Thursday, January 3, 2019

Indices closed down 2.48% to 3.04%.....

Indices closed down.

S&P 500 @ 2447.89, low 2443.96, high 2493.14

RSI @ 36.60

CMF @ -0.210

Internals were :

Down volume led by 2.06 to 1 in NYSE & 2.24 to 1 in Nasdaq

Declining stocks led by 1.39 to 1 in NYSE & 2.28 to 1 in Nasdaq

Net new 52 wk lows were leading by 45 in NYSE & 48 in Nasdaq

VIX UP 9.60% @ 25.45

Oil @ $47.09

Gold @ $1294.80

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE took it on the chin on AAPL lowered Sales guidance and poor manufacturing data in US. @ 8.30 AM it is all about jobs report, expectations are for 180 K, these are very volatile numbers and cannot be relied in terms of accuracy, always being adjusted UP or Down depending on their confusing counting. There is only a closing BLOG on Friday's around 7 PM.

BLOG does NOT give buy or sell.

Saleem

8 comments:

Stocks100 said...

Hi Stocktrader,

Bought FEYE @ $15.80 in pre market

Saleem

stocktrader_1996 said...

Hi Saleem,

Good luck with FEYE. Goldman Sachs downgraded FTNT and CYBR this morning.

I am very afraid of this jobs number, I'll be doing some selling today.

Stocktrader

stocktrader_1996 said...

Hi Saleem,

Sold everything except LQDA ORTX TRIL which are pretty illiquid.

I've been very confused with the price action in my stocks this year, and this jobs numbers has me concerned about the path of the Fed. I'm stepping to the sidelines until I can figure everything else.

Stocktrader

Stocks100 said...


Hi Stocktrader,

Good luck with your strategy....

Saleem

stocktrader_1996 said...

Hi Saleem,

So far I've gotten the direction of every day wrong this year. I thought the first two days with China growth fears would benefit my US-centric growth stocks, especially as rates expectations were falling. Today, with a strong jobs number and some future China trade meetings, with rates rising, I thought the growth stocks would be weak, hence my selling. I am apparently very confused and so have to step aside for now, even as this big rise in many of my stocks hurts my feelings lol.

Stocktrader

Stocks100 said...

Hi Stocktrader,

When markets are deeply deeply oversold good news is good news and bad news is also good news....plus Powell is promising " patience " which means no rise in interest rates with this blowout jobs data...

So " unconfuse yourself " and do your keyboard hardwork. ...

Saleem

stocktrader_1996 said...

Hi Saleem,

I guess that cuts to the core of the dilemma though...is this just an oversold bounce in an environment that will continue to see problems? or is this the start of the new uptrend? For now, I feel like we have more shoes to drop with a Fed that leans too hawkish despite today's remarks and late-cycle inventory and economic problems.

I don't even know that earnings guidance will help make my decision because I think companies are potentially still too optimistic about their own businesses even if they think the overall economy is showing some cracks, so I don't know where that leaves me...

Either way, I think this market will continue to see a push/pull scenario of headlines, so there's probably better opportunities ahead than today. I fear this jobs report entrenches Trump's stubborn positioning on both the budget and trade talks, so maybe another opportunity comes there.

My brain is scrambled...

Stocktrader

Stocks100 said...


Hi stocktrader,

Great pros and cons analysis, which is the case everyday in the entire history of Stock market, never an all clear ever...

We always handicap or put odds of or place a bet daily...

Your coin seems to be stuck in give me more confidence mode.....

Saleem