Indices closed mixed.
S&P 500 @ 1939.38, low 1920.30, high 1947.20
RSI @ 49.20
CMF @ 0.051
Internals were :
Down volume led by 1.24 to 1 in NYSE & .89 to 1 in Nasdaq
Declining stocks led by 1.04 to 1 in NYSE & 1.001 to 1 in Nasdaq
Net new 52 wk highs were leading by 53 in NYSE & lows by 84 in Nasdaq
VIX Down 1.09% @ 19.98
Oil @ $31.62
Gold @ $1128.00
AH ER...GOOG UP 5.19%, IDTI Down 14.74%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE fought back poor worldwide manufacturing data and low low oil prices and came near unchanged level, that is a victory for those hoping for an oil delink. Oil slump today was unsettling to say the least, oil stocks closed @ upper end of their range. Carter Worth is cautioning again for an imminent weakness in indices, sometimes it is important to factor his analysis for short term strategy.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Did a little buying this morning:
Bought WLH @ 10.60
Bought GM @ 30.02
I still like west coast housing and WLH is extremely well positioned and is beaten down despite the CEO open market purchase.
I bought GM due to the fantastic execution, very cheap valuation, and massive buyback program of nearly 20% of the company.
Stocktrader
Hi Saleem,
Bought TREE @ 72.18 as a further play on lower interest rates.
Stocktrader
Hi Stocktrader,
Good luck with GM, WLH, TREE.
Saleem
Hi Stocktrader,
Sold FB @ $ 115.95
Bought LNKD @ $ 205.85
Bought V @ $ 73.78
Saleem
Hi Saleem,
Good luck on the swaps. I may buy LNKD ahead of earnings also, but FB and GOOGL have certainly set a high bar now.
As usual, my opening morning trades were horrible. I guess I need to shut my computer off until 2 PM! :)
Stocktrader
Hi Stocktrader,
Must not evaluate any trade @ low of the day or in few hours.
Let the portfolio breathe for few days then evaluate.
For comparison sake,I am down in both buy and sell.
Rome was not built in a day or few hours.
Saleem
Hi Saleem,
Doubled up on TREE @ 67.89
This morning I only did a smaller size because I'm not extremely familiar with the company yet, but this further dip seems a nice opportunity.
Portfolio: TMF, GM RLYP DKS TREE, FIT WLH BBRY (ordered by size, grouped by similar sizes)
Stocktrader
Hi Stocktrader,
Excellent move with TREE.
Saleem
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