Indices closed near low of the day again after reversing from green open to deep red.
S&P 500 @ 4370.36, low 4364.83, high 4421.17
RSI @ 34.61
Internals were :
Down volume led by 1.58 to 1 in NYSE & 2.99 to 1 in Nasdaq
Declining stocks led by 2.43 to 1 in NYSE & 2.02 to 1 in Nasdaq
Net new lows were leading by 117 in NYSE & 263 in Nasdaq
VIX UP 6.62% @ 17.89
Oil @ $80.39
Gold @ $1915.20
Canadian $ @ .6472
In my portfolio:
Sold 50% SHOP @ $52.99
Bought AI @ $29.80
Bought PLTR @ $14.16
Portfolio AI PLTR SHOP BTCC
Nasdaq is down 8% from high getting close to deeply oversold condition. Nobody buys @ absolute low of any pullback, so I get IN when I feel its close enough and stocks I am keeping or buying are oversold enough.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Hi Stocktrader,
Bought CAVA @ $43.25
Saleem
Hi Saleem,
Good luck with CAVA!
It is tempting to unwind my hedge here, but I think there's more short term downside. A lot of market participants are too overweight stocks given the interest rate environment and so I think there's still some rebalancing that needs to happen.
Stocktrader
Hi Stocktrader,
I totally agree with your take.....
I am gradually shifting into my " bullish posture "
Saleem
Hi Stocktrader,
Bought TSLA in Toronto 10% Value @ $20.05
Saleem
Hi Saleem,
Good luck with TSLA!
Stocktrader
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