Friday, September 30, 2016

Indices closed UP .80% to .91%...NICE !!!!

Indices closed near high of the day as DB situation eased up and oil continued its move higher.

S&P 500 @ 2168.27, high 2175.30, low 2156.51

RSI @ 52.43

CMF @ 0.038

Internals were :

UP volume led by 2.92 to 1 in NYSE & 3.15 to 1 in Nasdaq

Advancing stocks led by 2.40 to 1 in NYSE & 2.69 to 1 in Nasdaq

Net new 52 wk highs were leading by 99 in NYSE & 71 in Nasdaq

VIX Down 5.21% @ 13.29

Oil @ $48.24

Gold @ $1317.10

Canadian $ @ .6883

Stocks which were up 1% or more included GWPH SPLK ZYNE 
TSLA MACK TRIL NXPI LVS SBUX AMZN NFLX YHOO
DNKN EBAY YUM FFIV MA FNSR MU AAL M PANW
CRUS SWIR MGA MS FCX GS......

Here is my weighting :

GOOG 35.61%

CMG   24.95%

LULU 15.96%

CNQ   13.84%

VRX   9.64%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem












Thursday, September 29, 2016

Indices closed down .93% to 1.07%.....

Indices closed down.

S&P 500 @ 2151.13, low 2145.20, high 2172.67

RSI @ 47.48

CMF @ 0.054

Internals were :

Down volume led by 2.86 to 1 in NYSE & 2.21 to 1 in Nasdaq

Declining stocks led by 3.87 to 1 in NYSE & 3.09 to 1 in Nasdaq

Net new 52 wk highs were leading by 71 in NYSE & 55 in Nasdaq

VIX UP 13.16% @ 14.02

Oil @ $47.83

Gold @ $1326.00

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was under selling pressure due to uncertainty with leading German Bank, there is a fear of spillover effect IF this issue unravels. I am of the opinion, like any other major issue, this will be resolved by Germany. Any more selling can be used for strategic buying / shifting of portfolio. Internals, although weak, but new 52 wk highs are still leading. There is a closing BLOG only on Friday's around 7 PM.

BLOG does NOT give buy or sell.

Saleem

Indices down .96% to 1.14%......

Indices are sharply lower on banking concern, oil is higher, which is being ignored.

S&P 500 @ 2149.50, low 2145.20, high 2172.67

Internals are negative by minimum 3 to 1

Oil UP 61 cents

Gold UP $3.00

Canadian $ Down 85 tick @ .6837

VIX UP 17.92% @ 14.61

In my portfolio...added 35% LULU @ $61.80

Portfolio GOOG CNQ CMG LULU VRX

Most stocks are down

@ 2.19 following are green :

CNQ CMG TWTR NXPI JKS COH CSIQ EXPE
SU PCLN EBAY RIG FSLR PANW LRCX
MLNX.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, September 28, 2016

Indices closed UP .24% to .61%....NICE !!!!

Indices closed UP.

S&P 500 @ 2171.37, high 2172.40, low 2151.79

RSI @ 53.60

CMF @ 0.112

Internals were :

UP volume led by 4.45 to 1 in NYSE & 1.42 to 1 in Nasdaq

Advancing stocks led by 3.13 to 1 in NYSE & 1.49 to 1 in Nasdaq

Net new 52 wk highs were leading by 98 in NYSE & 87 in Nasdaq

VIX Down 5.42% @ 12.39

Oil @ $47.05

Gold @ $1323.70

Stocks which were UP 1% or more included CNQ
TWLO GWPH AMZN CTRP ABX LVS KGC
JKS LEN CSIQ EXPE SU CHK SWN TK 
RIG LNG SPWR AKS X PANW TCK
SLW AEM DATA MGA MS FCX
ZG AGU......

AH ER...PIR UP 8.9%

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE close near high of the day, OPEC gave a big surprise to GS who was extremely bearish on oil for 2 years, they actually will cut production starting November 1st, 750,000 barrels per day. Oil & oil related stocks took off to a gain of around 8%. OPEC certainly changed the conversation of many pundits on CNBC. S&P 500 closed above 50 DMA, which is a good thing.Expect follow thru closing gains for Thursday.

BLOG does NOT give buy or sell.

Saleem

Indices UP .07% to .35%....NICE !!!!

