Monday, November 30, 2020

Indices closed down .06% to .91%....

 Indices closed down.

S&P 500 @ 3621.63, low 3594.39, high 3634.18

RSI @ 61.19

CMF @ 0.113

Internals were :

Down volume led by 3.68 to 1 in NYSE & .61 to 1 in Nasdaq

Declining stocks led by 2.21 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new 52 wk highs were leading by 248 in NYSE & 280 in Nasdaq

VIX Down 1.39% @ 20.57

Oil @ $45.34

Gold @ $1780.90

Canadian $ @ .7016

In my portfolio :

Sold JWN $25.50

Sold RIDE $24.76

Bought MGM @ $27.70

Added 40% CCL @ $20.49

Portfolio AAL APA CCL CNX MGM SU

Stocks which were UP 1% or more included MRVL AG GOLD

RXT INTC QRVO DADA DOCU ZI PLAN SHOP KL ROKU 

ZM CRWD DDOG NVAX LITE UPS MRNA AAPL QCOM

XLNX LULU NVDA AEM CRUS OLED AMD SWKS MSTR

ACB.....

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was digesting huge gains in restart stocks despite MRNA vaccine news of quick availability. Most technology stocks did well and Nasdaq was green until last hour of trading. These bouts of sharp pullbacks must be viewed in terms of how much energy stocks gained in November alone about 50%, so after today's sharp pullback, it is still UP a whopping 42% minimum. Please do not react or change your thesis on restart stocks, they have only started and may recoup today's loss in short order.

BLOG does NOT give buy or sell.

Saleem

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