Indices closed mixed.
S&P 500 @ 2059.74, low 2057.46, high 2067.92
RSI @ 67.58
CMF @ 0.328
Internals were :
UP volume led by 1.01 to 1 in NYSE & 1.08 to 1 in Nasdaq
Advancing stocks led by 1.23 to 1 in NYSE & .97 to 1 in Nasdaq
Net new 52 wk highs were leading by 163 in NYSE & 40 in Nasdaq
VIX UP 2.88% @ 13.95
Oil @ $38.34
Gold @ $1235.60
AH ER....VJET UP 7.05%
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE mixed close is not reflected in internals, which were mostly positive. Friday is about jobs report which has been strong, i expect the numbers to exceed expectations of 190K. Strong US jobs picture is a reflection of improving economy. TAPE rested today for another move higher, slow & steady is a very positive sign for bulls. There is no panic for any economic report, its business as usual.
BLOG does NOT give buy or sell.
Saleem
14 comments:
Hi Saleem,
Bought HUN @ 12.90
Buying some exposure back on this nice dip.
Stocktrader
Hi Saleem,
Bought BAC @ 13.51
Looking at the stronger economic numbers today.
Stocktrader
Hi Saleem,
Bought NXPI @ 81.20
I was trying to get lower this morning but it kept running away from me.
Stocktrader
Hi Saleem,
The only ones of my "core" picks that I haven't rebought yet are SPLK URI RLYP. Each of them is problematic in their own way that keeps me away for now, although would be willing to buy any on pullback from here. I almost bought SPLK in low 48s earlier today.
Portfolio: WLH FB GM MET NXPI BAC HUN
Exposure: 72%
One of the biggest reasons for my rebuying is the drop in sentiment again by traders this week: http://www.aaii.com/sentimentsurvey. I think the fact that no one is getting bulled up about this rally is a fantastic thing.
Stocktrader
Hi Stocktrader,
Good luck with HUN, BAC, NXPI.
Saleem
Hi Saleem,
Bought URI @ 60.49
After two days of negative commentary, I think it is too cheap compared to how the market feels about these kinds of stocks. The management set the bar so low last quarter that they can likely beat, especially with their timely share buybacks.
Stocktrader
Hi Saleem,
Rebought RLYP @ 13.09
Not sure this is the bottom, but sentiment is so poor that I feel something good could happen. I wanted some biotech diversification too.
Stocktrader
Hi Stocktrader,
Good luck with URI.
Saleem
Hi Stocktrader,
Good luck with RLYP.
Saleem
Hi Stocktrader,
Sold V @ $77.65.
Saleem
Hi Saleem,
Nice run on V!
Things worked out well this week. I hope it continues next week.
Stocktrader
Hi Stocktrader,
Our portfolios are coming alive$$$$
Saleem
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