Indices closed down.
S&P 500 @ 1903.03, low 1897.29, high 1935.26
RSI @ 43.63
CMF @ 0.021
Internals were :
Down volume led by 9.46 to 1 in NYSE & 6.90 to 1 in Nasdaq
Declining stocks led by 4.11 to 1 in NYSE & 3.88 to 1 in Nasdaq
Net new 52 wk lows were leading by 62 in NYSE & 130 in Nasdaq
VIX UP 10.01% @ 21.98
Oil @ $29.88
Gold @ $1127.20
AH ER...ZG Down 2.10%, CMG Down 6.49%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE came under pressure on below $30 oil, indices closed near low of the day. Oil seems to be the deciding factor where indices go. It is hard to evaluate or know the direction of oil as we are all equity focus. Hopefully this shall pass soon. In the meantime look @ quality of your portfolio and try to make it better.
BLOG does NOT give buy or sell.
Saleem
7 comments:
Hi Saleem,
Bought LNKD @ 195.25
I expect a nice beat and raise quarter, but am nervous about the stock reaction. This pullback de-risks it a little bit, but still anticipate a potential 10% decline.
Stocktrader
Hi Stocktrader,
Sold AMZN @ $533.
Good luck with LNKD.
Saleem
Hi Saleem,
Good luck to you as well! :)
High multiple growth stocks like AMZN NFLX TSLA are all in trouble. FB and GOOGL seem to be reasonably priced, and their recent reports showed accelerating adoption in many areas. I like that we are separating out winners and losers now--that's a positive development no matter what the overall market does.
Stocktrader
Hi Stocktrader,
Bought FB @ $112.02.
Saleem
Hi Stocktrader,
Added 40% lnkd @ $188.53.
Saleem
Hi Saleem,
Good luck with the adds. The carnage today is very heavy on no specific reason except for liquidation of things that were working at least a little.
Stocktrader
Hi Stocktrader,
YES....it was sell on no news.....
We are looking much better now.....
Saleem
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