Indices closed mixed.
S&P 500 @ 1851.86, low 1850.32, high 1881.60
RSI @ 36.86
CMF @ 0.087
Internals were :
UP volume led by .86 to 1 in NYSE & 1.59 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & 1.00 to 1 in Nasdaq
Net new 52 wk lows were leading by 125 in NYSE & 208 in Nasdaq
VIX Down .94% @ 26.29
Oil @ $27.45
Gold @ $1194.60
Stocks which were UP 1% or more included
BIDU CTSH FB JKS SBUX V
NTES TWTR PCLN LULU AMZN
LVS LEN NFLX YHOO EXPE CMG MA
FEYE AMBA AAL PANW UA ABX GG DATA
ZG MLNX....
AH ER....TWTR Down 3.2%, CSCO UP 7.93%
TSLA UP 9.63%, EXPE UP 11.61%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE closed near low of the day after Fed dashed hope for change in rate scenario, market were UP earlier. Oil remains the deciding factor as to the direction of this market. Lot of noise about every negative aspect which may put negative spin to this TAPE. We have to wait out this phase whenever it ends. Stay with quality stocks in a diversified portfolio.
BLOG does NOT give buy or sell.
Saleem
14 comments:
Hi Saleem,
Will be closing out as much of my TZA hedge as I can this morning (yesterday buy still on restrictions). I think the negative action is reaching a climax. Check out the AAII numbers: http://www.aaii.com/sentimentsurvey
Stocktrader
Hi Stocktrader,
Yes today could be the slump for total capitulation.
Perfect timing for TZA sale.
Saleem
Hi Saleem,
Sold some TZA @ 72.57
Rebought FIT @ 13.86
Stocktrader
Hi Saleem,
Added more FIT @ 13.17
Stocktrader
Excellent TZA trade. GL
Joseph
Hi Stocktrader,
Good luck with FIT.
Saleem
Hi guys,
It is depressing when day after day the only thing in the portfolio that rises are the hedges, but I am very thankful to have had them this week. I am currently marginally higher this week pending the rest of the week's action--I'll take it! :)
Stocktrader
Hi Stocktrader,
It was a good idea that hedges worked out for you.
Nobody can figure out this TAPE, 7 weeks of straight decline, rare occurrence.
Saleem
Bought FB again @99.50. Missed the morning market reaction due to my work. GL
Hi Joseph,
Good luck with FB.
RLYP has found support today,acting better than TAPE.
Saleem
Hi Guys
Since the market is in correction High flying stocks like GOOG, AAPL and FB will be hit harder. We need to be little careful with our exposure in the market. Gl
Joseph
Thanks Saleem, I do see the light (RLYP)at the end of the tunnel. Hope it holds. I have 1500 share in my retirement account. 40% in cash. I never invest fully. It is always good to be little prudent. Thank you
Hi guys,
With the Fed clearly on hold now, I think the pressure on speculative stocks is somewhat lifted. Good luck with all purchases here! :)
Stocktrader
Hi Stocktrader,,
Something is going on with RLYP. It is 16.93. GL
Joseph
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