Wednesday, January 19, 2022

Indices closed down .96% to 1.15%....

 Indices closed down

S&P 500 @ 4532.76, 4530.20, high 4611.55

RSI @ 34.92

CMF @ 0.034

Internals were :

Down volume led by 2.31 to 1 in NYSE & 2.07 to 1 in Nasdaq

Declining stocks led by 2.06 to 1 in NYSE & 2.09 to 1 in Nasdaq

Net new lows were leading by 364 in NYSE & 742 in Nasdaq

VIX UP 4.65% @ 23.85

Oil @ $86.96

Gold @ $1843.20

Canadian $ @ .7494

In my portfolio :

Bought MGM @ $42.80

Added 20% BTCC.TO @ $8.53

Portfolio HST BTCC SNAP MGM NCLH RIOT UAL

Stocks which closed green included AFRM AG CCJ

TECK M BMBL PAAS CNQ DASH BIDU GOLD

MSFT PANW PENN NEM KL MTCH CRWD

PDD FB AEM SPLK NFLX SOFI JKS LVS 

TWTR SLI MS TOU.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE scared lot of traders by opening higher & closing @ low of the day, but we needed another day like this to flush out more bulls. There are lot of indicators which IS telling me that we have just about completed this correction. VIX was tame considering, Internals were not extreme, many stocks seems to have found support. Do not be surprised IF we close UP on Thursday.....

BLOG does NOT give buy or sell.

Saleem

5 comments:

  1. Hi Saleem,

    Good luck with MGM and more BTCC!

    The selling has been relentless - hopefully abates soon...

    Stocktrader

    ReplyDelete
  2. Hi Saleem,

    Sentiment has gotten extreme...

    https://www.aaii.com/sentimentsurvey

    Stocktrader

    ReplyDelete

  3. Hi Stocktrader,

    In my BLOG last night
    I gave my factual reasons
    for a rally / positive close
    for today....not isoteric reasons...

    Saleem

    ReplyDelete
  4. Hi Saleem,

    It definitely feels like bottoms are trying to be formed...

    Sold ESTC @ 89.09 as profitability remains elusive

    Added to PINS @ 32.67
    Added to VERI @ 17.24
    Added to UPST @ 112.14
    Added to CXM @ 12.13

    Stocktrader

    ReplyDelete

  5. Hi Stocktrader,

    Good luck with more PINS, VERI, UPST & CXM

    Saleem

    ReplyDelete