Indices closed mixed.
S&P 500 @ 1951.13, high 1975.01, low 1944.72
RSI @ 40.53
CMF @ -0.023
Internals were :
UP volume led by 2.44 to 1 in NYSE & 1.29 to 1 in Nasdaq
Advancing stocks led by 1.84 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk lows were leading by 19 in NYSE & 4 in Nasdaq
VIX Down 1.84% @ 25.61
Oil @ $46.75
Gold @ $1124.50
Stocks which closed green included RAD
YY YHOO BIDU BABA TWTR NXPI COH
MU LVS LEN JKS CSIQ SINA DNKN CMG SU
EBAY FFIV MA V FSLR SPWR HIMX SNDK AMCC
CIEN FNSR C OTEX M GMCR SPLK CCJ CSOD MGA Z
BRCM WYNN GS AGU MLNX......
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE battled jobs jitter whole day and closed mixed. Jobs are expected to be 225,000 which should be easily attainable, it is being dubbed as the most critical jobs report, i do not see any significance of this report, all jobs report has been in 200K+ range and fed is already committed to raising rate this year, a well known fact. I believe this jobs report will be a non event and market may close higher.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
Sold everything except FCX (can't sell until Tuesday). Time for a reset and rethink.
Stocktrader
Hi Stocktrader,
Good luck with your rethink & reset.
Saleem
Hi Saleem,
Despite what I feel is an overreaction to "economic" conditions, it became evident in recent days to me that investors still have too much "stock", and so I think this deleveraging will continue, especially in the heavily owned names.
Stocktrader
Hi Stocktrader,
TAPE is retesting support and it may create "triple bottom" today...IF successful .....
So far..not only previously two lows are intact....but we have not violated last test close either.....
Looking for needle in a haystack.....
Saleem
Hi Stocktrader,
Added 30% GPRO @ $37.09
Added 100% TSL @ $8.50
Added 200% FIT @ $31.61
Saleem
Hi Saleem,
Good luck with higher exposure. I might take the month of September off! :)
Stocktrader
Hi Stocktrader,
Thanks for wishing me luck in this hyper-crazy market.
Always follow your comfort level.
Saleem
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