Wednesday, February 28, 2018

Indices closed down .78% to 1.50%.....

Indices closed down.

S&P 500 @ 2713.83, low 2713.54, high 2751.62

RSI @ 48.07

CMF @ -0.124

Internals were :

Down volume led by 4.48 to 1 in NYSE & 2.21 to 1 in Nasdaq

Declining stocks led by 2.55 to 1 in NYSE & 2.65 to 1 in Nasdaq

Net new 52 wk lows were leading by 88 in NYSE & 11 in Nasdaq

VIX UP 6.78% @ 19.65

Oil @ $61.64

Gold @ $1317.90

Stocks which closed green included SNAP SQ
JD BIDU SHOP AMZN CSIQ JKS EXPE
LULU MRVL MU NFLX SBUX SINA
TRIL TWTR YUM TRIP CRUS ULTA
M PANW CNX.....

AH news....MNST Down 6.11%, BOX Down 13.22%

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold Down

About market, TAPE slumped in the last hour and closed @ low of the day, S&P 500 and Dow both closed below 50 DMA, Nasdaq is still above 50 DMA which gives some hope, IF history is any guide, then Nasdaq may join in going below 50 DMA also. It is very important to look @ your exposure in this environment, stay with high conviction stocks.

BLOG does NOT give buy or sell.

Saleem

6 comments:

joseph said...


Hi Saleem and stocktrader,

Added TNA @ 64.90.

Joseph

Stocks100 said...

Hi Joseph,

Good luck with more TNA.

Saleem

Stocks100 said...

Hi Stocktrader and Joseph,

Sold NTES @ $ 291.00

Added 120% SNAP @ $17.30

Saleem

stocktrader_1996 said...

Hi Joseph,

Nice TNA add! I was very tempted this morning but passed because it looked more like a short term trade which I was trying to avoid.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Good luck with the swap!

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold MOMO @ 33.23

This remains a "show me" story, so I'll use this opportunity to take profits as it has dropped back below the 200 DMA.

Stocktrader