Indices closed down,
S&P 500 @ 2917.38, low 2916.01, high 2946.52
RSI @ 57.81
CMF @ -0.042
Internals were :
Down volume led by 2.78 to 1 in NYSE & 2.15 to 1 in Nasdaq
Declining stocks led by 2.01 to 1 in NYSE & 1.77 to 1 in Nasdaq
Net new 52 wk highs were leading by 96 in NYSE & lows by 54 in Nasdaq
VIX UP 6.68% @ 16.28
Oil @ $57.83
Gold @ $1418.70
AH news....MU UP 8.63%, TER UP 5.39%
RUN Down 6.12%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE ran into pessimism after Fed chief toned down expectations about interest rate cuts by saying it cannot be politically driven. There is lot of apprehension about weekend G 20 meeting between China & US head of state. This weekend also will see resumption of trade negotiations between US & China. All in all lot of issues for market to handle, market hates uncertainty.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Sold URI @ 131.12
I am having a hard time finding a thesis for an economically sensitive stock right now despite how much I love the managemeent and the company here. Construction seems weaker than it should be given the favorable rate backdrop.
Stocktrader
Hi Saleem,
Bought RUBY @ 14.98
I saw an analyst note today that really highlighted the platform potential for this red-blood cell focused biotech company. We'll see how it goes.
Stocktrader
Hi Saleem,
Sold DAL @ 56.07 on soaring gasoline prices.
Stocktrader
Hi Stocktrader,
Good luck with RUBY.
Saleem
Hi Saleem,
Bought MPC @ 53.49 on the breakout and competitor refinery shutdown.
Stocktrader
Hi Stocktrader,
Good luck with MPC....
Saleem
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