Indices closed mixed.
S&P 500 @ 2590.64, low 2584.35, high 2597.02
RSI @ 71.11
CMF @ 0.191
Internals were:
Down volume led by 1.54 to 1 in NYSE & 1.10 to 1 in Nasdaq
Declining stocks led by 1.39 to 1 in NYSE & 2.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 101 in NYSE & 73 in Nasdaq
VIX UP 5.21% @ 9.89
Oil @ $57.20
Gold @ $1275.80
AH news...JNPR UP 16.12%, AAOI UP 4.54%
SNAP Down 17.13%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE reversed after opening higher & making new all time high on Intraday basis, Dow closed green. Internals were negative today for the most part. PCLN & TRIP caused the most damage on poor earnings report. Again we must watch how we close, to get the direction right in this overbought environment.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Sold ORCL @ 50.42
After a good bounce from the post-earnings selloff, I think the company needs to prove itself before it can gain more traction.
Bought EMN @ 90.42
An extremely well run chemical company that hasn't seen a significant amount of price movement yet. With a focus on the specialty chemicals part of the business, I think these guys can continue to drive growth, and trade at an attractive valuation.
Stocktrader
Hi Saleem,
Added a little to BAC @ 26.70
I always had a nagging feeling I was too underweight banks and this should help some.
Stocktrader
Hi Saleem,
Added a tiny bit to OPTN @ 19.50 with my remaining cash.
Stocktrader
Hi Stocktrader,
Good luck with EMN, more BAC & OPTN.
Saleem
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