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
2 comments:
Hi Saleem,
Sold FDX @ 161.80
Bought QRVO @ 54.41
I was caught without cash today and wanted in on an idea. Unfortunately, it probably forced me to miss a better entry price on QRVO, but 1% isn't a big deal as I look out further.
With AAPL pre-orders well ahead of expectations, Samsung forced reorders due to the recall, the prospects of an even fiercer iPhone 8 cycle next year, and the analyst day for QRVO coming soon where they will talk about how to recapture gross margin declines, I think the risk/reward sets up very well here.
Stocktrader
Hi Stocktrader,
Good luck with QRVO.
Saleem
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