Indices are UP due to oversold conditions.
S&P 500 high so far is 1320.75, currently 1317.44
RSI 47.11
Internals are positive by almost 2 to 1
Oil UP 46 cents
Gold UP $16.60
Canadian $ UP 47 tick @ 97.36
VIX Down 2.29% @ 23.02
Portfolio is COH,LVS,LEN,LNKD,JCP
Most stocks are UP
@ 2.14 following are down :
COH,LEN,LNKD,JCP,NAV,CMG, GOOG,
PCLN,BIDU,NTES,V,ZNGA,GMCR,BWLD,
SBUX,STLD,BJRI,KOG.......
BLOG does NOT give buy or sell.
Saleem
Tuesday, June 12, 2012
Monday, June 11, 2012
Indices closed near lows of the day......
Indices were under selling pressure right after open. It was a "sell the news" approach.
Indices closed down 1.14% to 1.70%.
S&P 500 low was 1307.72, closing @ 1308.93.
RSI @ 43.96
Internals were :
Down volume led by 10.68 to 1 in NYSE & 8.46 to 1 in Nasdaq
Declining stocks led by 3.88 to 1 in NYSE & 3.27 to 1 in Nasdaq
New 52 wk highs were in the lead, 74 in NYSE & 55 in Nasdaq
VIX closed UP 10.98% @ 23.56
Oil closed @ $82.70
Gold closed @ $1596.80
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, today was a major disappointment. Option Expiry on Friday played a major role today in closing open interest bearish bets. I am sure it took billions to accomplish this. When big players were positioned to lose billions, then they put few more billions to make their bearish trade to work. Volume was light, which proves super-computers were controlling direction. All sectors were RED today? I think, we gradually build from here again as bearish bets are out of the way. Ironically, today we had more new 52 wk highs?
BLOG does NOT give buy or sell.
Saleem
Indices closed down 1.14% to 1.70%.
S&P 500 low was 1307.72, closing @ 1308.93.
RSI @ 43.96
Internals were :
Down volume led by 10.68 to 1 in NYSE & 8.46 to 1 in Nasdaq
Declining stocks led by 3.88 to 1 in NYSE & 3.27 to 1 in Nasdaq
New 52 wk highs were in the lead, 74 in NYSE & 55 in Nasdaq
VIX closed UP 10.98% @ 23.56
Oil closed @ $82.70
Gold closed @ $1596.80
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, today was a major disappointment. Option Expiry on Friday played a major role today in closing open interest bearish bets. I am sure it took billions to accomplish this. When big players were positioned to lose billions, then they put few more billions to make their bearish trade to work. Volume was light, which proves super-computers were controlling direction. All sectors were RED today? I think, we gradually build from here again as bearish bets are out of the way. Ironically, today we had more new 52 wk highs?
BLOG does NOT give buy or sell.
Saleem
Indices under selling pressure.......
Indices were met with selling pressure, open was strong but petered out quickly.
Currently indices are down .41% to .74%.
S&P 500 high was 1335.52, low 1319.50, currently 1319.50.
Internals are negative.
52 wk highs are still in the lead.
Oil Down 51 cents
Gold UP $7.20
Canadian $ Down 27 tick @ 97.13
VIX UP 3.44% @ 21.96
Portfolio is COH,LVS,LEN,LNKD,JCP
Most stocks are down
@ 2.00 following are green :
KORS,BIDU,PCLN,AAPL,AMZN,NAV,FB,
MA,V,EXPE,NVDA,EGO,YGE,CSIQ.....
BLOG does NOT give buy or sell.
Saleem
Currently indices are down .41% to .74%.
S&P 500 high was 1335.52, low 1319.50, currently 1319.50.
Internals are negative.
52 wk highs are still in the lead.
Oil Down 51 cents
Gold UP $7.20
Canadian $ Down 27 tick @ 97.13
VIX UP 3.44% @ 21.96
Portfolio is COH,LVS,LEN,LNKD,JCP
Most stocks are down
@ 2.00 following are green :
KORS,BIDU,PCLN,AAPL,AMZN,NAV,FB,
MA,V,EXPE,NVDA,EGO,YGE,CSIQ.....
BLOG does NOT give buy or sell.
