Indices closed UP.
S&P 500 @ 1938.68, high 1947.38, low 1914.35
RSI @ 34.10
CMF @ 0.004
Internals were :
UP volume led by .96 to 1 in NYSE & 1.99 to 1 in Nasdaq
Declining stocks led by 1.09 to 1 in NYSE & .996 to 1 in Nasdaq
Net new 52 wk lows were leading by 570 in NYSE & 364 in Nasdaq
VIX Down 7.53% @ 22.47
Oil @ $30.44
Gold @ $1085.20
AH ER....CYBR UP 13.24%
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE finally discounted low oil prices and moved UP @ close. This close is technically very significant as we closed higher than highs of yesterday in all indices. Hopefully we build momentum from here as sellers are washed out and buyers may dominate few sessions. Oil price prediction is getting lower and lower, latest being $15 from RBS. Keep an eye on TAPE for possible weakness again, until then enjoy the ride UP.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Sold BAC @ 15.24 due to increasing credit risk and expectations of sluggish earnings.
Added more to RLYP @ 19.72. This is a very large position now and I won't be adding more.
Stocktrader
Hi Saleem,
Added to LNKD @ 207.15
I'm really focusing on those companies I know will beat earnings and hopefully have come down enough that price action can also be good.
Stocktrader
Hi Saleem,
Did some trimming in cyclical stocks:
Sold URI @ 59.04
Sold WLH @ 12.66
Sold DAL @ 46.19
Sold CF @ 32.34
Liquidity is very poor right now based on the level II action I am seeing--could lead to significant downside.
Stocktrader
Hi Saleem,
Sold FIT @ 20.20
After nice outperformance in the last two days, I don't think it can survive the market onslaught for now.
Stocktrader
Hi Stocktrader,
Good luck with add on in LNKD and RLYP.
Good move in eliminating many stocks.
TAPE is horrible again.....
Saleem
Hi Stocktrader,
Sold NFLX @ $108.24.
Saleem
Hi Saleem,
Bought speculative position in OMED @ 15.378
Digging in some biotech thinking they are immune to global problem and the Fed might be more on hold after these days' events.
Stocktrader
Hi Stocktrader,
Good luck with OMED.
Saleem
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