Monday, January 30, 2017

Indices closed down .60% to .83%......

Indices closed down.

 S&P 500 @ 2280.90, low 2268.04, high 2286..01

 RSI @ 56.44

 CMF @ 0.201

 Internals were :

 Down volume led by 3.53 to 1 in NYSE & 2.39 to 1 in Nasdaq

 Declining stocks led by 2.36 to 1 in NYSE & 3.26 to 1 in Nasdaq

 Net new 52 wk highs were leading by 20 in NYSE & 11 in Nasdaq

 VIX UP 12.29% @ 11.88

 Oil @ $52.63

 Gold @ $1196.00

 AH ER..SANM UP 10.87%, RMBS Down 5.44%

 AH Futures Down

 AH Asian Markets Mixed

 AH Oil & Gold UP

 About market, TAPE was under selling pressure on reaction to immigration executive orders, we erased half of the losses by close. CMF actually rose to the highest level in 6 weeks in all major indices, a sign of buying interest.Hopefully, Tuesday close will be positive. This TAPE is very strong and wants to go higher on upcoming tax, infrastructure and deregulation changes. Judicious buying should pay off nicely.

 BLOG does NOT give buy or sell.

 Saleem

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4 comments:

  1. stocktrader_1996January 31, 2017 at 6:40 AM

    Hi Saleem,

    Sold TNA @ 98.77 to reduce exposure and taking a small profit

    Stocktrader

    ReplyDelete
  2. Stocks100January 31, 2017 at 7:04 AM

    Hi Stocktrader,

    Good move with TNA sale....you can buy it back cheaper even today?

    Saleem

    ReplyDelete
  3. stocktrader_1996January 31, 2017 at 7:49 AM

    Hi Saleem,

    With uncertainty seeming to grow, I think I'm better off not trying to make a market call and instead just sticking to stock picking. If something because very compelling, I have more cash now also :)

    Stocktrader

    ReplyDelete
  4. Stocks100January 31, 2017 at 9:27 AM

    Hi Stocktrader,

    Yes...stock picking has much higher comfort level.

    Saleem

    ReplyDelete