Indices closed down.
S&P 500 @ 2170.95, low 2161.35, high 2173.79
RSI @ 50.06
CMF @ 0.125
Internals were :
Down volume led by 1.66 to 1 in NYSE & 1.39 to 1 in Nasdaq
Declining stocks led by 1.69 to 1 in NYSE & 1.73 to 1 in Nasdaq
Net new 52 wk highs were leading by 100 in NYSE & 82 in Nasdaq
VIX UP 2.29% @ 13.42
Oil @ $44.70
Gold @ $1311.40
AH ER...CRM Down 6.76%, CTRP Down 2.31%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE continued its discounting process for higher interest rates by closing lower. We may have completed this process already today. Market will look ahead of jobs report. We may be looking @ buy the news now. Strong stocks should outperform in snapback. Stay diversified and show conviction and patience.
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 31, 2016
Indices down .38% to .49%.....
Indices are down on lower oil & stronger US$, ADP data was stronger than expected.
S&P 500 @ 2167.57, low 2161.35, high 2173.79
Internals are negative by 2 to 1
Oil Down $1.41
Gold Down $5.30
Canadian $ Down 24 tick @ .6879
VIX UP 5.41% @ 13.83
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are down
@ 2.12 following are green :
AKS NTES FB TWTR AAPL NFLX YHOO SINA
EBAY WB BABA MCD CRUS CSOD MGA
AGU YELP....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2167.57, low 2161.35, high 2173.79
Internals are negative by 2 to 1
Oil Down $1.41
Gold Down $5.30
Canadian $ Down 24 tick @ .6879
VIX UP 5.41% @ 13.83
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are down
@ 2.12 following are green :
AKS NTES FB TWTR AAPL NFLX YHOO SINA
EBAY WB BABA MCD CRUS CSOD MGA
AGU YELP....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 30, 2016
Indices closed down .18% to .26%.......
Indices closed down.
S&P 500 @ 2176.12, low 2170.41, high 2182.27
RSI @ 53.11
CMF @ 0.152
Internals were :
UP volume led by .84 to 1 in NYSE & 1.06 to 1 in Nasdaq
Advancing stocks led by .96 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 123 in Nasdaq
VIX UP 1.39% @ 13.12
Oil @ $46.35
Gold @ $1316.50
AH ER...PANW Down 5.21%, VEEV UP 5.21%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE struggled with US$ being strong & oil being lower. Market fought its way to reasonable close, even internals were much better. Every stat is being viewed as confirmation of hike in interest rate. Weakness to be viewed as buying opportunity, hike in interest rate is coming & market will find its footing once its discounted.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2176.12, low 2170.41, high 2182.27
RSI @ 53.11
CMF @ 0.152
Internals were :
UP volume led by .84 to 1 in NYSE & 1.06 to 1 in Nasdaq
Advancing stocks led by .96 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 169 in NYSE & 123 in Nasdaq
VIX UP 1.39% @ 13.12
Oil @ $46.35
Gold @ $1316.50
AH ER...PANW Down 5.21%, VEEV UP 5.21%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE struggled with US$ being strong & oil being lower. Market fought its way to reasonable close, even internals were much better. Every stat is being viewed as confirmation of hike in interest rate. Weakness to be viewed as buying opportunity, hike in interest rate is coming & market will find its footing once its discounted.
BLOG does NOT give buy or sell.
Saleem
Indices down .38% to .44%.....
Indices are lower & @ low of the day on strong US$ & lower oil.
S&P 500 @ 2171.86, low 2171.66, high 2182.27
Internals are mostly negative
Oil Down 60 cents
Gold Down $10.80
Canadian $ Down 75 tick @ .6919
VIX UP 3.94% @ 13.45
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are down
@ 2.19 following are green :
BIDU PANW SU OLED V LEN NFLX YHOO SINA
EBAY TK BABA CSIQ SPWR FSLR AMCC
AAL MA AAL MS CTRP AGU TRIP
YELP......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2171.86, low 2171.66, high 2182.27
Internals are mostly negative
Oil Down 60 cents
Gold Down $10.80
Canadian $ Down 75 tick @ .6919
VIX UP 3.94% @ 13.45
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are down
@ 2.19 following are green :
BIDU PANW SU OLED V LEN NFLX YHOO SINA
EBAY TK BABA CSIQ SPWR FSLR AMCC
AAL MA AAL MS CTRP AGU TRIP
YELP......
BLOG does NOT give buy or sell.
Saleem
Monday, August 29, 2016
Indices closed UP .26% to .58%....NICE !!!!
Indices closed UP.
S&P 500 @ 2180.38, high 2183.48, low 2170.19
RSI @ 55.70
CMF @ 0.140
Internals were :
UP volume led by 4.83 to 1 in NYSE & 2.02 to 1 in Nasdaq
Advancing stocks led by 2.60 to 1 in NYSE & 1.68 to 1 in Nasdaq
Net new 52 wk highs were leading by 180 in NYSE & 121 in Nasdaq
VIX Down 5.20% @ 12.94
Oil @ $46.98
Gold @ $1327.10
Stocks which were UP 1% or more included AKS CMG GG
KORS SPLK FB ABX KGC AEM LVS LEN SINA YUM
DNKN TK YELP SPWR MU TCK.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was UP today despite better economic data pointing to higher interest rates & lower oil. Strong stocks continue to outperform. Internals were strong. Another UP day will confirm today's snapback. This is a TAPE for conviction & patience, when it looks bleak, immediately it turns UP.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2180.38, high 2183.48, low 2170.19
RSI @ 55.70
CMF @ 0.140
Internals were :
UP volume led by 4.83 to 1 in NYSE & 2.02 to 1 in Nasdaq
Advancing stocks led by 2.60 to 1 in NYSE & 1.68 to 1 in Nasdaq
Net new 52 wk highs were leading by 180 in NYSE & 121 in Nasdaq
VIX Down 5.20% @ 12.94
Oil @ $46.98
Gold @ $1327.10
Stocks which were UP 1% or more included AKS CMG GG
KORS SPLK FB ABX KGC AEM LVS LEN SINA YUM
DNKN TK YELP SPWR MU TCK.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was UP today despite better economic data pointing to higher interest rates & lower oil. Strong stocks continue to outperform. Internals were strong. Another UP day will confirm today's snapback. This is a TAPE for conviction & patience, when it looks bleak, immediately it turns UP.
