Indices closed mixed.
S&P 500 @ 1923.82, high 1927.21, low 1900.70
RSI @ 43.61
CMF @ -0.025
Internals were :
Down volume led by .92 to 1 in NYSE & 1.14 to 1 in Nasdaq
Declining stocks led by 1.04 to 1 in NYSE & 1.45 to 1 in Nasdaq
Net new 52 wk lows were leading by 154 in NYSE & 163 in Nasdaq
VIX Down 7.96% @ 22.55
Oil @ $44.74
Gold @ $1113.70
AH ER..MU UP 6.97%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was extremely erratic, first UP then Down and then closing mostly green. Technically we have confirmation of this recovery from S&P 500 & Nasdaq. Also we made higher highs today, all in all a good day for this TAPE. Its all about jobs data, as we have some kind of momentum now, it may propel us higher.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Stocktrader,
Added 33% CNQ @ $19.33....
Saleem
Hi Saleem,
I sold everything. Although there might be some stocks that perform well from this point, I think it will get very hard to figure out which those are. I need time to assess the impact of a weakening US economy and high yield bond market which breaks apart many theses. I do think the Chinese will enact highly easy monetary policy in the next months so they could be the savior, but the impact on our market is uncertain.
Stocktrader
Hi Saleem,
Good luck with added CNQ.
Stocktrader
Hi Stocktrader,
Good luck with your strategy......
Saleem
Hi Saleem,
Ugh. I am constantly reminded how I'm a horrible market trader even if I have a good track record of stock picking.
It was a great day to cover shorts if you missed chances on the prior two days which had huge intraday drops but then rebounds. My feeling is that traders/investors are still underexposed/short to where they should be, so this move could continue. I just hate the counterintuitive situations where bad data = good stocks. It doesn't allow me to match fundamentals with price very well.
Stocktrader
Hi Stocktrader,
Always rectify error quickly.....
Market is very strong now, take advantage of this opportunity.
Done is done....
Start fresh quickly$$$$$
Saleem
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