Indices closed mixed.
S&P 500 @ 3190.14, low 3181.49, high 3223.27
RSI @ 68.41
CMF @ 0.255
Internals were :
Down volume led by 5 to 1 in NYSE & 1.36 to 1 in Nasdaq
Declining stocks led by 2.24 to 1 in NYSE & 1.86 to 1 in Nasdaq
Net new 52 wk highs were leading by 86 in NYSE & 136 in Nasdaq
VIX @ 27.57
Oil @ $39.60
Gold @ $1720.70
Canadian $ @ .6608
In my portfolio :
Bought MGM @ $22.55 & 70% more @ $20.85
Bought ROKU @ $114.49
Bought CGC @ $17.98
Sold GOLD @ $24.99
Portfolio CGC CIEN CNX MGM ROKU SU
Stocks which closed green included ROKU GOLD
ZM CRWD DDOG CRON JD PINS SQ AMD
TER MSFT AAPL DHI PHM JKS QCOM
BYND LULU BZUN NVDA TSM TWLO
TSLA NEM AEM AMZN SPLK BABA
FFIV MA OSTK V.....
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was mixed but Nasdaq kept going UP and closed well above 10 k @ 10020.35 a new all time high and closing high. Fed policy statement came out as expected, thus market has discounted all the liquidity driven impact on stocks and market, market is fully valued based on Fed policies. Easy money has been made and a digestive phase of market has started as of 2 days ago. Only savior in this environment is RSI numbers which has been ignored and made no difference so far....BUT not anymore, so please pay attention and act accordingly, it is a normal market now where overbought matters.
BLOG does NOT give buy or sell.
Saleem
9 comments:
Hi Stocktrader,
Added 60% MGM @ $17.50....high conviction stock for me ...in pre market!
Saleem
Hi Saleem,
Good luck with MGM!
Sold MTCH @ 85.35
Bought PLAN @ 43.92
Switching to my more conviction names on the dip.
Stocktrader
Hi Stocktrader,
Good luck with PLAN!
Saleem
Hi Guys,
Market is brutal today.
Sold XELB @ 1.11
Sold VSTM @ 1.75
Added to PLAN @ 44.21
Bought LVGO @ 58.55
Bought KRA @ 15.24
Added to PSNL @ 12.10
Reduced exposure to penny stocks and switched to growth stocks on pull-back.
Lets see if the recoups some of the losses.
Thanks
Paramjeet
Hi Paramjeet,
Good luck with your strategy.
Good luck with LVGO, KRA, PSNL and more PSNL...
Saleem
Hi Paramjeet,
I like the rotation to strong, long-term growth stocks. Good luck with the moves!
Stocktrader
Hi Paramjeet,
I am tempted by KRA also here, but I'm not sure what to sell to raise cash.
Stocktrader
Hi Guys,
ALT was the life savior today. Overall, a pathetic close.
Bought CGC @ 15.91
Bought HEPA @ 1.99
I wonder this correction was warranted with RSI in overbought zone.
It takes an obvious news to take market down (re-occurance of COVID and Fed talk) which was up a few days back with the same news floating around. Go figure..
Thanks
Paramjeet
Hi Paramjeet,
Good luck with the new positions.
I'm not sure what to expect from here, and in these cases, conviction names are key.
Stocktrader
Post a Comment