Indices closed UP.
S&P 500 @ 2027.22, high 2032.02, low 2010.04
RSI @ 65.40
CMF @ 0.321
Internals were :
UP volume led by 2.74 to 1 in NYSE & 2.17 to 1 in Nasdaq
Advancing stocks led by 4.17 to 1 in NYSE & 1.55 to 1 in Nasdaq
Net new 52 wk highs were leading by 97 in NYSE & lows by 21 in Nasdaq
VIX Down 10.99% @ 14.99
Oil @ $38.46
Gold @ $1229.80
Stocks which were UP 2% or more included
ABX CNQ FEYE JKS TWTR
CTRP NTES SPLK SPWR LVS
WYNN LEN YHOO SU LNG YELP
AMCC CIEN SLW GG AEM DATA SWIR
MGA ORCL ZG .......
AH ER...CTRP Down 4.13%, GES Down 10.60%
FDX UP 5.14%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold UP
About market, Fed gave a huge boost to indices by clarifying that they are not ready to raise rate and they are looking @ possibly 2 increases in 2016 vs previous 4. US$ weakened and oil, gold took off. Fed uncertainty is off the table which will prompt funds on the sidelines to jump in equities.Market was extremely stable going into fed statement which surprised me and encouraged me to do more opportunistic buying. Always listen to market TAPE not pundits.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Hi Saleem,
It has been an interesting two days. The Fed finally seems more rational now with its rate hike predictions--the market couldn't understand how they were thinking 4.
Nice job with the new buys and high exposure; your conviction is paying off nicely! I haven't made a move this week, staying at full exposure, which has worked well for me.
This market continues to confound investors and traders who are looking/wishing/needing a pullback. That is the best kind of market and probably means we keep chugging higher :)
Stocktrader
Hi Stocktrader,
Thanks for your take on my strategy.
Sold ABX @ $15.27
Sold CNQ @ $28.40
Wanted to book profit @ open,worked out pretty good so far.
Saleem
Hi Stocktrader,
Bought CMG @ $481.00
Bought BIDU @ $182.86
Saleem
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