BLOG does NOT give buy or sell.
Saleem
Indices UP .45% to .64%.....NICE !!!!
Indices are higher & @ high of the day on fed non-speak. TAPE is ignoring Oil weakness, as we were oversold on rate jitter.
S&P 500 @ 2182.36, high 2183.48, low 2170.19
Internals are positive by 3 to 1 in NYSE & 2 to 1 in Nasdaq
Oil Down 63 cents
Gold UP $1.70
Canadian $ Down 9 tick @ .6999
VIX Down 3.66% @ 13.15
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are UP
@ 2.49 following are red :
VRX NTES TSLA SU SBUX EXPE BABA CRUS
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2182.36, high 2183.48, low 2170.19
Internals are positive by 3 to 1 in NYSE & 2 to 1 in Nasdaq
Oil Down 63 cents
Gold UP $1.70
Canadian $ Down 9 tick @ .6999
VIX Down 3.66% @ 13.15
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are UP
@ 2.49 following are red :
VRX NTES TSLA SU SBUX EXPE BABA CRUS
BLOG does NOT give buy or sell.
Saleem
Sunday, August 28, 2016
Fed speak over, can we rally now ?
Market was bombarded with every Fed governor giving their verdict on the direction of interest rates, it was a unanimous higher call, even Janet Yellen saying, i am getting ready to hike.
In the aftermath of all of the above, market took it all in stride.
Here is where we are sitting from all time high :
Dow 1.46% away from all time high or 274 points
S&P 500 1.1% away from all time high or 25 points
Nasdaq 1.07% away from all time high or 57 points
RSI are as follows :
Nasdaq @ 58.69
S&P 500 @ 49.62
Dow @ 46.01
In any other times we would not have fared this good, but this is a strong bull market, where rotation is the name of the game.
Last week was a clear indication of resiliency of this market.
I am of the opinion that one hike of .25% will NOT derail this market, be it in September or December.
Market has discounted 1 rate hike and is ready to look beyond Fed governors.
I am also of the opinion, that we may hit new all time highs in Nasdaq and S&P 500, Dow may join following week.
SO, the question is, what is not to like about this TAPE.
A diversified & full exposure may bring $$$ and smile to many participants.
Strong stocks are outperforming either by going down the least on down days or going up the most on good days.
Trend is your friend !
BLOG does NOT give buy or sell.
Saleem
In the aftermath of all of the above, market took it all in stride.
Here is where we are sitting from all time high :
Dow 1.46% away from all time high or 274 points
S&P 500 1.1% away from all time high or 25 points
Nasdaq 1.07% away from all time high or 57 points
RSI are as follows :
Nasdaq @ 58.69
S&P 500 @ 49.62
Dow @ 46.01
In any other times we would not have fared this good, but this is a strong bull market, where rotation is the name of the game.
Last week was a clear indication of resiliency of this market.
I am of the opinion that one hike of .25% will NOT derail this market, be it in September or December.
Market has discounted 1 rate hike and is ready to look beyond Fed governors.
I am also of the opinion, that we may hit new all time highs in Nasdaq and S&P 500, Dow may join following week.
SO, the question is, what is not to like about this TAPE.
A diversified & full exposure may bring $$$ and smile to many participants.
Strong stocks are outperforming either by going down the least on down days or going up the most on good days.
Trend is your friend !
BLOG does NOT give buy or sell.
Saleem
Friday, August 26, 2016
Indices closed mixed.....
Indices closed mixed on a volatile day, Fed governors were in overdrive about their hawkish statements, while Janet Yellen was more balanced. So it was green @ open and higher after Fed chief presentation, but lower on Mr Fischer was blunt about next week's jobs report, that took market in sell mode. By close Nasdaq found its footing and closed green and other indices closed above lows of the day.
S&P 500 @ 2169.04, low 2160.39, high 2187.94
RSI @ 49.62
CMF @ 0.103
Internals were :
Down volume led by 1.70 to 1 in NYSE & .74 to 1 in Nasdaq
Declining stocks led by 1.49 to 1 in NYSE & 1.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 194 in NYSE & 116 in Nasdaq
VIX UP .15% @ 13.65
Oil @ $47.64
Gold @ $1325.90
Canadian $ @ .7053
Stocks which were UP 1% or more included CMG
NTES AMZN CTRP NXPI CSIQ SINA CHK
SWN WB LNG BABA YELP FSLR MU.....
Here is my weighting :
GOOG 36.92%
CMG 25.83%
VRX 12.68%
GG 10.93%
JCP 6.78%
CNQ 3.72%
AKS 3.14%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2169.04, low 2160.39, high 2187.94
RSI @ 49.62
CMF @ 0.103
Internals were :
Down volume led by 1.70 to 1 in NYSE & .74 to 1 in Nasdaq
Declining stocks led by 1.49 to 1 in NYSE & 1.12 to 1 in Nasdaq
Net new 52 wk highs were leading by 194 in NYSE & 116 in Nasdaq
VIX UP .15% @ 13.65
Oil @ $47.64
Gold @ $1325.90
Canadian $ @ .7053
Stocks which were UP 1% or more included CMG
NTES AMZN CTRP NXPI CSIQ SINA CHK
SWN WB LNG BABA YELP FSLR MU.....
Here is my weighting :
GOOG 36.92%
CMG 25.83%
VRX 12.68%
GG 10.93%
JCP 6.78%
CNQ 3.72%
AKS 3.14%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 25, 2016
Indices closed down .11% to .18%.....
Indices closed down.
S&P 500 @ 2172.47, low 2169.74, high 2179.00
RSI @ 51.61
CMF @ 0.150
Internals were :
UP volume led by 1.36 to 1 in NYSE & 1.07 to 1 in Nasdaq
Advancing stocks led by 1.26 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 109 in NYSE & 58 in Nasdaq
VIX UP 1.34% @ 13.63
Oil @ $47.33
Gold @ $1324.60
Stocks which were UP 1% or more included AKS CMG JCP VRX
CTRP SPLK KGC QRVO NFLX DNKN CHK SWN TK WB
YELP MU TCK SLW.....
