Indices closed down.
S&P 500 @ 2161.20, low 2154.77, high 2164.41
RSI @ 50.33
CMF @ 0.047
Internals were :
Down volume led by 1.52 to 1 in NYSE & 1.03 to 1 in Nasdaq
Declining stocks led by 1.40 to 1 in NYSE & 1.40 to 1 in Nasdaq ( not a typo)
Net new 52 wk highs were leading by 58 in NYSE & 50 in Nasdaq
VIX UP 2.11% @ 13.57
Oil @ $48.81
Gold @ $1312.70
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE rested today to sift through weak & better economic data in US. Fed interest rate policy remains in focus as job report looms.Hopefully we build our momentum from turnaround Tuesday into Friday's another end all and be all, jobs report. Stay with high comfort stocks, Google announces its phone on Tuesday, to capitalize on apps and search business, Android operating system leads the cell phone world by a mile.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Sold TNA @ 79.58
It seems like stocks are lacking energy and that could hurt small caps. I'm not sure if this is "Fed fear" again or not, but the strongest part of our economy is jobs and that report is coming this week. I'll step to the sidelines on general market exposure.
Stocktrader
Hi Stocktrader,
Do whatever which increases your comfort level.
Market is always unpredictable.
Saleem
Hi Stocktrader,
ZYNE is moving higher and higher. Let us hope TRIL also moves higher and faster. You have been playing with TNA for sometime. During Brexit crisis, I lost some money with TZA thinking that the market would come down. I had profit at one point but I made a blunder in holding on to it. Good luck Stocktrader.
Joseph
Hi Joseph,
Both ZYNE and TRIL remain undervalued but there is always uncertainty with biotechs, not only in trials but in timing of the move. Even CNAT is moving today, but these stocks are not easy.
I have been playing with TNA much more than usual recently, mostly because I felt the market was overdiscounting some bad news that represented an opportunity. I am a stock picker at heart and primarily stick with that :)
Stocktrader
Hi Stocktrader,
Sold GOOG @ $777.00
Saleem
Hi Saleem,
Good luck with the next pick!
I am suddenly very nervous about the state of the market. Today's action is volatile and new threats are surfacing. I am tempted to reduce exposure further but do not want to overreact.
Stocktrader
Hi Stocktrader,
Today's TAPE is certainly disappointing, let us see how we close.
Saleem
Hi Stocktrader,
Bought NTNX @ $40.22
Saleem
Hi Saleem,
Good luck with NTNX!
Stocktrader
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