Indices closed UP.
S&P 500 @ 2337.58, high 2337.58, low 2322.17
RSI @ 75.37
RSI @ 0.347
Internals were :
UP volume led by 1.83 to 1 in NYSE & 1.76 to 1 in Nasdaq
Advancing stocks led by 1.09 to 1 in NYSE & 1.31 to 1 in Nasdaq
Net new 52 wk highs were leading by 207 in NYSE & 167 in Nasdaq
VIX Down 2.98% @ 10.74
Oil @ $53.20
Gold @ $1225.40
Stocks which were UP 1% or more included CNQ OCLR
PI BAC VRX C CHK CMG OLED TWTR UA AAPL
LULU JKS CSIQ FSLR SPWR SINA DNKN TK
RIG FEYE MS GS AGU CSOD KORS OPK
CNX.....
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE continued its march to daily new all time highs, Fed chief comment of raising rates in March was taken as positive, thus financials rallied.Dow & S&P 500 closed @ absolute high of the day while Nasdaq missed it by less than 1 point. This strength in TAPE is unprecedented, it is better to be over allocated in equities.Most sectors are working on a rotation basis.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Good luck with CY!
Our TECK is interesting, met coal prices have really crashed this year so far...I'll be looking more into it and how that affects my valuation perspective.
Bought HUN @ 21.97
I flirted with this trade weeks ago and didn't buy, missing out on 10% in the process. That said, they appear to be on a nice track still and I think there's at least another 10% upside after today's quarter and on-track spinoff of TiO2 business which has been booming (see Chemours(CC)).
Stocktrader
Hi Stocktrader,
Good luck with HUN.
TECK is dealing with inventory issue.
Saleem
Hi Saleem,
Sold ZYNE @ 23.52 to take profits.
Stocktrader
Hi Stocktrader,
Excellent strategy with ZYNE. .. $$$$/
Saleem
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