AH ER...SPLK Down 6.61%, GME Down 7.80%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE showed resiliency today despite looming statement from Fed chief, Janet Yellen will NOT say anything different from what she has already articulated, thus an easy calm in the market today. Like many events / speeches this will pass also and market can go about their business. S&P has barely moved from all time high, its off by less than 1%. Internals were all positive today. Do not be surprised, IF we rally hard after speech.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2172.47, low 2169.74, high 2179.00
RSI @ 51.61
CMF @ 0.150
Internals were :
UP volume led by 1.36 to 1 in NYSE & 1.07 to 1 in Nasdaq
Advancing stocks led by 1.26 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 109 in NYSE & 58 in Nasdaq
VIX UP 1.34% @ 13.63
Oil @ $47.33
Gold @ $1324.60
Stocks which were UP 1% or more included AKS CMG JCP VRX
CTRP SPLK KGC QRVO NFLX DNKN CHK SWN TK WB
YELP MU TCK SLW.....
AH ER...SPLK Down 6.61%, GME Down 7.80%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE showed resiliency today despite looming statement from Fed chief, Janet Yellen will NOT say anything different from what she has already articulated, thus an easy calm in the market today. Like many events / speeches this will pass also and market can go about their business. S&P has barely moved from all time high, its off by less than 1%. Internals were all positive today. Do not be surprised, IF we rally hard after speech.
BLOG does NOT give buy or sell.
Saleem
Indices down .06% to .18%.....
Indices are lower despite better than expected economic data. Fed regional presidents continues to put fear in the market by saying interest rates must go up gradually on a daily basis. Market is prepared for 1 interest rate hike this year and may rally on "buy the news"
S&P 500 @ 2173.33, low 2170.20, high 2179.00
Internals are positive
Oil UP 17 cents
Gold Down $4.00
Canadian $ Down 2 tick @ .7074
VIX UP 2.83% @ 13.83
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are UP
@ 2.09 following are red :
GG NTES UA TSLA PANW AAPL JKS DATA
WYNN FCX AGU .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2173.33, low 2170.20, high 2179.00
Internals are positive
Oil UP 17 cents
Gold Down $4.00
Canadian $ Down 2 tick @ .7074
VIX UP 2.83% @ 13.83
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are UP
@ 2.09 following are red :
GG NTES UA TSLA PANW AAPL JKS DATA
WYNN FCX AGU .....
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 24, 2016
Indices closed down .35% to .81%.....
Indices closed down.
S&P 500 @ 2175.44, low 2171.25, high 2186.66
RSI @ 53.33
CMF @ 0.201
Internals were :
Down volume led by 3.48 to 1 in NYSE & 2.58 to 1 in Nasdaq
Declining stocks led by 2.39 to 1 in NYSE & 1.96 to 1 in Nasdaq
Net new 52 wk highs were leading by 102 in NYSE & 89 in Nasdaq
VIX UP 8.64% @ 13.45
Oil @ $46.77
Gold @ $1329.70
AH ER...HPQ Down 6.25%, WDAY UP 12.35%
GES UP 15.5%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went down on Hillary Clinton's negative statement about Mylan pricing which took all biotech lower.Indices closed near low of the day, internals were weak. Thursday is another day of anxiety over Jackson hole speech by Janet Yellen, i do not expect any policy statement, only an overview of where US economic picture stands. Weakness is a buying opportunity for those who are under invested.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2175.44, low 2171.25, high 2186.66
RSI @ 53.33
CMF @ 0.201
Internals were :
Down volume led by 3.48 to 1 in NYSE & 2.58 to 1 in Nasdaq
Declining stocks led by 2.39 to 1 in NYSE & 1.96 to 1 in Nasdaq
Net new 52 wk highs were leading by 102 in NYSE & 89 in Nasdaq
VIX UP 8.64% @ 13.45
Oil @ $46.77
Gold @ $1329.70
AH ER...HPQ Down 6.25%, WDAY UP 12.35%
GES UP 15.5%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE went down on Hillary Clinton's negative statement about Mylan pricing which took all biotech lower.Indices closed near low of the day, internals were weak. Thursday is another day of anxiety over Jackson hole speech by Janet Yellen, i do not expect any policy statement, only an overview of where US economic picture stands. Weakness is a buying opportunity for those who are under invested.
BLOG does NOT give buy or sell.
Saleem
Indices down .20% to .47%.....
Indices are @ low of the day on lower oil and US$ strength. Jackson Hole meeting starts tomorrow and there is lot of anxiety about Janet Yellen speech.
S&P 500 @ 2179.07, low 2179.07, high 2186.66
Internals are negative
Oil Down $1.41
Gold Down $17.80
Canadian $ Down 1 tick @ .7071
VIX UP 8.72% @ 13.46
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are down
@ 2.28 following are green :
CMG LULU SBUX QRVO SINA EBAY SWN
SSYS AAL MS......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2179.07, low 2179.07, high 2186.66
Internals are negative
Oil Down $1.41
Gold Down $17.80
Canadian $ Down 1 tick @ .7071
VIX UP 8.72% @ 13.46
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are down
@ 2.28 following are green :
CMG LULU SBUX QRVO SINA EBAY SWN
SSYS AAL MS......
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 23, 2016
Indices closed UP .10% to .30%....NICE !!!!
Indices closed UP
S&P 500 @ 2186.90, high 2193.42, low 2186.80
RSI @ 60.55
CMF @ 0.214
Internals were :
UP volume led by 2.08 to 1 in NYSE & 2.37 to 1 in Nasdaq
Advancing stocks led by 2.13 to 1 in NYSE & 1.87 to 1 in Nasdaq
Net new 52 wk highs were leading by 234 in NYSE & 189 in Nasdaq
VIX UP .90% @ 12.38
Oil @ $48.10
Gold @ $1346.10
Stocks which were UP 1% or more included UA BMY KORS COH
PANW SPLK JKS LEN CHK SWN TK RIG FEYE WB AAL M
TCK DATA MGA FCX TRIP MLNX.....
