Indices closed down.
S&P 500 @ 2818.37, low 2802.49, high 2827.95
RSI @ 50.57
CMF @ 0.003
Internals were :
Down volume led by 3.50 to 1 in NYSE & 4.46 to 1 in Nasdaq
Declining stocks led by 2.25 to 1 in NYSE & 3.10 to 1 in Nasdaq
Net new 52 wk lows were leading by 243 in NYSE & 130 in Nasdaq
VIX UP 9.99% @ 14.64
Oil @ $65.01
Gold @ $1185.00
AH news...WUBA UP 5%, CSCO UP 6.22%
DISH Down 3.15%, NTAP Down 4.21%
AH futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was under intense selling pressure worldwide again, indices closed half way from low to high. Chinese stocks may have found support after reacting badly to Tencent's earnings report which missed expectations'and brought all Chinese stocks to recent lows. Hopefully we may have seen lows in markets and many stocks.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Doubled my position in MU @ 47.61
Looking to increase my stakes in conviction names during a more uncertain time and because I'll soon be completely out of internet range for a while.
I think fears of a memory total collapse are overblown, and worst case scenarios already priced in. MU's huge buyback should be in play right now creating explosive upside when positive catalysts arrive.
Stocktrader
Hi Saleem,
Added to TZA @ 8.65
Stocktrader
Hi Saleem,
Doubled positions in PANW @ 211.18 and SPLK @ 104.18 going along with my earlier theme of sticking with highest comfort and conviction names.
Stocktrader
Hi Stocktrade,
Good luck with Doubling in MU, TZA , PANW & SPLK....
Saleem
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