Today was the day of selling in world markets.
S&P 500 @ 2095.84, low 2093.23, high 2112.89
RSI @ 44.54
CMF @ 0.016
Internals were :
Down volume led by 5.80 to 1 in NYSE & 2.89 to 1 in Nasdaq
Declining stocks led by 3.49 to 1 in NYSE & 2.74 to 1 in Nasdaq
Net new 52 wk lows were leading by 44 in NYSE & highs by 43 in Nasdaq
VIX UP 7.69% @ 14.71
Oil @ $58
Gold @ $1175.20
AH ER ...ZUMZ Down 8.88%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE took a tumble and closed near low of the day, Dow & S&P 500 closed below 50 DMA. Internals of the market were horrible. Everybody is in panic mode due to Jobs report. Jobs report in my opinion will be a non event and we will rally hard. Any panic day is a good day to buy strong stocks which is being sold off. Today's selling, flushed out lot of weak hands which is good for a fast rally.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Sold GOOGL @ 551.79
The stock looks stuck and I needed to free up some cash.
Stocktrader
Hi Saleem,
Bought KSS @ 64.02
With stronger employment, and tame gasoline prices, I wanted to add back some retail exposure. I think KSS on this decline looks attractive right at the 200 DMA here.
Stocktrader
Hi Saleem,
One of my primary intentions with selling GPRO was to get into AMBA instead and play the emerging video industries (action cameras, drones, security monitoring, etc) in that way. Unfortunately, AMBA has not paused at all...
Stocktrader
Hi Stocktrader,
Good luck with KSS and possible entry into AMBA.....
Saleem
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