Indices closed down.
S&P 500 @ 2905.97, low 2903.28, high 2931.15
RSI @ 56.31
CMF @ 0.003
Internals were :
Down volume led by 2.39 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by 1.59 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk lows were leading by 51 in NYSE & 0 in Nasdaq
VIX UP 3.78% @ 12.89
Oil @ $71.57
Gold @ $1199.10
Stocks which were UP 1% or more included BZUN FB HEXO.TO
TLRY IQ BILI NFLX TSLA YY MGA SINA OSTK IBM M....
AH news....BBBY Down 14.25%, CMTL Down 11.92%
AH Futures UP
AH Asian Markets Mixed
Oil & Gold UP
About market, TAPE was @ its high right after fed minutes were released, by close indices were lower @ close. Hopefully there will be a rethink about Fed policy and conference call. Internals were all negative. Strong stocks should do well going forward.
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hi Explorer,
I think the IPOs today of ARVN, STRO, and UROV all could have opportunity to pop from my expected opening prices of high, middle, and muted respectively today. I'm skipping RMED because I think it will open too hot and I'm not super excited about the business.
Stocktrader
Hi Explorer,
Oops, forgot about LAIX. It is interesting also, but I have less idea of how it might trade given the Chinese nature, although it should pop too if the open is quiet enough.
Stocktrader
Hi Stocktrader,
Thank you for the note. I’ll watch them
Explorer
Hi Saleem & Stocktrader,
Bought some NOV LULU calls for the breakout
Explorer
Hi Explorer,
Good luck with LULU calls...
Saleem
Hi Explorer,
Good luck with the LULU calls.
Stocktrader
Hi Saleem,
Sold LQDA @ ~28.20 to take profits
Sold VCEL @ 14.15 to take profits
I am getting more nervous about the Fed continuing to raise interest rates and how that might affect speculative stocks. The performance of many of the IPOs today is lackluster at best.
Stocktrader
Hi Stocktrader,
Good luck with your strategy.
Saleem
Hi Saleem,
Sold APPN @ 33.72 on weak relative strength
Stocktrader
Hi Saleem,
Sold MTCH @ 58.66 to take profits
Stocktrader
Hi stocktrader,
Good moves in booking profit and selling weak stock.
Saleem
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