Indices closed UP.
S&P 500 @ 2270.74, high 2272.82, low 2261.60
RSI @ 62.93
CMF @ 0.099
Internals were :
UP volume led by 5.77 to 1 in NYSE & 4.41 to 1 in Nasdaq
Advancing stocks led by 5.84 to 1 in NYSE & 3.44 to 1 in Nasdaq
Net new 52 wk highs were leading by 212 in NYSE & 151 in Nasdaq
VIX Down 7.78% @ 11.85
Oil @ $53.26
Gold @ $1165.30
Stocks which were UP 2% or more included BIDU FCX TECK
AKS X NVDA VRX OLED TWTR UA LVS WYNN LULU
COH LEN QRVO TSLA YHOO SINA WB TK FEYE
BABA YELP SPWR CTRP AGU TRIP DATA MGA
SWIR CNX......
AH news.... M Down 10.85% , KSS Down 150.9%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong again today and confirmed this rally. Internals were super strong. Indices closed near high of the day. All this momentum is showing UP in individual investors survey which is flashing caution tonight, bulls are 60% and bears only 18%. Booking of profit must not escape your focus. Many stocks are extended and some are real bargain, thus a swap may be a safe strategy.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
PI getting back into buy range. I am tempted to start another position despite the huge lockup coming later this month.
I really slept on the NVDA story over the last year. Their presentation at CES last night made me realize how important emerging trends like AI really are. I'll be watching this although it looks like a bubble bursting right now.
Stocktrader
Hi Stocktrader,
Have been monitoring PI ever since your entry.
It is making lower lows, which tells me that it is being shorted ahead of lockup expiry.
I could buy PI today...have to check chart first.
NVDA is ahead of curve AMD is playing catchup....AI has a long way to go.
Saleem
Hi Stocktrader,
Bought PI @ $31.85
Saleem
Hi Saleem,
Good luck with PI--it treated me well when I had it :)
Stocktrader
Post a Comment