Indices have turned UP & @ high of the day, on higher oil prices as OPEC agreed on production limit, starting in November. Good economic data in US also helped, assurance by Fed chief that banks are on sound footing gave comfort to doubters.

S&P 500 @ 2166.03, high 2166.17, low 2151.79

Internals are positive

Oil UP $1.89

Gold Down $3.80

Canadian $ UP 53 tick @ .6860

VIX Down 5.11% @ 12.40

Portfolio GOOG CNQ CMG LULU VRX

Most stocks are up.

@ 2.30 following are red :

GOOG LULU NTES BIDU TWTR ZYNE OLED
NXPI SBUX FNSR WB MU M MCD....

BLOG does NOT give buy or sell.

Saleem

Tuesday, September 27, 2016

Indices closed UP .64% to .92%.....NICE !!!!

Indices closed UP.

S&P 500 @ 2159.93, high 2161.13, low 2141.55

RSI @ 50.23

CMF @ 0.066

Internals were :

UP volume led by 1.28 to 1 in NYSE & 2.52 to 1 in Nasdaq

Advancing stocks led by 1.42 to 1 in NYSE & 1.92 to 1 in Nasdaq

Net new 52 wk highs were leading by 74 in NYSE & 58 in Nasdaq

VIX Down 9.66% @ 13.10

Oil @ $44.67

Gold @ $1330.40

Stocks which were UP 1% or more included GOOG VRX
UA TWLO NTES BIDU QRVO AMZN FB CTRP MS
SPLK TWTR TRIL JKS MSFT NFLX CSIQ YHOO
SINA EXPE FFIV FNSR FEYE WB BABA MU
YELP FSLR SPWR AMCC CIEN OLED 
AAL PANW LRCX CRUS DATA 
CSOD ZG MLNX.....

AH ER...NKE Down 2.44%

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE got its footing back despite oil being lower , Europe being sharply down, plus proclamation of stock market as "bubble". Indices closed near high of the day and internals were strong, Nasdaq leading stocks were winners. Oil may still hold the key to higher stock prices, IF oil UP we go UP. Stay diversified and show conviction and patience, the key to making money in a strong bull market.

BLOG does NOT give buy or sell.

Saleem

Indices UP .65% to .91%....NICE !!!!

Indices are back on winning track after 2 day of consolidation. TAPE is ignoring oil weakness and is @ high of the day.

S&P 500 @ 2159.65, high 2161.13, low 2141.55

Internals are positive and Nasdaq is strong with 2 to 1 lead.

Oil Down $1.35

Gold Down $12.80

Canadian $ UP 9 tick @ .6785

VIX Down 9.13% @ 13.13

Portfolio GOOG CNQ CMG LULU VRX

Most stocks are UP

@ 2.36 following are red :

CNQ TSLA ZYNE ABX GG GWPH NXPI DNKN
SU CHK SWN TK RIG LNG AKS X TCK SLW
FCX.....

BLOG does NOT give buy or sell.

Saleem

Monday, September 26, 2016

Indices closed down .86% to .91%......

Indices closed down.

S&P 500 @ 2146.10, low 2145.04, high 2158.54

RSI @ 45.83

CMF @ 0.046

Internals were :

Down volume led by 3.05 to 1 in NYSE & 2.23 to 1 in Nasdaq

Declining stocks led by 2.56 to 1 in NYSE & 3.16 to 1 in Nasdaq

Net new 52 wk highs were leading by 51 in NYSE & 26 in Nasdaq

VIX UP 17.98% @ 14.50

Oil @ $45.93

Gold @ $1344.10

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under selling pressure from Asia, then Europe based on Banking issue in Germany, tonight debate was an added distraction. S&P 500 and Dow both closed below 50 DMA, Nasdaq is still above 50 DMA. Internals were weak. Hopefully indices will behave better on "turnaround Tuesday".

BLOG does NOT give buy or sell.

Saleem

Indices down .76% to .85%......

Indices are down and near low of the day, on political jitters as first debate goes on tonight. Oil is sharply higher on Saudi's willingness to scale back production, but its no help to TAPE.

S&P 500 @ 2148.34, low 2145.91, high 2158.54

Internals are negative by 2 to 1

Oil UP $1.60

Gold UP $2.20

Canadian $ Down 32 tick @ .6799

VIX UP 16.44% @ 14.31

In my portfolio...Sold GG @ $16.71

Portfolio GOOG CNQ CMG LULU VRX

Most stocks are down

@ 2.12 following are green :

CNQ CMG TWLO AAPL TWTR TSLA ZYNE MACK
DNKN CHK TK RIG YELP AKS X TCK.....

