Indices closed near low of the day on selling from open to close.
S&P 500 @ 2020.58, low 2017.34, high 2054.44
RSI @ 41.45
CMF @ -0.158
Internals were :
Down volume led by 7.36 to 1 in NYSE & 4.74 to 1 in Nasdaq
Declining stocks led by 3.38 to 1 in NYSE & 2.40 to 1 in Nasdaq
Net new 52 wk low were leading by 4 in NYSE & high by 1 in Nasdaq
VIX UP 11.97% @ 19.92
Oil @ $50.04
Gold @ $1204.00
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was extremely weak in relentless selling. All major indices are below 50 DMA.Tonight IBD is changing its market outlook to "market in correction". There is too much momentum in oil decline and equities are all terrified of its downtrend. We may have a weak close again to confirm today's technical deterioration. Close is extremely critical now, any buying needs to wait how we are faring @ close, open has no meaning anymore.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
Swapped some TWTR @ 37.36 for some more YELP @ 52.40.
I like the overall valuation for YELP better and its ability to create shareholder value through earnings power and/or a buyout.
Stocktrader
Hi Stocktrader,
I did not realize that you had YELP
It is a better stock than TWTR.
Saleem
Hey Saleem,
Yes, on the last day of the year I swapped FB and PANW for TWTR and YELP (have since rebought PANW).
It gets complicated when I make many moves. My weekly recaps were helpful in that respect...
Current portfolio in position size order:
YELP AAL NXPI PANW RUTH KSS AKS ETN WLK SPLK TWTR AEMD
Stocktrader
Hi Stocktrader,
Thanks for your portfolio update.
Saleem
Hey Saleem,
Sold the rest of my TWTR @ 37.36 and bought more KSS @ 58.73.
Based on some board member comments at TWTR, it seems like a CEO change is not imminent--that removes one of my major catalysts and the stock has had some good days recently in the bad tape.
The efforts at KSS's to enhance their in-store and internet offering seems to be working according to some reports. There's also some speculation they may be preparing to go private, and clearly low gas prices helps their core customer.
Stocktrader
Hi Stocktrader,
Good luck with KSS.
Saleem
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