Monday, August 14, 2023

Indices closed UP .07% to 1.05%...NICE !!!

 Indices closed UP after opening lower. Internals were negative and small cap closed lower.

S&P 500 @ 4489.72, high 4490.33, low 4453.44

RSI @ 50.37

Internals were :

Down volume led by 1.60 to 1 in NYSE & .91 to 1 in Nasdaq

Declining stocks led by 1.46 to 1 in NYSE & 1.40 to 1 in Nasdaq

Net new lows were leading by 20 in NYSE & 145 in Nasdaq

VIX Down .13% @ 14.82

Oil @ $82.51

Gold @ $1944.00

Canadian $ @ .6543

Portfolio SHOP BTCC

We need to have another positive close to confirm this turnaround. On the positive side DOW S&P 500 & Nasdaq all closed above 50 DMA.....

BLOG does NOT give buy or sell.

Saleem

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3 comments:

  1. stocktrader_1996August 15, 2023 at 10:56 AM

    Hi Saleem,

    Sold JETD @ 25.00 to take profits

    With consumer spending robust and major pilot shortages, I think the supply/demand balance remains reasonable. A weaker global economy could help jet fuel prices also.

    Stocktrader

    ReplyDelete
  2. stocktrader_1996August 15, 2023 at 11:01 AM

    Hi Saleem,

    Added to TZA @ 25.97 as my only hedge remaining

    I think higher interest rates and high wages hurt small caps the most, hence the selection here.

    I have one position cash available and am still eyeing IONQ.

    Stocktrader

    ReplyDelete
  3. Stocks100August 15, 2023 at 11:21 AM


    Hi Stocktrader,

    Nice trade on JETD.

    Good luck with more TZA....

    IONQ looking better than most....

    Saleem

    ReplyDelete