Indices closed down.
S&P 500 @ 2049.62, low 2042.35, high 2085.00
RSI @ 44.44
CMF @ -0.122
Internals were :
Down volume led by 3.28 to 1 in NYSE & 3.82 to 1 in Nasdaq
Declining stocks led by 4.35 to 1 in NYSE & 3.20 to 1 in Nasdaq
Net new 52 wk lows were leading by 138 in NYSE & by 25 in Nasdaq
VIX UP 13.83% @ 18.11
Oil @ $41.08
Gold @ $1061.20
AH ER ....AMBA Down 8.26%, ULTA UP 6.87%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, stocks sold off sharply on fear of December rate hike, this rate hike has been articulated clearly by Fed chief and many Fed officials in their speech and testimony / presentations, market is having trouble digesting this news. Jobs report should confirm improving employment trend. Dow & S&P 500 closed below 200 DMA and Nasdaq is barely above it, market internals became negative all over. This selling bout may have run its course already as we closed @ low of the day.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Sold RCL @ 93.40
It looks like oil may have bottomed? and I have doubts about the leisure travel stocks given heightened terrorism attacks recently. At the very least, it is especially vulnerable to headline risk.
Stocktrader
Hi stocktrader,
I see RLYP flying. You had told me about the stock and your wife's retirement account. I had a plan to buy it yesterday. But I decided to buy it later. It is a very good one. I will be following the stock. Only daring guys make money.
Good luck with your trades
Joseph
Hi Stocktrader,
Was out whole day.
Good luck with new idea.
Saleem
Hi Joseph,
Thank you for the kind words. I am still holding all shares in RLYP as this price is easily supported by fundamentals regardless of a buyout or not (as rumored today). January is a big month--either we start getting prescription numbers or a buyout is announced. Either way, I expect the news flow to be a positive development.
Stocktrader
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