Indices closed lower after giving up all the gains.
S&P 500 @ 2104.42, low 2104.42, high 2114.86
RSI @ 56.33
CMF @ 0.057
Internals were :
UP volume led by 1.44 to 1 in NYSE & .75 to 1 in Nasdaq
Advancing stocks led by 1.39 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 225 in NYSE & 115 in Nasdaq
VIX UP 3.00% @ 13.41
Oil @ $47.45
Gold @ $1187.70
Stocks which were UP included AKS GPRO KORS
QIHU GG YY YELP BIDU AAPL JCP WUBA
COH BIDU JKS CSIQ SU EBAY MCD X
STLD ABX SLW AEM CNQ WYNN....
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE traded in a very narrow range, indices closed @ absolutely lowest point of the day including fraction. Market internals stayed healthy and marked time for a further move higher. I expect this TAPE to hit all time highs this week. Next six weeks are extremely bullish in terms of seasonality, after that "sell in may " takes over. It may not be a bad idea to capitalize on this seasonal strength.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hey Saleem,
Just got back. Catching up on many things now. Sold SGMO earlier today @ ~17.32. Recorded the portfolio info on paper on Sunday and will transfer to spreadsheet later tonight--I didn't open the account all last week!
Good luck with SWIR!
Stocktrader
Hey Saleem,
Bought ETN @ 68.12.
With the stabilizing euro, and support in the chart right here, I am giving this name a go again :)
Stocktrader
Hey Saleem,
Bought HUN @ 21.69.
Some of the news I missed last week was a euro bond offering they did at great rates. Cheap financing should allow for expansion or potentially a buyback of shares--either way, shareholder friendly actions.
Stocktrader
Hey Saleem,
I am very tempted by KORS here. My wife says they are still "hot"! LOL
Stocktrader
Hi Stocktrader,
Welcome back!
Good luck with HUN & ETN....
KORS is @ a better price than when i bought.....
Saleem
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