BLOG does NOT give buy or sell.

Saleem

Sunday, September 25, 2016

Market setting UP nicely for Q4 run......

Indices are looking very healthy for Q4 run.

Here is a table of where major indices are from all time highs :

Nasdaq     .7% away from all time high

SOX         .8% away from all time high

S&P 500  1.33% away from all time high

Dow        2.18% away from all time high

Russell    3.3% away from all time high

Here is a look @ RSI :

Nasdaq     59.10

Russell     57.58

SOX        56.67

S&P 500 51.52

Dow        47.78

IF we look @ 2 tables above, there is a very clear & strong picture emerging, that Nasdaq is the strongest in all indices. It is important to be overweight in strong technology stocks. Dow is either near or @ low in both table, showing a laggard performance.

Russell is an interesting situation, although, it is lagging in terms of how far from all time high, but it has come quickly to be the second most strong in terms of RSI, lot of opportunities there.

Biotech, although, i am not a follower for a long time, but it has been a star performer and has got my attention now.

As we enter Q4, which is strongest Q in terms of technology and market strength, we are position to make series of new all time high, seasonality matters, so pay attention to your allocation and sector weighting.

Very few times, that Q4 seasonality is so strong, than currently visible, so take advantage of this seasonal strength by showing conviction and patience.

Good luck with your own strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem




Friday, September 23, 2016

Indices closed down .57% to .71%.....

Indices closed down on sharply lower oil & weak economic data. Fed speak again trying to do usual damage but no takers.

S&P 500 @ 2164.69, low 2163.97, high 2173.75

RSI @ 51.52

CMF @ 0.068

Internals were :

Down volume led by 2.37 to 1 in NYSE & 1.53 to 1 in Nasdaq

Declining stocks led by 2.14 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new 52 wk highs were leading by 74 in NYSE & 85 in Nasdaq

VIX UP 2.25% @ 12.29

Oil @ $44.48

Gold @ $1341.70

Canadian $ @ .6835

Stocks which closed green included CMG VRX
KORS AMZN TWTR TSLA TRIL LVS AKS
CSIQ DNKN EXPE YELP FSLR SPWR
AAL X M TCK TRIP......

Here is my weighting :

GOOG  35.22%

CMG     23.81%

LULU   12.51%

CNQ     12.50%

VRX     10.63%

GG      5.33%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, September 22, 2016

Indices closed UP .54% to .84%....NICE !!!!

Indices closed UP.

S&P 500 @ 2177.18, high 2179.99, low 2170.94

RSI @ 55.85

CMF @ 0.088

Internals were :

UP volume led by 3.38 to 1 in NYSE & 3.92 to 1 in Nasdaq

Advancing stocks led by 4.84 to 1 in NYSE & 2.54 to 1 in Nasdaq

Net new 52 wk highs were leading by 168 in NYSE & 186 in Nasdaq

VIX Down 9.62% @ 12.02

Oil @ $46.32

Gold @ $1344.70

Stocks which closed UP 2% or more included CNQ CMG
JKS RIG FEYE BABA FSLR SPWR MGA FCX ZG
MLNX.....

AH Futures Down

AH Asian Markets Mixed

AH OIl & Gold Down

About market, TAPE confirmed this UP move by closing UP back to back. Indices closed near high of the day.Internals were strong across the board. Its weekly option expiry, which may give more UP move to strong stocks. VIX is getting oversold, so keep an eye on any temporary pullback, which could provide buying good stocks @ slightly lower prices, that may happen on Monday. There is only a closing BLOG on Friday's around 7 PM.

BLOG does NOT give buy or sell.

Saleem

Indices UP .47% to .68%....NICE !!!!

Indices are higher on higher oil & lower US$.

S&P 500 @ 2173.74, high 2179.99, low 2170.94

Internals are positive by 5 to 1 in NYSE & 2.5 to 1 in Nasdaq

Oil UP 97 cents

Gold UP $10.70

Canadian $ UP 32 tick @ .6933

VIX Down 7.89% @ 12.25

In my portfolio Added 100% LULU @ $65.76

Portfolio GOOG CNQ CMG GG LULU VRX

Most stocks are UP

@ 2.25 following are red :

VRX BIDU SPLK ABX JCP SWN WB YELP MU
LRCX TCK SLW LRCX CRUS WYNN.....

