Indices closed down.
S&P 500 @ 2506.96, low 2488.96, high 2585.29
RSI @ 28.35
CMF @ -0.070
Internals were :
Down volume led by 3.40 to 1 in NYSE & 4.65 to 1 in Nasdaq
Declining stocks led by 2.58 to 1 in NYSE & 2.93 to 1 in Nasdaq
Net new 52 wk lows were leading by 1161 in NYSE & 810 in Nasdaq
VIX unchanged @ 25.58
Oil @ $47.20
Gold @ $1256.40
Stocks which closed green included ESTC PANW TK
LNG YELP MLNX ORCL OSTK....
AH news....TLRY UP 14.56%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE anticipated and greeted Fed hike and statement with predictable moves, before UP 350 points on DOW then lost that then moved UP almost 300 points then lost that and closed down 351 points after being down 500 points prior to close. IF you listen to market vs how technicians and traders felt, it was a classic case of market being right. My interpretation of market and TAPE is Fed have it perfect that resulted in TAPE recovering from 500 loss and closing @ 351. Noticed VIX was unchanged on such a bad decision by Fed, VIX disagrees and I agree with VIX & FED.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Saleem,
I reduced some exposure in charts that were failing:
Sold HUBS @ 122.41
Sold PYPL @ 83.90
Sold PLAN @ 24.32
Stocktrader
Hi Saleem,
Sold VICR @ 34.82
Sold APPN @ 26.06
Stocktrader
Hi Stocktrader,
Bought AMD @ $18.60.
Good luck with your strategy.
Saleem
Hi Saleem,
Sold COUP @ 60.67
Stocktrader
Hi Saleem,
Good luck with AMD.
Stocktrader
Hi Saleem,
Bought TENB @ 21.99
I think it already took its pain, and valuation is supported here. There's 10% more downside possible if the market keeps falling though.
Stocktrader
Hi Saleem,
Bought HUBS @ 115.72
Bought APPN @ 24.49
Buying back some names after an intraday 5%+ drop.
Stocktrader
Hi Saleem,
Bought VICR @ 34.47
It just refuses to drop and does have a bright future. Maybe investors are looking behind this weak patch towards that.
Stocktrader
Hi Stocktrader,
Today looks like "final flush on optimum fear "
Good luck with HUBS APPN VICR TENB
Yes....today could be bottom for stocks and market....
Saleem
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