Indices closed lower.
S&P 500 @ 1853.44, low 1828.46, high 1873.25
RSI @ 37.07
CMF @ 0.116
Internals were :
Down volume led by 4.14 to 1 in NYSE & 3.65 to 1 in Nasdaq
Declining stocks led by 4.01 to 1 in NYSE & 2.52 to 1 in Nasdaq
Net new 52 wk lows were leading by 404 in NYSE & 525 in Nasdaq
VIX UP 11.21% @ 26.00
Oil @ $29.69
Gold @ $1197.90
AH ER .....GPS UP 3.25%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, bearish TAPE continues, IBD tonight has changed its market outlook to " market in correction ". Everyone is getting extremely bearish which tells me that we may not be far from a "major reversal ". IF you subscribe to this theory, then it is important to be in stocks with good earnings. Wednesday Janet Yellen may tone down her interest hike focus in her testimony, this may trigger much needed turnaround in equities, till then show conviction.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteSold SPXS @ 22.57
Took some of the hedge off after this big drop in recent days.
Stocktrader
Hi Stocktrader,
ReplyDeletePerfect timing in exiting SPXS.
Saleem
ReplyDeleteHi Saleem
I am lucky with FB. I will hold some more time. I also would like you to know that yesterday I had an order for TNA for 37.02 and it reached 37.01(low of the day) and the order was executed. I never realized it because I had gone to pick my kids from school. I am really lucky. Good luck
Joseph
ReplyDeleteSold TNA @ 38.90
Hi Joseph,
DeleteNo you were not lucky, you had planned to buy TNA and sold for profit, good execution.
Good luck with FB.
Saleem
Hi Stocktrader,
ReplyDeleteAdded 40 % CTSH @ $ 52.39
Saleem
Hi Saleem,
ReplyDeleteGood luck with the add. I am having a tough time making anything work right now.
Stocktrader
ReplyDeleteHi Stocktrader,
This is the-most volatile market since 2008 slump.
I am throwing dice and waiting for it to stick once in a while.
Saleem