BLOG does NOT give buy or sell.

Saleem

Wednesday, September 21, 2016

Indices closed Up .90% to 1.09%.....NICE !!!!

Indices closed UP.

S&P 500 @ 2163.12, high 2165.11, low 2139.57

RSI @ 51.60

CMF @ 0.051

Internals were :

UP volume led by 9.71 to 1 in NYSE & 3.62 to 1 in Nasdaq

Advancing stocks led by 6.26 to 1 in NYSE & 2.65 to 1 in Nasdaq

Net new 52 wk highs were leading by 56 in NYSE & 82 in Nasdaq

VIX Down 16.46% @ 13.30

Oil @ $45.34

Gold @ $1331.40

Stocks which were UP 2% or more included CNQ GG VRX
NTES UA QRVO BIDU CTRP EGO ABX KGC JCP
OLED CSIQ YHOO FNSR CHK SWN TK RIG
WB LNG BABA YELP MU AKS X M TCK
AEM FCX ZG....

AH ER..JBL Down 4.76%, RHT UP 6.59%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE responded strongly to no raise in interest rates. Internals were strong. Nasdaq jumped to new all time high @ close. Most sectors participated in today's sharp rally. It is all clear for next few months for market with usual fed officials talking frenzy. Stay diversified and show patience and conviction, new highs begets more highs.

BLOG does NOT give buy or sell.

Saleem

Indices UP .37% to .44%.....NICE !!!!

Indices are UP after fed leaves interest rate unchanged.

S&P 500 @ 2149.16, high 2153.73, low 2139.57

Internals are positive by 3 to 1 in NYSE & by 50% in Nasdaq

Oil UP $1.42

Gold UP $19.90

Canadian $ UP 19 tick @ .6832

VIX Down 9.55% @ 14.40

Portfolio GOOG CNQ CMG GG LULU VRX

Most stocks are UP

@ 2.29 following are red :

CMG LULU PANW AAPL JKS LEN NFLX SPWR
AAL WYNN.....

BLOG does NOT give buy or sell.

Saleem

Tuesday, September 20, 2016

Indices closed UP .03% to .12%....NICE !!!!

Indices closed UP.

S&P 500 @ 2139.76, high 2150.80, low 2139.17

RSI @ 43.16

CMF @ -0.035

Internals were :

Down volume led by 1.58 to 1 in NYSE & 1.11 in Nasdaq

Declining stocks led by 1.58 to 1 in NYSE & 1.10 to 1 in Nasdaq

Net new 52 wk highs were leading by 11 in NYSE & 42 in Nasdaq

VIX UP 2.51% @ 15.92

Oil @ $44.05

Gold @ $1318.20

Stocks which closed green included GOOG
BMY BIDU AMZN CTRP KGC DNKN
EXPE MA SWN SPWR MCD CRUS
MGA AGU.......

AH ER ....ADBE UP 5.03%, FDX UP 2.92%
                 KBH UP 2.48%

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE went UP to flat and closed near low of the day, CMF is red in Dow & S&P 500. Internals are mostly negative. Now it is all about fed policy on interest rate @ 2 PM we were bombarded by 19 fed officials as to where interest rates are headed, now the real policy will come out. Fed will ensure markets health, irrespective of their decision, so language becomes critical. Nasdaq CMF is green and is giving clear indication of bullish posture. So be ready for UP / Down tape in first 30 minutes after 2 PM. By 3 PM we will know where we are headed for close, hopefully sharply higher.

BLOG does NOT give buy or sell.

Saleem

Indices UP .26% to .27%....NICE !!!!!

Indices opened UP then faded, now trying to find footing. Oil is trying to stabilize here.

S&P 500 @ 2144.08, high 2150.80, low 2139.17

Internals are mostly positive

Oil UP 14 cents

Gold Down 40 cents

Canadian $ Down 23 tick @ .6775...6 months low against US$

VIX UP 2.12% @ 15.86

Portfolio GOOG CNQ CMG GG LULU VRX

Most stocks are UP

@ 2.15 following are red :

CMG VRX QRVO NTES TSLA JCP OLED JKS
LEN SINA FNSR WB BABA FSLR SLW
DATA FCX ZG ......

BLOG does NOT give buy or sell.

Saleem

Monday, September 19, 2016

Indices mixed......

