Indices closed down.
S&P 500 @ 2496.66, low 2488.03, high 2502.54
RSI @ 59.18
CMF @ 0.372
Internals were :
UP volume led by 1.39 to 1 in NYSE & .73 to 1 in Nasdaq
Advancing stocks led by 1.29 to 1 in NYSE & .79 to 1 in Nasdaq
Net new 52 wk highs were leading by 126 in NYSE & 85 in Nasdaq
VIX UP 6.47% @ 10.21
Oil @ $52.22
Gold @ $1311.50
AH ER...RHT UP 3.35%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was in selling mode thanks to US North Korea "sabre rattling"...when this war of words will end nobody knows. In the meantime High Frequency Traders have shifted their risk to low beta stocks and drowned high beta in biggest slump in a long time. Nasdaq suffered the most whole day and went below 50 DMA intraday, but closed slightly above. Patience and conviction is tested in times like these.
BLOG does NOT give buy or sell.
Saleem
8 comments:
Hi Saleem,
Sold WUBA @ 60.04
Stocktrader
Hi Saleem,
Sold FSLR @ 45.91
Getting rid of my lower conviction stocks or failed trades, and raising cash for opportunities to add to existing positions or new ones.
Stocktrader
Hi Stocktrader,
Good luck with new ideas!
Saleem
Hi Saleem,
Sold SWN @ 6.15
Stocktrader
Hi Saleem,
Sold BAC @ 24.72
Sluggish trading results, loan demand, and a flatter yield curve could all weigh on the banks' earnings this quarter. After the nice run from the lows a few weeks ago, I'll step to the sidelines.
Stocktrader
Hi Stocktrader,
Looks like a sell, sell sell day.....
Good luck with your strategy!
Saleem
Hi Saleem,
Added to SPLK @ 67.55
This created a substantial overweight for me in this position, but it probably my favorite play into year end due to a long-term chart consolidation that should turn into a breakout.
Stocktrader
Hi Stocktrader,
Good luck with more SPLK.
Saleem
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