Indices closed down.
S&P 500 @ 1938.76, low 1932.57, high 1949.52
RSI @ 42.25
CMF @ 0.071
Internals were :
Down volume led by 2.28 to 1 in NYSE & 1.16 to 1 in Nasdaq
Declining stocks led by 1.43 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk lows were leading by 220 in NYSE & 107 in Nasdaq
VIX Down 1.38% @ 22.13
Oil @ $44.48
Gold @ $1131.50
AH ER.. SNCR UP 6.12%, RGEN Down 6.57%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was sluggish again and zig zagged whole day. Close was respectable in many days, CMF improved further in all indices, a sign of better TAPE to come. I am more optimistic today, we may be ready for an oversold bounce. Fed policy and Chinese weakness have been analysed & reacted to the hilt already. It is a short term traders market and should be traded accordingly.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Sold FIT @ 38.78
Wanted to reduce overall exposure and I have the least confidence in this name. Two different companies released smartwatchs yesterday--Alibaba and Pebble. I know these aren't big names, but it just seems really hard to make the out-year case for FIT with all the competition.
Stocktrader
Hi Saleem,
Bought LBIO @ 7.033
Something about it just struck me as right after all the market decline and bad biotech press. Good trials results almost caused a breakout earlier in the month but it failed with the market. Big institutional support from smart biotech investors.
Stocktrader
Hi Saleem,
Bought BABA @ 58.458
I have been waiting for an opportunity to enter for a long time. I think this is as good of a chance as I might get to enter this long term growth story regardless of short term challenges and poor sentiment.
Stocktrader
Hi Stocktrader,
Good luck with your favourite LBIO & BABA.
Yes..today may be the day to get aggressive in buying......
Fed speaks tonight may give comfort to jitter bugs.
Saleem
Hi Saleem,
Referencing our discussion from Monday, I guess NXPI was talking about the new Apple phones at the conference:
09:59 EDT NXPI theflyonthewall.com:
OTR Global believes NXP Semiconductors lost sensor gub in new iPhone 6S
OTR Global handset supply chain checks indicate NXP Semiconductors (NXPI) has lost the sensor hug socket in Apple's (AAPL) new iPhone 6S, about a $1 in content. OTR Global said NXP still has around $1.85 in content within the phone. :theflyonthewall.com
Huge bounce off the lows--chance to get out now?
Stocktrader
Hi Saleem,
I really want to add an agribusiness stock, but just can't quite find the right one. Any thoughts besides AGU?
Stocktrader
Hi Stocktrader,
I am a firm believer in that everything gets priced in very quickly.
Technology always evolves that is a given.
NXPI is a solid tech stock to hold till profit rolls in....
IPI has been trashed....in ag
Saleem
Hi Saleem,
Thanks for the pick! I'm still trying to form my thesis. It is interesting to think about how Brazil falling apart might affect crop prices.
Stocktrader
Hi Stocktrader,
Commodities are taking a huge toll in many economies, importers are benefiting while exporters are left holding the bag.....
We may be hitting "trough " in that sector also.....
Saleem
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