Indices were strong @ open and then faded to all red, now mixed, all on Fed jitters.

S&P 500 @ 2142.67, high 2153.61, low 2135.91

Internals are positive by 2 to 1

Oil UP 35 cents

Gold UP $7.00

Canadian $ UP 18 tick @ .6811

VIX UP .46% @ 15.44

Portfolio GOOG CNQ CMG GG LULU VRX

Most stocks are UP

@ 2.30 following are red :

GOOG CMG LULU AMZN TWTR AAPL OLED
NXPI LVS SBUX EXPE PCLN CHK FEYE 
BABA YELP JKS MU LRCX DATA 
WYNN TRIP....

PS...there is no closing BLOG today, as i am busy 
with visitors, will be back with PM and closing BLOG on Tuesday.

BLOG does NOT give buy or sell.

Saleem



Sunday, September 18, 2016

Market @ critical juncture.....

Indices are @ the mercy of fed decision on Wednesday.

IF we look @ indices, they are sitting near all time highs :

S&P 500 4.13% away from high

Dow 2.92% away from high

Nasdaq only .81% away from high

Here is the RSI picture :

Nasdaq 54.75

S&P 500 42.91

Dow 41.36

IF we look @ all indices, Nasdaq is in serious bull mode even just before fed decision, this is a very good indicator for technology stocks. 

S&P 500 is a laggard.

After 19 fed speakers trying to crush this market, it is really interesting that, technology stocks did not hear any of those 19 fed officials, and kept their composure.

SO fed will say " we have to take pre-emptive action to normalize interest rate by increasing .25%" or they will say "we need more data to see the trend"

In first case of higher interest rate, language becomes critical or Q & A explanation, IF it is one off, we are off to the races and indices may jump to new all time high in Nasdaq.......

IF fed need more data, then we will have a "relief rally"

Either way barring nasty language of more than one rate hike, indices are sitting very comfortably below highs.

From October it is Q 4, which is the strongest part of stock market, earnings for Q 3 will start with AA in week 1, earnings may surprise again with majority beating consensus.

Based on seasonality, indices will recover quickly from any fed surprise and march towards series of new all time highs.

Strongly recommend higher allocation in a well diversified portfolio, go for strong stocks with highest weighting in technology.

Good luck with your own interpretation of this TAPE and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, September 16, 2016

Indices closed down .10% to .49%.....

Indices closed down on jitters about fed policy on hotter than expected inflation and oil being down again.

S&P 500 @ 2139.16, low 2131.20, high 2146.48

RSI @ 42.91

CMF @ 0.089

Internals were :

Down volume led by 2.30 to 1 in NYSE & 1.63 to 1 in Nasdaq

Declining stocks led by 1.79 to 1 in NYSE & 1.18 to 1 in Nasdaq

Net new 52 wk highs were leading by 24 in NYSE & 36 in Nasdaq

VIX @ 15.37

Oil @ $43.03

Gold @ $1310.20

Canadian $ @ .6787

Stocks which were UP 1% or more included AMZN EGO
TWTR TSLA OLED NFLX CHK AKS CSOD FCX
ZG.....

Here is my weighting :

GOOG   37.38%

CMG     25.59%

CNQ     13.38%

VRX     11.37%

LULU    6.87%

GG        5.41%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Thursday, September 15, 2016

Indices closed UP .99% to 1.47%....NICE !!!!

Indices closed UP.

S&P 500 @ 2147.26, high 2151.31, low 2122.36

RSI @ 45.11

CMF @ 0.138

Internals were :

UP volume led by 4.63 to 1 in NYSE & 4.29 to 1 in Nasdaq

Advancing stocks led by 3.14 to 1 in NYSE & 2.72 to 1 in Nasdaq

Net new 52 wk highs were leading by 26 in NYSE & 28 in Nasdaq

VIX Down 10.14% @ 16.30

Oil @ $43.91

Gold @ $1318.00

Stocks which were UP 2% or more included QRVO BIDU
CTRP EGO ABX AAPL TSLA JCP OLED NXPI WB
JKS BABA YELP MU AMCC TCK CRUS SWIR....

AH News ..ORCL Down 3.21%, P UP 2.18%

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE staged a spirited rally on weak economic data, indices closed near high of the day. Internals were all strong and positive. It is important to have high comfort stocks in this volatile TAPE. Strong stocks were all higher including AAPL & FANG, which is a good sign of technical strength in technology stocks. There is a closing BLOG around 7 PM on Friday's.