Saleem
Sunday, June 10, 2012
Spain gets $125 billion, shorts are in "deep trouble"....
-Spain gets $125 billion for banks, which was @ the high end of expectations.
-Chinese Data did NOT print any new lows in economic activity. Chinese stat has the earmark of a "trough"...
-Puts in S&P 500 "extremely high"
-Weekly & Monthly Option Expiry this Friday
All of the above should create " the-biggest RUNUP" in a while.....
Shorts are in deep TRAUMA & will cover @ open & go long.....
Cannot recall except @ QE1, that market has so many positive FIREWORKS....
With Spain out of "crisis headlines", shorts are stuck with no "panic news flow to CNBC"
S&P 500 should take out 50 DMA @ 1356.92 by Tuesday of this week....
By Friday, there is a very good chance of looking @ 1400 area......
SO...a 75 S&P 500 points or 5.7% move in a week , could be the-fastest sprint......
YES...it is OK to be @ above average exposure on Monday.......
Again, biggest gains will be in strong stocks........
This week may give "confidence to sideline money" who are hiding in US Treasury / Bonds.
All I can say "fasten your seat belt".....we are gaining altitude in a hurry.
BLOG does NOT give buy or sell.
Saleem
-Chinese Data did NOT print any new lows in economic activity. Chinese stat has the earmark of a "trough"...
-Puts in S&P 500 "extremely high"
-Weekly & Monthly Option Expiry this Friday
All of the above should create " the-biggest RUNUP" in a while.....
Shorts are in deep TRAUMA & will cover @ open & go long.....
Cannot recall except @ QE1, that market has so many positive FIREWORKS....
With Spain out of "crisis headlines", shorts are stuck with no "panic news flow to CNBC"
S&P 500 should take out 50 DMA @ 1356.92 by Tuesday of this week....
By Friday, there is a very good chance of looking @ 1400 area......
SO...a 75 S&P 500 points or 5.7% move in a week , could be the-fastest sprint......
YES...it is OK to be @ above average exposure on Monday.......
Again, biggest gains will be in strong stocks........
This week may give "confidence to sideline money" who are hiding in US Treasury / Bonds.
All I can say "fasten your seat belt".....we are gaining altitude in a hurry.
BLOG does NOT give buy or sell.
Saleem
Friday, June 8, 2012
Impressive close today......
Indices closed near high of the day, on optimism about Spain Banking resolution.
S&P 500 high was 1325.81, closed @ 1325.66....
RSI 49.49
Internals were :
UP volume led by 2.56 to 1 in NYSE & 3.86 to 1 in Nasdaq
Advancing stocks led by 2.31 to 1 in NYSE & 1.94 to 1 in Nasdaq
New 52 wk highs were leading, 64 in NYSE & 34 in Nasdaq
VIX closed Down 2.26% @ 21.23
Oil @ $84.10
Gold @ $1591.40
Canadian $ @ 97.41
Stocks which were UP 1% or more included COH,LEN,LNKD,JCP,
KORS,M,LULU,PCLN,
AAPL,FB,AUY,NAV,
MU,VECO,JDSU,
CIEN,C.....
Portfolio is COH,LVS,LEN,LNKD,JCP
Here is my weighting as of tonight :
COH 35.96%
LNKD 28.85%
LEN 17.90%
JCP 10.37%
LVS 6.92%
Exposure 100%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 high was 1325.81, closed @ 1325.66....
RSI 49.49
Internals were :
UP volume led by 2.56 to 1 in NYSE & 3.86 to 1 in Nasdaq
Advancing stocks led by 2.31 to 1 in NYSE & 1.94 to 1 in Nasdaq
New 52 wk highs were leading, 64 in NYSE & 34 in Nasdaq
VIX closed Down 2.26% @ 21.23
Oil @ $84.10
Gold @ $1591.40
Canadian $ @ 97.41
Stocks which were UP 1% or more included COH,LEN,LNKD,JCP,
KORS,M,LULU,PCLN,
AAPL,FB,AUY,NAV,
MU,VECO,JDSU,
CIEN,C.....
Portfolio is COH,LVS,LEN,LNKD,JCP
Here is my weighting as of tonight :
COH 35.96%
LNKD 28.85%
LEN 17.90%
JCP 10.37%
LVS 6.92%
Exposure 100%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, June 7, 2012
Indices closed near lows of the day......
