Indices closed down.
S&P 500 @ 2000.54, low 1991.68, high 2031.45
RSI @ 31.81
CMF @ -0.018
Internals were :
Down volume led by 6.45 to 1 in NYSE & 12.18 to 1 in Nasdaq
Declining stocks led by 4.25 to 1 in NYSE & 5.75 to 1 in Nasdaq
Net new 52 wk highs were leading by 7 in NYSE & lows by 180 in Nasdaq
VIX Down 7.41% @ 23.85
Oil @ $46.33
Gold @ $1324.70
AH futures UP
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was under selling pressure from open and got a mini lift @ close. Internals were extremely negative which showed total capitulation. Selling looked washed out and close was not @ low of the day. Nasdaq felt the brunt of this selling losing 6.5% in 2 days, that used be a correction % stretched over several weeks. Today was a good opportunity to do selective buying. Expecting a green day for Tuesday.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Bought BAC @ 12.52
I think the banks have been beat up enough--playing for a bounce.
Stocktrader
Hi Stocktrader,
Good luck with BAC.
Saleem
Hi Saleem,
Bought CSOD @ 36.54
Fundamentals have been improving after a hiccup last year, and I think there's a push for takeover given their single-market status. The stock was a rocket ship until the Brexit situation, and I like to buy those stocks that were breaking out prior to a macro event. Month-end flows might help also.
My cash is down to 0% now with only a 4.5% TMF position after selling the bulk yesterday. That makes my exposure almost fully long with almost all high beta stocks. It seems a little nuts but I like my growth stories in this uncertain environment.
Stocktrader
Hi Stocktrader,
Good luck with CSOD.....
Saleem
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