Indices closed mixed.
S&P 500 @ 2738.31, high 2744.27, low 2717.94
RSI @ 45.87
CMF @ -0.062
Internals were :
UP volume led by 2.35 to 1 in NYSE & .99 to 1 in Nasdaq
Advancing stocks led by 1.80 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk lows were leading by 45 in NYSE & 23 in Nasdaq
VIX UP 2.3% @ 19.96
Oil @ $63.10
Gold $1232.30
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE surprised most participant by being green in DOW & S&P 500, Nasdaq also recovered majority of losses and closed near high of the day. Tuesday could be a choppy day due to US mid term election, a positive close will be a confidence builder. Internals reflected mixed market but it was pretty close to being flat even on Nasdaq.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
This collapse in oil is really making me wonder if I should move back into my growth stocks. If the stock market is finally sniffing the global slowdown, with oil being a key indicator to wake the market up about that, we could have the goldilocks scenario again for growth where the Fed has to get easier and money flows back into the only growth out there.
For now I will wait, but I am getting a bit more excited now--this is what I've been waiting for :)
Stocktrader
Hi stocktrader,
Low oil and gridlock is a good thing for stock market....
By 10 PM eastern we should have confirmation of both......
Good luck with your rethink!
Saleem
Hi Saleem,
Bought VRNS @ 59.46
Bought SAIL @ 25.46
Getting back a little exposure as the energy collapse makes growth stocks more attractive and I think could make the Fed more balanced going forward.
SAIL does report tonight after the bell which I realized after I bought it--I'm not sure I want the big exposure into that event, but I'll see how things go before close.
Stocktrader
Hi Saleem,
Bought APPN @ 27.27
This company had a good report last week, and has acted well in the last month while the Nasdaq crashed, as well as showing good strength this week when many high growth cloud/software stocks have been weak.
Stocktrader
Hi Saleem,
Bought CSOD @ 49.56
It's a name I had lined up ahead of earnings and I think it's safe to enter here.
Stocktrader
Hi Stocktrader,
Great entry on bargain stocks.....
Good luck with VRNS SAIL APPN CSOD....
Good luck with SAIL earnings tonight.....
Saleem
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