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
8 comments:
Hi Stocktrader,
Added 35% JKS @ $19.31.
Saleem
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
Hi Stocktrader,
This tape is tough, extremely volatile.
LNKD is lost in barrage of selling low RSI notwithstanding.
Saleem
Hi Stocktrader,
LNKD is getting bid now.
Saleem
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
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
Hi Stocktrader,
It is ironic that AAPL is in same complex as BBRY.
Saleem
Hi Saleem,
I don't think it's a coincidence.
Stocktrader
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