AH ER....INTU Down 4.6%, NMBL UP 6.24%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE got a boost from good earnings report @ open and good economic data, Indices shot UP triple digits, still managed to close in green.Internals were strong. This action in market is very positive, considering fedspeak on Friday. We are working towards new all time highs again, we missed it by hair in S&P 500. Momentum is on the bullish camp.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2186.90, high 2193.42, low 2186.80
RSI @ 60.55
CMF @ 0.214
Internals were :
UP volume led by 2.08 to 1 in NYSE & 2.37 to 1 in Nasdaq
Advancing stocks led by 2.13 to 1 in NYSE & 1.87 to 1 in Nasdaq
Net new 52 wk highs were leading by 234 in NYSE & 189 in Nasdaq
VIX UP .90% @ 12.38
Oil @ $48.10
Gold @ $1346.10
Stocks which were UP 1% or more included UA BMY KORS COH
PANW SPLK JKS LEN CHK SWN TK RIG FEYE WB AAL M
TCK DATA MGA FCX TRIP MLNX.....
AH ER....INTU Down 4.6%, NMBL UP 6.24%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE got a boost from good earnings report @ open and good economic data, Indices shot UP triple digits, still managed to close in green.Internals were strong. This action in market is very positive, considering fedspeak on Friday. We are working towards new all time highs again, we missed it by hair in S&P 500. Momentum is on the bullish camp.
BLOG does NOT give buy or sell.
Saleem
Indices UP .18% to .39%.....NICE !!!!
Indices are higher on higher oil.
S&P 500 @ 2188.85, high 2193.42, low 2187.68
Internals are positive by better than 2 to 1
Oil UP 68 cents
Gold UP 70 cents
Canadian $ UP 35 tick @ .7091
VIX Down .81% @ 12.17
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are UP
@ 2.22 following are red :
GG VRX ABX OLED LVS YELP FSLR SPWR
MCD SLW AEM CRUS PCLN GS....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2188.85, high 2193.42, low 2187.68
Internals are positive by better than 2 to 1
Oil UP 68 cents
Gold UP 70 cents
Canadian $ UP 35 tick @ .7091
VIX Down .81% @ 12.17
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are UP
@ 2.22 following are red :
GG VRX ABX OLED LVS YELP FSLR SPWR
MCD SLW AEM CRUS PCLN GS....
BLOG does NOT give buy or sell.
Saleem
Monday, August 22, 2016
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 2182.64, low 2175.96, high 2185.15
RSI @ 58.62
CMF @ 0.266
Internals were :
UP volume led by .58 to 1 in NYSE & 1.18 to 1 in Nasdaq
Advancing stocks led by 1.01 to 1 in NYSE & 1.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 95 in NYSE & 92 in Nasdaq
VIX UP 8.20% @ 12.27
Oil @ $47.05
Gold @ $1343.40
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under pressure due to upcoming speech by Janet Yellen on Friday, Fed does NOT announce policy matters @ Jackson Hole type of get together, any weakness due to this is a buying opportunity. Nasdaq the strongest indices was in green most of the day and closed green. Interesting to see rotation in this TAPE, thus a diversified portfolio of opportunistic stocks works.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2182.64, low 2175.96, high 2185.15
RSI @ 58.62
CMF @ 0.266
Internals were :
UP volume led by .58 to 1 in NYSE & 1.18 to 1 in Nasdaq
Advancing stocks led by 1.01 to 1 in NYSE & 1.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 95 in NYSE & 92 in Nasdaq
VIX UP 8.20% @ 12.27
Oil @ $47.05
Gold @ $1343.40
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under pressure due to upcoming speech by Janet Yellen on Friday, Fed does NOT announce policy matters @ Jackson Hole type of get together, any weakness due to this is a buying opportunity. Nasdaq the strongest indices was in green most of the day and closed green. Interesting to see rotation in this TAPE, thus a diversified portfolio of opportunistic stocks works.
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
Indices are mixed on lower oil and jitter on Fed chief statement on Friday, indices are fighting back and are @ high of the day.
S&P 500 @ 2183.05, low 2175.96, high 2185.15
Internals are mixed with Nasdaq being positive.
Oil Down $1.42
Gold Down $3.90
Canadian $ Down 81 tick @ .7049
VIX UP 9.52% @ 12.42
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are lower
@ 2.19 following are green :
AKS CMG VRX NTES AMZN PANW FB LVS
V SBUX JKS DNKN YUM MA SSYS WB
CIEN MCD TCK AGU MLNX......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2183.05, low 2175.96, high 2185.15
Internals are mixed with Nasdaq being positive.
Oil Down $1.42
Gold Down $3.90
Canadian $ Down 81 tick @ .7049
VIX UP 9.52% @ 12.42
Portfolio AKS GOOG CNQ CMG GG JCP VRX
Most stocks are lower
@ 2.19 following are green :
AKS CMG VRX NTES AMZN PANW FB LVS
V SBUX JKS DNKN YUM MA SSYS WB
CIEN MCD TCK AGU MLNX......
BLOG does NOT give buy or sell.
Saleem
Sunday, August 21, 2016
Price of oil dictating equities?
Oil price has been the catalyst for equity in terms of direction, IF oil is Down equities go down, IF oil is UP equities go UP. Oil prices have been dramatically UP in last 2 weeks, oil UP 9% last week alone.
Oil @ $48.52 and 52 wk high is $54.91, there is a good chance that oil may take out 52 wk highs in not too distant future.
Here is how equities are sitting vs their all time highs :
Dow closed @ 18552.57, all time high 18668.44
S&P 500 closed @ 2183.87, all time high 2193.81
Nasdaq closed @ 5238.38, all time high 5271.36
Here is a look @ RSI :
Dow 57.36
S&P 500 @ 59.40
Nasdaq @ 65.63
IF we look @ 1st table of all time highs, we are barely 2 day move to new all time high in all indices.
RSI in Dow & S&P 500 are @ attractive buy point, Nasdaq is the strongest and may carry into 70+ RSI, this could make all indices into a new all time highs.
This Friday, Janet Yellen speaks @ Jackson Hole and as usual, everyone will wait for her speech, this may entail uncertainty for Thursday trading, another buying opportunity.
