Wednesday, January 20, 2016

Indices closed down .12% to 1.56%.....

Indices closed down.

 S&P 500 @ 1859.33, low 1812.29, high 1876.18

 RSI @ 29.22

 CMF @ 0.020

 Internals were :

 Down volume led by 3.18 to 1 in NYSE & 1.36 to 1 in Nasdaq

 Declining stocks led by 2.57 to 1 in NYSE & 1.17 to 1 in Nasdaq

 Net new 52 wk lows were leading by 1407 in NYSE & 903 in Nasdaq

 VIX UP 5.91% @ 27.59

 Oil @ $27.59

 Gold @ $1106.20

 In my portfolio...added 25% FB @ $94.56

 AH ER / News...XLNX UP 8.05%, FEYE UP 6.66%

 AH Futures UP

 AH Asian Markets UP

 AH Oil UP

 AH Gold Down

 About market, TAPE made lower lows not seen since October 2014, around low there was lot of buying by professional traders / mutual funds that trimmed losses by 50% to 5%, nice turnaround. Market seldom gives you the opportunity to pick strong stocks @ low prices and it is important to look @ prices than market conditions. Internals were horrible today even after turnaround, can you imagine how bad it was @ low of the day. I switch my focus to strong stocks from turnaround stocks.TAPE may have given low prices on many stocks today which we may never see.

 BLOG does NOT give buy or sell.

 Saleem
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8 comments:

  1. Stocks100January 21, 2016 at 6:31 AM

    Hi Stocktrader,

    Added 35% JKS @ $19.31.

    Saleem

    ReplyDelete
  2. stocktrader_1996January 21, 2016 at 6:48 AM

    Hi Saleem,

    Good luck with add. I like JKS the best, and hopefully the Chinese talk about more project support going forward.

    LNKD RSI @ 16...can't catch any kind of bid here.

    Stocktrader

    ReplyDelete
  3. Stocks100January 21, 2016 at 7:03 AM

    Hi Stocktrader,

    This tape is tough, extremely volatile.

    LNKD is lost in barrage of selling low RSI notwithstanding.

    Saleem

    ReplyDelete
  4. Stocks100January 21, 2016 at 7:07 AM

    Hi Stocktrader,

    LNKD is getting bid now.

    Saleem

    ReplyDelete
  5. stocktrader_1996January 21, 2016 at 7:11 AM

    Hi Saleem,

    Yes, and I wasn't actually worried about it; I knew investors would wake up eventually :) RSI 16 is too low for any stock right now--the panic liquidation in the general market is over and LNKD is mostly uncorrelated to global economic problems.

    Stocktrader

    ReplyDelete
  6. stocktrader_1996January 21, 2016 at 7:50 AM

    Hi Saleem,

    Thought you would want to see this:

    10:29 EDT AAPL, BBRY

    theflyonthewall.com: Apple setting up office near BlackBerry auto unit, Ottawa Business Journal says

    Apple (AAPL) is establishing a research and development presence in Ottawa, leasing space at a Kanata office complex near the home to BlackBerry's (BBRY) automotive division, QNX Software, according to the Ottawa Business Journal, citing several sources. Reference Link :theflyonthewall.com

    Stocktrader

    ReplyDelete
  7. Stocks100January 21, 2016 at 8:05 AM

    Hi Stocktrader,

    It is ironic that AAPL is in same complex as BBRY.

    Saleem

    ReplyDelete
  8. stocktrader_1996January 21, 2016 at 8:06 AM

    Hi Saleem,

    I don't think it's a coincidence.

    Stocktrader

    ReplyDelete