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
Hey Saleem,
ReplyDeleteJust 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,
ReplyDeleteBought 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,
ReplyDeleteBought 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,
ReplyDeleteI am very tempted by KORS here. My wife says they are still "hot"! LOL
Stocktrader
Hi Stocktrader,
ReplyDeleteWelcome back!
Good luck with HUN & ETN....
KORS is @ a better price than when i bought.....
Saleem