Indices had lot going for it, China cut lending & deposit rates by .25%, Ben Bernanke repeated his commitment to assist US economy IF needed, but all this bullish moves added up to zilch by close.
Indices closed mixed.
S&P 500 high today was 1329.05, closing @ 1314.99
RSI @ 45.43
Internals were :
Down volume led by 1.24 to 1 in NYSE & 3.07 to 1 in Nasdaq
Declining stocks led by 1.16 to 1 in NYSE & 1.42 to 1 in Nasdaq
New 52 wk highs were leading, 67 in NYSE & 40 in Nasdaq
VIX closed Down 1.99% @ 21.72
Oil closed @ $84.82
Gold closed @ $1588.00
Stocks which were UP 1% or more included LNKD,
BIDU,CIEN,SINA,MGA,CSIQ,KOG,AGU....
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was extremely disappointing today.Close & internals were to the downside. There were some bright spot, like VIX stayed down & New 52 wk highs were in the lead. There is great concern for Saturday's economic reports from China. Chinese data has been weak for last seven months & it will not be any different on Saturday. Rate cut by China is meant to push for growth.
BLOG does NOT give buy or sell
Saleem
Indices closed mixed.
S&P 500 high today was 1329.05, closing @ 1314.99
RSI @ 45.43
Internals were :
Down volume led by 1.24 to 1 in NYSE & 3.07 to 1 in Nasdaq
Declining stocks led by 1.16 to 1 in NYSE & 1.42 to 1 in Nasdaq
New 52 wk highs were leading, 67 in NYSE & 40 in Nasdaq
VIX closed Down 1.99% @ 21.72
Oil closed @ $84.82
Gold closed @ $1588.00
Stocks which were UP 1% or more included LNKD,
BIDU,CIEN,SINA,MGA,CSIQ,KOG,AGU....
AH Futures Mixed
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was extremely disappointing today.Close & internals were to the downside. There were some bright spot, like VIX stayed down & New 52 wk highs were in the lead. There is great concern for Saturday's economic reports from China. Chinese data has been weak for last seven months & it will not be any different on Saturday. Rate cut by China is meant to push for growth.
BLOG does NOT give buy or sell
Saleem
China .25% rate cut gives market another reason to rally......
China surprised everyone by .25% rate cut, to give boost to their weakening economy.
Ben Bernanke stayed the course with same old line, which was not received well by traders.
Indices gave up euphoric gain to struggling gain.....UP .19% to .88%
S&P 500 high today was 1329.05, currently @ 1322.69
Internals are positive.
New 52 wk highs maintaining lead.
Oil Up 1 cent
Gold Down $45.40
Canadian $ UP 30 tick @ 97.60
VIX Down 3.97% @ 21.28
In my portfolio :
Added 110% LEN @ $26.56
Portfolio is COH,LVS,LEN,LNKD,JCP
Exposure 100%
Most stocks are UP
@ 2.13 following are down :
COH,JCP,KORS,M,LULU,TIF,APKT,
CMG,PCLN,GOOG,FB,AUY,GG,LRCX,
VECO,BWLD,EXPE,NVDA,SLW,EGO,
AEM,ECA,WYNN,GS.....
BLOG does NOT give buy or sell.
Saleem
Ben Bernanke stayed the course with same old line, which was not received well by traders.
Indices gave up euphoric gain to struggling gain.....UP .19% to .88%
S&P 500 high today was 1329.05, currently @ 1322.69
Internals are positive.
New 52 wk highs maintaining lead.
Oil Up 1 cent
Gold Down $45.40
Canadian $ UP 30 tick @ 97.60
VIX Down 3.97% @ 21.28
In my portfolio :
Added 110% LEN @ $26.56
Portfolio is COH,LVS,LEN,LNKD,JCP
Exposure 100%
Most stocks are UP
@ 2.13 following are down :
COH,JCP,KORS,M,LULU,TIF,APKT,
CMG,PCLN,GOOG,FB,AUY,GG,LRCX,
VECO,BWLD,EXPE,NVDA,SLW,EGO,
AEM,ECA,WYNN,GS.....
BLOG does NOT give buy or sell.
Saleem
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