Interest rate remains on hold until end of the year, despite hawkish commentary from many Fed officials, but Janet Yellen always puts those talk of higher rate into a "wait & see mode"
It is very important to follow strength in Nasdaq, Oil & Gold.....a rare combination of strength in a very uncertain environment.
Market always defies common wisdom and logic.
It is important to see the trend and follow it, overthinking has not helped anyone, one usually misses bulk of the UP move by following their own interpretations.
This is a strong market and needs to be treated like that.
Stay diversified in strong stocks / sectors.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Oil @ $48.52 and 52 wk high is $54.91, there is a good chance that oil may take out 52 wk highs in not too distant future.
Here is how equities are sitting vs their all time highs :
Dow closed @ 18552.57, all time high 18668.44
S&P 500 closed @ 2183.87, all time high 2193.81
Nasdaq closed @ 5238.38, all time high 5271.36
Here is a look @ RSI :
Dow 57.36
S&P 500 @ 59.40
Nasdaq @ 65.63
IF we look @ 1st table of all time highs, we are barely 2 day move to new all time high in all indices.
RSI in Dow & S&P 500 are @ attractive buy point, Nasdaq is the strongest and may carry into 70+ RSI, this could make all indices into a new all time highs.
This Friday, Janet Yellen speaks @ Jackson Hole and as usual, everyone will wait for her speech, this may entail uncertainty for Thursday trading, another buying opportunity.
Interest rate remains on hold until end of the year, despite hawkish commentary from many Fed officials, but Janet Yellen always puts those talk of higher rate into a "wait & see mode"
It is very important to follow strength in Nasdaq, Oil & Gold.....a rare combination of strength in a very uncertain environment.
Market always defies common wisdom and logic.
It is important to see the trend and follow it, overthinking has not helped anyone, one usually misses bulk of the UP move by following their own interpretations.
This is a strong market and needs to be treated like that.
Stay diversified in strong stocks / sectors.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, August 19, 2016
Indices closed down .03% to .24%.....
Indices closed down on jitters about interest rate hike timing. Indices closed near high of the day, oil closed UP again.
S&P 500 @ 2183.87, low 2175.13, high 2185.00
RSI @ 59.40
CMF @ 0.258
Internals were :
Down volume led by 1.38 to 1 in NYSE & .68 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 115 in NYSE & 101 in Nasdaq
VIX Down .79% @ 11.34
Oil @ $48.52
Gold @ $1346.20
Canadian $ @ .7122
Stocks which were UP 1% or more included UA NTES BMY KORS
COH BIDU SPLK OLED FEYE YELP MU QRVO LRCX ZG
CRUS DATA.....
Here is my weighting :
GOOG 37.37%
CMG 24.07%
GG 12.62%
VRX 11.87%
JCP 7.06%
CNQ 3.80%
AKS 3.21%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2183.87, low 2175.13, high 2185.00
RSI @ 59.40
CMF @ 0.258
Internals were :
Down volume led by 1.38 to 1 in NYSE & .68 to 1 in Nasdaq
Declining stocks led by 1.45 to 1 in NYSE & 1.11 to 1 in Nasdaq
Net new 52 wk highs were leading by 115 in NYSE & 101 in Nasdaq
VIX Down .79% @ 11.34
Oil @ $48.52
Gold @ $1346.20
Canadian $ @ .7122
Stocks which were UP 1% or more included UA NTES BMY KORS
COH BIDU SPLK OLED FEYE YELP MU QRVO LRCX ZG
CRUS DATA.....
Here is my weighting :
GOOG 37.37%
CMG 24.07%
GG 12.62%
VRX 11.87%
JCP 7.06%
CNQ 3.80%
AKS 3.21%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 18, 2016
Indices closed UP .13% to .22%....NICE !!!!
Indices closed UP
S&P 500 @ 2187.02, high 2187.03, low 2180.46
RSI @ 61.34
CMF @ 0.268
Internals were :
UP volume led by 2.14 to 1 in NYSE & 1.46 to 1 in Nasdaq
Advancing stocks led by 2.39 to 1 in NYSE & 2.21 to 1 in Nasdaq
Net new 52 wk highs were leading by 158 in NYSE & 84 in Nasdaq
VIX Down 6.23% @ 11.43....not good for equity bulls?
Oil @ $48.89
Gold @ $1357.20
Stocks which were UP 1% or more included GG CNQ
KORS BIDU SPLK LULU SU OLED JKS QRVO
CSIQ SINA DNKN PCLN CHK SWN TK RIG
SSYS FEYE WB LNG YELP FSLR MU
CIEN TCK FCX DATA.....
AH ER...AMAT UP 5.56%, GPS Down 1.85%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE closed @ high of the day after some hesitation earlier, internals were strong. Its monthly option expiry, which brings volatility to some stocks near certain strike price, it gives buying opportunity as a strategy @ desired price. I may look @ couple of stocks IF they come to my buy point. On Friday, there is a closing BLOG around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2187.02, high 2187.03, low 2180.46
RSI @ 61.34
CMF @ 0.268
Internals were :
UP volume led by 2.14 to 1 in NYSE & 1.46 to 1 in Nasdaq
Advancing stocks led by 2.39 to 1 in NYSE & 2.21 to 1 in Nasdaq
Net new 52 wk highs were leading by 158 in NYSE & 84 in Nasdaq
VIX Down 6.23% @ 11.43....not good for equity bulls?
Oil @ $48.89
Gold @ $1357.20
Stocks which were UP 1% or more included GG CNQ
KORS BIDU SPLK LULU SU OLED JKS QRVO
CSIQ SINA DNKN PCLN CHK SWN TK RIG
SSYS FEYE WB LNG YELP FSLR MU
CIEN TCK FCX DATA.....
AH ER...AMAT UP 5.56%, GPS Down 1.85%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE closed @ high of the day after some hesitation earlier, internals were strong. Its monthly option expiry, which brings volatility to some stocks near certain strike price, it gives buying opportunity as a strategy @ desired price. I may look @ couple of stocks IF they come to my buy point. On Friday, there is a closing BLOG around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed on rethink of Fed minutes, oil is racing higher but no real impact on oil stock or equities.
