Indices closed down .94% to 1.30% on Jobs data....

Indices were under pressure even before open as Spanish & Italian bond yields were approaching 7% & 6%......

830 AM brought the bad news of below expectations jobs report, so down we went.

S&P 500 closed @ 1354.68

Internals were :

Down volume led by 4.28 to 1 in NYSE & 2.55 to 1 in Nasdaq

Declining stocks led by 2.07 to 1 in NYSE & 2.55 to 1 in Nasdaq

New 52 wk highs were leading, 149 in NYSE & 53 in Nasdaq

VIX closed Down 2.29% @ 17.10

Oil closed @ $84.45

Gold closed @ $1578.90

Canadian $ Down 39 tick @ 98.17

Portfolio is BIDU,COH,LVS,NTES,JCP,TCK

Here is my weighting as of tonight :

NTES 27.25%

COH  22.38%

LVS  17.03%

BIDU 15.02%

JCP  12.62%

TCK  5.70%

Exposure 145%

Stocks which ended green included LNKD,FB,CMG,LEN,

BKW,SNDK,GMCR,IBN,RIMM.....

Next post by 2 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed @ 0% to <.47%>

Indices were taken by all the commentary from UK, ECB, China. Rate cut from all 3 were outweighed by press conference of ECB chief, who highlighted EU economic challenges.

S&P 500 closed @ 1367.58

RSI @ 59.51

Oil @ $87.22

Gold $1609.40

VIX closed UP 5.04% @ 17.50

AH ER / News :

STX Down 3.03%

INFA Down 25.29%

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, Jobs report consensus is 90K, for the first time there is euphoria about this report. GS has jumped its expectations today by 50K to 125K ( they must have seen a good dream all of a sudden or numbers were leaked to them ? ) so my guess goes with leaked number of 125K or higher. This report should give us a nice finish to another strong week.

BLOG does NOT give buy or sell.

Saleem

Indices fighting back ECB negative picture....

ECB after reducing their rate, gave commentary which was downbeat.

Indices are trying to focus on Chinese rate cut, which will help world economy.

Currently indices are mixed, with Nasdaq in Green.

Internals are negative.

Oil Down 8 cents

Gold Down $11.80

Canadian $ Down 4 tick @ 98.67

VIX UP 5.04% @ 17.50

In my portfolio :

Bought TCK in Toronto yesterday @ equivalent of $32.66

Portfolio is BIDU,COH,LVS,NTES,JCP,TCK....

Exposure 145%

Most stocks are down

@ 11.11 following are green by 2% or more :

BIDU,NTES,COH,LULU,M,AAPL,KORS,

SINA,BJRI......

BLOG does NOT give buy or sell.

PS..i had to step out until 7 PM, will be back to post

my closing comment around 10 PM .

Saleem

 

Indices closed UP .56% to .84%......NICE !!!!

Indices are UP again, three days in a row for S&P 500 & Nasdaq.

S&P 500 closed @ 1374.02, high was 1374.81

RSI @ 62.01

Internals were positive by almost 3 to 1

New 52 wk highs were leading by wide margin, 282 in NYSE & 175 in Nasdaq

Oil UP $3.28 @ $87.03

Gold UP $24.50 @ $1622.20

Canadian $ UP 39 tick @ 98.76

VIX Down .89% @ 16.65

Portfolio is BIDU,COH,LVS,NTES,JCP

Stocks which were UP 1% or more included BIDU,

PCLN,AAPL,TIF,CLF,FCX,TCK,AUY,GG,FB,

MU,VECO,JDSU,CIEN,FNSR,GOOG.

Enjoy July 4th with family & friends.

BLOG does NOT give buy or sell.

PS..most world markets are open on Wed including Canada.

Saleem

Higher highs for Nasdaq & S&P 500...NICE !!!

ISM number showed contraction, but S&P 500 & Nasdaq closed UP.

Dow was slightly down by .07%.

S&P 500 closed @ 1365.51, high today was 1366.35

RSI @ 59.94

Internals were :

UP volume led by 1.85 to 1 in NYSE & 1.79 to 1 in Nasdaq

Advancing stocks led by 2.42 to 1 in NYSE & 1.82 to 1 in Nasdaq

52 wk highs expanded their lead, 261 in NYSE & 165 in Nasdaq

Oil Down @ $83.75

Gold Down @ $1597.70

VIX Down 1.64% @ 16.80

Stocks which were UP 1% or more included AAPL,PCLN,MA,V,

KORS,LNKD,MU,ZNGA,VECO,CIEN,SNDK

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE today gave a solid confirmation of huge UP move on Friday. Internals were strong. Many skeptics are pinning their hope on a weak jobs number on Friday, but weaker jobs number may not give the reaction they are hoping for, Weak ISM number did not create any reaction for more than 30 minutes.

BLOG does NOT give buy or sell.

Saleem

Nasdaq staying green, despite poor ISM data......

Indices are mixed, with Nasdaq showing green.

ISM data was recessionary.

Internals are mixed

S&P 500 @ 1360.09

Oil Down $1.75

Gold Down $6.50

Canadian $ Down 9 tick @ 98.22

VIX UP 2.11% @ 17.44

In my portfolio :

Added 40% BIDU @ $115.25

Portfolio is BIDU,COH,LVS,NTES,JCP

Stocks are mixed

@ 2.03 following are Down :

BIDU,LVS,JCP,LULU,M,CLF,FCX,LEN,FB,

GG,GOOG,AMZN,SU,LRCX,BRCM,NAV,

BWLD,GMCR,ARNA,NVDA,MOS,SBUX,

CCJ,APKT,SINA,ECA,MGA,WYNN,IBN...

BLOG does NOT give buy or sell.

Saleem

Markets biggest issue is out of the way......what next ?

Markets..... were under severe pressure, because European debt crisis was dragging world economies into a fast tailspin.

Because.... of European crisis of funds & lack of demand was impacting China, India & US in a big way......

NOW...that we have decisively dealt with biggest issue of European Bank funding, Europeans business confidence will shoot UP.

NOW...business can start making long-term plans.

NOW..Euro will stay strong

NOW...Bernanke & other Central Bankers can look @ their OWN internal issues & deal in a decisive manner, instead of worrying about European impact to their economies.

NOW....I can see that China will turnaround quickly in Q3

NO WONDER....markets took off & left skeptics & UBER GENIUS scrambling for LIQUIDITY.

DO NOT..take EU resolution lightly, it IS a GAME CHANGER.

Q2 ....economic activities froze up, due to EU stalemate, this has impacted demand of many things, from commodities to electronics to Gold.........

NOW..its GAME ON for everything.

Q2..earnings report will be a DOWNER, but Q3 guidance will be as or better than expected.

Jobs Report...again will disappoint...BUT market will look ahead to IMPROVING July......

EU decision...gave a HUGE BOOST to our portfolios on Friday......it was my second biggest gain ever..best was Nov 28th 2011..Friday saw 3.1% gain in Stocks & 6.72% gain in Canadian$..total gain on Friday 9.82%......

SO FAR...this year 12 UP weeks & 14 Down weeks for me......

HOPEFULLY...you are all positioned to take advantage of making new HIGHS in S&P 500.....1460 is attainable......

BLOG does NOT give buy or sell.

Saleem