Indices closed down.
S&P 500 @ 2047.62, low 2036.53, high 2080.33
RSI @ 44.65
CMF @ -0.163
Internals were :
Down volume led by 1.11 to 1 in NYSE & 2.84 to 1 in Nasdaq
Declining stocks led by 1.54 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk lows were leading by 146 in NYSE & by 116 in Nasdaq
VIX UP 11.42% @ 19.61
Oil @ $37.16
Gold @ $1076.50
AH ER..SPWR Down 2.78%, FSLR Down 9.43%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE reversed badly today and took most stocks lower. S&P 500 closed below 50 & 200 DMA. Nasdaq managed to make "golden cross" even on a sharply lower day. Staying with better performing stocks or emerging stocks is a good idea. Market goes through these "tantrums" even on good news. Be patient and show conviction with better performing stocks while liquidating weak ones.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Good luck with BITA!
Tough day in the market--nasty reversal. I hope everyone's gotten it out of their system now. RLYP continues to positively impact the portfolio--not sure where I'd be without that one over the last few weeks...
Stocktrader
Hi Stocktrader,
RLYP is not in my watch list so appreciate your update .I am glad its giving your portfolio a much needed lift.
Hopefully we stabilize soon in market.
Good luck to you.
Saleem
Hi Saleem,
For the first time in a while, I think I caught the right side of AMBA. Hopefully more good things to come--estimates should prove conservative as they *always* beat even if they give muted forward guidance. That makes the stock definitely attractive on a valuation basis.
Stocktrader
Hi Stocktrader,
YES...you did catch AMBA @ low point and is flying higher, we all need these events in our trading life.....who knows BBRY can do the same for me after many tries....reports next week on Friday before open.....
Saleem
Hi Saleem,
Good luck on BBRY!
Bought FB @ 106.28
I really didn't have much buying power left, but I really like the chart here. I may try to trim something else to add more.
Stocktrader
Hi Stocktrader,
FB is all set to move towards series of new highs $120++++ is a real possibility. FB has rested and built a nice base for breakout.
RB is showing relative outperformance today....no FANG just F....
Good luck with FB....
Saleem
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