S&P 500 @ 2184.29, high 2186.36, low 2180.46
Internals are positive by almost 2 to 1
Oil UP $1.47
Gold UP $8.50
Canadian $ UP 76 tick @ .7233....highest level in 2 months
VIX Down 4.02% @ 11.70
In my portfolio :
Sold CNQ @ $32.74
Sold UA @ $42.05
Added 50% CMG @ $394.11
Portfolio AKS GOOG CMG GG JCP
Most stocks are UP
@ 2.26 following are red :
GOOG CMG JCP VRX CSCO AMZN CTRP FB
TWTR NTES V NXPI MA MGA WYNN AGU...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2184.29, high 2186.36, low 2180.46
Internals are positive by almost 2 to 1
Oil UP $1.47
Gold UP $8.50
Canadian $ UP 76 tick @ .7233....highest level in 2 months
VIX Down 4.02% @ 11.70
In my portfolio :
Sold CNQ @ $32.74
Sold UA @ $42.05
Added 50% CMG @ $394.11
Portfolio AKS GOOG CMG GG JCP
Most stocks are UP
@ 2.26 following are red :
GOOG CMG JCP VRX CSCO AMZN CTRP FB
TWTR NTES V NXPI MA MGA WYNN AGU...
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 17, 2016
Indices closed UP .03% to .19%....NICE !!!!
Indices closed UP.
S&P 500 @ 2182.22, high 2183.08, low 2168.50
RSI @ 59.46
CMF @ 0.203
Internals were :
Down volume led by 1.07 to 1 in NYSE & 1.04 to 1 in Nasdaq
Declining stocks led by .91 to 1 in NYSE & 1.43 to 1 in Nasdaq
Net new 52 wk highs were leading by 76 in NYSE & 45 in Nasdaq
VIX Down 3.56% @ 12.19
Oil @ $46.79
Gold @ $1348.80
AH ER....NTAP UP 7.45%, YY UP 3.4%
NTES UP 2.31%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE fought its way back to positive in all indices & closed @ high of the day on Fed minutes, Fed is in no hurry to raise rates, this is good for equities as many traders were afraid for hawkish statement in minutes. Internals were weak but oil turned UP which also supported TAPE. Earnings tonight are positive. Monthly option expiry may play a positive role in next two days of trading.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2182.22, high 2183.08, low 2168.50
RSI @ 59.46
CMF @ 0.203
Internals were :
Down volume led by 1.07 to 1 in NYSE & 1.04 to 1 in Nasdaq
Declining stocks led by .91 to 1 in NYSE & 1.43 to 1 in Nasdaq
Net new 52 wk highs were leading by 76 in NYSE & 45 in Nasdaq
VIX Down 3.56% @ 12.19
Oil @ $46.79
Gold @ $1348.80
AH ER....NTAP UP 7.45%, YY UP 3.4%
NTES UP 2.31%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE fought its way back to positive in all indices & closed @ high of the day on Fed minutes, Fed is in no hurry to raise rates, this is good for equities as many traders were afraid for hawkish statement in minutes. Internals were weak but oil turned UP which also supported TAPE. Earnings tonight are positive. Monthly option expiry may play a positive role in next two days of trading.
BLOG does NOT give buy or sell.
Saleem
Indices down .05% to .21%......
Indices are staging a comeback and @ high of the day after Fed minutes were released, it states "door still open for 2016 rate hike"...nothing imminent @ all.
S&P 500 @ 2177.78, low 2168.50, high 2178.96
Internals are negative
Oil Down 8 cents
Gold Down $10.40
Canadian $ UP 23 tick @ .7165 @ 2 month high
VIX UP .24% @ 12.67
In my portfolio :
Sold VRX @ $29.25
Added 80% CNQ @ $32.19
Added 150% GG @ $18.52
Added 150% UA @ $41.84
Portfolio AKS GOOG CNQ CMG GG JCP UA
Most stocks are down
@ 2.16 following are green :
GOOG CNQ VRX TSLA FB EGO NXPI SBUX NFLX
PCLN TK WB LNG BABA LRCX .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2177.78, low 2168.50, high 2178.96
Internals are negative
Oil Down 8 cents
Gold Down $10.40
Canadian $ UP 23 tick @ .7165 @ 2 month high
VIX UP .24% @ 12.67
In my portfolio :
Sold VRX @ $29.25
Added 80% CNQ @ $32.19
Added 150% GG @ $18.52
Added 150% UA @ $41.84
Portfolio AKS GOOG CNQ CMG GG JCP UA
Most stocks are down
@ 2.16 following are green :
GOOG CNQ VRX TSLA FB EGO NXPI SBUX NFLX
PCLN TK WB LNG BABA LRCX .....
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 16, 2016
Indices closed down .45% to .65%.....
Indices closed down.
S&P 500 @ 2178.15, low 2178.14, high 2186.24
RSI @ 57.85
CMF @ 0.185
Internals were :
Down volume led by 2.02 to 1 in NYSE & 2.87 to 1 in Nasdaq
Declining volume led by 2.21 to 1 in NYSE & 2.27 to 1 in Nasdaq
Net new 52 wk highs were leading by 114 in NYSE & 67 in Nasdaq
VIX UP 7.03% @ 12.64
Oil @ $46.58
Gold @ $1356.90
AH ER...URBN UP 11.88%, PLKI Down 2.5%
CREE Down 7.82%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure and closed @ low of the day, stocks were overbought. Internals were weak. Fed minutes @ 2 PM will dictate how we react, there may be hint of 1 more interest rate hike, which market will accept without any turmoil. Oil continued its run but it was no help to equities today. George Soros halved his gold exposure and doubled down on his bearish bet on the market along with many others, who knows, they may have to do triple down soon.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2178.15, low 2178.14, high 2186.24
RSI @ 57.85
CMF @ 0.185
Internals were :
Down volume led by 2.02 to 1 in NYSE & 2.87 to 1 in Nasdaq
Declining volume led by 2.21 to 1 in NYSE & 2.27 to 1 in Nasdaq
Net new 52 wk highs were leading by 114 in NYSE & 67 in Nasdaq
VIX UP 7.03% @ 12.64
Oil @ $46.58
Gold @ $1356.90
AH ER...URBN UP 11.88%, PLKI Down 2.5%
CREE Down 7.82%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was under selling pressure and closed @ low of the day, stocks were overbought. Internals were weak. Fed minutes @ 2 PM will dictate how we react, there may be hint of 1 more interest rate hike, which market will accept without any turmoil. Oil continued its run but it was no help to equities today. George Soros halved his gold exposure and doubled down on his bearish bet on the market along with many others, who knows, they may have to do triple down soon.
