Indices closed UP in the middle of range......
S&P 500 @ 2106.63, high 2111.91, low 2097.82
RSI @ 57.98
CMF @ 0.034
Internals were :
UP volume led by 2.22 to 1 in NYSE & 2.59 to 1 in Nasdaq
Advancing stocks led by 2.04 to 1 in NYSE & 1.93 to 1 in Nasdaq
Net new 52 wk highs were leading by 111 in NYSE & 105 in Nasdaq
VIX Down 6.07% @ 12.84
Oil @ $56.39
Gold @ $1201.30
Stocks which were UP 2% or more included
AKS BBRY GPRO VDSI
OTEX FEYE QIHU GG YELP
NXPI SWIR SINA SU FFIV FSLR
SPWR YNDX BRCM AMCC JDSU SPLK
ABX SLW AEM CCJ CSOD CNQ Z MLNX.....
AH ER... SNDK Down 5.91%, PNRA UP 11.03%,
NFLX UP 11.79%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE turned around in a big way, all you have to do is see the internals of this market tonight vs last night, i am extremely disciplined in reading market through internals. Once internals are positive my comfort level is extremely high. All the key indices are making higher highs vs few days ago, that is another indicator which turned UP today. All indices are above some magic numbers like S&P 500 above 2100, Nasdaq above 5,000K and Dow above 18000K...none of this was there last night....all in all major positives was attained in technicals..This should lead us to new all time highs in short order. Last note, those who follow the market NEVER FIGHT THE TAPE.
BLOG does NOT give buy or sell.
PS...tonight i am starting 9 years of publishing this BLOG, thanks to worldwide audience which includes all continents who log in to read my BLOG, it is a real labor of love to write this BLOG.
Saleem
6 comments:
Hi Saleem,
Congrats on a great 9 years! I am sure there are many people that benefitted from your discipline and patience in troubled times. Let's hope the next 9 are a bit easier! :)
Stocktrader
Hi Stocktrader,
Since April 15,2007...we have seen housing boom, financial crisis,march 2009 low,QE 1,2,3.....iraq wars,afghan surge,Libyan attack and then series of new all time highs.....
Yes ..it has been a journey in this BLOG with visitors.....
I am sure next 8 years will be as exciting......
Saleem
Hi Saleem,
Swapped some speculative stocks:
Sold CSOD @ ~29.92
Bought YELP @ 48.995
I like the chart and short interest on YELP much better.
Stocktrader
Hi Stocktrader,
Good luck with YELP...
Added 35% RAD @ $8.27
Saleem
Hi Saleem,
Actually, I'm already somewhat regretting buying YELP. Sometimes I get too caught up short-term price action and forget why I wasn't in the stock in the first place.
Good luck with more RAD--such a great continuing emergence story! :)
Stocktrader
Hi Stocktrader,
We are all victim of our trading style and strategy...BUT most of the time it works....as long as law of averages hold...it is all part of the game.
Saleem
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