Indices closed @ low of the day.
S&P 500 @ 2040.24, low 2039.69, high 2050.08
RSI @ 37.97
CMF @ 0.237
Internals were :
UP volume led by 1.49 to 1 in NYSE & 1.18 to 1 in Nasdaq
Advancing stocks led by 1.36 to 1 in NYSE & 1.37 to 1 in Nasdaq
Net new 52 wk lows were leading by 68 in NYSE & 27 in Nasdaq
VIX UP 1.08% @ 16.87
Oil @ $48.17
Gold @ $1150.60
Stocks which were UP 1% or more included AKS BBRY
VDSI FEYE SWIR QIHU GG YELP TSLA EGO
WUBA JKS SPWR YNDX HIMX GRPN
CRUS SNDK C NFLX AAL X STLD
ABX SLW AEM DATA MLNX....
AH ER ...KKD Down 4.96%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was extremely bearish today, lost all its gains and closed @ low of the day. Looks like we may need a capitulation selling to discount all the complacency, TAPE does NOT look healthy. Do not suggest buying until we find support, this time it may be different and buy the dip may be a trap.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
Bought a little YELP @ 46.35 with my small leftover cash.
I still feel like these guys are best positioned to capitalize on e-commerce possibilities in the "local" space, they just need some additional partners and/or capabilities to really bring forward that vision. If they can do it however, the stock could double from here.
Stocktrader
Hi Stocktrader,
Good luck with YELP.
Saleem
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