Indices closed mixed.
S&P 500 @ 2050.44, low 2045.90, high 2066.69
RSI @ 49.43
CMF @ 0.045
Internals were :
Down volume led by 1.56 to 1 in NYSE & 1.10 to 1 in Nasdaq
Declining stocks led by 1.66 to 1 in NYSE & 1.18 to 1 in Nasdaq
Net new 52 wk lows were leading by 95 in NYSE & by 101 in Nasdaq
VIX UP 3.74% @ 18.84
Oil @ $40.67
Gold @ $1068.60
AH ER....VIPS UP 2.63%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was higher until news of security issues came from Germany, market did not closed down on jittery news which is very encouraging. Staying engaged in strong stocks are a much better bet than buying laggards, i tend to have a mix of both but with lot of due diligence. Until Fed decision on interest rate increase, this TAPE will remain in a see saw mode. Diversified approach in many sectors may have a balancing effect on portfolio.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
It's really been a great week so far with my two top stocks performing quite well and many others also outperforming. I'm back on the charge to unchanged for the year! :)
Portfolio (from highest weight to lowest): GM SWKS FDX URI SPLK LNKD AMZN POT DHI RLYP
I am acutely aware of my lack of a financial stock after selling WAFD last Friday for SPLK, but am not in a hurry given I'm not convinced on a December rate hike with all this commodity deflation around. If conditions do end up warranting that rate hike, certainly some of my other stocks will rally on the better economic news.
I am patiently waiting for a setup on AMBA, but need to wait until closer to earnings date (Dec 3rd). I'm not sure any big institutional money will really want to step in prior to that given GPRO's terrible earnings report and continuing poor analyst commentary. The future is bright for AMBA, but is there a hiccup right now?
Earnings from CRM tonight and WDAY/SPLK tomorrow will be interesting, but I'm not sure how market moving. You can already feel the "coast mode" coming into play for year's end.
Stocktrader
Hi Stocktrader,
I am happy that you are unch for the year.
Earnings are tough to gauge as to reaction, we only know after the reaction.
Saleem
Post a Comment