Indices closed lower on Greece situation.
S&P 500 @ 2084.43, low 2072.49, high 2091.34
RSI @ 42.95
CMF @ -0.115
Internals were :
Down volume led by 3.28 to 1 in NYSE & 1.65 to 1 in Nasdaq
Declining stocks led by 1.84 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk lows were leading by 68 in NYSE & highs by 35 in Nasdaq
VIX UP 11.68% @ 15.39
Oil @ $59.52
Gold @ $1185.80
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, Greece situation came out in the open after talks failed yesterday in 45 minutes. There is still time left to resolve Greece situation, the real deadline is June 30th, June 25th leaders of EU are scheduled to meet. There is support for Greece to stay in EU & with Euro in internal Greek polls.I believe that there will be movement on both sides and a compromised solution CAN be done. SO it was another buying opportunity when Nasdaq went below 50 DMA, it closed UP by 6 points above. Dow & S&P 500 are digging deeper below 50 DMA. I am expecting a strong close on Tuesday.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
I underperformed last week losing 0.72% versus small gains for the averages. Nothing I had was down more than 3%, but ten positions were down 1-3% including NXPI AAL BABA HUN RUBI CSOD YHOO MOMO C SPLK. The only notable gainers were WLH (+4.5%), HDP (+3.7% from purchase), and LC (+3.1% when sold).
I did a lot of pruning really trying to focus on positive performers as the winners seem to be winning more. The $RUT is the best performing index recently, and I think it's a combination of reaching for growth, but also a weird kind of safe haven trade.
I thought the market did well yesterday given the rough start and poor macro backdrop. My current portfolio is FB PRU SPLK KSS WLH NXPI CSOD AAL OMED MOMO HUN HDP.
Hope all is well! :)
Stocktrader
Hi Stocktrader,
Your portfolio rested last week after outperforming for the whole year.
Saleem
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