Indices closed UP.
S&P 500 @ 2173.02, high 2175.63, low 2164.89
RSI @ 66.77
CMF @ 0.243
Internals were :
UP volume 1.75 to 1 in NYSE & 3.34 to 1 in Nasdaq
Advancing stocks led by 2.11 to 1 in NYSE & 2.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 204 in NYSE & 119 in Nasdaq
VIX Down 1.67% @ 11.77....lowest close since August 2014.....scary
Oil @ $44.94
Gold @ $1319.30
Stocks which closed UP 1% or more ...CMG JCP SBUX VRX
OLED PANW SPLK SPWR PCLN FB JKS TWTR NXPI LVS
CTSH MSFT NFLX TSLA CSIQ YHOO SINA DNKN
EBAY MA CHK LNG VDSI BABA FSLR MU
AMCC CIEN LRCX DATA SWIR CSOD
MS ZG TRIP....
In my portfolio...Sold CNQ @ $31.96
Portfolio CMG JCP SBUX VRX.....lowest exposure in 3 years...
AH ER...EBAY UP 6.89%, QCOM UP 7.04%
INTC Down 3.33%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market,TAPE maintained its impressive run with Dow & S&P 500 @ fresh new all time highs. Internals were strong with Nasdaq stocks doing very well. After a long long time, i am not so gutsy anymore as VIX is @ 2 year low, anytime i ignored that, i have suffered financially in a hurry, this time, i am booking gains, so i am not going to lose my profit.RSI in Dow is @ 69.05...awfully close to sharp pullback, Nasdaq @ 65.76 is lagging slightly. BUT in 1999-2000 runup, TAPE kept going up defying technicals or fundamentals, i certainly hope, we are not going to repeat that.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
You deserve to book gains after such conviction and surviving many ups and downs. Good luck with fresh ideas!
For now, I am sticking with my exposure and evaluating on a stock-by-stock basis. The short term overbought situation is offset by a breakout from a long term rangebound market. It could propel the market for a while as sideline money reluctantly trickles in through year end.
Stocktrader
Hi Stocktrader,
What do you think of RLYP? Your conviction and faith in the stock has shown it. I know you do a lot of homework to cull out the best stocks. Thanks for the pick, I have only 750 shares, I had sold 750 earlier. Anyway I am happy, Thanks.
joseph
Hi joseph,
My current plan is to keep holding RLYP just because most charts and ideas are extended right now. An analyst this morning predicts at least one more bid coming. I was fortunate to have added to my position last week.
I'll be back in town briefly tonight but then back out until Sunday night. I'm tired and I'm getting the sense the market is too. It has been a ferocious rally off the bottom. For a sustainable breakout process, we need pauses to refresh the buying interest. It is time for ideas to present themselves rather than chasing now.
Stocktrader
Hi Stocktrader,
I am glad that you added some more shares to your position. Thanks for sharing your plan with Rlyp.I also thank you sincerely for sharing your trades and your views on the market. It does help me, This year has been an amazing year because of you and Saleem. I express my feelings with one word, "Thank you". GL
Joseph
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