Indices closed lower.
S&P 500 @ 1877.08, low 1875.97, high 1906.28
RSI @ 36.24
CMF @ -0.072
Internals were :
Down volume led by 8.53 to 1 in NYSE & 4.50 to 1 in Nasdaq
Declining stocks led by 5.67 to 1 in NYSE & 2.98 to 1 in Nasdaq
Net new 52 wk lows were leading by 92 in NYSE & 107 in Nasdaq
VIX UP 8.10% @ 24.15
Oil @ $30.34
Gold @ $1105.30
AH News / ER ...RMBS UP 6.16%, RLYP UP 17.23%
JNPR Down 4.2%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was under selling pressure again after two days of gains, oil is being blamed for a sharp pullback.Internals were extremely weak but RSI is saying buy this market now. Earnings will be in overdrive starting with AAPL AH, then Fed statement on Wednesday @ 2 PM. Market is in the final stage of sorting out oil impact & fed intentions, once those are out of the way, we may see more stability.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Bought half position in WLH @ 10.89, chased the other half up to 11.20, ugh.
I thought DHI's guidance was fairly positive yesterday and WLH, despite execution concerns, is still geographically positioned well. Today's Case-Shiller numbers showed that strength in Mountain and West also, and I still think about the CEO's open market purchase at much higher levels just last month.
Stocktrader
Hi Stocktrader,
Good luck with your well researched purchase of WLH.
Saleem
Hi Saleem,
Another derisking event for RLYP and barely up--the biotech market is so depressed these days. I'd add more here if it wasn't for my 18.8% allocation already...
Stocktrader
Hi Stocktrader,
RLYP is on my watch list, very surprised with anemic reaction to a positive news.
Saving buying power for post AAPL and pre fed buying.
Saleem
Hi Saleem,
It is unwaveringly 100% of my wife's IRA though because it remains the most undervalued asset in the market that I can see. Eventually the valuation disconnect will correct itself :)
Yes, the Fed is a serious wildcard tomorrow. It seems to me they don't want to admit they are wrong yet...which may cause market turbulence...
Stocktrader
Hi Saleem,
Bought URI @ 56.26
I was waiting to rebuy on a better dip (after selling 58.25 Friday), but all this machinery buyout chatter is making me nervous that I might really miss an entry point. I have some hesitation about the longer term, but the depressed valuation and sentiment have discounted much of the downside risk ahead of the quarterly release tomorrow after the bell (with conference call Thu morning).
Stocktrader
Hi Saleem,
I have one position cash left available. I am eyeing SPLK and SBNY for purchase, and BBRY and OMED for sale.
Stocktrader
Hi Saleem,
Current portfolio: RLYP GM LNKD DKS BAC URI WLH OMED BBRY
Stocktrader
Hi Stocktrader,
Good luck with URI and next buy plus sale.
Saleem
Post a Comment