Indices closed UP.
S&P 500 @ 2468.11, high 2474.93, low 2463.86
RSI @ 53.84
CMF @ 0.111
Internals were :
UP volume led by 1.42 to 1 in NYSE & 1.59 to 1 in Nasdaq
Advancing stocks led by 1.52 to 1 in NYSE & 1.23 to 1 in Nasdaq
Net new 52 wk lows were leading by 11 in NYSE & 32 in Nasdaq
VIX Down 2.49% @ 11.74
Oil @ $46.78
Gold @ $1282.90
Stocks which were UP 1% or more included WB BABA OLED
MU VRX TWTR CY GG TECK ABX KGC GG AEM SINA
EXPE FEYE YELP SNAP SHOP SPLK ULTA KBH X
PANW LRCX......
AH ER....VIPS Down 8.02%, LB Down 5.46%
CSCO Down 2.50%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE tried to ignore POTUS remarks and Fed minutes, but in the end it closed barely green. Fed minutes were extremely bullish for the market, as interest rate hike is far far away. Internals were mostly positive but CMF is heading down daily. BABA reports before open, its reaction may set the tone for rest of the day.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem,
Sold BAC @ 23.86
I think we could be in for a serious governmental crisis, or at least need to protect against that. I'll be making a few more portfolio moves here.
Stocktrader
Hi Saleem,
Bought a load of TZA @ 17.64
I'm not good at market timing, but I'm really nervous now so I feel the hedge is very appropriate.
Stocktrader
Hi Stocktrader,
Good luck with TZA. ..it's all about your comfort level with TAPE.
Saleem
Hi Saleem,
Sold TCMD @ 33.33 to take profits.
It's a company I'm not perfectly familiar with yet and it could drop a lot in a "risk off" scenario.
Sold ALRM @ 42.23 to take profits.
Same as TCMD pretty much, new company for me, high RSI.
Stocktrader
Hi Stocktrader,
Good move in booking profit and reducing exposure plus buying protection....this 3 prong strategy should work.
Saleem
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