Indices closed down.
S&P 500 @ 2776.42, low 2768.64, high 2807.54
RSI @ 77.63
CMF @ 0.226
Internals were :
Down volume led by 2.02 to 1 in NYSE & 1.79 to 1 in Nasdaq
Declining stocks led by 2.04 to 1 in NYSE & 2.18 to 1 in Nasdaq
Net new 52 wk highs were leading by 359 in NYSE & 399 in Nasdaq
VIX UP 14.76% @ 11.66
Oil @ $63.73
Gold @ $1337.10
AH news...JUNO UP 42.76%, BWLD Down 6.35%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE started very strong by making a new all time highs in Dow, S&P 500 and Nasdaq, Dow was UP 283 @ high of the day but went down 100 points @ low of the day, but closed down only 10 points. Today was a profit taking day, buyers came in @ low of the day again. This pullback was a welcome news as froth was taken out in a hurry, VIX jumped to a reasonable 11.66 area, lot of room for bullish action.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Saleem and stocktrader,
Bought CELG @ 102.34. A small position. Gradually getting back to the market. I must regain my confidence to be successful. GL to everyone.
Joseph
Hi Saleem,
Bought heavy TNA @ 75.87
I used the rest of my cash to initiate this position. Small caps, being the main beneficiary of the tax plan and improving economy, are not even close to overbought conditions like the rest of the market. I hate to go for "market timing" trades, but I thought this was a good opportunity.
Stocktrader
Hi Joseph,
Nice snag of CELG near the lows of the days. Good luck on the trade!
Stocktrader
Hi Joseph,
Good timing on CELG.
Good luck $$$$$
Saleem
Hi Stocktrader,
Good luck with TNA...
Saleem
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