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
13 comments:
Hi Stocktrader,
Added 35% LULU @ $61.80
Saleem
HI guys,
BOUGHT ZYNE AT 12.80. I SEE THE STOCK IS QUITE WEAK. LET US SEE.
SALEEM, GOOD LUCK WITH MORE LULU
JOSEPH
Hi Saleem,
Many retail stocks continue to underperform. DKS got hit today too...
Stocktrader
Hi Joseph,
This is the first good support level for the stock. It is a nice entry for a start :)
Stocktrader
Hi Stocktrader,
Thanks for your input on ZYNE. I had changed twice the price to get it under 13.
Let us hope it holds and move forward. GL
Joseph
Stocktrader,
I should have said I had changed the buy order price twice to get it under 13. My English....
Joseph
Hi Joseph,
I had a friend that was trying to get into it also, and didn't want to play the price game too much. I told him yesterday to put an order for 12.72 but it didn't fall that low. Unfortunately he didn't GTC it and wasn't on the ball this morning, so he's waiting still with the refreshed offer...
Stocktrader
Hi Joseph,
Good luck with ZYNE, your discipline in buying and selling is excellent.
Saleem
Hi guys,
Trimmed AAPL @ 112.58
I needed to raise some cash and thought this would be the best way.
Bought ZYNE @ 13.06
With GWPH continuing to run, I wanted to re-enter. I would be willing to buy more upon a secondary offering.
Stocktrader
Hi Stocktrader,
Good luck with ZYNE again$$$$
Saleem
Hi Saleem,
Thanks for your kind words of encouragement. It is true I don't run after a stock. Often I wait for the stock to come to me. In a way it has helped me a lot. I must say that your buy and sell orders displayed here helped me. At the same time I must admit that there were moments when I lost some golden opportunities because of my reluctance to buy some stocks. In those situations I say to myself after all I have not lost anything. Sometimes cash is also a position.
The metaphor comes to my mind, "One bird in the hand is better than two in the bush"
Once again thanks for everything. Ultimately, our aim is to make money. GL
Joseph
Hi Stocktrader,
The market is down. Probably your friend will have a chance to buy ZYNE today. Let us hope the market will bounce back. GL
Joseph
Hi Joseph,
Yes, my friend is now in also. We are ready--it can run now! :)
I think this selloff is progressing appropriately. It does not worry me longer term although it could certainly last through Monday as we often see these weekend risk-off scenarios go.
We don't repeat the same crisis twice because we know what to do the next time. In the end this "crisis" will be resolved.
Stocktrader
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