Indices closed down.
S&P 500 @ 2063.59, low 2052.32, high 2073.85
RSI @ 48.21
CMF @ -0.100
Internals were :
Down volume led by 2.76 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by 2.05 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk lows were leading by 342 in NYSE & 179 in Nasdaq
VIX UP 11.11% @ 17.60
Oil @ $37.51
Gold @ $1075.30
AH ER / News....ONTY Down 28.43%, WYNN UP 9.3%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under tremendous selling pressure again, Nasdaq managed to close slightly lower, all strong stocks turned around and closed green. Dow & S&P 500 closed below 200 DMA. Oil is controlling this TAPE and IF oil is higher then we are off to the races. Nasdaq is ready to make a "golden cross " as early as tomorrow, that will signal a new powerful bull run. Dow & S&P 500 should make " golden cross " soon after. SO, in the midst of turmoil technicals are looking UP.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Stocktrader,
Sold LULU @ $49.
Saleem
Hi Saleem,
Good luck with next pick.
I freed up the cash yesterday to pick up CF or HUN or some of both today. Ugh, gap and run on both...left out.
Stocktrader
Hi Saleem,
Sold URI @ 71.441
I've wanted to sell for a while, so this was my chance. The chart is pretty nasty technically.
Stocktrader
Hi Stocktrader,
Good luck with next pick.
Saleem
Hi Saleem,
Bought PLNT @ 16.025
The country is getting healthier, the consumer has a bit more spending money, and these guys offer low monthly fees but plenty of add-ons. I think it's a good model and I'll give it a chance here. Chart is poised for a breakout if something good happens.
Stocktrader
Hi Saleem,
Bought CF @ 42.73
This is somewhat a play on bottoming ammonia prices, but also the very cheap price of natural gas which is helpful to maintain margins and cash flow. I felt I needed at least a little commodity exposure.
Stocktrader
Hi Stocktrader,
Bought BITA @ $25.17.
Good luck with PLNT & CF.
Very bad reversal.
Saleem
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