Dow & S&P 500 are below 50 DMA which is a technical breakdown in an uptrend. They are @ low of the day.
S&P 500 @ 2048.88, high 2076.14
Internals are negative by more than 2 to 1
Oil Down $1.35
Gold Down $6.00
Canadian $ Down 55 tick @ 73.45
VIX UP 10.16% @ 16.59
Portfolio AKS BBRY GPRO LULU KORS MU
Most stocks are down
@ 2.28 following are green :
GPRO LULU KORS TSLA BABA JCP BIDU DNKN
HIMX M ......
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Market is down so much but why there is not any fear, VIX is not moving that much. Is the market set up for rebound?
Thanks
John
Hi John,
Sometimes VIX not jumping 20% may mean there is too much complacency which may be the case now.....
Not enough traders buying protection as they are used to seeing quick rebound..may not happen this time...
Saleem
Bought small amount of LL 29.6
It sounds like in most cases the recommendation for bad flooring is to simply air them out..., unless health problems arise.
The LL conference call is Thursday, 10am est.
Hi Firebird,
I think LL buy is a good strategy, i saw the segment on 60 minutes, company is bigger than laminate sales....
Saleem
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