ $1199.40
Stocks which were UP 1% or more included BBRY TSL
MU SWIR EXPE YHOO KORS OWW BABA JKS
CSIQ YUM FEYE FSLR HIMX AMCC NFLX
C DATA CSOD MS TRLA Z GS TRIP
MLNX....
AH ER / News ...OVTI Down 3.81%, MCHP UP 1.61%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE reacted positively to speculation that China may provide more stimulus to their economy, Car Sales were robust in US which says a lot about the strength of US economy. TAPE almost repaired internals except new lows still in the lead barely, hopefully that may change by Wednesday close. Dow closed @ the-highest level, again hoping that Nasdaq & S&P 500 may follow. Technicals are looking much better for this TAPE now.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hey Saleem,
Despite good internals yesterday, I think the breadth of the rally will continue to narrow into year end. I don't see managers buying anything aggressively that has above average risk.
I'm considering an AAPL position for a year end run to $125.
Stocktrader
Hey Saleem,
Sold FDX @ 180.70
Bought AAPL @ 115.50
I think the easy "low oil" trades need a rest and AAPL looks like a runner after this nice consolidation.
Stocktrader
Hey Saleem,
Sold WLH @ 20.02.
I should have sold earlier on the big move to $21 given my stance on poor relative performers into year end, but I had hope it would catch up with the rest of the homebuilders. At least I still made some good money calling the bottom in the stock, and will look again in the new year as one of the best beta plays in the homebuilder group.
Stocktrader
Hi Stocktrader,
Good luck with your AAPL.
Saleem
Post a Comment