Fed is concerned about labor market and economic picture which is a good thing for US stock market , as interest rate may be on hold little longer.
S&P 500 @ 2109.87, low 2097.41, high 2113.18
Internals are negative by 2 to 1
Oil UP $1.72
Gold Down $10.30
Canadian $ UP 22 tick @ 79.89
VIX UP 4.03% @ 12.91
In my portfolio :
Added 33% VDSI @ $25.45
Portfolio AKS BBRY GPRO LULU KORS RAD VDSI
Most stocks are down
@ 2.38 following are green :
BBRY GPRO QIHU GG LNKD TSLA PCLN AMZN
FB SINA SU MA V YNDX AMCC FNSR C
NFLX SPLK SBUX MCD ABX SLW
CNQ AGU TRIP.......
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeletePosted that I sold URI on the previous thread you made.
Today's action was confusing throughout the whole day, and didn't leave me with a good feeling after the Fed either. It is a strange day to see both energy/materials and financials rise while the rest of the market dropped. Small caps had a rough day again and technically still look weak.
I am less comfortable than I've been in a while and my 26.6% cash reflects that. This is not a time for speculation--need to have a high comfort level with every position.
Stocktrader
Hi Stocktrader,
ReplyDeleteTAPE has been troubling for almost 3 weeks as evidenced by market internals.
This is a time for extreme caution.
I am glad that you are comfortable with you 26.6% cash.....
Selling position for profit or reducing exposure is the right approach.
Saleem