Thursday, October 8, 2015

Indices closed UP .41% to .88%....NICE !!!!

Indices closed UP.

 S&P 500 @ 2013.43, high 2016.50, low 1994.01

 RSI @ 59.40

 CMF @ 0.182

 Internals were :

 UP volume led by 4.97 to 1 in NYSE & 1.86 to 1 in Nasdaq

 Advancing stocks led by 3.44 to 1 in NYSE & 1.88 to 1 in Nasdaq

 Net new 52 wk highs were leading by 44 in NYSE & 26 in Nasdaq

 VIX Down 5.33% @ 17.42

 Oil @ $49.63

 Gold @ $1144.30

 Stocks which were UP 1% or more included BABA NXPI
NFLX YHOO SWIR TWTR RAD CNQ COH LVS 
WYNN LEN JKS CSIQ FSLR SPWR CMG SU
YNDX SNDK AMCC CY AAL GMCR X
SBUX MCD CCJ Z TRIP MLNX.....

 AH ER...AA Down 4.81%, GPS Down 5.87%, RT Down 7.88%

 AH Futures Down

 AH Asian Markets Mixed

 AH Oil UP

 AH Gold Down

 About market, TAPE continued its march towards higher highs, S&P 500 is above 50 DMA alongwith Dow, Nasdaq is next to conquer, its only 31 points away. Tonight IBD is changing its markets outlook to " market in confirmed uptrend " Dow has been UP 5 days in a row. When VIX reaches 15 area, market will be @ fair value. Rotation needs to be in focus as first mover stocks need a rest.

 BLOG does NOT give buy or sell.

 Saleem
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7 comments:

  1. stocktrader_1996October 9, 2015 at 8:02 AM

    Hi Saleem,

    Sold XON @ 36.00 to take profits.

    I really don't trust the speculative biotech stocks yet. It seems like there's a lot better options for institutional money right now given the reflationary environment.

    Stocktrader

    ReplyDelete
  2. stocktrader_1996October 9, 2015 at 9:12 AM

    Hi Saleem,

    Bought GM @ 32.90

    I kind of hate myself for buying after such a run, but valuation and momentum appear to be working here along with a nice buyback and dividend support. GM is the beneficiary of the Volkswagen problem as well as lower taxes for auto sales in China (I think I heard +20% YoY during Golden Week). The stock seems off today in profit taking only and therefore could be a good entry point.

    Stocktrader

    ReplyDelete
  3. Stocks100October 9, 2015 at 9:57 AM

    Hi Stocktrader,

    Sold BABA $68.80

    Good luck with GM...

    Saleem

    ReplyDelete
  4. stocktrader_1996October 9, 2015 at 10:02 AM

    Hi Saleem,

    I'm looking for maybe a strong close and Monday morning for BABA. I hope to trim my overweight around $72, but may keep the standard position size. I'm too enamored with the prospects of a fully-connected China.

    Stocktrader

    ReplyDelete
  5. Stocks100October 9, 2015 at 10:16 AM

    Hi Stocktrader,

    Bought TSLA @ $221.34

    All technical trading..no FA

    Saleem

    ReplyDelete
  6. stocktrader_1996October 9, 2015 at 11:20 AM

    Hi Saleem,

    Good luck with TSLA. The trade is too tricky for me here, but you have had a great track record in both TSLA before and your recent pickups.

    Stocktrader

    ReplyDelete
  7. Stocks100October 9, 2015 at 11:40 AM

    Hi Stocktrader,

    Thanks for your generous comment.

    All i am doing is following RSI for each trade.

    Saleem

    ReplyDelete