BLOG does NOT give buy or sell.
Saleem
Indices down .35% to .50%.....
Indices are lower and @ low of the day on profit taking. Oil is higher.
S&P 500 @ 2181.07, low 2180.21, high 2186.24
Internals are negative by 2 to 1
Oil UP 75 cents
Gold UP $7.50
Canadian $ UP 70 tick @ .7155.....highest level in months
VIX UP 7.62% @ 12.71
In my portfolio :
Sold NTES @ $216.00
Added 60% GG @ $19.02
Added 100% AKS @ $5.39
Portfolio AKS GOOG CNQ CMG GG JCP UA VRX
Most stocks are down
@ 2.07 following are green :
CNQ CMG GG UA VRX NTES KORS BIDU PANW
SU SBUX YUM PCLN CHK LNG YELP CIEN
TCK AAL M AEM MS......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2181.07, low 2180.21, high 2186.24
Internals are negative by 2 to 1
Oil UP 75 cents
Gold UP $7.50
Canadian $ UP 70 tick @ .7155.....highest level in months
VIX UP 7.62% @ 12.71
In my portfolio :
Sold NTES @ $216.00
Added 60% GG @ $19.02
Added 100% AKS @ $5.39
Portfolio AKS GOOG CNQ CMG GG JCP UA VRX
Most stocks are down
@ 2.07 following are green :
CNQ CMG GG UA VRX NTES KORS BIDU PANW
SU SBUX YUM PCLN CHK LNG YELP CIEN
TCK AAL M AEM MS......
BLOG does NOT give buy or sell.
Saleem
Monday, August 15, 2016
Indices closed UP .28% to .56%....NICE !!!!
Indices closed UP
S&P 500 @ 2190.15, high 2193.81, low 2186.08
RSI @ 64.91
CMF @ 0.263
Internals were :
UP volume led by 2.90 to 1 in NYSE & 3.02 to 1 in Nasdaq
Advancing stocks led by 1.89 to 1 in NYSE & 2.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 222 in NYSE & 203 in Nasdaq
VIX UP 2.25% @ 11.81
Oil @ $45.74
Gold @ $1347.50
Stocks which were UP 1% or more AKS CNQ NTES JCP UA VRX
KORS BIDU CTRP PANW SPLK LULU TWTR AAPL OLED
NXPI LVS WYNN JKS CSIQ LEN QRVO SINA WB CHK
SWN TK SSYS RIG FEYE LNG MU CIEN TCK CRUS
DATA MGA MS FCX ZG AGU......
AH Futures Down
AH Asian markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong and we ended up @ new all time highs in all major indices. Internals were strong all over.Many sectors participated in today's rally, higher oil was the catalyst. Nasdaq RSI @ 71.45.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2190.15, high 2193.81, low 2186.08
RSI @ 64.91
CMF @ 0.263
Internals were :
UP volume led by 2.90 to 1 in NYSE & 3.02 to 1 in Nasdaq
Advancing stocks led by 1.89 to 1 in NYSE & 2.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 222 in NYSE & 203 in Nasdaq
VIX UP 2.25% @ 11.81
Oil @ $45.74
Gold @ $1347.50
Stocks which were UP 1% or more AKS CNQ NTES JCP UA VRX
KORS BIDU CTRP PANW SPLK LULU TWTR AAPL OLED
NXPI LVS WYNN JKS CSIQ LEN QRVO SINA WB CHK
SWN TK SSYS RIG FEYE LNG MU CIEN TCK CRUS
DATA MGA MS FCX ZG AGU......
AH Futures Down
AH Asian markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong and we ended up @ new all time highs in all major indices. Internals were strong all over.Many sectors participated in today's rally, higher oil was the catalyst. Nasdaq RSI @ 71.45.
BLOG does NOT give buy or sell.
Saleem
Indices UP .42% to .69%....NICE !!!!
Indices are higher and @ high of the day, on higher oil. New all time highs for Nasdaq and S&P 500.
S&P 500 @ 2192.56, high 2193.81, low 2186.08
Internals are positive by 2 to 1
Oil UP $1.18
Gold UP $3.40
Canadian $ UP 35 tick @ .7089
VIX UP 1.56% @ 11.73
Portfolio AKS GOOG CNQ CMG GG NTES JCP UA VRX
Most stocks are UP
@ 2.06 following are red :
GG AMZN FB ABX KGC SBUX NFLX YHOO PCLN
BABA YELP FSLR SPWR MCD AEM .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2192.56, high 2193.81, low 2186.08
Internals are positive by 2 to 1
Oil UP $1.18
Gold UP $3.40
Canadian $ UP 35 tick @ .7089
VIX UP 1.56% @ 11.73
Portfolio AKS GOOG CNQ CMG GG NTES JCP UA VRX
Most stocks are UP
@ 2.06 following are red :
GG AMZN FB ABX KGC SBUX NFLX YHOO PCLN
BABA YELP FSLR SPWR MCD AEM .....
BLOG does NOT give buy or sell.
Saleem
Sunday, August 14, 2016
Are we getting overbought ?
Indices have come a long way since low point in 3rd week of June.....
Nasdaq has moved UP from 4574.25 to 5232.90, a move of 658.65 points or 14.40% in a short span of 8 weeks...
Here is the RSI comparison :
Dow 61.82
S&P 500 @ 62.77
Nasdaq 68.90
Bullish sentiment is @ the highest level in a very long time, currently @ 54.2% and bears only 20%....
VIX @ 11.55% ...52 wk low is 11.02
All of the above "fast & furious UP move " is flashing warning sign......
There is a need to pay attention to this "overbought scenario"
It is a good idea to book profit where RSI is hitting 70 area and buy those sectors which are lagging like energy, gas & base metals......
This TAPE has been very good for most of us, thus it is important not to be complacent.
