Indices closed down.
S&P 500 @ 2115.48, low 2107.73, high 2117.64
RSI @ 63.93
CMF @ 0.229
Internals were :
Down volume led by 2.01 to 1 in NYSE & 1.38 to 1 in Nasdaq
Declining stocks led by 1.63 to 1 in NYSE & 2.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 216 in NYSE & 64 in Nasdaq
VIX UP 3.98% @ 14.64
Oil @ $50.56
Gold @ $1272.70
Canadian $ @ .7269
Stocks which closed green BIDU KGC SBUX VRX
GOOG AAPL AMZN LULU AUY GG ABX
SLW AEM LNKD YHOO SWN YELP
OLED AAL LRCX MCD CRUS
TRIP......
AH ER.....URBN Down 7.77%
AH Futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was under mild selling pressure after making series of 2016 highs, by close we were @ near high of the day, IF this does not convince anyone of strength of this market, there is no other convincing argument, how we close, always determines technical health of any market. Technicians have failed to call the direction of this TAPE, now we have Soro's of this world trying to talk this market down, never have worked before, will not work this time either. Was caught in an urgent need, thus missed afternoon BLOG.There is a closing BLOG around 7 PM on Friday's.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Bought WLH @ 16.675
Bought HUN @ 15.57
Wanted to add back some of my favorites on the pullback.
I had thought HUN was more vulnerable, but the AXLL/WLK deal probably lends support to the chemicals sector.
Stocktrader
Hi Stocktrader,
Good luck with WLH and HUN.
Saleem
Hi Stocktrader,
Sold KGC $5.24
Saleem
Hi Saleem,
Gold is difficult right now. The dollar appears to be headed higher, whether it a result of save-haven buying or the continuing dovishness from other central banks. That could hurt gold in dollar terms, but the trend of easy money and ever lower interest rates should help gold. So...I'm not sure which stance to take although I am tilted bullish.
Also, bought TMF @ 104.05 for both speculative and hedging purposes. I think there is a scenario where the US 10-yr breaks key levels here and drops below 1.50%.
Stocktrader
Hi Stocktrader,
Gold is reacting to US$ today.....gold stocks are overbought short term.
Good luck with TMF.....yields are crashing worldwide.
Saleem
Post a Comment