Indices closed down @ low of the day.
S&P 500 @ 4404.33, low 4403.55, high 4449.95
RSI @ 38.32
Internals were :
Down volume led by 3.13 to 1 in NYSE & 1.05 to 1 in Nasdaq
Declining stocks led by 3.36 to 1 in NYSE & 2.68 to 1 in Nasdaq
Net new lows were leading by 111 in NYSE & 239 in Nasdaq
VIX UP 1.94% @ 16.78
Oil @ $79.38
Gold @ $1922.00
Canadian $ @ .6479
Portfolio SHOP BTCC
Nasdaq high volume selling is of major concern plus going deeper below 50 DMA, support may be many % below.....
BLOG does NOT give buy or sell.
Saleem
Hi Saleem,
ReplyDeleteBought IONQ @ 13.62
A number of recent announcements makes the outlook more attractive despite the tough rate backdrop. They might still raise cash, but I think the institutional appetite for the shares will continue to grow.
I technically have no cash remaining but still have the large TZA hedge on the small caps (27% of portfolio). I anticipate that I am somewhat net-long at these levels but believe mostly in certain stocks versus thoughts the whole market has bottomed, although we have worked off a significant amount of sentiment and price positivity with this multi-week decline.
Stocktrader
ReplyDeleteHi Stocktrader,
Good luck with a good stock IONQ.....
Market may bottom around 200 SMA +- slow torture to 200 DMA...
Seen it too many times.....
Saleem
ReplyDeleteHi Stocktrader,
Sold 50% SHOP @ $52.99
Bought AI @ $29.80
Bought PLTR @ $14.16
Saleem
Hi Saleem,
ReplyDeleteNice swap and good buys on sale!
Stocktrader