Indices fought off selling and closed green.
S&P 500 @ 2022.55, high 2028.94, low 2004.49
RSI @ 46.69
CMF @ -0.026
Internals were :
Down volume led by 1.48 to 1 in NYSE & .91 to 1 in Nasdaq
Declining stocks led by 1.56 to 1 in NYSE & 1.42 to 1 in Nasdaq
Net new 52 wk highs were leading by 118 in NYSE & lows by 34 in Nasdaq
VIX Down 5.06% @ 19.89
Oil @ $46.39
Gold @ $1294.20....looking strong
AH ER..IBM Down 1.85%, CREE UP 7.11%, NFLX UP 15.90%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE continues to churn UP, DOWN then UP again, this implies market is very nervous about many things, there is Oil plus Central Banks trying to steer this market. TAPE staying below 50 DMA is not a good thing, we need to go above 50 DMA and stay above for days to give confidence to traders. Currencies have taken a toll and big players are scrambling to either cover from equities or liquidating equity to stay afloat. Rallies are being sold and barely green close is not building confidence. Wednesday may be challenging in markets in anticipation of QE from ECB, it may fell short of expectations, Gold is a very good hedge in this uncertain markets.
BLOG does NOT give buy or sell.
Saleem
12 comments:
Hey Saleem,
I was encouraged by the positive close after Friday's huge run and testing much lower during this day. If it wasn't for the event uncertainty of the ECB, I'd expect more positive days to follow, which we might actually get anyways. GLD and AAL propelled me higher today--maybe SPLK and YELP can piggyback on NFLX's momentum in the high growth area tomorrow.
Stocktrader
Hi Stocktrader,
Good luck with your take of market, it's not looking good for open.
Saleem
Hey Saleem,
Bought BAC @ 15.18.
Stocktrader
Hey Saleem,
Sold half GLD @ 125.01 to take profits.
Stocktrader
Hey Saleem,
Bought ETN @ 65.10 to increase cyclical exposure and ETN has a great CEO.
Stocktrader
Hey Saleem,
Bought NXPI @ 79.20.
Stocktrader
Hey Saleem,
Bought some SSYS @ 72.935.
The chart looks like it may be bottoming, and I think the time for more speculation is at hand.
Stocktrader
Hi Stocktrader,
Good moves with GLD,SSYS,NXPI and ETN.
Saleem
Hey Saleem,
I am tempted to sell the rest of the GLD and buy GS to add to my BAC purchase from earlier. I still think gold can be good though in the era of these low/negative interest rates around the world...
Stocktrader
Hi Stocktrader,
Booking profit in GLD may not be a bad idea.
Good luck with BAC.
Saleem
Hi Stocktrader,
Sold NXPI @ $80.00
Saleem
Hey Saleem,
Nice sell today!
Stocktrader
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