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.01% to 1.39%....NICE !!!!

Indices are rocketing UP & @ high of the day, on less than stellar economic news in US, oil is also higher after finding support. OH all those Fed speakers are not looking very smart, with their all in hawkish talk.

S&P 500 @ 2147.78, high 2147.91, low 2122.36

Internals are positive by 3 to 1

Oil UP 55 cents

Gold Down $5.80

Canadian $ UP 57 tick @ .6864

VIX Down 11.96% @ 15.97

Portfolio GOOG CNQ CMG GG LULU VRX

Most stocks are UP

@ 2.19 following are red :

LULU SPWR X......

BLOG does NOT give buy or sell.

Saleem

Wednesday, September 14, 2016

Indices closed mixed.....

Indices closed mixed.

S&P 500 @ 2125.77, low 2119.90, high 2141.33

RSI @ 37.19

CMF @ 0.144

Internals were :

Down volume led by 1.84 to 1 in NYSE & .70 to 1 in Nasdaq

Declining stocks led by 1.10 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new 52 wk lows were leading by 5 in NYSE & highs by 1 in Nasdaq

VIX UP 1.62% @ 18.14

Oil @ $43.58

Gold @ $1326.10

Stocks which were UP 1% or more included QRVO SPLK 
FNSR NTES EGO TWTR AAPL NXPI LVS WYNN
SINA WB BABA M TCK CRUS......

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure again due to lower oil prices, but managed to keep support around 2120 area, this could be a triple bottom. Internals were mostly weak. AAPL & its suppliers were strong. FANG maintained green close. TAPE may have discounted Fed meeting already.

BLOG does NOT give buy or sell.

Saleem

Indices mixed.....

Indices are mixed with Nasdaq only in green, oil is lower and is impacting indices.

S&P 500 @ 2126.62, low 2125.00, high 2141.33

Internals are mixed

Oil Down $1.03

Gold UP $2.40

Canadian $ Down 24 tick @ .6804

VIX UP .45% @ 17.93

Portfolio GOOG CNQ CMG GG LULU VRX

Most stocks are higher

@ 2.16 following are red :

CNQ CMG BMY UA COH JKS CSIQ MSFT
CHK SWN FEYE RIG LNG FSLR SPWR
AKS X AAL AEM SWIR CSOD FCX....

BLOG does NOT give buy or sell.

Saleem

Tuesday, September 13, 2016

Indices closed down 1.09% to 1.48%......

Indices closed down.

S&P 500 @ 2127.02, low 2120.27, high 2150.47

RSI @ 37.49

CMF @ 0.125

Internals were :

Down volume led by 25.33 to 1 in NYSE & 3.31 to 1 in Nasdaq

Declining stocks led by 7.96 to 1 in NYSE & 4.37 to 1 in Nasdaq

Net new 52 wk lows were leading by 18 in NYSE & 13 in Nasdaq

VIX UP 17.74% @ 17.85

Oil @ $44.90

Gold @ $1323.70

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE went into freefall again and closed near low of the day, S&P 500 came near low of Friday but did not violate, a sign of support near 2120 area. Internals were horrible in NYSE with 25.33 to 1 down volume. Today also has the feel of capitulation and then finding support, even IF we violate support by hair, it will be triple bottom, before we take off again. In this support finding TAPE, it is important to cut loose non performing stocks and position with better quality. All we need now is 2 green close to cut through this fed led negativity.

BLOG does NOT give buy or sell.

Saleem

Indices lower by 1.30% to 1.59%.....

Oil is sharply lower on prediction of glut till 2017, US$ sharply higher which is hammering currencies and commodities. Indices are @ low of the day.

S&P 500 @ 2123.62, low 2120.27, high 2150.47

Internals are negative by negative by 9 to 1 in NYSE & 6 to 1 in Nasdaq

Oil Down $1.28

Gold Down $ 2.60

Canadian $ Down 1.52 cent @ .6815

VIX UP 23.48% @ 18.72

Portfolio GOOG CNQ CMG GG LULU JCP VRX

Most stocks are down

@ 2.36 following are green :

AAPL NTES QRVO ISIL......

BLOG does NOT give buy or sell.

Saleem

Monday, September 12, 2016

Indices closed UP 1.32% to 1.68%.....NICE !!!!!

Indices closed UP.

