Thursday, April 7, 2016

Indices closed down .98% to 1.47%.....

Indices closed down.

 S&P 500 @ 2041.91, low 2033.80, high 2063.01

 RSI @ 54.91

 CMF @ 0.316

 Internals were :

 Down volume led by 4.35 to 1 in NYSE & 3.82 to 1 in Nasdaq

 Declining stocks led by 3.47 to 1 in NYSE & 2.74 to 1 in Nasdaq

 Net new 52 wk highs were leading by 63 in NYSE & lows by 4 in Nasdaq

 VIX UP 14.69% @ 16.16

 Oil @ $37.26

 Gold @ $1237.50

 AH ER...GPS Down 8.74%, RT Down 18.58%

 AH Futures Down

 AH Asian Markets Mixed

 AH Oil & Gold UP

 About market, TAPE was under selling pressure from Asia to Europe and on to North America, Oil was lower but recovered, equities followed. Tonight IBD has changed its market outlook to "uptrend under pressure". There is nervousness about quality of earnings going into next week, it may not be as expected. Taking profit has to be the mantra going forward. There is only a closing BLOG on Friday's around 7 PM.

 BLOG does NOT give buy or sell.

 Saleem
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10 comments:

  1. stocktrader_1996April 8, 2016 at 6:20 AM

    Hi Saleem,

    This market really does feel like it wants to go higher still. Every time we get a small dip, due to oil or yen or whatever, it is shrugged off by the next day. The S&P chart is still signaling a bit of a topping pattern, but I think too many traders are still expecting a bigger pullback, which means cash is ready to buy.

    Stocktrader

    P.S. I finally logged out my wife's account, it had been going all week as I never remembered until after I had clicked publish! :)

    ReplyDelete
  2. Stocks100April 8, 2016 at 6:52 AM

    Hi Stocktrader,

    Staying in this market is profitable.

    Saleem

    ReplyDelete
  3. stocktrader_1996April 8, 2016 at 7:19 AM

    Hi Saleem,

    Bought HUN @ 13.14

    It looks like the chart and fundamentals are lining up for a breakout. I'm not sure what the put activity was all about, but even yesterday the company traded ok. I think maybe it was protecting a large position rather than a bearish bet.

    Stocktrader

    ReplyDelete
  4. Stocks100April 8, 2016 at 8:30 AM

    Hi Stocktrader,

    Good luck with HUN.

    Saleem

    ReplyDelete
  5. Stocks100April 8, 2016 at 9:26 AM

    Hi Stocktrader,

    Sold ABX @ $15.25

    Saleem

    ReplyDelete
  6. Stocks100April 8, 2016 at 10:16 AM

    Hi Stocktrader,

    Added 100% FEYE @ $ 17.51

    Saleem

    ReplyDelete
  7. Stocks100April 8, 2016 at 10:33 AM

    Hi Stocktrader,

    Bought QRVO @ $48.89

    Saleem

    ReplyDelete
  8. stocktrader_1996April 8, 2016 at 10:55 AM

    Hi Saleem,

    Nice run with ABX!

    Good luck with the FEYE add and new QRVO.

    Stocktrader

    ReplyDelete
  9. stocktrader_1996April 8, 2016 at 11:21 AM

    Hi Saleem,

    What do you think of YHOO here with a confirmed bidding process in progress? It seems like downside is low with upside potential of 10%+.

    Stocktrader

    ReplyDelete
  10. Stocks100April 8, 2016 at 11:39 AM


    Hi Stocktrader,

    You can play that odds.... BUT google was rumoured to be a "take under"

    Saleem

    ReplyDelete