Indices closed down.
S&P 500 @ 2079.61, low 2070.53, high 2096.17
RSI @ 45.01
CMF @ 0.034
Internals were :
Down volume led by 4.50 to 1 in NYSE & 3.74 to 1 in Nasdaq
Declining stocks led by 2.96 to 1 in NYSE & 2.68 to 1 in Nasdaq
Net new 52 wk lows were leading by 245 in NYSE & 118 in Nasdaq
VIX UP 10.59% @ 15.25
Oil @ $40.80
Gold @ $1127.90
AH ER ....NTAP UP 12.06%, MOMO Down 6.76%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE took it on the chin with worldwide stock slump. Fed has prepared the market for an instant rate hike, most will be shocked but word is out already today in minutes.S&P 500 and Nasdaq both closed below 50 DMA, S&P 500 went below 200 DMA but crawled back above @ close. What can you say to a market, which is trying to discount something, which we do not know, is it China, or recession in many countries, Oil prices are a major stumbling block for a healthy market. As always, stay the course, these things get sorted out with time.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
It looks like another wild session coming today!
Last week my portfolio dropped 0.89% versus a +0.67% for the S&P. Big losses like KSS post-earnings (-7.9%) and TDOC ahead of earnings (-7.1%) hurt, while a few purchases were winners like DATA (+6.2%) and LBIO (+5.7%). The portfolio is +7.56% for the year as of the weekend, so despite some performance slippage, I'm still nicely ahead of the indices.
Current portfolio: CYBR AMZN MS PANW WLH FDX LNKD HDP AMBA DATA NEM HUN LBIO.
Cash: 0.1%
I'm underexposed in some sectors right now, but sticking with high comfort level is so important given the market environment. I'm starting to feel like an impending doom is near given the S&P chart, but I'm not sure which stocks could still drop 10-20% from here to start that downward spiral? I'm reluctantly sticking to my exposure...
Stocktrader
Stocktrader,
Wild session it is......
Saleem
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