Indices closed mixed.
S&P 500 @ 2256.96, low 2252.37, high 2264.03
RSI @ 74.78
CMF @ 0.221
Internals were :
Down volume led by 1.61 to 1 in NYSE & 2.16 to 1 in Nasdaq
Declining stocks led by 1.79 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 172 in NYSE & 229 in Nasdaq
AH ER...PAY Down 4.81%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE took a breather and closed mixed, Dow made another record close.Nasdaq was weak again as new money is pouring in Financials & Infrastructure related stocks. Oil agreement from both OPEC & Non OPEC countries took pundits by surprise, they got their exit from bearish position with some help. I expect energy stocks to outperform to reflect new pricing and profitability. I would recommend heavy weighting towards base metals, energy and financials to reflect a shift in investing thesis.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
Sold OCLR @ 8.62
I am nervous enough about the Chinese percentage of sales to not participate here. I made a little profit, so that's a good thing :)
Stocktrader
Hi Stocktrader,
Like Marty Zweig, it's good to be nervous and book profit.
Saleem
Hi Saleem,
Bought speculative position in NEFF @ 14.35
After it has rested a while and RSI is finally under 70, I thought I'd try it again. I think it will be hard for institutions to sell going into year end, so it might continue to float higher, especially as it seems there is some bipartisan agreement on infrastructure spending.
Stocktrader
Hi Stocktrader,
Had to step out, so gave couple of orders......but it ended being relatively bad swap...although both profitable......
Sold CNQ @ $34.35
Bought BAC @ $22.41......
Although ended up with more shares of BAC......
Saleem
Hi Stocktrader,
Saw your buy of NEFF...good luck.....
I have too many base metals already.....
Looking for 1 more buy........may add in AMD...
Saleem
Hi Saleem,
Trimmed PI @ 34.65 to take some profits.
Stocktrader
Hi Stocktrader,
Good move in PI.....i like this stock, its in my short list.
Saleem
Hi Saleem,
It was the first decent discount in BAC in a long time. Nice way to take advantage!
Stocktrader
Hi Stocktrader,
Have been monitoring BAC closely for a week, liked the price so much that i booked profit in CNQ....my perpetual winner.
Added 115% AMD @ $10.65....
Saleem
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