Indices closed down.
S&P 500 @ 3918.32, low 3908.70, high 4017.81
RSI @ 39.05
CMF @ -0.041
Internals were :
Down volume led by 12.85 to 1 in NYSE & 3.72 to 1 in Nasdaq
Declining stocks led by 5.12 to 1 in NYSE & 3.83 to 1 in Nasdaq
Net new lows were leading by 70 in NYSE & 237 in Nasdaq
VIX UP 18.32% @ 22.61
Oil @ $75.72
Gold @ $1834.60
Canadian $ @ .6218
In my portfolio :
Sold LCID @ $8.02
Added 30% AI @ $22.92
Portfolio ARKK AI SHOP
Stocks which closed green included
PYPL GE AG CCJINTC
DHI VICR AEM CMG....
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE slumped on regional bank liquidity issue, mainstream banks also hit the skids with related concern about liquidity and inverted yield related concern. This was a reaction to broad based impact of Fed aggressive policies, nobody can predict far reaching effect of any policies. This IS what a deeply oversold market looks like, relentless selling from nowhere puts fear in all market participants. BUT there is jobs report @ 830 AM which should cut through one sided negativity and we may see green by close.
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteGood luck with more AI!
This seems a serious problem for the tech industry, both immediate term and longer term. I'm trying to understand the full implications for the economy and my stocks.
Stocktrader
Hi Saleem,
ReplyDeleteSold IONQ @ 4.50 to reduce tech exposure
Stocktrader
Hi Saleem,
ReplyDeleteSold SYM @ 17.10 avg for same reasons
Stocktrader
Hi Saleem,
ReplyDeleteSold BLNK @ 7.80
Sold TOST @ 17.21
Relatively weak, money losing companies, seem particularly vulnerable here.
Stocktrader
ReplyDeleteHi Stocktrader,
Good idea to increase your comfort level with regional bank crisis......contagion?
Saleem