It is also a good idea to reduce exposure until we get some kind of correction.
VIX RSI are generally good in flashing warning signs......
A gradual booking of profit is highly desirable.
Earnings are mostly out of the way, thus a major catalyst is gone.
Next 3 weeks may be on the down side......
Good luck with your own strategy and analysis.
BLOG does NOT give buy or sell.
Saleem
Nasdaq has moved UP from 4574.25 to 5232.90, a move of 658.65 points or 14.40% in a short span of 8 weeks...
Here is the RSI comparison :
Dow 61.82
S&P 500 @ 62.77
Nasdaq 68.90
Bullish sentiment is @ the highest level in a very long time, currently @ 54.2% and bears only 20%....
VIX @ 11.55% ...52 wk low is 11.02
All of the above "fast & furious UP move " is flashing warning sign......
There is a need to pay attention to this "overbought scenario"
It is a good idea to book profit where RSI is hitting 70 area and buy those sectors which are lagging like energy, gas & base metals......
This TAPE has been very good for most of us, thus it is important not to be complacent.
It is also a good idea to reduce exposure until we get some kind of correction.
VIX RSI are generally good in flashing warning signs......
A gradual booking of profit is highly desirable.
Earnings are mostly out of the way, thus a major catalyst is gone.
Next 3 weeks may be on the down side......
Good luck with your own strategy and analysis.
BLOG does NOT give buy or sell.
Saleem
Friday, August 12, 2016
Indices closed mixed....
Indices closed mixed on weak US data. Oil kept its upward momentum.
S&P 500 @ 2184.05, low 2179.42, high 2186.28
RSI @ 62.77
CMF @ 0.290
Oil @ $44.65
Gold @ $1333.20
Canadian $ @ .7042
VIX @ 11.55
Here is my weighting :
GOOG 26.73%
NTES 21.08%
CMG 16.27%
CNQ 12.26%
JCP 7.20%
VRX 6.80%
UA 5.33%
GG 3.22%
AKS 1.11%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2184.05, low 2179.42, high 2186.28
RSI @ 62.77
CMF @ 0.290
Oil @ $44.65
Gold @ $1333.20
Canadian $ @ .7042
VIX @ 11.55
Here is my weighting :
GOOG 26.73%
NTES 21.08%
CMG 16.27%
CNQ 12.26%
JCP 7.20%
VRX 6.80%
UA 5.33%
GG 3.22%
AKS 1.11%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, August 11, 2016
Indices closed UP .46% to .64%....NICE !!!!
Indices closed UP
S&P 500 @ 2185.79, high 2188.45, low 2177.97
RSI @ 63.80
CMF @ 0.269
Internals were :
UP volume led by 2.97 to 1 in NYSE & 2.41 to 1 in Nasdaq
Advancing stocks led by 1.63 to 1 in NYSE & 1.76 to 1 in Nasdaq
Net new 52 wk highs were leading by 205 in NYSE & 123 in Nasdaq
VIX Down 3.07% @ 11.68
Oil @ $43.49
Gold @ $1350.00
In my portfolio...Bought AKS @ $5.33
Stocks which were UP 1% or more included CNQ JCP UA
BIDU SPLK LULU TWTR SU NFLX YHOO SINA
DNKN YUM CHK SWN TK SSYS RIG FEYE
LNG BABA SPWR MU AAL M TCK
DATA MGA GS......
AH ER....NVDA UP 2.38%, JWN UP 10.77%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was strong and all major indices closed @ new all time highs, this has not happened since December 1999. Earnings are giving boost to this market and oil was strong today, on hope of Saudi cutback in production from record level.
Before open JCP will report, here are the expectations :
Sales $2.93 billion, EPS loss of 15 cents
Expectations of next Q sales $2.97 billion, EPS loss of 20 cents
Market is expecting a move of 13.8% UP or Down, i am hoping of an UP move.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2185.79, high 2188.45, low 2177.97
RSI @ 63.80
CMF @ 0.269
Internals were :
UP volume led by 2.97 to 1 in NYSE & 2.41 to 1 in Nasdaq
Advancing stocks led by 1.63 to 1 in NYSE & 1.76 to 1 in Nasdaq
Net new 52 wk highs were leading by 205 in NYSE & 123 in Nasdaq
VIX Down 3.07% @ 11.68
Oil @ $43.49
Gold @ $1350.00
In my portfolio...Bought AKS @ $5.33
Stocks which were UP 1% or more included CNQ JCP UA
BIDU SPLK LULU TWTR SU NFLX YHOO SINA
DNKN YUM CHK SWN TK SSYS RIG FEYE
LNG BABA SPWR MU AAL M TCK
DATA MGA GS......
AH ER....NVDA UP 2.38%, JWN UP 10.77%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was strong and all major indices closed @ new all time highs, this has not happened since December 1999. Earnings are giving boost to this market and oil was strong today, on hope of Saudi cutback in production from record level.
Before open JCP will report, here are the expectations :
Sales $2.93 billion, EPS loss of 15 cents
Expectations of next Q sales $2.97 billion, EPS loss of 20 cents
Market is expecting a move of 13.8% UP or Down, i am hoping of an UP move.
BLOG does NOT give buy or sell.
Saleem
Indices UP .50% to .70%....NICE !!!!
Indices are @ high of the day on higher oil prices and good retail earnings.
S&P 500 @ 2186.36, high 2187.26, low 2177.97
Internals are positive by 2 to 1
Oil UP $1.86
Gold Down $1.40
Canadian $ UP 98 tick @ .7042
VIX Down 4.40% @ 11.52
Portfolio GOOG CNQ CMG GG NTES JCP UA VRX
Most stocks are UP
@ 2.08 following are red :
VRX X TSLA KGC OLED FFIV WB AEM
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2186.36, high 2187.26, low 2177.97
Internals are positive by 2 to 1
Oil UP $1.86
Gold Down $1.40
Canadian $ UP 98 tick @ .7042
VIX Down 4.40% @ 11.52
Portfolio GOOG CNQ CMG GG NTES JCP UA VRX
Most stocks are UP
@ 2.08 following are red :
VRX X TSLA KGC OLED FFIV WB AEM
BLOG does NOT give buy or sell.
Saleem
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