Indices found support and made a spirited move UP to close near high of the day.
S&P 500 @ 2021.25, high 2024.64, low 1989.18
RSI @ 46.78
CMF @ 0.024
Internals were :
UP volume led by 1.60 to 1 in NYSE & 2.30 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 2.05 to 1 in Nasdaq
Net new 52 wk highs were leading by 66 in NYSE & lows by 67 in Nasdaq
VIX Down 8.22% @ 18.76
Oil @ $44.53
Gold @ $1255.90
Stocks which were UP 1% or more included BBRY MU TSL
SWIR LEN OTEX LNKD TSLA PCLN KORS AAPL
GRPN FB LULU COH AMZN DNKN YUM
FFIV LSCC C PANW SBUX MCD
DATA MS GS AGU MLNX....
AH ER V UP 4.6%, AMZN UP 12.24%, JDSU Down 4.79%
AH Futures Mixed
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE showed strength on oversold conditions, Internals improved. Earnings reaction are positive despite misses, this may be the result of stocks being washed out & ready to move UP. TAPE may move further UP. Stay involved, there is alway's surprise on the UP side when downside is so sure, welcome to Wall Street.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hey Saleem,
I had a feeling last night that I got a little too aggressive based on subtle changes to the Fed statement, but the price action had been counter to my thesis all week and today started out poorly again. I am more confused than I've been all year--I probably missed out on a great chance to rebuy this morning though...
Stocktrader
Hey Saleem,
Not confused, more like unsure. The deflationary pressures make it really difficult to forecast earnings in my opinion.
Stocktrader
Hi Stocktrader,
Stock market is difficult lately thus easy to lose focus.
It is a fast turn market max 48 hours in one direction.
All boats are not being lifted very stock specific.
I am sure you will adjust to this mad mad TAPE.
Saleem
Hey Saleem,
Bought a few of my favorite stocks with the best charts:
Bought NOW @ 70.744
Bought PANW @ 128.30
Stocktrader
Hey Saleem,
...and I had to rebuy my favorite:
Bought SPLK @ 52.52 avg.
I always get nervous ahead of earnings based on price action or competitive rumors or whatever, and the conference call is always amazing. I'm sticking it out this time.
Stocktrader
Hey Saleem,
Bought PFPT @ 49.939.
Absolutely amazing billings growth and positive conference call (skipped AMZN and GOOGL for these guys). I think their new products will allow them to occupy a higher value niche within the security ecosystem, and they become an attractive takeover candidate.
Stocktrader
Hi Stocktrader,
Good luck with your software / security exposure.
Saleem
Hey Saleem,
Market doesn't feel good today. I'm tempted to put on a hedge to protect the new positions I established today.
Stocktrader
Hi Stocktrader,
Navigating this market is tough.
Volatility is very high.
Saleem
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