Indices closed UP
S&P 500 @ 1969.41, high 1970.42, low 1927.30
RSI @ 45.06
CMF @ -0.048
Internals were :
UP volume led by 9.91 to 1 in NYSE & 8.17 to 1 in Nasdaq
Advancing stocks led by 3.78 to 1 in NYSE & 3.31 to 1 in Nasdaq
Net new 52 wk lows were leading by 18 in NYSE & highs by 18 in Nasdaq ( not a typo )
VIX Down 10.43% @ 24.90
Oil @ $45.94
Gold @ $1121.00
Stocks which were UP 1% or more FB FIT GPRO TSL
FEYE YY LNKD BIDU TSLA PCLN GOOGL MU
AAPL SWIR NXPI COH LEN JKS CSIQ SINA
DNKN EXPE CMG YUM FFIV MA V FSLR
SPWR HIMX CRUS SNDK AMCC LSCC
CIEN C M SPLK SBUX MCD STLD
ABX SLW CCJ DATA CSOD
MGA MS CNQ BRCM GS
WYNN LVS AGU
MLNX.......
AH ER...PLAY UP 9.42%, TTPH Down 78.32%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE defied many bears who were extremely vocal with their charts and low low target for market, many perma bears have exit prediction business as they are perpetually wrong, they only see downside especially near lows. Shanghai took off in a big way by close last night despite poor trade data, German trade data was robust. All indices are still below 50 & 200 DMA, these levels needs to be conquered to confirm this sharp turn. Internals improved with high volume & we closed @ high of the day, a sign of good things to come.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Stocktrader,
Bought CNQ @ $20.84....
Saleem
Hi Saleem,
You are a highly convicted man to have exposure at 300% during these times--you could make serious money if stocks trend positively into year-end.
Good luck with CNQ--I keep staring at FCX. Forward P/E of 5.8 after analysts revised their estimates given the cost-cutting measures announced recently. Vice Chairman bought 2.2M shares on Sept 4th. Activists involved. Copper up 5% this week. Out of favor for so long. Seems like a good setup to buy on dips...
Stocktrader
Hi Stocktrader,
Conviction and patience are two pre-requisite to see how ones ideas are working out....there is no guarantee ever......
I feel very comfortable near support and after major pullbacks.....
Someone once said "buy low sell high "......interesting to see IF this theory stands or not.....
I have every intention of further increasing my exposure @ these attractive level.....
Saleem
Hi Saleem,
Bought NEFF @ 6.00 based on URI's comments today at a conference about better than expected August sales and large holder accumulation in recent weeks.
Stocktrader
Hi Stocktrader,
Good luck with NEFF.
Saleem
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