Indices closed down.
S&P 500 @ 2091.48, low 2088.52, high 2103.78
RSI @ 63.20
CMF @ 0.127
Internals were :
Down volume led by 2.18 to 1 in NYSE & 1.08 to 1 in Nasdaq
Declining stocks led by 1.74 to 1 in NYSE & 1.14 to 1 in Nasdaq
Net new 52 wk highs were leading by 80 in NYSE & 32 in Nasdaq
VIX UP 5.05% @ 13.95
Oil @ $43.18
Gold @ $1250.30
In my portfolio Bought ABX @ $16.19.....
AH ER... SBUX Down 3.99%, V Down 4.51%
MSFT Down 5.13%, GOOG Down 5.92%
MSFT missed by 2 cents due to one time tax expense amounting to 4 cents.
SBUX EPS came in line, Chinese comps were the sticking point.
Do not see any issue with either stock going forward, weakness may not last long.
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was under pressure with weak earnings and oil being lower,weak earnings continued this evening also. Markets resolve should be apparent as to how we close on Friday. Tonight IBD is changing its market outlook to "uptrend under pressure". I do not believe majority of misses is a game changer for market direction, GOOG may be the exception and FB by association. Internals of the market were better than indices, thus a positive.Only a closing BLOG @ 7 PM on Friday's.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Stocktrader,
Bought BIDU @ $188.70.
Saleem
Hi Saleem,
Good luck with the ABX and BIDU.
The market is certainly changing...who expected MSFT GOOG SBUX to look like this, while URI gets *three* downgrades today and goes up.
Stocktrader
Hi Stocktrader,
URI is behaving very well, good pick$$$$$$
Saleem
Hi Saleem,
I listened to the LYB call this morning. It looks like the dynamics in the chemicals sector are turning for the better also. I would have bought LYB on this dip if not for the EMN and HUN I already have.
Stocktrader
Hi Stocktrader,
Thanks for sharing LYB cc ....looks like Chemical stocks are working.
Saleem
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