S&P 500 @ 2159.04, high 2163.30, low 2119.12

RSI @ 46.09

CMF @ 0.165

Internals were :

UP volume led by 6.09 to 1 in NYSE & 6.43 to 1 in Nasdaq

Advancing stocks led by 2.61 to 1 in NYSE & 2.63 to 1 in Nasdaq

Net new 52 wk lows were leading by 2 in NYSE & 18 in Nasdaq

VIX Down 13.37% @ 15.16

Oil @ $46.29

Gold @ $1325.60

Stocks which were UP 2% or more included GG VRX
NTES UA EGO AAPL LVS V KGC QRVO NFLX
EXPE MA CHK MU LRCX TCK SLW AEM
CRUS MS FCX WYNN TRIP.....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE reacted to what fed takes then fed gives back also, most influential member of fed came to rescue, and everybody smiled as if nothing happened on Friday.Indices closed near high of the day. Internals were mostly positive.Fed give and take is over, now TAPE has to stand on its own two feet. Damage was done on Friday, it was a break in technicals, it could take more than few days to get its act together. Negativity will give buying opportunities as we go towards fed meeting.

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.38% to 1.59%....NICE !!!!

Indices are reversing sharply to the upside & @ high of the day, on easing of fear of hike in interest rates. Oil also reversed.

S&P 500 @ 2159.87, high 2160.61, low 2119.12

Internals are positive by 2 to 1

Oil UP 38 cents

Gold Down $2.50

Canadian $ UP 11 tick @ .6965

VIX Down 13.66% @ 15.11

Portfolio GOOG CNQ CMG GG LULU JCP VRX

Most stocks are UP

@ 2.49 following are down :

WB JKS AAL DATA AGU MLNX....

BLOG does NOT give buy or sell.

Saleem

Sunday, September 11, 2016

Are indices in trouble ?

SO...we had our 1st high volume selling since June, reasons are many, but most of all, there was complacency, every trader got too comfortable with this ever resilient market.

NOW...the question is where to NOW ?

Before we attempt to answer that all important question, lets look @ RSI first :

SOX @ 39.23, only sector which is above 50 DMA by 6+ points

Nasdaq @ 39.00

Dow @ 32.08

S&P 500 @ 31.94

IF we look @ these RSI numbers, most technical followers should be elated, that we are @ extremely low RSI and is considered "deeply oversold " and @ good entry point......

IF we look @ internal carnage of this market, it was this bad :

Down volume led by in NYSE @ 31.69 to 1 in NYSE

Declining stocks led by 19.30 to 1 in NYSE

Nasdaq fared a touch better :

Down volume led by 10.18 to 1 

Declining stocks led by 6.16 to 1

These internals are a reflection of extreme pessimism, means we are "deeply oversold" or @ good entry point.

Instead of "fear" taking over, this is a time to think long term seasonality of Q4

Q4 is always bullish, which may be starting earlier than expected, in terms of entry in major Nasdaq stocks.

I personally believe that this kind of selling cannot be sustained, we may have seen the low or maybe 1% from low......

Buying low and selling high, is a well known strategy, we may have "overreacted" to low rate impact on US economy......

SO...it is your buying opportunity which only comes every 90 days or longer......

Good luck with your own strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem

Friday, September 9, 2016

Indices closed down 2.13% to 2.54%......

Indices closed @ absolute low of the day, all indices are below 50 DMA, a major technical damage. Catalysts of all this carnage, weak Germany economic data, Fed officials setting policy in media on a Friday session, oil sharply lower, US$ sharply higher.

S&P 500 @ 2127.81, low 2127.81, high 2169.08

RSI @ 31.94

CMF @ 0.132

Internals were :

Down volume led by 31.69 to 1 in NYSE & 10.18 to 1 in Nasdaq

Declining stocks led by 19.30 to 1 in NYSE & 6.16 to 1 in Nasdaq

Net new 52 wk highs were leading by 9 in NYSE & lows by 1 in Nasdaq

VIX UP 39.89% @ 17.50

Oil @ $45.88

Gold @ $1334.50

Canadian $ @ .6967

Stocks which closed green included JCP DATA WYNN

In my portfolio..Sold AKS @ $4.07 in AH

Here is my weighting :

GOOG   35.52%

CMG      25.64%

CNQ      13.50%

VRX      11.25%

JCP        6.61%

GG        5.32%

LULU   2.16%

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem